Doha: The Qatar-Saudi Joint Business Council held a meeting on Monday at the Qatar Chamber's (QC) headquarters. The meeting was presided over by Qatar Chamber Chairman and Head of the Qatari side HE Sheikh Khalifa bin Jassim Al-Thani, while HE Hamad bin Ali Al-Shuwair chaired the Saudi side, in the presence of members of the council from both sides.
During the meeting, both sides discussed several issues of mutual interest, particularly those related to facilitating trade exchange procedures, simplifying business establishment, and enhancing mutual investments between the two brotherly countries.
In his remarks, HE Sheikh Khalifa bin Jassim bin Mohammed Al-Thani emphasised the continuous development of relations between the State of Qatar and the Kingdom of Saudi Arabia, thanks to the visions and directives of the wise leaderships of both countries.
He noted that these efforts come within the framework of promoting sustainable development and creating joint investment opportunities, highlighting the shared interest of Qatari and Saudi businessmen in expanding markets and engaging in promising projects in both nations.
He pointed out that Qatar National Vision 2030 aligns with Saudi Vision 2030 in their common goals of transforming the region into a global economic and investment hub by building a diversified economy based on innovation and knowledge.
QC Chairman further noted that the Qatar-Saudi Joint Business Council serves as a key platform for strengthening cooperation and partnership between the private sectors of both countries.
He underscored its role in addressing challenges facing businessmen and enabling them to seize promising opportunities in the Qatari and Saudi markets across various sectors, including energy, industry, real estate, and contracting, as well as in digital transformation, innovation, transportation, logistics services, and entrepreneurship.
HE Sheikh Khalifa said that the Council's convening of its meeting for the second time this year reflects the importance of this vital economic platform. He also affirmed the Qatar Chamber's commitment to providing a conducive environment for developing partnerships between businessmen in both countries.
For his part, HE Hamad bin Ali Al-Shuwair, Chairman of the Saudi side of the Joint Business Council, said that the alignment of development visions between the two countries has contributed to accelerating the growth of economic relations and achieving a qualitative leap in trade and investment partnerships between the Saudi and Qatari business communities.
He noted that the volume of trade exchange between both countries has doubled from QAR 2.5 billion in 2021 to QAR 5.5 billion in 2024, while the value of Qatari direct investments in the Saudi economy increased from QAR 9.9 billion in 2021 to QAR 11.5 billion in 2024.
Al-Shuwaier also emphasised that the existence of significant opportunities within the growing framework of integration between the Saudi and Qatari private sectors, particularly in areas such as digitalisation, artificial intelligence, renewable energy, supply chains, real estate development, and various industrial activities.
During the meeting, several presentations were delivered by both sides. Qatar Ports gave a presentation on the Transit Shipments Initiative (Transit), while the Saudi side showcased a number of initiatives, including one on the exchange of experience and expertise in event organisation, a presentation on economic integration between the two countries, another highlighting investment opportunities in the Saudi city of Asir, and a presentation by the Saudi General Authority for Real Estate on property ownership for non-Saudis in the Kingdom.
