Qatari-Spanish Business Forum Will Boost Bilateral Trade| MENAFN.COM

Monday, 04 July 2022 06:31 GMT

Qatari-Spanish Business Forum Will Boost Bilateral Trade

(MENAFN- The Peninsula) The Peninsula

Doha: The Qatari Business Association (QBA) participated in the Qatari-Spanish Business Forum, on the sidelines of the official visit of Amir H H Sheikh Tamim bin Hamad Al Thani, to Madrid. 

The meeting was attended by the Spanish Prime Minister H E Pedro Sanchez; Minister of Commerce and Industry H E Sheikh Mohammed bin Hamad bin Qassim Al Abdullah Al Thani; H E Reyes Maroto, Minister of Trade, Industry and Tourism of Spain, and several senior government entities in both countries. 

A high-level delegation attended from the Qatari Businessmen Association headed by Sheikh Faisal bin Qassim Al Thani and his Deputy Sheikh Dr. Khalid bin Thani Al Thani, Sheikh Nawaf bin Nasser Al Thani, board member, and from QBA members Sheikh Faisal bin Fahd Al Thani, Sheikh Muhammad bin Faisal Al Thani, Nabil Abu Issa, Abdul Salam Issa Abu Issa, Ibrahim Jaidah, Sheikh Turki bin Faisal Al Thani, Mohamed Altaf and Sarah Abdullah, Deputy General Manager attended the meeting.

Prime Minister Pedro Sanchez revealed during the opening of the Qatari-Spanish Business Forum that the visit of Amir H H Sheikh Tamim bin Hamad Al Thani to Spain, was a historic visit that resulted in the announcement of major investments to come, in addition to achieving a significant increase in the volume of trade exchange during the next stage. Expressing his happiness for the role played by the Joint Business Council in this regard, President Sanchez stressed out that Qatari investments in the Kingdom are important to the Spanish economy, as several agreements were signed, including an agreement with Qatar Investment Authority and its Spanish counterpart, pointing out at the same time the great role played by Spanish companies in Qatar in several fields, including building stadiums, infrastructure, energy, and environment in response to Qatar Vision 2030.

The Spanish Prime Minister also indicated that Qatar is open to the world and Spain can participate in that openness during the next stage by strengthening partnerships.

Sheikh Faisal bin Qassim Al Thani, Chairman of the Qatari Businessmen Association, said the return of physical direct meetings after two years of the coronavirus pandemic is very important, and the Qatari Businessmen Association is proud of what our country has done while dealing with this global pandemic and preserve the health of citizens and residents, including bringing medical vaccines from Spain.

Sheikh Faisal added that despite COVID-19 pandemic, the Qatari Businessmen Association has worked during the last period with the Spanish side to strengthen the economic partnership between the two countries, and it had multiple meetings with Spanish officials, the most important of which was with the Minister of Foreign Affairs, and resulted in the establishment of the Joint Business Council. The council encouraged the private sector to invest in the fields of media, sports, health care, services and technology.

A number of Spanish companies were also attracted to Qatar to work in a number of sectors of interest to Qatar National Vision 2030, adding the association's determination to continue fruitful cooperation and support the efforts of the two countries.

Sheikh Faisal stated that Qatar is fully prepared to organise the World Cup from now, and it is working hard to make the next edition of the World Cup an ideal one, especially as it is the first of its kind in the Arab world and the Middle East, welcoming the Spanish fans and the business community to cheer for the Spanish team and attend This unique event which will be the start of other global events hosted by Doha in the future.

Sheikh Dr. Khaled bin Thani Al Thani, Chairman of the Qatari-Spanish Joint Business Council, in a speech, on behalf of the members of the Qatari Businessmen Association, expressed his sincere thanks and appreciation to the governments of the two countries for organizing this economic event to get acquainted closely with the investment and trade successes that have been achieved between Doha and Madrid and the partnership prospects that include all economic sectors.

The Minister of Commerce and Industry witnessed signing of an MoU between the Qatari Businessmen Association and Iberdrola Company. From the Qatari side it was signed by Sheikh Dr. Khalid bin Thani Al Thani bin Abdullah Al Thani, Second Deputy Chairman of QBA. From the Spanish side the MoU was signed by Ignacio Galan, Chairman and CEO of Iberdrola Company.

