UAE and Qatar explore trade opportunities

27/05/2015 01:01 AST

Sultan Bin Saeed Al Mansouri, Minister of Economy, led the UAE trade and investment mission which concluded a visit to Doha, Qatar.

The visit came in response to the invitation of Sheikh Ahmed Bin Jassim Al Thani, Minister of Economy and Commerce, for a briefing on investment opportunities in Qatar in various fields for Emirati businesspersons and investors.

The UAE delegation included 50 officials from economic and trade departments in the local and federal departments as well as a huge number of investors and businesspersons.

The Minister of Economy noted that the visit was part of the framework to enhance bilateral relations between the two fraternal countries in the economic, trade and investment domains and in pursuance of boosting opportunities to work together in the GCC, as well as strengthening integration.

During the meeting, Mansouri and Thani discussed avenues for enhancing economic and trade co-operation between the two fraternal countries as well as an increase in trade exchange. They stressed the importance of the role being played by the private sector in the two countries to develop joint co-operation, especially in the trade and investment fields.

Mansouri also noted the keenness of the UAE led by President His Highness Sheikh Khalifa Bin Zayed Al Nahyan to enhance bilateral co-operation with Qatar in all sectors.

He added that this would contribute to boosting efforts of the GCC states in working together.

He also indicated that the UAE companies and investors have the potential and capabilities as well as cumulative investment experience which enables them to support the march of development being witnessed by Qatar.

Mansouri pointed out that the two countries will witness international events, such as Expo 2020 Dubai and World Cup in Qatar in 2022, both international events that are set to open hundreds of investment opportunities in the two countries.

He reiterated that the economic and trade ties between the two countries have been witnessing continuous growth with the foreign trade volume between the two sides in the past ten years rising 587 per cent from $936.2 million in 2005 to $5.5 billion in 2014.

WAM