Qatar-Oman trade exchange posts 101% growth: Al-Kuwari
Trade exchange between Qatar and Oman has reached QR4.1bn, registering a 101% growth, according to HE the Minister of Commerce and Industry Ali bin Ahmed al-Kuwari, who lauded both countries’ robust ties in the investment and trade sectors.
Al-Kuwari was speaking at the ‘Qatar-Oman Business Forum’, which kicked-off yesterday on the sidelines of the ‘Made in Qatar’ exhibition being held at the Oman Conference & Exhibition Centre until December 6.
Addressing the forum, al-Kuwari said Qatar-Oman relations “have significantly developed thanks to the directives of His Highness the Amir Sheikh Tamim bin Hamad al-Thani and Sultan Qaboos bin Said.
The minister said brotherly between Qatar and Oman “are reflected in all co-operation fields,” especially in trade and investments. He noted that the forum signifies the “joint desire” for both countries to further develop relations to higher levels.
Al-Kuwari said mutual investments with Oman, which ranks as Qatar’s 18th trade partner, have seen “remarkable growth in all fields,” including agriculture, livestock, transportation, communication, energy, tourism, and education.
The minister said the staging of the ‘Made in Qatar’ exhibition in Oman occurs alongside “many geopolitical fluctuations in the region,” including the economic blockade imposed on Qatar, which, al-Kuwari stressed, “had no impact” on Qatar’s plans to set up strong, export-capable local industries.
Qatar Chamber first vice chairman Mohamed bin Towar al-Kuwari said the ‘Made in Qatar’ expo also aims to deepen relations between both countries’ business sectors, increase trade exchange, explore investment opportunities, and establish trade alliances and joint projects.
Al-Kuwari called on Qatari and Omani business owners to build more partnerships and joint ventures. He stressed the Qatar Chamber’s role in encouraging businessmen to take the advantage of the incentives and facilities being offered by Oman, including industrial zones in Salala and Al Duqm ports, and investments in the tourism and services sectors.
Dr Salem bin Sulayem al-Junaibi, deputy chairman of the Oman Chamber of Commerce and Industry for Economic Affairs and Branches, said Qatar-Oman relations “are firm, developed, and reflect clearly the aspirations and directives both leaderships.”
Al-Junaibi said Qatari investments in Oman “are promising and progressing,” especially with the efforts being exerted on both sides. He stressed the Oman Chamber’s support for any investment initiatives that serve mutual economic interests. He also called on businessmen to take advantage of incentives and facilities available in Oman in line with Oman Vision 2040.
On the sidelines of the business forum, several presentations from Qatar Development Bank, Manateq, Coordinating Committee for the Single Window System Management, Al Duqm Port, Oman Development Bank, and Public Establishment for Industrial Estates–Madayn were held during a session titled ‘Industry... Strategic Choice’.
At the same time, Al Meera Consumer Goods Company signed an agreement with Dawood Contracting Company for the setting up of an Al Meera subsidiary in Oman.
Qatar is showcasing five of its top industries at the four-day ‘Made in Qatar 2018’ exhibition, which kicked-off yesterday at the Oman Conference and Exhibition Centre in Muscat.
The expo, which will run until December 6, is showcasing the products and services of 240 manufacturing companies from various sectors, including food and beverages, furniture, petrochemicals, small and medium-sized enterprises (SMEs), and home-made businesses.
The event, which is held outside of Qatar for the second time, was officially opened by HE the Minister of Commerce and Industry Ali bin Ahmed al-Kuwari and Oman’s General Authority for Investment Promotion and Export Development president Yahia bin Saeed al-Jabri. Qatar Chamber first vice-chairman Mohamed bin Towar al-Kuwari, second vice-chairman Rashid al-Athba, board member and president of the Organising Committee Rashid bin Nasser al-Kaabi, and Qatar’s ambassador to Oman Ali bin Fahad Falah al-Hajri also attended the event, as well as a number of officials of the Oman Chamber of Commerce and Industry led by its chairman, Qais bin Mohammed al-Yousuf.
Al-Kuwari said the exhibition “embodies the keenness of the two countries” on strengthening bilateral co-operation and establishing investment and trade projects that would serve the economic development of both sides.
He lauded the interest of Qatari companies in participating in the exhibition, which underlines the importance of ‘Made in Qatar’ in supporting national industries and promoting national product in the domestic and foreign markets.
The minister also described Qatar-Oman relations as “excellent,” pointing to the countries’ ambition to develop it at the commercial and industrial levels to achieve economic integration, “especially in light of the growth in trade between the two countries, which reached QR4.1bn in 2017.”
Al-Kuwari said the products offered at the expo are from important industries for domestic consumption and exports. He said Qatar’s new investment law, which allows 100% ownership for non-Qataris, will benefit Omani companies wanting to enter the Qatari market. Qatar Chamber first vice chairman Mohamed bin Towar al-Kuwari said ‘Made in Qatar’ and the ‘Qatar-Oman Business Forum’ present “a golden opportunity” for Omani and Qatari businessmen to meet to discuss investment opportunities between the two sides.
The Qatar Chamber official said the two sides agreed to hold several forums in the coming period “to achieve greater harmony and convergence” between the Omani and Qatari business communities. Qatar Chamber said it is keen on organising ‘Made in Qatar’ on a regular basis, aligned with the Qatar National Vision 2030 and inspired by the insightful vision of the country’s leadership, “which has given great importance to the industry.”
HE the Minister of Commerce and Industry Ali bin Ahmed al-Kuwari; Qatar Chamber first vice chairman Mohamed bin Towar al-Kuwari; Oman Chamber of Commerce and Industry chairman Qais bin Mohammed al-Yousuf; Oman’s General Authority for Investment Promotion and Export Development president Yahia bin Saeed al-Jabri, and other dignitaries during the forum.
HE the Minister of Commerce and Industry Ali bin Ahmed al-Kuwari and Oman’s General Authority for Investment Promotion and Export Development president Yahia bin Saeed al-Jabri officially opening the ‘Made in Qatar’ expo in the presence of other dignitaries during a ceremony held yesterday at the Oman Conference and Exhibition Centre in Muscat.
Qatar Chamber first vice chairman Mohamed bin Towar al-Kuwari speaking at the forum’s opening ceremony.
HE the Minister of Commerce and Industry Ali bin Ahmed al-Kuwari delivering a speech at the ‘Qatar-Oman Business Forum’, which kicked-off yesterday on the sidelines of the ‘Made in Qatar’ exhibition being held at the Oman Conference & Exhibition Centre.