Saudi Arabia, Qatar Work to Revive Joint Business Council

Gulf

February 24th, 12:00pm

Riyadh- Asharq Al-Awsat

Saudi Crown Prince Mohammed bin Salman welcomes Qatar’s Emir Sheikh Tamim bin Hamad Al Thani upon his arrival to attend the Gulf Cooperation Council’s (GCC) 41st Summit in Al-Ula, Saudi Arabia January 5, 2021. Bandar Algaloud/Courtesy of Saudi Royal Court/Handout via REUTERS

The private sector in both Saudi Arabia and Qatar is actively working to revive the joint business council, in a step that follows the restoration of the political and economic relations between the two countries that marked Al-Ula GCC Summit earlier this year. According to information obtained by Asharq Al-Awsat, the Council of Saudi Chambers has informed the Chambers of Commerce and Industry in the regions of the Kingdom to open candidacies for the membership of the Joint Saudi-Qatari Business Council, calling on those wishing to participate to review the special conditions and submit the dedicated forms, along with their resume and other required documents. On a different note, the Union of Arab Chambers addressed a letter to the Council of Saudi Chambers, announcing the intention of the Qatar Chamber of Commerce and Industry, in partnership with Qatar Development Bank, to organize a virtual Qatar exhibition early next March. According to the letter, the exhibition is an opportunity for international companies to participate with their Qatari counterparts through the electronic platform to exchange experiences and form partnerships in various sectors of construction, packaging, electrical appliances, and food. The Saudi Ministry of Commerce has recently launched the new system of the Chambers of Commerce, which was approved by the Council of Ministers, to facilitate the start and practice of commercial work, develop the functioning of the chambers through performance indicators and raise their efficiency in accordance with international best practices. The system also aims to strengthen strategic partnerships that would allow the development of economic activities in all regions, and raise the competitiveness of the business sector. The ministry noted that the system seeks to unify efforts to serve the private sector by establishing chambers or branches according to administrative regions. It also allows foreign investors to be members of the boards of directors of the chambers. The new system has given the council several missions, the most important of which is the representation of the chambers of commerce in the various commercial activities at the national and international level.

from Asharq AL-awsat https://english.aawsat.com/home/article/2825276/saudi-arabia-qatar-work-revive-joint-business-council