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Qatar & Czech Republic look to boost bilateral trade


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The Peninsula, 10 April 2018

The economic and trade relations between Qatar and the Republic of Czech are growing rapidly in the past few years, said QC Vice Chairman Muhammed bin Ahmed bin Towar Al Kuwari. He noted that their trade volume reached last year $187m, while it hit $102m in 2013.

This was revealed during a meeting hosted by the chamber with a trade mission from Czech led by the chairman of the foreign section in Czech chamber of commerce IljaMazanek.

Junior deputy minister of foreign affairs of the Czech Republic for the section of Non-European countries, economic and development Ivan Jancarek and non-resident Ambassador of the Czech Republic Martin Dvorak were present in the meeting.

The growth in trade volume encourages businessmen from both countries to look for profitable investment opportunities and establish trade alliances and joint ventures, bin Twar pointed out.

Underlining Qatar’s economic strength, QC’s vice chairman said that despite the unfair siege imposed on the country, it managed to achieve positive growth rates last year. It overcame all negative impacts, while its GDP grew by 2 percent in 2017 with a forecast to raise with 2.8 percent in the current years according to reports of the World Bank.

He said that the siege prompted the private sector to intensify internal investments and establish new productive enterprises in all sectors particularly in food security and building materials.

There are ample investment opportunities in which both countries’ businessmen can cooperate. Czech companies are welcomed to participate in the 2022 World Cup projects, he noted.

Qatar proceeds ahead in its strategic plans, particularly in economic diversification to achieve its National Vision 2030. Outwards investments represent one pillar of the economic diversity plans.

Czech is full of promising investment opportunities which attract Qatari businessmen. This requires further cooperation among both countries businessmen for the advantage of building economic alliances that serve both economies, he added.

On his part, Ivan Jancarek said that the good relations that tie Qatar and Czech serve as starting point to enhancing trade between the private sector in both countries.
Czech businessmen are interested in establishing investments in Qatar, he noted.

Jancarek noted that economic situation in Europe and GCC is witnessing numerous challenges, assuring that this requires intensifying efforts to promote economic and trade cooperation between Qatar and Czech.

He expected that their relations will see more economic alliances and partnerships in light of the continuous dialogue between business communities in both countries.

He noted that Czech economy witnessed high growth rates, where the GDP grew last year by 4 percent compared to its value in 2016. The Czech economy is ranked the 10th in Europe.

The visiting delegation apprised the Qatari side of the investment opportunities in Czech and extended an invitation for Qatari businessmen to Czech for investments.

Martin Dvorak said that the private sector in Qatar and Czech aspire to expand cooperation horizons and tap tremendous potentials both countries enjoy, noting that the time is opportune for economic alliances between Qatar and Czech firms.

The delegation comprises representatives from global companies in sectors of energy, mining, health, pharmaceuticals and medical equipment, affirming their keenness on exploring the investment opportunities in the Qatari market.

The Peninsula

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