inister of Economy and Commerce H E Sheikh Ahmed bin Jassim Al Thani (left) and Nematullo Hikmatullozoda, Minister of Economic Development and Trade of Tajikistan, signing a cooperation agreement on the sidelines of the third session of the Joint Economi
DOHA: Minister of Economy and Commerce H E Sheikh Ahmed bin Jassim Al Thani has noted that the economic and investment relations between Qatar and Tajikistan are expected to grow significantly in the coming years as both sides are working closely to boost the bilateral cooperation in several promising sectors of both the economies, including trade, investment, civil aviation and tourism.
The Minister and his Tajik counterpart, Nematullo Hikmatullozoda, Minister of Economic Development and Trade, jointly presided over the third session of the Joint Economic, Commercial and Technical Cooperation Committee between the two friendly countries, which was held in Tajikistan’s capital Dushanbe from August 29-31, 2018.
“We look forward to strengthening our efforts to increase cooperation between the State of Qatar and the Republic of Tajikistan on the economic, trade and investment levels and to establish practical mechanisms that will encourage the Qatari and Tajik business sectors to establish joint and successful investment projects”, noted Sheikh Ahmed.
He also welcomed the participation of businesses from Tajikistan in the upcoming international products exhibition to be held in Doha in October, pointing out that this event is an ideal opportunity to discuss ways to develop trade and investment partnership between businessmen from both the countries.
The joint committee meeting resulted in several resolutions and recommendations which include taking the necessary steps to open respective skies for their airlines and expedite the process of signing a Memorandum of Understanding to allow the rights to commence direct airline services between both the countries.
From the Qatari sides, the meeting was attended by representatives of the Ministry of Administrative Development, Labor and Social Affairs, Ministry of Education and Higher Education, Ministry of Municipality and Environment, Ministry of Energy and Industry, Ministry of Culture and Sports, Qatar Central Bank, Qatar General Organization for Standardization, Qatar Civil Aviation Authority, Hassad Food Company, Qatar Airways, Qatar Chamber, Nebras Power, Qatar Development Bank and other entities.
During the meeting, official from both sides reviewed the bilateral relations in various fields and held discussions on enhancing the level of cooperation for mutual interests.
Sheikh Ahmed said that the two countries have witnessed the historic relations since 1990s. He also noted that the MoUs signed between the two countries helped open new horizons for cooperation and strengthened bilateral cooperation between Qatar and Tajikistan.
The Minister also noted that the two countries seek to work jointly in order to promote the partnership on the commercial and investment levels, in accordance with clear frameworks in line with the economic trends of the two countries.
He pointed out that in this regard the importance of cooperation between the two sides in the field of air transport and the opening of direct airlines services will help enhance the volume of trade and tourism exchange.
This will also allow both the countries to expand operations in the neighboring markets and provide easy access to new markets.
The Minister also wished to contribute to building bridges of communication between the business sectors in both countries, thus enhancing the investments of the Tajik companies in Qatar and enabling them to benefit from the promising investment opportunities offered by the Qatari economy.
Providing an insight on the macroeconomic outlook of the Qatari economy, Sheikh Ahmed said that the national economy continued its balanced growth, enhancing its competitiveness and overcoming all challenges, thanks to the systematic policies established by the wise leadership, which helped stimulate the various economic sectors to increase their productivity.
He also highlighted that in the year 2017 the GDP (at constant prices) was estimated at $222bn, registering an annual growth of 1.6 percent compared to $ 218bn in 2016, which is evident that the blockade did not affect the economy.
In addition, Qatar’s foreign trade increased by 16 percent in 2017 to reach $103bn, compared with $89bn in 2016. The total exports of the country rose by 18 percent to $67bn in 2017 compared to $57bn in 2016.
He pointed out that the trade balance of the country achieved a surplus of about 50 percent in 2017, rising from $25.18bn in 2016 to $37.5bn in 2017.
He also pointed out that these economic indicators reflected positively on the status of Qatar in many international classifications.
The Minister, referring World Bank reports, said that Qatar’s real GDP growth is expected to rise to 2.8 percent in 2018 and an average of 3 percent in the period 2019-2020 as the country moves towards full support for foreign investment.
