DOHA: A number of Qatari banks have applied for licences to set up branches in neighbouring Saudi Arabia, which is the largest and most populous GCC country.

The Qatar Chamber of Commerce and Industry (QCCI), which has taken a large trade delegation to Saudi Arabia, says top on its agenda during its members’ meetings with Saudi officials and bankers will be the above issue.

Sheikh Khalifa bin Jassem Al Thani, the QCCI chairman, who is leading a 126-member business delegation from here to the neighbouring country, told Qatar News Agency that a number of Qatari banks were keen to set up operations in Saudi Arabia.

“We are going to discuss this issue with Saudi officials and bankers,” he said.

He also suggested that exhibitions of Qatari and Saudi products should be held in the two countries periodically to help improve trade links between the two sides.

Saudi Arabia is the second largest trade partner of Qatar in the GCC, with annual imports from there totalling QR5bn.

The delegation members, who also include eight businesswomen, earlier called on the Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz and he called on Qatari and Saudi businessmen to invest in Islamic countries.

Sheikh Khalifa, meanwhile, said six committees were being set up to help improve trade between the two countries in various sectors, including industry and energy and real

estate.