Qatar And Algeria Trade Doubles In Three Year, Reaches Qr297m In 2023

(MENAFN- The Peninsula) Deepak John | The Peninsula

Doha, Qatar: Qatar-Algeria Business Meeting reflects the qualitative development in Qatari-Algerian relations under the guidance of the leadership of the two brotherly countries. Algeria looks forward to a solid and fruitful partnership with Qatar, which will lead to an increase in trade, said Minister of Trade and Export Promotion of the Republic of Algeria H E Tayeb Zitouni, yesterday.

The trade exchange between Qatar and Algeria has doubled in three years reaching QR297m last year, compared to QR132m in 2020 which emphasises the private sector's key role in enhancing trade and economic cooperation between the two countries.

The meeting held on the sidelines of the Algerian Products Exhibition addressed ways to enhance economic and commercial relations between the two fraternal countries, as well as the investment climate and opportunities available on both sides.

It was hosted by Qatar Chamber (QC) in collaboration with the Algerian Chamber of Commerce and attended by H E Mohamed bin Hassan Al Malki, Undersecretary of the Ministry of Commerce and Industry and the Chamber's delegation was led by Rashid bin Hamad Al Athba, Second Vice Chairman of QC and included board members Dr Mohamed bin Jawhar Al Mohamed and Shaheen Al Mohannadi.

Minister of Trade and Export Promotion of the Republic of Algeria H E Tayeb Zitoun, Undersecretary of the Ministry of Commerce and Industry H E Mohamed bin Hassan Al Malki, Second Vice Chairman of QC Rashid bin Hamad Al Athba with other officials touring the exhibition.

Speaking during the event, Minister Tayeb Zitouni called on Qatari investors to explore Algeria's evolving investment environment. He noted that about 11 major Qatari companies have significant investments in Algeria.

Also, addressing the meeting, Rashid bin Hamad Al Athba highlighted the well-established and distinguished fraternal relations between both countries. He said, these relations have seen remarkable development in recent years across various fields, especially in the economy, trade, industry, energy, and technology.

The two countries have made great strides in developing their cooperation through mutual visits and the signing of memorandums of understanding and cooperation agreements, Al Athba noted. He called on the Qatari and Algerian private sectors to establish new alliances and partnerships across various economic sectors, affirming that QC encourages Qatari investors to explore opportunities in Algeria and form partnerships with their Algerian counterparts.

He affirmed that the holding of the first Algerian Products Exhibition in Doha, with the participation of 150 Algerian companies, would enhance cooperation between Qatari and Algerian companies.

Kamal Mouly, President of the Algerian Economic Renewal Council, stated that Qatar and Algeria have historical relations that have been significantly strengthened in recent years. Mouly noted that the exhibition highlights that Algerian companies offer products of high quality that comply with international standards. During the meeting, the Investment Promotion Agency (IPA) made a presentation on the investment climate in Qatar, while the Algerian Investment Promotion Agency (AIPA) presented the business climate in Algeria, as well as its export and transportation capacities.

Speaking to The Peninsula at the exhibition, Seddik Cheriet, Founder and Manager of inventCorp, said,“We at inventCorp specialise in development of custom software for B2B and offer solutions such as custom ERP systems, CRMs, production management and property management systems. So it's about providing the most flexible and customizable option that will ensure the project of our clients succeed by offering a balance between a good size of project scope as well as the necessary focus to make that scope work.”

Regarding the exhibition being hosted in Qatar, he said,“I see plenty of potential with good marketing of events like this. There's lots of possibility for integration and especially that Qatar has a vibrant investment economy.”

“We arrange different solutions for clients ranging from conventional to unconventional, from conventional systems to AI based systems. We also want to partner with incubators and accelerators in the country to provide startups with development credit so that they can build their prototypes,” he added.

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