H.E. Mr. Ali bin Ahmed Al-Kuwari, Minister of Commerce and Industry and Acting Minister of Finance, met today with a businessmen delegation from the Qatari-French Economic League (Cadran) and the international branch of the Movement of the Enterprises of France (MEDEF), currently visiting the country.
The meeting was attended by H.E. Sheikh Ali bin Jassim Al-Thani, Ambassador of the State of Qatar to the French Republic.
The meeting featured a discussion of trade, industrial, and investment relations between the two countries, as well as ways to progress them considering the close ties that bind the two friendly countries.
During the meeting, the Minister of Commerce and Industry and Acting Minister of Finance stressed that Cadran and MEDEF represent an important milestone in economic relations between Qatar and France and a new building block in bilateral ties.
Additionally, they comprise an additional building block in the well-established economic relations between the two countries. H.E. Mr. Al-Kuwari pointed out in this regard the close and historical Qatari-French relations, which have contributed to deepening and strengthening friendship ties between the two sides.
The trade exchange between the two countries has played an important role in strengthening economic and trade relations, as the volume of trade between the two nations amounted to 1.36 billion USD in 2020.
France is one of Qatar’s most important strategic partners, H.E. Mr. Al-Kuwari explained, adding that the number of French companies operating in Qatar had reached 418, including 68 companies wholly-owned by the French side, 339 companies established in partnership with the Qatari side, 8 companies licensed by the Qatar Financial Centre, and 3 representative offices of the Republic of France.
During the meeting, H.E. the Minister of Commerce and Industry and Acting Minister of Finance further stated that Qatar had sought to accelerate the implementation of initiatives and projects aimed at enhancing its economic openness and supporting its position as an ideal destination for business and investment. Qatar has made progress on this endeavor through drafting and issuing legislations that stimulate the foreign private sector, such as the law regulating the investment of non-Qatari capital in economic activity, and the investment free zones law, both of which allow foreign investors ownership of up to 100%, H.E. Mr. Al-Kuwari elaborated.
Additionally, Qatar has allowed non-Qatari individuals and businesses real estate ownership in several vital economic and tourist areas in the country, H.E. Mr. Al-Kuwari further pointed out, adding that the State had issued a law to regulate public-private partnership in order to increase the contribution of private sector companies in building, financing, operating, and managing State development projects. In this regard, H.E. called on French companies to benefit from these legislations and to make more investments in the Qatari market.
For their part, Cadran and MEDEF praised during the meeting, the distinguished relations between the French Republic and the State of Qatar, stressing the keenness of the French government and private sector to strengthen relations for the benefit of both countries.
Cadran is an independent, non-profit organization established in 2015 that includes in its membership major Qatari commercial institutions operating in France and major French companies operating in Qatar, as well as significant figures therein.
Cadran aims to organize various academic and social events annually to promote dialogue and exchange of views between Qatari and French companies in order to gain a better understanding and comprehension of future investment projects.
MEDEF is an employer federation founded in 1998. It represents French companies and is greatly important at the level of the French social debate. It seeks to represent French companies vis-à-vis State institutions and unions. It has more than 750,000 member firms.
Source: Ministry of Commerce and Industry