Doha: The Qatari-Kuwaiti Business Forum was held yesterday at Kuwait Chamber of Commerce and Industry in the presence of Qatar Chamber chairman Sheikh Khalifa bin Jassim bin Mohamed Al Thani, and Kuwait Chamber of Commerce and Industry chairman Ali Mohamed Al Ghanim and a large number of businessmen in both countries.
Sheikh Khalifa bin Jassim bin Mohammed Al Thani praised the deep-rooted Qatari-Kuwaiti brotherly relations, adding that the ties between the two brotherly countries are strong, well-established and characterised by ties of blood and closeness and common destiny. These relations were developed over the past years under the wise leadership of the leaders of the two countries, Emir H H Sheikh Tamim bin Hamad Al Thani, and Emir of Kuwait H H Sheikh Sabah Al-Ahmad Al-Jaber Al Sabah, he said.
He said that the total trade between Qatar and Kuwait reached about QR2.5bn in 2017 compared to QR2.3bn in 2016 with an 8.7 percent growth. Qatar exported to Kuwait QR1.7bn of goods during last year, while the value of imports from Kuwait reached about QR800m.
He said that the investment relations between the two countries’ businessmen have witnessed rapid growth in recent years. The number of Kuwaiti companies fully-owned by Kuwaiti investors in Qatar reached 132 companies by the end of last year (2017) with a total capital of QR480m, while the total number of joint Qatari-Kuwaiti companies operating in Qatar is about 261 companies with a total capital of about QR2.1bn, bringing the total number of joint Kuwaiti-Qatari companies to about 393 companies with a total capital of about QR2.6bn. He said that the forum will discuss ways of boosting relations between the two countries’ business sectors, increasing trade exchange between them, exploring investment opportunities available in Qatar and Kuwait, and possible alliances between Qatari and Kuwaiti businessmen as well as establishing joint ventures in Qatar and Kuwait.
