South African President Looking Forward to Enhance Cooperation with Qatar in Various Economic Avenues

Doha, November 15 (QNA) - President of the Republic of South Africa HE Cyril Ramaphosa said his country is looking to expand cooperation with Qatar, adding that South Africa is ready to build boundless partnership between Qatari businessmen and their counterparts from South Africa.
    This came during a meeting held at the Sheraton Hotel with a delegation from the Qatar Chamber and the Qatar Businessmen Association.
    His Excellency said that Qatar is a positive partner to South Africa, calling on business sectors in Qatar to explore investment opportunities available in all sectors.
    "We need to see Qatari investments in South Africa. There is no obstacles between both countries to expand their commercial relations," His Excellency added. 
    He noted that South Africa owns a distinguished position and is rife with plenty of opportunities in sectors such as infrastructure, industry, mining, food processing, pharmaceuticals and others, assuring that there is a lot of investment opportunities in the South African market.
    He also said that South Africa has quite advanced industry and technology sectors, with strong presence in major markets like the two Americas and Asia, as well as a lot of trade agreements signed in Africa Continent. His Excellency also praised the State of Qatar's success in hosting the FIFA World Cup Qatar 2022. 
    For his part, First Vice-Chairman Mohamed bin Twar Al Kuwari commended the robust and close relationship between the State of Qatar and the Republic of South Africa across various domains. He emphasized that these relations have experienced significant growth in recent years, particularly in the fields of trade and the economy. 
    This is evident in the frequent visits exchanged between officials from both countries and the numerous agreements and Memoranda of Understanding (MoUs) signed across various sectors, he added.
    He highlighted that bilateral trade volume between the two countries experienced a notable surge of 33 percent, reaching QR 1.66 billion last year compared to QR 1.25 billion in 2021, adding that this emphasized the importance of South Africa as a crucial trade partner for Qatar.
    In relation to mutual investments, he pointed out that both nations are dedicated to overcoming any obstacles that might impede joint ventures. They offer various facilities and incentives to attract investors, fostering robust relations between Qatari and South African businessmen and companies. He also praised the many successful South African investments in Qatar's energy sector. Furthermore, the Qatari market benefits from a diverse range of South African products, encompassing fruits, vegetables, and foodstuffs.
    Emphasizing the role of the Chamber, Al Kuwari said that Qatar Chamber is fully devoted to supporting the strengthening of cooperation between the Qatari private sector and its South African counterpart. The objective is to facilitate the establishment of new commercial partnerships and economic alliances in sectors of mutual interest. He also said that Qatari businessmen are keen on understanding the investment climate and opportunities in South Africa. He also said that Qatar Chamber was encouraging investors and businessmen on getting to know the investment opportunities in many of South Africa's sectors such as energy, agriculture, food processing, mining, infrastructure, and more.
    The meeting, which was also attended by representatives of major South African companies, discussed ways to enhance trade and economic cooperation relations between the private sectors in the two countries, the investment climate and available opportunities, and the possibility of strengthening commercial partnerships in various sectors. (QNA)