Minister of Economy and Commerce, H E Sheikh Ahmed bin Mohammed Jassim Al Thani (second left), and Sheikh Khalifa bin Jassim bin Mohammed Al Thani (left), Chairman of Qatar Chamber at the forum.
Minister of Economy and Commerce H E Sheikh Ahmed bin Jassim bin Mohammed Al Thani has reaffirmed the importance of bolstering investment relations between Qatar and South Africa.
The Minister was addressing the Qatar-South Africa Business Forum in Pretoria yesterday, which coincided with the visit of Emir H H Sheikh Tamim bin Hamad Al Thani to the Republic of South Africa. The forum was attended by the Foreign Minister H E Sheikh Mohammed bin Abdulrahman Al Thani and Qatar Chamber Chairman Sheikh Khalifa bin Jassim bin Mohammed Al Thani; along with representatives from the Ministry of Energy and Industry, Qatari Diar company, Widam Food, Katara Hospitality, Qatar Development Bank and Qatar Ports Management Company, QNA reported.
Sheikh Ahmed stressed that the two countries have great potential to increase cooperation in various fields, pointing out that the value of Qatar's exports to South Africa reached about $390m in 2016, while the value of South African exports of goods to Qatar accounted for $104m.
The current levels of trade do not reflect the real potential for cooperation between the two countries, especially as Qatar's share of South Africa's total exports is only about 1 percent and Qatar's share of imports of fuel, chemicals and plastics in South Africa is only 2 percent .
Touching on economic opportunities available to investors in Qatar, he pointed out that the country has many mega projects in several fields, including schools and hospitals in the education and health sectors, new parks and resorts, electricity and water projects, waste management projects, transport infrastructure projects, food processing, agriculture and fisheries, as well as Lusail city development project, and manufacturing facilities and warehouses.
Sheikh Ahmed said that the economic agreements signed between the two sides could be used as a means to connect the economies of the two countries further, given the strength of these agreements and the goals they seek to achieve. Qatar can be the gateway to the products of South Africa in the common market of the Gulf Cooperation Council countries as well as the Greater Arab Free Trade Area, he said, adding that Qatari nationals can invest in competitive sectors in South Africa, particularly in the areas of tourism, precious stones and agribusiness.
