Qatar and UAE to increase investment opportunities

Qatar Chamber and the Federation of UAE Chambers of Commerce and Industry announced a plan to form a committee that will explore investment opportunities in the two countries and in the region.

The committee or team will look for opportunities in the region and outside in the area of food security, tourism, services, information technology, housing and other sectors.

“The committee will be a six-member team comprising three members from Qatar and three from the UAE,” said Muhammed bin Ahmed bin Towar Al Kuwari, Vice Chairman, Qatar Chamber, speaking on the sidelines of the meeting.

Qatar Chamber also organised Qatar-UAE Joint Business Council Meeting and Qatari UAE Economic Forum at the Sheraton Grand Hotel. The businessmen from both countries also discussed the idea of electronically connecting the chambers of Qatar and the UAE, reports The Peninsula.

Addressing the meeting, Al Kuwari said the linking of Qatar Chamber with the chambers of the UAE will help businessmen in both countries to easily access information related to business and investment.

Mohamed Thani Murshed Al Rumaithi, Chairman of the Federation of UAE Chambers of Commerce and Industry, and Abu Dhabi Chamber of Commerce and Industry, said the bilateral trade between Qatar and the UAE will increase further in coming years due to the positive steps taken by both governments.

Addressing the Qatari UAE Economic Forum, Sheikh Khalifa bin Jassem bin Mohammed Al Thani, Chairman, Qatar Chamber, said the volume of bilateral trade between the two countries reached QR26bn or $7bn in 2015.

The volume of trade and investment between the two countries is increasing every year, which reflects the efforts taken by the two sides to boost ties. He outlined the importance of strong ties between Qatar and the UAE.

He added that Qatar and the UAE have a common goal of diversifying their economies and it is the best time to diversify given the low oil prices in the global market.

Qatar and the UAE are very important destinations for global investment. The two countries share historic relations based on mutual respect and understanding. Qatari market welcomes the investment by the UAE in all fields.