Tehran, Doha express commitment to raising bilateral trade to USD1 billion annually
Date
12/15/2024 6:50:08 AM
(MENAFN) The 10th Iran-Qatar Joint Economic Committee meeting concluded in Doha on December 12, with both nations committing to significantly enhance their economic ties and raise bilateral trade to USD1 billion annually. The meeting, co-chaired 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, centered on broadening cooperation in energy, infrastructure, trade, and other key sectors.
The discussions were structured around four specialized committees: Trade, Infrastructure, Social and Cultural, and Energy. These committees focused on a variety of sectors, including commerce, banking, transport, agriculture, tourism, health, and energy-related initiatives. Over 60 representatives from both the public and private sectors of Iran and Qatar participated in the event, signaling the growing importance of bilateral collaboration.
Minister Ali-Abadi emphasized the need for a strategic approach to the two countries’ economic relations. While trade between Iran and Qatar currently stands at around USD200 million annually, both parties are eager to increase this figure fivefold, reaching USD1 billion in the near future. A major part of this effort includes an energy project to build a 200-kilometer undersea power line connecting the electricity grids of the two nations. This initiative, which began in March 2023, is in its final stages of feasibility, with plans for implementation pending approval.
In addition, Ali-Abadi welcomed Qatari investors, proposing annual mutual investments of at least USD1 billion, with a focus on sectors such as energy, transport, healthcare, agriculture, and tourism. This strong push for economic cooperation aims to foster a closer partnership, benefiting both nations and contributing to regional economic stability.
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