Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Qatar, Portugal to boost trade  Join our daily free Newsletter

MENAFN - The Peninsula - 08/04/2014
No. of Ratings : 0
Add to Mixx!


(MENAFN - The Peninsula) The visiting Deputy Prime Minister of Portugal, Paulo de Sacadura Cabral Portas and Qatar's Minister of Economy and Commerce,

H E Sheikh Ahmed bin Jassim bin Mohammed Al Thani, both expressed their keen interest to expand areas of mutual cooperation to further deepen economic ties to enhance volume of bilateral trade and investments.

Both sides yesterday admitted that the current volume of bilateral trade is "below ambition" and a there are "huge untapped opportunities" of trade and investments between the two nations, which can help enhance the trade volume for mutual benefits.

The Deputy PM and the Qatar's Minister of Trade and Commerce co-headed the First Session of 'Qatar-Portuguese Joint Commission on Economic, Commercial & Technical Cooperation'.

The volume of bilateral trade in 2013 stood at QR676m, which, according to both the leaders, was low and have great scope for growth.

Portas said that since the signing of the agreement in 2011, Portugal's exports to Qatar increased by 13 percent, while its imports from the energy-rich Gulf state soared by approximately 100 percent.

Sheikh Ahmed added: "Bilateral trade between the two countries is below our ambition. This shows the need to enhance the trade volume by deepening mutual cooperation through expanding and exploring more opportunities of trade and investments."

He said that industry chambers from both the countries can play significant role in increasing bilateral trade, especially by facilitating private investments.

At the meeting, Qatar sought Portugal's support at the World Trade Organisation for an initiative for which Qatar is striving to declare liquefied natural gas (LNG) and its derivatives as environment-friendly products.

The Minister said that it is a "good opportunity" for both the countries to strengthen economic relations for mutual interests.

He said the private setor companies from Portugal will be extended all needful support and facilities from the Qatari side to take part in Qatar's efforts to transform and diversify its hydrocarbon-based economy into a knowledge-based society in line with National Vision 2030, an ambitious goal set to achieve sustainable growth and developed.


Sheikh Ahmed, inviting Portuguese investment in Qatar, said: "Foreign capital can own up to 49 percent stake in a business entity in Qatar, however, with approval from concerned authorities, some priority sectors can have 100 percent foreign direct investments."

The Minister also sought Portuguese investments in Qatar's agro-business industry, especially in the field of technology-intensive sectors. He said that here is a good opportunity to enhance mutual cooperation, and suggested to include and focus on important sectors such as infrastructure, banking, energy, agriculture, education, tourism, culture and arts in future Sessions of the Joint Commission.

The Qatar-Portuguese Joint Commission Session was outcome of the cooperation agreement singed between the two states on March 7, 2011. Seeking Qatari investments in the cash-strapped Portugal economy, the Deputy PM, said: "Since the signing of the agreement two years ago, Portugal economy has made significant improvements and managed to bring some tangible development in different areas, including reduction in (sovereign) debt, unemployment and trade deficit."

Speaking about the first meeting of the Commission, Portas said: "Both the countries have huge potential to expand mutual cooperation. This meeting will activate the process of the implementation of economic agreements signed between the two nations. We also intend to form Joint Committees to further deepen economic ties."

He noted that the objective is not only to increase trade exchange between the two sides, but to support a vibrant economic and trade relations in all its forms.

 


The Peninsula




  MENA News Headlines
 Mar 29 2017 - “Talal Abu-Ghazaleh Professional Training” and AlMotahida Education Group Sign Partnership AgreementMENAFN Press
(MENAFN Editorial)Talal Abu-Ghazaleh Professional Training Group (TAGI-Train) and AlMotahida Education Group (AEG) signed a partnership agreement in the field of digital education in the presence of ...

 Mar 29 2017 - Qatar Airways launches direct flights to TbilisiBangladesh Monitor
(MENAFN - Bangladesh Monitor) Dhaka : Qatar Airways now operates four direct flights toTbilisifrom Doha's Hamad International Airport, in addition to the existing seven weekly flights that operate ...

 Mar 29 2017 - Emirates commences daily flights to Fort LauderdaleBangladesh Monitor
(MENAFN - Bangladesh Monitor) Dubai : Emirates launched its 11th destination in the United States with the start of a daily nonstop passenger service between and Fort Lauderdale-Hollywood ...

 Mar 29 2017 - US-Bangla increases its frequencies to MuscatBangladesh Monitor
(MENAFN - Bangladesh Monitor) Dhaka : US-Bangla Airlines has increased its flights to Muscat from its present four flights to six a week , with effect from December 18, in response to the growing ...

 Mar 29 2017 - Etihad Airways starts restructuring, job cuts as growth slowsBangladesh Monitor
(MENAFN - Bangladesh Monitor) Dhaka : Etihad Airways PJSC will eliminate jobs across several units, highlighting the pressure on carriers in the Persian Gulf to adapt to slowing growth after years of ...

 Mar 29 2017 - US-Bangla flies to fifth int'l destination SingaporeBangladesh Monitor
(MENAFN - Bangladesh Monitor) Dhaka : US-Bangla Airlines, the country's leading premium airline, started flights to its fifth international destination Singapore on March 9. The flights leave ...

 Mar 29 2017 - Oman Air takes delivery of first stretched B787-9Bangladesh Monitor
(MENAFN - Bangladesh Monitor) Muscat : Oman Air has taken delivery of its first Boeing B787-9. The stretched version of the widebody aircraft joins four B787-8s in the fleet. The Omani flag carrier ...

 Mar 29 2017 - Dubai Airport outlaws round bags from baggage operationsBangladesh Monitor
(MENAFN - Bangladesh Monitor) Dubai : Airports will soon introduce a new baggage rule to help improve service, reduce the risk of mishandlings and enhance the performance of its check-in and baggage ...

 Mar 29 2017 - MENA to receive 195m international tourists by 2030Bangladesh Monitor
(MENAFN - Bangladesh Monitor) Dhaka : United Nations World Tourism Organi-sation (UNWTO) and ATM Ministerial Forum at the Arabian Travel Market, taking place on April 24 in the Dubai World Trade ...

 Mar 29 2017 - Sylhet becomes flydubai's third destination in BangladeshBangladesh Monitor
(MENAFN - Bangladesh Monitor) Sylhet : A direct flight of Dubai-based flydubai, codeshared with Regent Air-ways, landed in MAG Osmani International Airport on March 15 that made the airport ...

more...


 





Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Search News
Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help