QC First Vice Chairman: Trade Exchange with India Reached $10bn Last Year

Doha, September 25 (QNA) - Qatar Chamber (QC) first vice chairman Mohamed bin Ahmed bin Twar said that trade exchange between the State of Qatar and India reached last year more than $10bn, noting that India is an important trade partner to Qatar. "It is the third largest export destination for Qatari products. Both countries trade volume reached last year more than $10bn," he said during a meeting hosted by Qatar Chamber with an Indian trade delegation. Qatar Chamber (QC) first vice chairman pointed out that a total of 24 fully owned Indian companies and an estimated 6000 Qatar-India joint ventures operate in various sectors of the Qatari economy including infrastructure, information and communication technology, energy and other areas to the mutual benefit of both sides. Qatar-India cooperation covers all areas not only economic fields. The year 2019 will be celebrated as the Qatar-India Year of Culture, he said. Elaborating Qatar's success to beat the siege, he said that Qatar has successfully overcome the unjust siege imposed by three neighboring countries thanks to the wise vision of our leadership and the strength of our national economy. Qatar's economy is open and welcomes all world investors and there are a host of investment incentives that draw foreign investments, he added. He affirmed Qatar Chamber's welcome to the establishment of trade partnerships between Qatari and Indian companies, and stressed it's encourage to Qatar businessmen to explore the investment opportunities available in India. HE Ambassador of India to the State of Qatar P. Kumaran said that Qatar and India enjoy historic relationship and their cooperation relations cover all aspects, adding that Qatari exports to India have increased to 87% last year. Indian community in Qatar is the largest. It positively participates in the development projects being held in Qatar for infrastructure and for the 2022 World Cup, he said. He assured that Qatar has made great progress in labour and business legislations and laws, stressing his country's interest to boost cooperation between the Indian private sector and its Qatari counterpart. CEO of M/s. K-flex India Co. Triviyan K. Kalra, head of the delegation, praised the QC's efforts in bringing Qatari and Indian businessmen together to review boosting economic relations between both countries. Triviyan K. Kalra noted that India is full of trade opportunities that attract Qatari investors, calling on Qatari businessmen to visit India to find out cooperation opportunities with their Indian counterparts in hydrocarbon, tourism, IT and other sectors. (QNA)