DOHA: Minister of Economy and Commerce H E Sheikh Ahmed bin Jassim Al Thani yesterday announced that the economic ties between Qatar and the United Arab Emirates (UAE) is growing fast and the bilateral trade volume in 2015 touched QR26.1bn (about $7.17bn).
The Minister, in his opening address at the Qatar-UAE Economic Forum, which kicked off yesterday in Abu Dhabi, stressed on the strength of economic and commercial ties between the two countries.
He said that the bilateral relations between the two countries are witnessing fast growth which is not only benefiting the two countries but also help achieve the common interests of all the GCC member states.
The Minister said that the deepening and strengthening of bilateral relations are reflected on the level of investments made by public and private sector companies from both sides in Qatar and the UAE.
The Minister noted that the UAE is Qatar’s fifth biggest trading partner and some 1,074 companies with UAE capital shares are operating in Qatar while nearly 4,200 Qatari businesses operate in the UAE.
The Minister also said that the number of daily flight services between Qatar and the UAE is growing fast which has been constantly enhancing the connectivity between the two countries providing travelers much better option than ever before.
The Minister also highlighted that Qatar government has issued new laws and legislations that encourage
investment and ease of doing business to create an attractive environment for investing in a wide range of sectors.
The Minister said that Qatar market is open for different types of economic activities which will further accelerate the trade exchange between the two countries.
In his concluding remarks, Sheikh Ahmed expressed hope that the forum will promote and develop economic ties and open up opportunities for the Qatari and UAE business sectors to play more effective role in the economies of both countries and benefit from available investment opportunities so as to achieve the desired economic diversification and bring growth and prosperity to the two countries and their peoples.
