Minister of Commerce and Industry and Acting Minister of Finance H E Ali bin Ahmed Al Kuwari (centre) during a meeting with a businessmen delegation from the Qatari-French Economic League (Cadran) and the international branch of the Movement of the Enterp
Doha: Minister of Commerce and Industry and Acting Minister of Finance H E Ali bin Ahmed Al Kuwari yesterday met with a businessmen delegation from the Qatari-French Economic League (Cadran) and the international branch of the Movement of the Enterprises of France (MEDEF), who are currently visiting the country. The meeting was also attended by the Qatari Ambassador to France H E Sheikh Ali bin Jassim Al Thani.
Discussions during the event focused on trade, industrial, and investment relations between the two countries, as well as ways to progress them considering the close ties that bind the two friendly nations.
During the meeting, Minister Al Kuwari stressed that Cadran and MEDEF represent an important milestone in economic relations between Qatar and France and a new building block in bilateral ties. He pointed out in this regard the close and historical Qatari-French relations, which have contributed to deepening and strengthening friendship ties between the two sides.
Trade exchange between both countries played an important role in strengthening economic and trade relations, with bilateral trade between both countries reaching $1.36bn in 2020.
France is one of Qatar’s most important strategic partners, the Minister explained, adding that the number of French companies operating in Qatar had reached 418, including 68 companies wholly-owned by the French side, 339 companies established in partnership with the Qatari side, 8 companies licensed by the Qatar Financial Centre, and 3 representative offices of the Republic of France.
During the meeting, Minister Al Kuwari added that Qatar had sought to accelerate the implementation of initiatives and projects aimed at enhancing its economic openness and supporting its position as an ideal destination for business and investment. These include the new legislations such as the law regulating the investment of non-Qatari capital in economic activity, and the investment free zones law, both of which allow foreign investors ownership of up to 100 percent.
Qatar has also allowed non-Qatari individuals and businesses to own real estate properties in the country, and has issued a law to regulate public-private partnerships.
The Minister went on to call on French companies to benefit from these legislations and to make more investments in the Qatari market.
During the meeting, Cadran and MEDEF praised the bilateral relations between the French Republic and the State of Qatar, stressing the keenness of the French government and private sector to strengthen the relations for the benefit of both countries.
Cadran is an independent, non-profit organisation established in 2015 that includes in its membership major Qatari commercial institutions operating in France and major French companies operating in Qatar, as well as significant figures therein. It aims to organise various academic and social events annually to promote dialogue and exchange of views between Qatari and French companies in order to gain a better understanding and comprehension of future investment projects.
MEDEF is an employer federation founded in 1998. It represents French companies and seeks to represent French companies vis-à-vis State institutions and unions. It has more than 750,000 member firms.
