Qatar and Bulgaria have vowed to increase the value of both countries’ trade volume by enhancing economic ties and forging more co-operation in the private and public sector levels.
Speaking in the presence of Bulgarian President Rumen Radev at the ‘Qatari-Bulgarian Business Forum’ held in Doha on Thursday, HE the Minister of Commerce and Industry Ali bin Ahmed al-Kuwari underscored the visit of His Highness the Amir Sheikh Tamim bin Hamad al-Thani to the Bulgarian capital of Sofia last year, saying it was a significant time to explore investment opportunities in various fields of interest.
According to al-Kuwari, trade exchange between Qatar and Bulgaria increased from QR72.9mn in 2016 to QR82mn in 2018. He pointed out that the volume of trade exchange does not reflect the economic potential of Qatar and Bulgaria, noting that "these elements should be an incentive to strengthen trade and investment relations within a clear vision that serves the common interests."
Radev said in his speech that the value of Qatar-Bulgaria trade volume “was not in line” with both countries’ expectations, but noted that there is still more room to improve co-operation ties.
Bulgarian President Rumen Radev. PICTURE: Ram Chand
Qatar Chamber first vice chairman Mohamed bin Towar al-Kuwari also spoke at the forum and stressed that both countries enjoy “distinguished relations in all aspects of co-operation,” which were developed in previous years through “mutual visits and co-operation in all fields.”
Al-Kuwari also lauded the interest of Radev to meet Qatari businessmen, and expressed hope that the meeting would contribute in augmenting bilateral relations between both countries, and to represent a platform for businessmen to strengthen their co-operation ties.
He also noted that Bulgaria hosted a number of Qatari investments in tourism, agriculture, and infrastructure. Al-Kuwari noted that there are eight Bulgarian companies operating in Qatar’s trading and contracting sectors.
Al-Kuwari emphasised that the State of Qatar “has managed to build a strong, dynamic economy,” which is “one of the most fast-growing economic in the world.” He said Qatar was able to overcome “all regional and global challenges” by implementing a sound economic strategy aimed at diversifying income sources and supporting the private sector to be an active partner in achieving the Qatar National Vison 2030.
“Qatar has built an attractive investment environment based on strong infrastructure and a series of legislative reforms, as well as numerous incentives offered by the government to attract more investments to all sectors,” he said.
Al-Kuwari called on Bulgarian companies to take advantage of the business climate available in Qatar and establish joint enterprises with Qatari companies. He also urged Qatari businessmen to explore investment opportunities in Bulgaria, which he described as “an attractive destination for investment.”
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