Qatar-Russian Business Council Reviews Enhancing Mutual Investments

Doha, April 14 (QNA) - The Qatar-Russian Business Council has organized a meeting in Moscow to discuss strengthening cooperation relations between businessmen of both countries, and ways to develop them in the fields of trade and investment and urged the businessmen of the two countries to establish alliances and joint projects in each. The meeting also reviewed the investment climate and the opportunities available in both countries. The Qatari delegation informed the Russian businessmen on Qatar Chambers activities and roles in the private sector including facilitating business community and attracting foreign investments. The two sides discussed a number of issues of common concern, including the establishment of a joint investment portfolio to support investors to work in Russia and Qatar, as well as contribute to facilitate customs procedures in the context of mutual trade between the parties and study the possibility of applying the system "green corridor" in the supply of Russian products to Qatar. In a joint statement, both parties underscored the importance of the council in streamlining communication between business sectors of both countries and in eradicating any obstacles that might face their joint investment and cooperation and discover the promising investment opportunities. The two sides also expressed their appreciation for the government support for joint cooperation within the framework of the Council. The two sides set the end of the current year as a preliminary date for the next meeting in Qatar. They affirmed the role of the council in supporting the Qatari-Russian Joint Commission On Trade, Economic and Technical Cooperation. They agreed to raise their proposals about developing cooperation between both countries to the commission to address in its coming meeting’s agenda. On the other hand, the Qatar Chamber delegation held a meeting with the Chamber of Commerce of the Russian Federation to discuss ways of enhancing cooperation between the two sides, organizing bilateral business meetings between Qatari businessmen and their Russian counterparts and establishing effective partnerships in the climate encouraging investment and facilities offered by the Qatari government to investors. The trade exchange between the two countries made a big jump in 2018, reaching about 1.1 billion riyals compared to 308 million riyals in 2017, a record high of 240 percent. There are about 46 Qatari-Russian joint venture companies operating in Qatar, active in various economic sectors. (QNA)