Sheikh Dr. Khalid bin Thani, Deputy Chairman of the Qatari Businessmen Association, stressed out that the relations between the State of Qatar and Spain are well-established from before, as there is close cooperation between the two sides, especially in terms of investment and economic cooperation, expressing his pride in these multi-dimensional bilateral relations, especially that Qatar is one of the largest investors in Spain

Sheikh Khaled said:“We know the Spanish market, as Spain is the third largest destination for foreign investment in Europe and the second in the world in tourism, as a result of the major reforms undertaken by the Spanish government. Employment costs in companies are 29 percent lower compared to the euro area, as well as labor and electricity costs. In addition, most factories are led by the private sector, which makes partnerships easier, and Spain's openness to Latin America gives additional impetus to investments.

Sheikh Khaled indicated that Qatar has diversified its investments in Spain in response to Qatar's 2030 vision, which encourages investments in sports, tourism, clean energy, ports, real estate, media, health care, technology, stock exchange, retail sector, banks and aviation and other vital sectors that bring economic benefit to the two countries. He noted that the official visits between the officials of the two countries during the recent period confirm the keenness of the two governments to develop these bilateral relations and upgrade them to become exemplary, and therefore there is a possibility to achieve a lot in this partnership and to strengthen it, within the framework of the economic recovery plan in Spain and heading towards an innovative and sustainable digital economy, where Qatari investments can have a role.

Sheikh Khaled indicated that his country, through hard work, has been able to achieve a great renaissance on all legislative and logistical fronts and in infrastructure, and is ready to receive Spanish investors due to the great investment incentives it provides to the foreign investor and due to its geographical proximity to large markets in the region.

QBA Second Deputy Chairman Sheikh Dr. Khalid bin Thani Al Thani signing an agreement in presence of Minister of Commerce and Industry H E Sheikh Mohammed bin Hamad bin Qassim Al Thani, Sheikh Faisal bin Qassim Al Thani, Chairman of the Qatari Businessmen Association and other dignitaries.

Sheikh Khalid indicated that the formation of the Qatari-Spanish Joint Business Council includes an elite group of investors, major companies and serious businessmen, and its goal is to improve the role of the private sector in diversifying intra-regional investments in economic fields important for the two countries, in addition to expanding economic, technical and scientific cooperation, exchanging information and creating a healthy business environment that aims to promote the development of commercial and industrial activities in both countries.

Ignacio Galan, head of the Joint Business Council, indicated from the Spanish side that there are strong relations between the State of Qatar and Spain, which include investments and clean energy, in addition to the intertwining in the hospitality sector and airlines.

Galan stresses the continuous cooperation in the relations between the two countries, pointing out that there is an effort to explore opportunities for investment and cooperation in various fields.

Reyes Maroto, Minister of Commerce, Tourism, and Industry, she confirmed that the economic forum between the two countries and the historic visit of H H the Amir to Spain will further deepen the bilateral relations, considering that the relations between the two countries are strong and the trade exchange has increased significantly, and Qatar is the fifth producer of gas in the world. 

Minister Maroto referred to the Spanish private sector, as it participated in the construction of stadiums, metro, gas projects and major infrastructure in the water, energy, environment and civil buildings in the State of Qatar.

The Qatari Businessmen Association signed a memorandum of understanding with the Federation of Businessmen in Spain with the aim of enhancing prospects for strategic cooperation between Qatar and Spain. It aims to promote the development of commercial and industrial activities in both countries.

“We view the Spanish market as a market full of economic opportunities in various sectors,” said Sheikh Khalid bin Thani Al Thani, Deputy Chairman of the Qatari Businessmen Association, calling on Spanish investors to take advantage of the“promising opportunities and favorable environment offered by the Qatari economy, especially with the presence of free zones in Qatar. And to see more Spanish companies come to the Qatari market, wishing to work together to develop our partnerships and explore joint investment opportunities, whether in Qatar or Spain.”

Sheikh Nawaf bin Nasser Al Thani, board member of the association, stressed the trade and investment sector is of great importance in the relations of the two countries, praising the depth and development of the Qatari-Spanish relations.

He pointed out that Qatar is the second largest shareholder in the Spanish stock market, as well as the launch of the Qatari-Spanish Joint Business Council as an important step to strengthen trade and investment relations, noting that Qatari investments are in the most famous companies in Spain such as hotels, real estate, hospitality, and others.


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