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Riyadh, February 23 (QNA) - The Qatari-Saudi Business Council convened in Riyadh, Saudi Arabia on Sunday.
The meeting was chaired by Chairman of Qatar Chamber (QC), HE Sheikh Khalifa bin Jassim Al-Thani and HE Chairman of the Saudi side Hamad bin Ali Al Shuwaier, in the presence of HE President of the Federation of Saudi Chambers Hassan bin Moejeb Al Huwaizi.
Both sides discussed a range of shared issues, especially those related to streamlining the procedures of bilateral trading exchange, forging businesses and deliberating on enhancing avenues for shared investments.
HE Chairman of QC underlined the strength of the Qatari-Saudi ties that have long been and will forever remain a strong and unyielding bulwark in advancing the path of development, growth, and prosperity for the two sisterly nations.
His Excellency noted that this meeting stands as one of the numerous fruits of these outstanding ties, highlighting that this convention is a compliment to the previous meetings that were intended to chart a more integrated and prosperous economic future capable of capitalizing on the potential and opportunities available.
He highlighted that the meeting is part of the keenness of the two wise leaderships in the two countries to advance these relationships and strengthen the cooperation frameworks in all economic, trading and investment sectors, particularly with respect to the private sector.
The Qatari business community is always committed to advancing cooperation and partnership avenues with the Saudi side, His Excellency pointed out, calling on the Qatari and Saudi businessmen to get familiarized with the investment opportunities in diverse fields and capitalize on the attractive investment climate available, along with the infrastructure, modern financial system and advanced legislation in the two nations.
His Excellency underlined that the robust investment climate in the two countries in all sectors elevates new heights for cooperation and achieves the sustainable growth which all are aspiring to, highlighting that this point will be laid out as a key theme in the Qatari-Saudi business forum slated for Monday.
He hoped that the council would remove all obstacles for the growth of trade exchange and expedite the flow of commodities and merchandise between the two sisterly countries.
Stemming from this point, QC underscores its enduring commitment to offering all support for businessmen and investors and creating an environment conducive for fostering trading and investment partnerships, His Excellency added.
He expressed gratitude to all those engaged in preparing this meeting, which would serve as a launching pad for new projects and partnerships that enhance the regional and global standing of the two brotherly nations.
For his part, HE President of the Federation of Saudi Chambers Hassan bin Moejeb Al Huwaizi noted that there are significant opportunities for cooperation between business sectors of both countries. He highlighted Qatar's experience in hosting the World Cup, through which the Saudi side can benefit. He also underscored the importance of achieving the economic integration between both countries.
HE Chairman of the Saudi side Hamad bin Ali Al Shuwaier said that Saudi-Qatari relations are going through a fundamental stage, and there is interest from both countries in strengthening relations at all levels, especially economic ones, noting that the State of Qatar and the Kingdom are among the most important economic countries in the region.
He expressed his eagerness for the private sector to play a greater role in strengthening economic relations. He highlighted that the opportunities created by Saudi Vision 2030 and Qatar Vision 2030 necessitate the activation of an initiative aimed at identifying opportunities, disseminating economic information, and promoting them within the Saudi and Qatari business sectors.
Al Shuwaier highlighted the significant achievements of the business council, including its role in increasing trade exchange and joint investments between Qatar and Saudi Arabia by more than 120 percent.
The council has facilitated the signing of several agreements across various sectors, organized five forums to strengthen economic relations and promote trade opportunities, launched multiple initiatives to market Saudi and Qatari products, fostered industrial integration, and established specialized task forces for key sectors in both countries, he added.
He also noted that a work plan is being developed to enhance economic cooperation, address obstacles hindering bilateral trade growth, and coordinate joint events.
The Qatari-Saudi Business Council is scheduled to be held on Monday, with wide participation from Qatari and Saudi businessmen and government agencies. The participating Qatari delegation includes about 100 businessmen. The meeting will discuss ways to enhance cooperation in the commercial and economic fields, and review the investment climate and opportunities available in both the State of Qatar and the Kingdom of Saudi Arabia. (QNA)
