International Diplomat Magazine

UAE-Qatar Business Forum begins

UAE-Qatar Business Forum begins
UAE-Qatar Business Forum begins

(Abu Dhabi) – The second UAE-Qatar Business Forum kicked off at Ritz-Carlton Hotel Abu Dhabi.
The forum is organised by the Ministry of Economy in co-operation with the Abu Dhabi Chamber of Commerce and Industry and the Qatari Ministry of Economy and Commerce.
Sultan bin Saeed Al Mansouri, UAE Minister of Economy, opened the event with his Qatari counterpart, Sheikh Ahmed bin Jassem bin Hamad Al Thani, Minister of Economy and Commerce of Qatar.
Among others present were Mohammed Thani Murshid Al Rumaithi, President of the UAE Federation of Chambers of Commerce and Industry, Sheikh Khalifa bin Jassim bin Mohammed Al Thani, Chairman of the Chamber of Commerce and industry of Qatar, Abdullah Ahmad bin Abdullah Al Saleh, Under-Secretary of the Ministry of Economy for Trade and Industry, senior officials from both countries and a number of investors and businesspersons.
The forum focussed on ways to promote and build a variety of economic partnerships, support the goals of sustainable development, and open up wider horizons for mutual investments to enhance the joint co-operation and consolidation of the efforts of the desired economic integration among the GCC countries.
It reviewed bilateral investment opportunities and potentials of developing joint plans and programmes of action to translate the opportunities into partnerships on the ground, particularly small and medium enterprises and the innovation sector.
The forum also focussed on the importance of strengthening the role of the private sector and the business community to open horizons and new markets for economic co-operation and trade exchange, and to keep the UAE and Qatari national companies posted about the investment opportunities.
Al Mansouri stressed the importance of holding this forum, which represents the unique interactive platform to promote an atmosphere of partnership, economic interdependence and revamp bonds of brotherhood between the two countries and the two fraternal peoples.
“We are witnessing today changing economic conditions around the world starting from lower oil prices and a slowdown in some of the major global economies up to the political and security situation in the region and other factors. Hence, we have to accelerate and adopt economic and unitary policies streamline the GCC system,” he said.
He pointed out that despite the remarkable development of the UAE- Qatar economic relations, the trade exchange between the two countries stood at just over AED26.1 billion. He added that the numbers are still below the level of ambitions and aspirations of the wise leadership of the two countries in light of the economic, commercial and investment potential huge owned by the two sides.
The UAE minister said both countries share the economic diversification policies towards building the knowledge-driven economy-based new sources of income away from the dependence on oil. He added that these policies opened wider and promising investment opportunities.
(Courtesy WAM)