UAE Minister of Economy explores investment opportunities in Qatar

DOHA, 27th May, 2015 (WAM) --- Sultan bin Saeed Al Mansouri, Minister of Economy, led the UAE trade and investment mission which concluded a visit to Doha, Qatar. The visit came in response to the invitation of Sheikh Ahmed bin Jassim Al Thani, Minister of Economy and Commerce, for a briefing on investment opportunities in Qatar in various fields for Emirati businesspersons and investors. The UAE delegation included 50 persons from economic and trade departments in the local and federal departments as well as a huge number of investors and businesspersons. The Minister of Economy noted that the visit was part of the framework to enhance bilateral relations between the two fraternal countries in the economic, trade and investment domains and in pursuance of boosting opportunities to work together in the GCC, as well as strengthening integration. He added that all the GCC bilateral or multilateral meetings were aimed at bolstering the desired GCC integration. During the meeting, Al Mansouri and Al Thani discussed avenues for enhancing economic and trade co-operation between the two fraternal countries as well as an increase in trade exchange. They stressed the importance of the role being played by the private sector in the two countries to develop joint co-operation, especially in the trade and investment fields. Al Mansouri also noted the keenness of the UAE led by President His Highness Sheikh Khalifa bin Zayed Al Nahyan to enhance bilateral co-operation with Qatar in all sectors, especially in the economic, trade and investment fields to the advantage of both countries. He added that this would contribute to boosting efforts of the GCC states in working together. The Economy Minister also added that the UAE delegation includes a huge number of officials and members of trade and economic departments including commerce and industry chambers as well as representatives of a large number of well-reputed companies and investment entities. This reflects the interest the country has in strengthening investment cooperation between the two friendly nations, specially business community in both countries. He also indicated that the UAE companies and investors have the potential and capabilities as well as cumulative investment experience which enables them to support the march of development being witnessed by Qatar. A Mansouri pointed out that the two countries will witness international events, such as Expo 2020 Dubai and World Cup in Qatar in 2022, both international events that are set to open hundreds of investment opportunities in the two countries. He reiterated that the economic and trade ties between the two countries have been witnessing continuous growth with the foreign trade volume between the two sides in the past ten years rising 587 percent from US$936.2 million in 2005 to US$5.5 billion in 2014. He added that the two countries have signed a large number of agreements in various fields, especially in energy, industry, financial, economic, trade, youth and sports, transport, civil aviation, meteorology, cooperation in the field of higher education and scientific research, municipal and agriculture, public works housing fields and other services. He also noted that the trade mission is an opportunity to brief business communities in both countries regarding the investment opportunities in the two countries. The UAE delegation included Abdullah bin Ahmed Al Saleh, Undersecretary of the Ministry of Economy-Foreign Trade sector, Juma Mohammed Al Kit, Assistant Undersecretary of the Ministry of Economy for Foreign Trade, and other officials. – Emirates News Agency, WAM – http://www.wam.ae/en/news/emirates/1395281080321.html http://www.wam.ae/en/news/emirates/1395281084404.html