QNA News

Minister of Economy Discusses Strengthening Trade, Investment Exchanges with Officials in Argentina / 1

HE Sheikh Ahmed bin Jassim bin Mohammed Al-Thani highlighted the macroeconomic level, noting that the contribution of non-oil sectors accounted for more than 70 percent of GDP in 2016. He expressed his confidence that the ranks that Qatar occupied Reflect the state's position as a major destination for investment in the logistics, sports, food security, tourism, education and health sectors.

The two sides reviewed cooperation ties in the different fields, including economy, trade, investment, energy and gas projects, small- and medium-sized enterprises (SMEs), agriculture and transportation. They agreed to take the necessary steps to promote and develop economic relations with the aim of increasing the volume of trade exchange between them and facilitating the flow of goods and investments between the two countries.

In addition, the two sides agreed to accelerate the ratification of an agreement on the protection and promotion of mutual investments and enforcing it as soon as possible. They also agreed on the need to conclude the signing of the agreement on avoidance of double taxation, and the need to increase communication between the private sector on both sides by the establishment of the Qatari-Argentine business council.

At the end of the session, HE Sheikh Ahmed bin Jassim bin Mohammed Al-Thani and HE Travers signed the minutes of the meeting.

The first session took place at the level of technicians and experts in Doha in May, with the two sides discussing cooperation ties in various fields, including economy, trade, investment, banking, SMEs, agriculture, transportation, health, education, science, technology and culture. They agreed then to take the necessary steps to promote and develop economic relations in order to increase the volume of trade exchange between them and facilitate the flow of goods, services and investments between the two countries.

The minister of economy and commerce had held a bilateral meeting with Argentine Foreign Minister Jorge Faurie, during which HE Sheikh Ahmed bin Jassim bin Mohammed Al-Thani reviewed the results of the meeting of the Qatari-Argentine joint committee and means of enhancing trade and investment exchange as well as bilateral relations and ways of developing them.

The two sides commended the results reached through the joint committee between the State of Qatar and Argentina and agreed on the importance of ratifying the convention on the protection and promotion of investment and the signing of the agreement on avoidance of double taxation. They also agreed on the need to continue efforts in the committee's framework to advance joint cooperation between the two countries on all fronts.

HE Sheikh Ahmed bin Jassim bin Mohammed Al-Thani held a reception ceremony for leading Argentinean companies, with more than 60 companies from different fields in presence. During the event, HE the minister reviewed the advantages of the Qatari economy and the investment opportunities available in all sectors. He also touched on the investment law and the advantages that it provides for foreign investors, including the possibility to own up to 100 percent of the capital in many sectors.

On the sidelines of the ceremony, HE the minister of economy and commerce held bilateral meetings with a number of leading companies in the fields of food, energy, banking and real estate. The meetings discussed the available investment opportunities and the state's priorities in investment, especially in the field of food and pharmaceutical industries as well as other priority fields in the State of Qatar. They also touched on the possibility of establishing trade partnerships or direct investment ownership of 100 percent for these companies.

The meetings come as part of the efforts of the Ministry of Economy and Commerce to attract investments and major companies to operate in the country. (QNA)