Doha: Qatar Chamber signed five Memoranda of Understanding (MoUs) with various organizations from Hong Kong on Monday. The agreements were established with the Hong Kong General Chamber of Commerce, the Federation of Hong Kong Industries, the Hong Kong Investment Authority, the Hong Kong Trade Development Council, and the Hong Kong Banking Association. Additionally, the Qatar International Centre for Conciliation and Arbitration (QICCA) signed an MoU with the Hong Kong Bar Association.
According to Qatar News Agency, these agreements were signed during a meeting attended by Qatar Chamber and HE John Lee, Chief Executive of the Hong Kong Special Administrative Region of the People's Republic of China. HE Minister of Finance Ali bin Ahmed Al Kuwari, HE Chairman of Qatar Chamber Sheikh Khalifa bin Jassim Al-Thani, several members of the Chamber's Board of Directors, and a group of prominent Qatari businessmen also participated in the event.
In his remarks, HE Chairman of Qatar Chamber Sheikh Khalifa bin Jassim Al-Thani praised the strong and growing relationship between Qatar and Hong Kong, emphasizing mutual trust, shared economic goals, and a joint commitment to creating new opportunities. He highlighted the interest in deepening cooperation across various sectors, particularly in trade, investment, finance, and smart industries. Trade exchange between the two sides witnessed a 70 percent growth, reaching QR 2.2 billion in 2024, compared to QR 1.3 billion in 2023.
Sheikh Khalifa also discussed Qatar's broader trade ties with China, noting that the total trade volume exceeded QR 80 billion in 2024, with QR 62 billion representing exports, primarily natural gas and refined oil products. He commended Hong Kong's achievements as a leading economic and financial center and its role as a pivotal trade gateway with an open and dynamic economic environment.
Qatar Chamber's Chairman emphasized the Chamber's commitment to strengthening cooperation with the Hong Kong business community and exploring joint investment opportunities. He outlined Qatar's economic prospects in sectors such as artificial intelligence, infrastructure, financial services, advanced technology, energy, smart industries, and high-quality modern services. Sheikh Khalifa also mentioned Qatar's reforms to enhance its investment climate, including an advanced regulatory framework, strategically located free zones, and tax exemptions.
Chairman of the Hong Kong Trade Development Council (HKTDC), Peter Lam, emphasized the growing trade and investment cooperation between Hong Kong and Qatar. He expressed eagerness to showcase commercial opportunities and highlighted Hong Kong's strategic role as a gateway to the Chinese market.
Meanwhile, Qatar Chamber hosted a roundtable meeting with HE John Lee, attended by several Chamber Board Members. The meeting focused on enhancing bilateral cooperation, investment climate, and partnership opportunities in sectors such as financial and professional services, infrastructure, and technology.
HE QC chairman commended the MoU between Qatari and Hong Kong companies, indicating the Qatari business community's interest in bolstering relations with Hong Kong in various sectors. QC board member Mohamed bin Ahmed Al Obaidli noted promising sectors for cooperation, especially financial and technological sectors, and welcomed investments from all countries.
Presentations were delivered by Invest Qatar and the Hong Kong General Chamber of Commerce during the meeting.