Qatar, Saudi discuss development of trade exchange, partnership

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Doha, Qatar: Minister of Commerce and Industry, H E Sheikh Mohammed bin Hamad bin Qassim Al Thani, met with Minister of Industry and Mineral Resources, H E Bandar bin Ibrahim Alkhorayef in the Kingdom of Saudi Arabia, and the accompanying delegation who are currently visiting Qatar.

Minister of Commerce and Industry confirmed during the meeting that the State of Qatar and the Kingdom of Saudi Arabia are bonded by solid brotherly relations that are deeply rooted through history and based on solid foundations of kinship ties and common destiny.

H E explained that the effectiveness of the bilateral initiatives and decisions has reflected through the notable improvement in trade exchange between the two countries, and that the willingness of the two sides to reinforce their inter-trade have reflected in accelerating growth of 35 percent from QR2.1bn in 2022 to approximately QR3bn in 2023.

H E expressed his aspiration to develop the trade exchange and partnerships between the two countries across all sectors, including achieving economic integration, raising non-oil exports, reinforcing national products’ competitiveness, and facilitating the flow of mutual investments and other sectors in order to fulfil our mutual goals. The meeting witnessed reviewing the topics of common interest, that aim to reinforce cooperation between the two countries in the fields of commerce, investment, and industry.

Their Excellencies, the Minister of Commerce and Industry, and Saudi’s Minister of Industry and Mineral Resources witnessed memorandum of understanding signing ceremony between Qatar Development Bank and Saudi EXIM Bank, which aims to further cooperation between the two countries in fields of exporting products and services and exchanging information and expertise.