(MENAFN- The Peninsula) Deepak John |
The Peninsula
Doha, Qatar: Qatar and Kazakhstan have a great potential for commercial partnerships within their private sectors and by maximising investment opportunities in both nations, strategic locations the benefits can be substantial. Qatar provides a crucial commercial gateway for Kazakh industries to access regional markets and Kazakhstan is a prominent and essential destination in Central Asia, discussed officials at the 'Qatari-Kazakh Business Forum' held under the theme 'Partnership and Investments', yesterday.
The forum was held with support of Chamber of Commerce of Kazakhstan, Qatar Chamber, Ministry of Energy of the Republic of Kazakhstan, Ministry of National Economy of the Republic of Kazakhstan and the Joint Stock Company 'National Company Kazakh Invest.
Addressing the forum, Undersecretary of the Ministry of Commerce and Industry (MoCI), H E Sultan bin Rashid Al Khater, said“We are excited to showcase the investment opportunities available in the State of Qatar and the Republic of Kazakhstan and to discuss ways to strengthen cooperation between our private sectors. Together, our goal is to establish robust partnerships and elevate the relationship between our two nations through a comprehensive strategic partnership.”
“Over the last three decades, relations between our two nations have flourished significantly, thanks to the wise leadership of both countries. The State of Qatar regards the Republic of Kazakhstan as a highly promising trade partner particularly in light of the remarkable growth in our trade exchange over the past two years with an impressive increase of over 122 percent between 2021 and 2022,” Al Khater added.
Currently, numerous Kazakh companies are operating in our country, having made important investments in various vital economic sectors in Qatar. It is crucial to highlight the substantial role played by various agreements and memorandums of understanding signed between Qatar and Kazakhstan.
MoCI Undersecretary highlighted the impressive economic progress that Qatar has made in recent years.“Qatar's GDP has seen tremendous growth rising from $125bn in 2010 to approximately $238bn 2022. In 2023 and 2024. Qatar's real domestic product is expected to grow by 2 percent to 2.5 percent with the International Monetary Fund forecasting average growth of 4 percent to 4.5 percent over medium term.”
In the past year, Qatar presented more than 135 investment opportunities in various vital sectors, including business service, services programming, IT systems and financial services. Soon, we anticipate the announcement of even more promising opportunities.“We encourage Kazakh investors and companies to consider these possibilities and the benefits of investing in Qatar,” Al Khater added.
Also present at the meeting were Vice-Minister of National Economy of the Republic of Kazakhstan, H E Abzal Abdikarimov; Ambassador of the Republic of Kazakhstan to Qatar, H E Arman Isagaliyev; and several other dignitaries and a crowd of businessmen from both sides and representatives of several Qatari entities.
During the forum, both sides affirmed the significance of promoting trade and investment cooperation between the two countries.
They also discussed the investment climate and opportunities available in both Qatar and Kazakhstan and emphasised the need to enhance cooperation and partnerships between Qatari businessmen and their Kazakh counterparts.
Also, speaking at the forum QC First Vice-Chairman Mohamed bin Twar Al Kuwari emphasised the private sector's role in revitalising business sectors in both countries and fostering mutual investments. He highlighted that these efforts could contribute to the development of their trade exchanges, which, he noted, are still below the expectations of the two friendly nations.
Al Kuwari emphasised that Qatari investors are keen to explore the numerous investment opportunities available in Kazakhstan, considering it a unique destination in Central Asia with a wealth of prospects.
He also mentioned existing Qatari investments in Kazakhstan, spanning various sectors including infrastructure, gas, agriculture, and mining.
QC First Vice-Chairman also stressed that Qatar Chamber is paving the way for Qatari investors to explore available partnerships with business owners in Kazakhstan and called on Kazakh companies to strengthen their cooperation with Qatari companies and establish partnerships, investments, and joint ventures in Qatar, and take advantage of infrastructure and attractive investment
climate.
In turn, Vice-Minister of Energy of Kazakhstan, H E Alibek Zhamauov, said that the forum offers unique opportunity for businessmen from both countries to review horizons of partnership and cooperation in trade and investment, noting that both countries own tremendous potential and focus on foreign substantiality and high technology.
He stressed the significance to boost cooperation between private sector of both countries, calling businessmen from both countries to strengthen their cooperation in all fields.
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