Riyadh: The Qatari-Saudi Business Council convened in Riyadh, Saudi Arabia on Sunday. The meeting was chaired by Chairman of Qatar Chamber (QC), HE Sheikh Khalifa bin Jassim Al-Thani and HE Chairman of the Saudi side Hamad bin Ali Al Shuwaier, in the presence of HE President of the Federation of Saudi Chambers Hassan bin Moejeb Al Huwaizi.
According to Qatar News Agency, both sides discussed a range of shared issues, especially those related to streamlining the procedures of bilateral trading exchange, forging businesses, and deliberating on enhancing avenues for shared investments. HE Chairman of QC underlined the strength of the Qatari-Saudi ties that have long stood as a strong and unyielding bulwark in advancing development, growth, and prosperity for both nations.
His Excellency noted that this meeting is one of the numerous results of these strong ties, highlighting that this convention is a compliment to previous meetings aimed at charting a more integrated and prosperous economic future. He emphasized the keenness of both countries’ leadership in advancing these relationships and strengthening cooperation frameworks in all economic, trading, and investment sectors, particularly in the private sector.
The Qatari business community is consistently committed to advancing cooperation and partnership avenues with the Saudi side. His Excellency encouraged Qatari and Saudi businessmen to familiarize themselves with investment opportunities in various fields and capitalize on the attractive investment climate, infrastructure, modern financial system, and advanced legislation available in both nations.
His Excellency emphasized that the robust investment climate in both countries elevates cooperation to new heights and achieves sustainable growth, a key theme in the upcoming Qatari-Saudi business forum. He expressed hope that the council would remove obstacles to trade growth and expedite the flow of commodities and merchandise between the two countries.
QC underscores its enduring commitment to offering support for businessmen and investors, fostering trading and investment partnerships. His Excellency expressed gratitude to all involved in preparing this meeting, which serves as a launching pad for new projects and partnerships.
HE President of the Federation of Saudi Chambers Hassan bin Moejeb Al Huwaizi noted significant opportunities for cooperation between the business sectors of both countries. He highlighted Qatar’s experience in hosting the World Cup as beneficial for the Saudi side and underscored the importance of achieving economic integration.
HE Chairman of the Saudi side Hamad bin Ali Al Shuwaier mentioned that Saudi-Qatari relations are at a fundamental stage, with interest from both countries in strengthening economic relations. He stressed the importance of the private sector in strengthening these ties and highlighted opportunities created by Saudi Vision 2030 and Qatar Vision 2030.
Al Shuwaier outlined the significant achievements of the business council, including a 120 percent increase in trade exchange and joint investments, the signing of agreements across various sectors, and the organization of five forums to strengthen economic relations. He noted that a work plan is being developed to enhance economic cooperation and address obstacles hindering bilateral trade growth.
The Qatari-Saudi Business Council is scheduled to meet on Monday, with wide participation from Qatari and Saudi businessmen and government agencies. The Qatari delegation includes about 100 businessmen, and the meeting will discuss ways to enhance cooperation in commercial and economic fields and review investment opportunities in both countries.