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The Peninsula
Qatar- Korea trade relations have been solid this year and has been better than last year said Korea Trade Investment Promotion Agency (Kotra) Director General Hanseung Kim.
Trade relations between the two countries have grown over the years and we are confident it will expand further in the coming years, Kim said with optimism of a better year in 2023.
Trade between Qatar and Korea stood at around $5.98bn during the first five months this year and expectations are that it would be much higher than last year's according to the kotra Director General.
“We hope to send around six to seven trade missions from Korea to Qatar in 2023 which will be a major boost for trade rela-tions between the two countries,” Kim said adding that Qatar has been a good destination for trade and investment for South Korean businesses which have gained immensely from the investor-friendly environment in Qatar.
Trade between the two coun-tries was around $12bn last year.We are confident trade this year will cross last year's mark,” the kotra DG said.
We see enormous potential for bilateral trade to grow expo-nentially in the coming years, Kim said while stressing the importance of promoting invest-ments between the two countries which is yet to grow.
Qatar and Korea have been the best partners and have con-tributed to each other's devel-opment since beginning diplo-matic ties in 1974.Qatar is the largest LNG exporter to Korea and Korea's second largest trading partner in the Middle East.
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