A number of Asian markets that reported growth in trade relations with Qatar last year are now set to further increase their exports to the Qatari market.
Indonesia, a trillion-dollar economy which is also the largest in South East Asia, is seeking to triple its trade volume with Qatar to $3bn in the next three years while maintaining an economic growth above 5 percent by increasing its exports.
According to Farhan Al Sayed, President of the Qatar-Indonesia Business Council (QIBC), total trade volume between Qatar and Indonesia, which has grown by 154 percent to $877m in 2018 from $346m in 2017, is set to cross the $1bn-mark this year.
“Indonesia is a G20 member, the largest Islamic country and largest economy in South East Asia. Trade between both countries is expected to surpass $1bn in the coming new year. And we will have very diversified business relations in the future.
Also, the Qatari economy has picked up in all sectors, thanks to the wise leadership of the Amir HH Sheikh Tamim bin Hamad Al Thani. Things are really moving fast. Lots of international delegations are arriving almost on a daily basis to Qatar. Qatar Chamber is in action all the time, as well as the business communities are busy trying to make deals,” Al Sayed said while talking to The Peninsula recently.
Qatar-Thailand diplomatic relations which will have its 40th anniversary this year may soon find new areas of cooperation, particularly in the food security sector, said Thailand’s Ambassador to Qatar, Nathapol Khantahiran. He added that plans are underway to increase trade volume between the two countries.
“There are plans to increase Thai exports to Qatar. Since Thailand is best known for food security, we are seeking more opportunities to provide more halal food products to the Qatari market. At the moment, the big supermarkets like Lulu, Al Meera, or Mega Mart are the main importers and they have representatives. We shall introduce more products, and within the next two or three years, we’ll see more Thai presence in the Qatari market,” added Khantahiran.
To date, Qatar is Thailand’s third-largest trading partner in the Middle East. Total trade volume between both countries witnessed a 30 percent growth to QR12.8bn in 2018 from QR10bn in 2017, according to data released by the Qatar Chamber (QC).
China, Qatar’s second-largest source of imports and second-largest destination of exports is also seeking to expand its trade cooperation with Qatar. According to the latest figures from the Planning and Statistics Authority (PSA), Chinese exports to Qatar reached almost QR1.2bn, a share of 12 percent in November 2019, while Chinese imports from Qatar reached QR3.3bn and a share of 15 percent in November 2019.
“There are new strategic opportunities before us. Our cooperation enjoys a very good structure with oil and gas as a core, infrastructure as an important focus, and financing and investment as new growing points. In China, we are now developing a quality-oriented economy, rather than a speed-oriented economy. We’re also implementing the innovation motivated development strategy and there are numerous opportunities on this,” China’s Ambassador to Qatar, Zhou Jian said in Doha recently.
He added that China, which is the world’s largest LNG consumer, is seeking to expand its LNG cooperation with Qatar, the world’s largest LNG producer.