19/11/2018 08:16 AST

The bilateral economic cooperation between Qatar and South Africa has great potential to expand and deepen in various fields as both the economies offer great opportunities of investments, especially in the light of the good relations enjoyed by the two countries, noted a senior official of Qatar Chamber (QC) yesterday.

Mohamed bin Towar Al Kuwari, First Vice-Chairman of QC, the country’s oldest and largest private industry representative body, said that Qatar and the Republic of South Africa enjoy good bilateral relations dating back to 1994 and have strengthened over the years.

This came during a meeting with the members of the visiting South African business delegation headed by the Ambassador of South Africa to Qatar Faisal Mousa.

“Qatar is an important trading partner to South Africa in the Middle East region. Their current trade volume reached $361m (QR1.31bn) in 2017. Also, the South African investments in Qatar have grown over the past few year, particularly in the energy sector, which are estimated at $9bn,” he added.

The QC official affirmed that Qatar has managed to create an attractive investment climate and achieved a remarkable economic growth thanks to its stable and balanced policies and its openness to other economies of the world.

It has succeeded in developing a world-class infrastructure over the past few year. It has provided lots of investment incentives and conducted many legislatives reforms, he pointed out. Qatar has many mega projects in several fields, including schools and hospitals, parks and resorts, electricity and water projects, transport and infrastructure projects, food, agricultural and industrial projects.

He invited South African companies to participate in these projects and establish partnerships and joint ventures with their Qatari counterparts, especially in projects related to the Qatar 2022 Fifa World Cup, noting that South Africa has successfully hosted the 2010 World Cup and this opens new areas of cooperation between both sides in this regard.

He also said that the Chamber urges Qatari businessmen to explore the investment opportunities available in South Africa in various sectors. The South Africa ambassador said that Qatar and South Africa have developed their relations and there are many mutual visits between both sides. Qatar has managed to overcome the blockade successfully and it has developed its relations with world countries. “We congratulate Qatar on this steadfastness, confidence and challenge during this crisis,” he noted.

Ambassador Mousa pointed out that both countries can cooperate in food security projects, expressing his country’s preparedness to provide Qatar with all equipment and technologies required for developing this sector.

A presentation on South African economy, investment climate and opportunities was delivered for the potential investors.

The Peninsula

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