Qatar-Saudi Joint Business Council Keen To Enhance Bilateral Relations

Qatar Chamber hosted Sunday the meeting of the Qatar-Saudi Joint Business Council, which was held at the chamber's Doha headquarters.
The meeting was attended by Qatar Chamber chairman sheikh Khalifa bin Jassim al-Thani, Undersecretary of the Ministry of investment in Saudi Arabia Mohamed bin Ahmed al-Hasana, Saudi ambassador Prince Mansour bin Khalid bin Farhan al-Saud, and the Saudi side of the joint council chairman Hamad al-Shuwaier, as well as other joint council members.
Sheikh Khalifa stressed that the formation of the joint council is a culmination of the efforts exerted by both countries' leaderships to further develop economic and commercial ties and open new channels of partnerships between Qatari and Saudi companies.
He also emphasised the robust relations between both nations, noting that economic and trade relations are witnessing significant development, in light of the common desire of business communities to forge alliances and partnerships that contribute to developing the two countries' bilateral trade exchange.
Sheikh Khalifa said trade volume between both countries last year amounted to QR674mn, noting that this level doesn't correspond with the aspirations of both nations. On the role of the joint business council in boosting trade, he said the council has an essential role in enhancing the interests of the private sector in both countries, expanding joint investments, reviewing means to improve the business environment, and overcoming obstacles and challenges facing investors on both sides.
He added that the council will enhance cooperation between the private sectors, especially since the time is appropriate for both parties to cement cooperation and develop trade exchange in light of the tremendous potential available in both countries in various economic sectors and the offered incentives for investments.
Al-Shuwaier praised the deep relations of both countries and the common desire to enhance co-operation and benefit from the economic transformation in both countries by establishing more commercial partnerships and alliances. He noted that trade volume between both countries reached QR800mn in the first half of 2022.
“The council is a new phase in the joint economic work between both sides,” he said, stressing that it will enhance exchange in all economic fields and that both countries have achieved great economic achievements.
Al-Hasana underscored the importance of strengthening relations between both nations in all fields, saying he trusts that the council would boost trade exchange. He said the Saudi Ministry of Investment and the Qatar Investment Authority both chair the Investment, Energy, and Infrastructure Committee of the Saudi-Qatari Co-ordination Council. He said this shows that the committee has put forward a number of important initiatives that stimulate mutual investment between the private sector on both sides.
Prince Mansour expressed his pleasure in the launch of the Qatar-Saudi Joint Business Council, affirming the common intention of both countries to strengthen relations and surpass pre-2017 levels.
Al-Ahsa Chamber of Commerce chairman Abdulaziz al-Mousa invited the Qatari side to attend the 'Al-Ahsa Investment Forum', which will be held in February 2023, while General Secretariat Ebrahim al-Sheikh Mubarak reviewed the investment climate in Al-Ahsa region.

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