Qatar, Bulgaria to strengthen ties in all fields

DOHA: Qatar seeks to strengthen cooperation and partnership with Bulgaria in all fields, including trade and investment, noted the  Minister of Economy and Commerce H E Sheikh Ahmed bin Jassim Al Thani in his opening address at the Qatar-Bulgaria Economic Forum in Sofia, yesterday.
Both the nations are working to create innovative ways and new areas of cooperation to achieve mutual interests.
 The Minister of Economy and Commerce, and his Bulgarian counterpart Emil Karanikolov inaugurated the forum organised by the Ministry in cooperation with the Bulgarian Agency for the Promotion of Small and Medium Enterprises.
The forum is being held within the framework of the official visit of the Emir H H Sheikh Tamim bin Hamad Al Thani to Bulgaria.
The forum brought together a number of officials, dignitaries and prominent businessmen from both sides, including Sheikh Khalifa bin Jassim Al Thani, Chairman of Qatar Chamber; Tsvetan Simeonov, President of Bulgarian Chamber of Commerce and Industry; Gabriela Kozareva, Executive Director of the Bulgarian Agency for the Promotion of Small and Medium Enterprises; and Stamen Yanev, Executive Director of the Bulgarian Investment Agency, along with more than 300 businessmen, investors and government officials from both countries.
The forum was also attended by chief executives of major Qatari companies in the fields of trade and industry, oil and gas, investment, food, contracting, medical equipment, health, medicines, automobiles, agriculture, engineering, building materials, e-commerce, and other sectors, who discussed investment opportunities and potential joint ventures.
The forum aims at enhancing Qatari–Bulgarian economic, trade and investment cooperation, and opening up new prospects for cooperation between representatives of the private sector in both countries in a bid to launch investment projects that serve the interests of both Qatar and Bulgaria.
The Minister highlighted the friendly Qatari–Bulgarian relations that date back to the 1990s, reflecting both countries’ keenness on promoting cooperation across all fields.
He also stressed the important role that bilateral agreements and memoranda of understanding in the economic, trade, investment and technical collaboration fields played in enhancing bilateral trade, which reached $24m in 2017.
Sheikh Ahmed said Qatar looks forward to working together with Bulgaria to bolster partnership in trade and investment areas, according to a clear framework that serves both countries’ economic aspirations, and contributes to establishing new and innovative areas of collaboration.
Commenting on the resiliency of Qatar’s economy, the Minister noted that Qatar has emerged stronger and more economically independent than ever before despite the global economic uncertainties and regional challenges, epitomised by the illegal blockade on Qatar that began on June 5th, 2017, a blockade aimed at undermining Qatar’s position as an economically independent and sovereign state.
In fact, the illegal blockade has presented an opportunity for Qatar to make its economy more accessible to the world, Sheikh Ahmed said. He stressed that the Qatari economy has continued its stable performance, enhancing its competitiveness and overcoming all obstacles thanks to the systematic policies established by the wise leadership, which serve to stimulate all economic sectors to increase their productivity.
The Minister also highlighted the Qatar’s robust macroeconomic fundamentals, and real GDB growth rate, which stood at 2 percent in 2017.
According to the World Bank, Qatar’s real GDP growth is expected to increase by another 2.6 percent in 2018, in line with the government’s efforts to bolster foreign investment, Sheikh Ahmed added.
“Qatar is today one of the most investment-friendly countries in the region thanks to its balanced policies and economic decisions, as well as its strategic position, which allows the country to become a trade hub for countries across the region and worldwide,” the Minister said.
The accompanying Qatari delegation also organized a workshop on potential joint ventures, and investment opportunities in the tourism and transport sectors, as well as challenges.
The workshop brought together Salem Al Kubaisi, Chief Corporate Services Officer at Katara Hospitality, and Ibrahim Al Mannai, Executive Director for Consultant Services at Qatar Development Bank.
On the sidelines of the forum, Qatar Chamber and the Bulgarian Chamber signed an agreement to establish a joint business council. Sheikh Ahmed and Bulgarian counterpart witnessed the signing ceremony.
The agreement was signed by the Chairman of Qatar Chamber, and President of the Bulgarian Chamber.
The agreement is expected to play an important role in promoting bilateral trade and economic relations, and bolstering cooperation between the private sector on both sides.