DOHA: H E Dr Mohammed bin Saleh Al Sada, Minister of Energy and Industry, said here the other day that exports to South Korea represented 20 percent of Qatar’s total exports. Liquefied Natural Gas represented a third of those exports. Speaking at the Qatari-South Korean Economic Forum, the Minister said that bilateral trade volume was at $27bn in 2013, making South Korea the second biggest trade partner to Qatar.
Additionally, the Minister said there were 34 Korean companies operating in Qatar with a combined capital exceeding $1bn. Joint Qatari-Korean companies on the other hand are at a total of 115 companies working with a capital of $2bn.
He said that economic partnership was an important bridge that brought bilateral relations. On the forum, the Minister said that having a host of business personalities from both countries meet will help expand the scope of bilateral cooperation.
The President of South Korea, Park Geun-hye, said that the forum will be an important opportunity to exchange ideas on issues of common interest. The president also highlighted the distinguished bilateral diplomatic ties that started in 1974 and are reflected in the strong bilateral economic cooperation today.
Geun-hye said the two countries already have strong cooperation in the energy and infra-structure projects. She noted that Korean companies are event present in Qatari projects related to electricity production and sanitation.
On Qatar’s organisation of the World Cup 2022, the president stressed her confidence in Qatar’s capabilities of producing a tremendous edition of the competition. She added that South Korea has a great experience after hosting World Cup 2002, something that can make the Far East country of great help. She also said that South-Korean companies are keen to participate in preparing the services, logistics and infrastructure as Qatar prepares for hosting the World Cup.
The forum, organised jointly by the Qatari Chamber of Industry and Commerce and its Korean counterpart, will work towards enhancing cooperation between the private sector of the two countries.
Qatar Chamber of Commerce and Industry (QCCI) Chairman Sheikh Khalifa bin Jassim Al Thani praised the contribution of Korean companies in the establishment of many development projects not only in Qatar, but also in other GCC states.