The Qatari-Argentinian roundtable conference was held here yesterday. Minister of Commerce and Industry H E Ali bin Ahmed Al Kuwari and Argentina’s Minister of Foreign Affairs and Worship, Jorge Marcelo Faurie, attended the discussions. Senior officials and businessmen from both countries were present.
During the discussions, H E Al Kuwari highlighted the deep relations between Qatar and Argentina, which began in the 1970s and are characterized by a regular exchange of official visits.
“These visits reflect a keenness to strengthen cooperation across numerous fields, particularly on the trade and investment levels,” the Minister said in his opening speech at the roundtable conference, which was organized by the Ministry of Commerce and Industry in cooperation with the Ministry of Foreign Affairs.
H E Al Kuwari emphasized the importance of the roundtable, noting that discussions built on the outcomes of previous meetings in Doha and Buenos Aires.
The Minister said Qatar sought to further bolster bilateral trade, which has grown to QR1.2bn in the last 10 months of this year — a 62 percent increase compared to 2016.
He also voiced hope in the promotion of joint investments across an array of sectors, in line with existing, mutually beneficial Qatari-Argentinian collaboration. These include a 2016 agreement on the promotion and protection of mutual investment, and a 2018 agreement on the avoidance of double taxation, an agreement on economic and trade cooperation, as well as several memoranda of understanding in the fields of sports, tourism, scientific research and culture, H E Al Kuwari noted.
H E Al Kuwari urged the exploration of new areas of cooperation to promote bilateral trade and investments, while highlighting the important outcomes of the Qatar–Argentina Joint Commission for Trade and Economic Cooperation in December 2017.
The Minister stated that the roundtable conference comes at a time of considerable geopolitical uncertainty, noting that Qatar has managed to overcome challenges, and is well-positioned to present Argentinian investors and businessmen with promising opportunities across various industries.
Thanks to its strategic location between East and West, Qatar offers Argentinian investors the opportunity to engage in regional trade, and contribute to ambitious Qatari infrastructure projects in preparation for the 2022 FIFA World Cup, H E Al Kuwari explained.
The Minister added that Argentinian investors looking to operate in Qatar will benefit from numerous incentives within the framework of the country’s business-friendly environment. H E Al Kuwari highlighted Qatar’s advanced ranking in the latest World Economic Forum’s Global Competitiveness Report 2018.
The Minister emphasized the key amendments that Qatar introduced to a number of existing business legislation, as well as initiatives to streamline the issuance of commercial and industrial licenses and speed up the renewal of existing ones. These new regulations will further solidify Qatar’s position as a regional trade, H E Al Kuwari stressed.
The Minister concluded his remarks by emphasizing the promising prospects for Qatari-Argentinian private sector cooperation, noting that Qatar’s business-friendly investment environment will serve as an advanced platform for Argentinian businesses looking to invest in the region.
The meeting brought together Mohammed bin Ahmed Towar Al Kuwari, Qatar Chamber First Vice-Chairman, along with representatives of Qatari Businessmen Association and a number of senior officials. Carlos Hernandez, Argentina’s Ambassador to Qatar, along with CEOs of leading Argentinian companies also attended the conference.
H E Ali bin Ahmed Al Kuwari, and Jorge Marcelo Faurie held a meeting to discuss the promotion of bilateral ties and partnerships. H E Al Kuwari emphasized the importance of activating bilateral agreements, particularly the agreements on the promotion and protection of mutual investment, and the avoidance of double taxation, which will contribute to promoting trade and encouraging businessmen from both sides to establish joint investment projects that serve the economic interests of both countries.
For his part, Argentina’s Minister of Foreign Affairs and Worship praised the remarkable progress in terms of the development of bilateral trade and investment relations, and commended efforts by both governments to strengthen bilateral cooperation mechanisms.
Faurie also called on Qatari investors and businessmen to tap investment opportunities in Argentina across various sectors, including food and agricultural production and smart systems.
The Argentine delegation delivered a presentation on their country’s economic incentives. The presentation touched on major economic reforms and initiatives adopted by the government, Argentina’s national production strategy, the growth of its GDP and investment sector, the advantages of agricultural production, the government’s new financial program, the growth of foreign trade and Argentinian exports.
The conference also featured bilateral meetings between businessmen from both countries, during which participants reviewed investment opportunities in Qatar and Argentina and discussed measures to develop sustainable partnerships in line with shared economic objectives.
Earlier, H E Al Kuwari held a meeting with Jorge Marcelo Faurie. Discussions touched on the promotion of bilateral Qatari-Argentinian relations and the development of joint cooperation in the fields of trade, investment and industry.
Additionally, developments that the Qatari economy has witnessed over the past years were discussed. Both sides reviewed investment opportunities across all sectors, as well as the legislation adopted by the State and the initiatives launched to support the private sector, which will bolster Foreign Direct Investments and attract a growing number of Argentinian companies to the Qatari market.
Qatar and Argentina enjoy close economic and trade relations. Argentina ranks as Qatar’s 33th largest trade partner with a total of QR1.2bn worth of traded goods in 2017.
The Peninsula
13/12/2018
