Qatar Sets Excellent Incentives For Robust Businesses In Canada

(MENAFN- The Peninsula) Joel Johnson | The Peninsula

Doha, Qatar: Qatar forges potent pathways for enterprises reinforcing trade and investment partnerships in Canada, said an official.

In an interview with The Peninsula, Yasser Dhouib, Executive Director of The Canadian-Qatari Business Forum (CQBF) said:“There is a tremendous opportunity for the business communities in both countries to strengthen business ties for mutual benefit.”

Yesterday, Amir H H sheikh Tamim bin Hamad Al Thani met with the Prime Minister of Canada, H E Justin Trudeau in Ottawa. Among the other key issues discussed, they explored strengthening bilateral ties across various realms such as investments, economy, and international cooperation.

Dhouib noted that“It is clear that Qatar has put in place some excellent incentives for international businesses to establish a presence. Most Canadian companies are unfamiliar with what Qatar is offering to encourage them to establish a presence in Qatar. There seems to be genuine interest in the SME community in Canada to consider Qatar.”

According to the government of Canada, in 2023, Qatar was the North American country's fourth largest merchandise trade partner in the GCC and ninth most significant partner in the MENA region with a bilateral merchandise trade total valued at $427m (QR1.5bn).

Dhouib stressed“It is perhaps a little early to assess the impact of Qatari government incentives on the decision-making process of Canadian companies. We need to work hard to help create some success stories that will attract greater interest from other possible entrants currently based in Canada.”

Meanwhile, the CQBF Executive highlighted that incorporating AI into health and education would draw more investments in both countries.“Cleantech and Hi-tech with AI technology healthcare and education should be the main attractive niches that are bound to be the main sectors between Qatar and Canada,” he said.

However, Canada's merchandise exports to Qatar last year totaled $227m (QR827.9m), which included mineral ores, aircraft and parts, mechanical and electrical machinery, industrial machinery, and scientific and precision instruments.

Canada's 2023 merchandise imports from Qatar, amounted to $200m (QR729.4m), including mineral fuels and oils, aluminum, and fertilizers, the government data showed.

Accentuating on strengthening business bilateral ties between the two nations across several sectors, the official explained“CQBF is very optimistic about the prospects of increasing trade and investment flows between both countries. Canada has one of the most innovative economies in the world and Qatar is clearly attracting leading technology.”

“Over the next several months, CQBF will be working hard to encourage Canadian companies to explore commercial opportunities in Qatar by attending trade shows on solar technologies, AI, and the internet,” Dhouib reflected.

He further added,“We also want to bring Qatari business leaders to Canada to meet with their counterparts and some of the exciting technology hubs scattered across Canada in venues such as Montreal, Toronto, Kitchener Waterloo, Calgary, Edmonton, and Vancouver. CQBF is excited by the tremendously supportive reaction it is receiving from government and business leaders in Qatar.”

Earlier, the Ambassador of Qatar to Canada, Dr. Khalid bin Rashid Al Hamoudi Al Mansouri in a statement to QNA said that the official visit by H H the Amir this week indicates new strides in Qatari-Canadian relations that saw significant enhancements during the past several years.

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