(MENAFN- The Peninsula)
QNA
Amir H H sheikh Tamim bin Hamad Al Thani's European tour, which includes Sweden, Norway, and Finland, marks a new phase in the longstanding relationship between the State of Qatar and these three countries.
The significance of H H the Amir's tour lies in the fact that it aims to enhance ongoing cooperation and focus on developing bilateral relations across various levels, as well as to continue joint efforts to achieve sustainable development goals and promote innovation in strategic sectors. This will, in turn, contribute to advancing economic development in Qatar in addition to Sweden, Norway, and Finland.
Qatars ties to these three countries are exemplary of a fruitful and sustainable cooperation based on building economic partnerships, exchanging investments, encouraging international dialogue, cooperation, and resolving international disputes through diplomatic mediation, in addition to maximizing shared values rooted in justice and human rights.
The Amir's tour is expected to open new channels for further coordination and mutual benefits between Qatar and the three countries through the signing of agreements and Memoranda of Understanding to enhance cooperation, generating new investments and improve trade ties, especially considering all four countries ongoing economic growth and their efforts to diversify their economies and increase revenues from foreign investments, thus, necessitating developing bilateral relations between Qatar and each of the three countries respectively to keep pace with international challenges.
In this context, Deputy Chairman of the Qatari Businessmen Association H E Sheikh Dr. Khalid bin Thani Al-Thani highlighted the significant importance of HH the Amir's tour in paving the way for the private sector to explore investment opportunities in Sweden, Norway, and Finland.
The Deputy Chairman of the Qatari Businessmen Association told Qatar News Agency (QNA) that amid global developments, the State of Qatar is working on diversifying its markets with all countries and economic blocs. He pointed out that Northern European countries are important for the Qatari market, particularly with regards to technology, as several European companies are present in the Qatari market. This makes the visit of HH the Amir timely to further develop bilateral cooperation with these countries, after important visits by Qatari delegations in preparation for a successful European tour.
Sheikh Dr. Khalid bin Thani Al-Thani explained that with dozens of weekly flights between Doha and European capitals, trade exchange is continuously rising and could develop further, as major European companies and brands are present in the Qatari market, including many small and medium-sized enterprises in medical and technological fields.
With Regards to the investment between Qatar and all three countries, as well as the sectors which could experience increased cooperation, His Excellency said that economic relations between Qatar and Sweden, Norway, and Finland respectively have grown significantly in recent years, with dozens of their major companies operating in the Qatari market and investments exceeding USD 11 billion. He also highlighted major partnerships, especially between Qatar and Norway in the energy and aluminum sectors.
Deputy Chairman of the Qatari Businessmen Association H E Sheikh Dr. Khalid bin Thani Al-Thani concluded his remarks to QNA by saying that there is significant movement in the bilateral relations between Qatar and each of the three countries, considering new projects of substantial added value in maritime technology, ICT, and green economy, in addition to projects aimed at enhancing cooperation in tourism, healthcare, among others.
In turn, Professor of Contemporary Politics and History of the Middle East at Qatar University Dr Mahjoob Zweiri said that the Amir H H Sheikh Tamim bin Hamad Al-Thani's visit to Sweden, Norway, and Finland is of great importance given current global circumstances, as it aims to strengthen cooperation between Qatar and these countries, maintaining regional and international peace and security.
Speaking to QNA, Dr. Zweiri said that Sweden and Norway are globally known for their efforts in striving for peace and stability, and have precedents in negotiation and conflict resolution, which aligns with Qatars role as a key player in resolving many global disputes through diplomatic means.
He added that H H the Amirs visit to these countries, which are engaged in peace building and conflict resolution and are concerned with human rights issues pertaining to education and health in conflict areas, will be beneficial in strengthening cooperation between the State of Qatar and those two countries to achieve international and regional peace and security, particularly as they are involved in the Middle East peace process and support the Palestinian people and their legitimate rights.
Dr. Zweiri expected the visit to give a new impetus to cooperation among the four countries in supporting the Palestinian cause, especially after more than ten months of the ongoing aggression against the Gaza Strip.
He pointed out that apart from its political implications, the tour of HH the Amir will also strongly feature economic and cultural components, which will enhance the relationships between Qatar and these countries, which will set the stage for their development in the future, especially in the energy sector.
The Professor in Contemporary Politics and History of the Middle East at Qatar University noted that the tour will also enhance cultural, educational, and academic cooperation among institutions in all four countries, thus, opening a new chapter in their ties based on their shared values of justice and human rights.
According to the latest economic data, the State of Qatar's relations with Sweden, Norway, and Finland have seen notable growth in recent years, with increased cooperation in trade, energy, education, research, and climate change and sustainability-related fields, which reflects their shared desire to strengthen political, economic, and cultural ties, in the service of the interests of all parties amid current global challenges.
Trade between Qatar and Sweden increased by 79 percent in 2023, reaching about QR 1.55 billion, compared to QR 866 million in 2022. Trade between Qatar and Norway also rose to approximately QR 1.3 billion in 2023, an increase of around 80 percent compared to 2022. Additionally, trade between Qatar and Finland reached QR 395 million in 2021, growing by 4 percent compared to 2020.
Around 40 Swedish companies operate in the Qatari market, either with 100 percent capital or through partnerships with Qatari companies, in addition to about 20 Norwegian companies, most of which are involved in the energy and infrastructure sectors, as well as an equal number of Finnish companies.
An increasing number of private sector business forums are bringing together representatives from all four countries, as their shared interests in energy, education, tourism, innovation, and research are converging, thus, giving birth to promising prospects of cooperation, commercial alliances, and joint industrial projects, serving the four countries sustainable development goal.
Agreements on mutual promotion and protection of investments have encouraged increased trade between Qatar and the three countries.
The Qatar Investment Authority has a strong presence in several Swedish, Norwegian, and Finnish companies in key economic sectors such as green technology, innovation, and real estate. Similarly, companies from these three countries have a similar presence and are seeking more opportunities in the Qatari market, with energy and sustainable transport being a central focus, reflecting the four countries' commitment to enhancing industrial and technological cooperation to achieve shared strategic goals.
MENAFN02092024000063011010ID1108625727