Iran, Qatar strengthen economic ties, set USD1B trade goal
Date
12/15/2024 4:19:42 AM
(MENAFN) The 10th Iran-Qatar Joint Economic Committee meeting wrapped up on Thursday, December 12, in Doha, with representatives from both countries vowing to strengthen their economic relations and raise trade to USD1 billion annually.
The session, co-led by Iran's Minister of Energy Abbas Ali-Abadi and Qatar's Minister of Commerce and Industry Sheikh Faisal bin Thani bin Faisal Al Thani, aimed at expanding collaboration in various areas, such as energy, infrastructure, and commerce.
The gathering included four specialized committees: Trade (covering trade, finance, and insurance), Infrastructure (transportation, agriculture, and information and communication technology), Social and Cultural (tourism, healthcare, and research), and Energy (water, electricity, oil, and gas). Over 60 delegates from both public and private sectors took part in the talks.
Ali-Abadi underscored the strategic significance of the alliance, stating, "Today's economic relations between Iran and Qatar require a strategic outlook." He pointed out that current trade between the two nations is around USD200 million annually, with ambitions to increase this by five times to USD1 billion in the near future.
The official also drew attention to a major energy initiative involving a 200-kilometer undersea power line to link Iran and Qatar's electricity grids. The feasibility study for the project, which began in March 2023, is nearing completion, and work will proceed after receiving approval.
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