Qatar GDP Touches QR737 Billion in 2013

Doha, April 07 (QNA) - The Gross Domestic Product (GDP) in Qatar in 2013 touched QR737 billion ($202 billion), said HE the Minister of Economy and Trade Sheikh Ahmed bin Jassim bin Mohamed Al Thani. HE the Minister of Economy and Trade, who was addressing the opening session of the first meeting of the joint Qatari-Portuguese committee, added that GDP's growth rate stood at 6.5 %, which makes Qatar among the fastest growing economies in the world. His Excellency said that trade exchange between Qatar and Portugal was estimated at about QR676 million (approximately $185 million) in 2013, adding that this is still below the aspirations of both sides and reflects the need for more efforts to expand trade and open more investment opportunities and to strengthen relations between the two sides through the chambers of commerce and industry and the exchange of businessmen's visits. HE Sheikh Ahmed bin Jassim bin Mohamed Al Thani described the Qatari-Portuguese relations as well-established and friendly ties, thanks to the leadership of both countries who has been calling for expanding the horizons of joint cooperation in economy, trade and investment in general, and in business sector in particular. He pointed out that the agreements and MoUs signed by Qatar and Portugal in economy, trade and investment reflect the huge potentials the two countries have to expand the areas of economic cooperation, trade and investment. He also noted to the role that the private sector could play in increasing the volume of trade exchange and increasing the size of their investments in the two countries, both through individual or joint investments. He welcomed the Portuguese companies in Qatar, saying the Qatar will help them to obtain the necessary licenses to start business in Qatar. His Excellency added that the exchange of experiences through individual or joint action will enable the positive contribution from both sides in the achievement of sustainable development projects. HE Sheikh Ahmed bin Jassim bin Mohamed Al Thani said the Qatari economy is promising as Doha seeks to become an effective contributor to global economy in general and international trade in particular by 2030 through a diverse economy that does not rely only on oil and gas. He expected the Qatari economy to be a hub for several economic and investment activities from various world countries, thanks to its trade- and investment-friendly environment, the flexibility of Qatari laws, incentives offered to domestic and foreign investors, and allowing foreign capital to own up to 49 % in all sectors. The Portuguese side urged more cooperation in agricultural investment and to offer Portuguese expertise in technical-based production activities. It also expressed keenness on expanding exchange opportunities between the two sides and supporting Qatar's bid to the World Trade Organization to consider natural gas and its derivatives as environmental commodities. For his part, Portuguese Deputy Prime Minister Paulo Portas said the meeting marks a starting point for the activation of the economic agreement between the two sides to form a joint committee to increase trade and bolster economic ties. He hailed political relations between Qatar and Portugal, adding that this should reflect on trade ties, which should lead to increasing commercial exchange. (QNA)