By Sachin Kumar
DOHA: The total trade between Qatar and Asean (Association of South East Association Nations) countries reached $16bn in 2014. The trade between the two sides is set to rise in coming years, said Wong Kwok Pun, Chairman of the Asean Committee in Doha and Ambassador of Singapore to Qatar.
Pun was speaking at Asean-Qatar Chamber Joint Business Seminar organised at the chamber’s headquarters yesterday. Delivering his opening remarks, he said that Asean, a group of 10 countries, was set up in 1967 to promote cultural, economic and political development in the region. The group offers huge opportunity of Qatar’s businessmen and investors in oil and gas, minerals, forestry and agriculture sector.
Asean’s, in terms of GDP (Gross Domestic Product) is the seventh largest economy in the world and the third largest economy in Asia. It is also a big market with around 622 million people living in the member countries. Asean countries attracted about $136bn Foreign Direct Investment (FDI) across the globe, in which FDI from The United States was around $24bn.
Apart from being a business destination, the member countries are also attractive destination for tourists. About 105 million tourists visited Asean countries in 2014, out of which half of the visitors were from Asia. These countries also have half of the population below the age of 30 years.
The Ambassador said that the group has signed Free Trade Agreements with countries such as China, Japan, South Korea, India, Australia and New Zealand. These agreements were signed to integrate Asean economies with global economy.
Mohamed bin Ahmed bin Twar Al Kawari, Vice Chairman, Qatar Chamber said that Qatar is keen to promote trade and cooperation with Asean members. He invited businessmen and investors from Asean to explore opportunity in Qatar. During the seminar, representatives from Brunei, Indonesian, Malaysian, Philippines, Singapore, Thailand and Vietnam Embassy gave presentations highlighting opportunities for Qatari businessmen and investors. The Peninsula
