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Qatar-Italy trade up 16%: QC Chairman

Qatar-Italy trade up 16%: QC Chairman

Qatar Chamber Chairman Sheikh Khalifa bin Jassim Al Thani said Qatar and Italy enjoy strong relations covering most aspects of bilateral cooperation and noted that their trade volume touched €2.8bn last year, registering a jump of 16 percent compared to €2.4bn for 2017.

Speaking on the sidelines of the Arab-Italian Business Forum held in Milan with strategic partnership with Qatar Chamber, he said the forum provided a brilliant opportunity for developing business and investment between Arab and Italian companies and businessmen.

He noted that Arab countries and Italy enjoy strong friendly relations that contribute to the enhancement of their trade and investment ties especially over the past few years, affirming that the Joint Italian Arab Chamber of Commerce has played an important and effective role in this regard.

“Italy is a distinguished destination for Qatari investments which are distributed in many economic sectors. Foremost of these investments is the Adriatic LNG terminal, which is a partnership between Qatar Petroleum, ExxonMobil and Snam. The terminal provides Italy with 8 billion cubic meters per year, meeting about 10 percent of Italy’s total natural gas demand,” he added.

“There are several Italian companies operating in the Qatari market in various sectors,” he said, assuring that it is the time to increase the number of Italian companies working in Qatar, particularly in light of its economy and preparation for the 2022 World Cup, as well as incentives offered for foreign investors.

Stressing the benefits of siege imposed on Qatar since 2017, he said it was a strong motive for the private sector toward expanding its contribution in the national economy.

Explaining steps taken by the country to overcome the siege, Sheikh Khalifa said that Qatar has adopted an ambitious development strategy in line with its National Vision 2030.

It has adopted numerous flexible economic policies aiming at stimulating local and foreign investments, providing advanced infrastructure as well as offering economic and logistics zones and industrial areas that stimulate foreign companies to enter into the Qatari market.

QC Chairman stressed Qatari businessmen’s eagerness to explore investment opportunities available in Italy and examine the possibility of establishing alliances and joint ventures with their Italian counterparts in both countries.

He expressed the hope this forum would help intensify cooperation between Arab countries and Italy in all economic and trade areas and urge businessmen to build more alliances and partnerships.

Sheikh Khalifa witnessed the signing of two MoU between Qatar Construction Group and two Italian companies, Socomec and Scam beach cleaner. The two agreements were signed on behalf of the Qatari company by Badr Abdul Hamid Mostafawi, General Manager of the Commercial Section of the Qatar Construction Group.