(MENAFN - The Peninsula) The Peninsula
DOHA: Qatar and China bilateral economic is expected to grow further as both the countries are working in close cooperation to deepen and expand the level of cooperation.
The Ministry of Commerce and Industry (MCI) is organising the Qatar-China Business Forum, which is set to kick-off tomorrow in Beijing. Building on existing Qatari-Chinese partnerships, the forum is aimed at strengthening joint cooperation, promoting bilateral trade, investment and industrial relations and paving the way for new partnerships between the two countries.
Both the countries enjoy close trade and economic relations, which reflected positively on the volume of bilateral trade that amounted to nearly $13.5 (about QR50bn) in 2018. Currently, China ranks as Qatar's third largest trade partner, accounting for 11.7 percent of the country's total foreign trade.
The business forum brings together a large number of Qatari and Chinese officials and businessmen, decision-makers, investors and executives from major companies.
The forum will feature four sessions that will touch on a number of key topics, including the evolving legislative framework in Qatar in addition to business and investment opportunities available to Chinese companies. The sessions will also shed light on opportunities and challenges relating to Qatari-Chinese cooperation and joint ventures. Discussions will also focus on infrastructure projects associated with Qatar's preparations to host the 2022 FIFA World Cup, successful joint ventures and the success stories of Chinese companies in Qatar.
The event provides an important networking platform that brings together Qatari and Chinese businessmen and representatives of the private sector in both countries. It will familiarise attendees with the characteristics of the business environment in Qatar, which represents an attractive destination for foreign investment given the country's significant assets, open economy, strategic location and advanced infrastructure. The forum will also highlight Qatar's attractive legislative environment, as well as amended laws and new legislations adopted by Qatar to attract and encourage foreign direct investments.
The forum will outline investment opportunities in priority sectors to pave the way for foreign investments in Qatar, particularly the country's food industries as well as the industrial, tourism, education and sports sectors.
It will also pave the way for the ratification of new agreements and memoranda of understanding that will strengthen bilateral cooperation and contribute to the development of innovative investment areas.
More than 14 fully owned Chinese companies are currently operating in Qatar in addition to 181 joint Qatari-Chinese firms operating in the fields of construction, trade, information technology, furniture and engineering consultancy and other.