Qatari, Saudi Business Sectors Open Economic, Investment Cooperation Talks

Business

December 9th, 7:56am

Dammam - Merza al-Khuwaldi

Top chamber officials from Qatar and Saudi Arabia led a high-level business meeting tackling several key issues, including economic integration, trade growth, and the activation of the Qatari-Saudi Business Council, Asharq Al-Awsat

The Council of the Federation of Saudi Chambers and the Qatar Chamber on Wednesday organized and held a Saudi-Qatari business forum in Doha. The meeting, which saw the participation of both the public and private sectors, focused on cooperation opportunities between Saudi Arabia and Qatar. Top chamber officials from Qatar and Saudi Arabia led the high-level business meeting that tackled several key issues, including economic integration, trade growth, and the activation of the Qatari-Saudi Business Council, among others. Ajlan Al-Ajlan, the Chairman of the Council of the Federation of Saudi Chambers, said the meeting would help strengthen cooperation ties between both sides. He expressed hope that it would represent a starting point for effective recommendations that underpin future cooperation between businessmen in the two countries. On activating the Qatari-Saudi Business Council, al-Ajlan said both sides are working on restructuring it to enhance communication prospects and exchanging information about investment opportunities on the back of the Saudi Vision 2030 and Qatar National Vision 2030. These opportunities include food and medicine production, logistics services, technology services, digitization, and other promising opportunities that ensure the diversity and competitiveness of the two economies and to raise the standard of living in both countries. Al-Ajlan noted that although the two countries have components and comparative advantages for economic integration in many industries, the volume of trade exchange is still below what they aspired to in the future. Official Saudi statistics indicate that the volume of trade exchange between the two countries amounted to about SR 1.67 billion ($426 billion) in the third quarter of 2021. Al-Ajlan indicated that transportation equipment, minerals, and chemicals are the most important products exchanged between the two countries. He stated that the responsibility for the private sector in both countries is increasing, and it requires activating a real role that pushes the wheel of economic development to its highest levels.

from Asharq AL-awsat https://english.aawsat.com/home/article/3349756/qatari-saudi-business-sectors-open-economic-investment-cooperation-talks