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Qatar proposes fivefold trade growth

Qatar proposes fivefold trade growth
ID : N-724 Date : 2017/11/26 - 10:36

(Persia Digest) – The Minister of Industry, Mines and Trade of Iran has announced a proposal by Qatar of a USD 5BN ceiling for trade between the two countries, and said: “Currently, this amounts to less than USD 1BN.”

Following a visit with the Qatar Economy Minister, Mohammad Shariatmadari stated: “Iran's total exports to Qatar in the last seven months amounted to nearly USD 97MM, and the volume of contracts negotiated by the two sides in the technical and engineering sector is just under USD 1BN.

Shariatmadari continued: “Due to specific regional circumstances, Qatar is increasingly interested in developing its all-inclusive relations with Iran.”

Shariatmadari reiterated: “In 2022, the World Cup Championships will take place in Qatar which makes a significant market for the export of technical and engineering services to this country.”

He went on to continue: “Joint cooperation in these areas can increase in preparation for the games.”

He expressed hope that the two sides would exponentially increase their trade volumes, which grew by almost 120% in the past few months, and hit higher rates.

Increased exports of foodstuffs and building materials to Qatar

Following the meeting, the Qatar Ministry of Economy also stated: “Iran is an important route for goods from other countries, such as Turkey and Azerbaijan, to reach Qatar by the land.”

Jassim bin Muhammad al-Thani announced: “The meeting focused on increasing the volume of trade between Iran and Qatar and removing all obstacles to the development of relations.”

According to this Qatari official, trade between Iran and Qatar has grown significantly, mainly in the exports of foodstuffs and building materials from Iran to Qatar.

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