Doha, October 23 (QNA) – HE Chairman of Qatari Businessmen Association (QBA) and President of the Qatari-Algerian Business Council for the Qatari side Sheikh Faisal bin Qassim Al-Thani underlined that the economic relations between Qatar Algeria are witnessing remarkable progress, which opens up prospects for promising economic opportunities and partnerships between the two brotherly countries.
In statements to Qatar News Agency (QNA), His Excellency said that bilateral relations between the State of Qatar and the sisterly People’s Democratic Republic of Algeria are witnessing continuous growth, noting that the State of Qatar is the largest Arab investor in Algeria, and is one of the most important global investors as well.
His Excellency stressed that the mutual visits of the leaders of the two brotherly countries and frequent meetings of senior officials and business owners give greater support to these relations, and provide opportunities to consolidate and develop the partnerships achieved so far and the aspirations of the two countries on the way to upgrading relations, especially in their economic aspects.
His Excellency pointed out that the visit of a delegation from the QBA to Algeria in June opened the doors to the private sector and culminated in new projects in the dairy sector, healthcare and tourism, and other projects are being studied in this context.
His Excellency expressed the aspiration of Qatari businessmen to embody their partnerships with their Algerian counterparts, especially in the tourism and agricultural fields, stressing that opportunities have been created for businessmen in the two countries to enhance their cooperation and establish partnerships that serve both parties.
HE Sheikh Faisal bin Qassim Al-Thani said that Algeria has huge potential for investment, therefore QBA welcomes all investment proposals and initiatives from Qatari businessmen to invest in this brotherly country, especially in light of the new investment law which will open the way for more partnerships and new investments.
His Excellency noted that the volume of trade exchange between the two countries during the last five years amounted to about $344.8 million, and the share of Algerian exports amounted to about $25.75 million, while Algerian imports during the same period amounted to $319.05 million.
His Excellency also indicated that investment cooperation between the two countries has witnessed significant progress following the establishment of the “Algerian Qatari Steel” company in Algeria, expressing that it is one of the most important joint projects in the region, which has opened the door wide to strengthening the partnerships between the private sector in the two countries.
The State of Qatar is one of the largest investors in Algeria amounting to 74.31% of the volume of Arab investments.
Statistics indicate that about 169 QatariAlgerian joint ventures are operating in the Qatari market. This number is likely to double in the coming period in light of the availability of many investment opportunities in various economic sectors, especially small and medium industries.
(QNA)