Qatar- Luxemburg Economic Forum Discusses Bilateral Cooperation

Luxemburg, May 26 (QNA) - HE Minister of Economy and Commerce Sheikh Ahmed bin Jassim bin Mohammed Al-Thani presided over the Qatari delegation participating in the Qatar-Luxembourg Business Forum held in Luxembourg City. Addressing the Forum, HE Sheikh Ahmed bin Jassim bin Mohammed Al-Thani stressed the close ties between the State of Qatar and the Grand Duchy of Luxembourg which witnessed a steady growth, thanks to the exchange of official visits between the two countries and the signing of bilateral agreements on various areas, especially in the economic, tourist, financial, scientific and cultural areas. He also stressed the importance of enhancing bonds of cooperation in various fields, especially economic, trade and investment, including innovation and technology, noting that Qatar considers innovation as a top priority and seeks to attract leading specialists from international companies in order to achieve Qatar National Vision (QNV) 2030 to build a diverse and competitive knowledge-based economy. He also stressed the need to develop the volume of trade exchange between the two countries, which amounted in 2015 to around$ 25 million. HE Sheikh Ahmed bin Jassim bin Mohammed Al-Thani reviewed the growth rates achieved by the Qatari economy in 2015, praising Qatar's advanced ranks in various global indices, including the Global Competitiveness Index, in which Qatar occupies, the first among Arab countries in the Middle East and North Africa and the 14th in the world. On the current conditions in the global economy, given the volatility of oil prices and decline of growth rates, he called for join efforts to achieve investment partnerships to enhance the immunity of both countries' economies. HE the Minister of Economy and Commerce expressed hope that this Forum would contribute to increasing the volume of trade exchange between the two countries and establishing effective partnerships and new investments opportunities between Qatari businessmen and their Luxembourg counterparts. For his part, HE Chairman of Qatari Businessmen Association (QBA) Sheikh Faisal bin Qassim Al-Thani in his speech before the Forum, said the event comes within the framework of the efforts being exerted by the State of Qatar to build a solid foundation for common understanding and promote bilateral relations. He pointed out that Luxembourg took advantage of its geographical location to perform an influential and vital role in all economic, political and cultural fields. Qatar has been able to continue to implement a long-term investment strategy, in which the State constitutes a newly open-minded partner to investors, he went on saying. The main objective of the Forum is to contribute to the sustainable development of the State of Qatar and the Grand Duchy of Luxembourg through strengthening relations between the two countries and encouraging businessmen from both sides to discuss joint investment opportunities. The Qatari delegation for the Qatar - Luxemburg Business Forum included Chairman of Qatari Businessmen Association (QBA) HE Sheikh Faisal bin Qassim Al-Thani along with a number of representatives of the Public Works Authority (Ashghal) Qatar Rail, the Supreme Committee for Delivery & Legacy, the Ministry of Energy and Industry, Qatar Foundation For Education, Science and Community Development (QF), Nebras Power QSC, Qatar Financial Centre (QFC) and Katara Hospitality, Manateq and Qatar Airways. The event was also attended by HE Sheikh Ali bin Jassim Al-Thani, Qatar's Ambassador to the Kingdom of Belgium and Head of Mission of the State of Qatar to the European Union and the North Atlantic Treaty Organization (NATO). For his part, Luxembourg's Minister of Finance Pierre Gramegna welcomed HE the Minister of Economy and Commerce and the accompanying delegation, praising the developments taking place in the State of Qatar in all fields and wishing relations between the two countries further development and growth. He also stressed his country's keenness to enhance the bonds of relations with the State of Qatar. (QNA)