Minister calls for bolstering Qatar-Belgium trade

26/05/2016 05:28 AST

Minister of Economy and Commerce, H E Sheikh Ahmed bin Jassim Al Thani has called for further bolstering of trade, investment and cooperation between Qatar and Belgium.

Speaking at the second round of Qatar Belgium Economic Forum in Brussels yesterday Sheikh Ahmed bin Jassim underlined the important role being played by Belgium companies in various development projects in Qatar. There are 31 companies in Qatar which are either totally controlled by Belgium or have joint venture with Qatari companies.

He called for partnership in investment to insulate the economy of two countries from oil price volatility. The Minister hoped that the forum will lead to an increase of trade relations between Belgium and Qatar and new investments between the business communities.

The trade volume between Qatar and Belgium reached $1.6bn in 2015, showing a rise of one percent compared to previous year. Exports from Qatar to Belgium in 2015 stood at around $1.3bn while Qatari imports from Belgium increased by 7.3 percent to $264m in 2015 compared to previous year.

The Minister said relations between Qatar and Belgium have strengthened by the official visits and bilateral agreements in different areas, especially in economy, trade and investment. These development has had a positive impact on the bilateral trade between two countries.

He stressed on the need to exert more efforts to expand and develop economic, trade and investment cooperation between the two countries.

The accompanying delegation with the Minister included Chairman of Qatari Businessmen Association, Sheikh Faisal Bin Qassim Al Thani, representatives of Ashghal, Qatar Rail, Supreme Committee for Delivery & Legacy (SC), Ministry of Energy and Industry, Qatar Foundation, Qafar Financial Centre, Katara Hospitality, Manateq, Qatar Airways and Nebras Power.

Sheikh Faisal bin Qassim Al Thani said the forum has brought together large number of businessmen, companies, institutions to exchange ideas and opinions regarding mutual investment and to arrange future visits of the businessmen of the two countries. He invited Belgium businesswomen to Qatar to meet their counterparts.

Pieter De Crem, Secretary of State for Foreign Trade, Belgium welcomed the Qatari minister and the accompanying delegation. He praised the growing trade relations between the two countries. He hoped that the forum will further develop and strengthen cooperation and trade between Qatar and Belgium.

The Peninsula