DOHA: Qatari small and medium enterprises (SMEs) signed tentative deals worth around QR150m during the recently concluded 15th World Export Development Forum (WEDF). The two-day forum, hosted by Qatar Development Bank (QDB), was organised under the supervision of the Ministry of Finance by the International Trade Centre.
“We are really proud, that SMEs managed to achieve many tentative deals worth up to QR300m. The share of Qatari SMEs was nearly 50 percent, an estimated value of QR150m,” said Abdulaziz bin Nasser Al Khalifa, CEO of Qatar Development Bank. “This clearly reflects the ability of Qatari SMEs to compete both domestically and internationally and that we are on the right track in supporting and assisting them in reaching new markets and proving the quality of Qatari products,” he added.
Following two days of meetings between companies from across the world, 90 letters of intent were announced cutting across a variety of sectors.
Pledges were made among the food and beverages, plastics, services and tourism sectors.
More than 700 people from 92 countries attended the event, including 26 least developed countries. Five trade promotion organisations from Bangladesh, Egypt, Georgia, Nigeria and Vietnam, signed an agreement to support trade development among each other.
“I would like to extend my gratitude to Prime Minister and Interior Minister H E Sheikh Abdullah bin Nasser bin Khalifa Al Thani for embracing this global event under his patronage. I would also like to thank ITC Executive Director Arancha González for organising this exceptional event,” said Abdulaziz bin Nasser Al Khalifa.
“The success of this forum, which comes to the Middle East for the first time, represents the strategic importance of Qatar as a commercial bridge between continents. The WEDF has showcased the support we provide to the small and medium enterprises sector, in line with the Qatar National Vision 2030,” he added.
QDB and ITC also signed a Memorandum of Understanding where ITC will develop a ‘Strategic Trade Development Roadmap’ to maximise the competitiveness of Qatari small and medium enterprises.
The World Export Development Forum consisted of four plenary sessions and four parallel breakout sessions. In addition, structured and informal B2B meetings allowed participating SMEs to meet potential customers, suppliers, and investors.
During the two-day event in Doha, speakers addressed the unique challenges and opportunities faced by small and medium enterprises in developing countries and economies in transition.
They explored how these businesses, which account for the bulk of employment around the world, can be empowered to use international trade and investment to drive growth and job creation.
The Peninsula
