2024-11-30
Qatar Pitches for Expediting GCC-EU FTA Negotiations
Qatar has called for expediting negotiations on a free trade agreement (FTA) between the Gulf Co-operation Council or GCC and the European Union (EU) to further enhance partnership and encourage mutual investments.
HE Dr Ahmed bin Mohammed al-Sayed, Minister of State for Foreign Trade at the Ministry of Commerce and Industry, made this suggestion at the 8th EU-GCC Business Forum in Doha.
The EU is the GCC’s second-largest trading partner with bilateral trade volume increasing by 69% to more than $196bn between 2020 and 2023, he highlighted at the forum, which aims to strengthen economic relations between the EU and the GCC by supporting economic diversification and addressing bilateral trade and investment co-operation issues.
Dr al-Sayed discussed Qatar’s efforts under its National Vision 2030 to diversify its economy and pivot toward digital economy, innovation, efficiency, and sustainability.
He highlighted promising programmes under Qatar’s Third National Development Strategy to boost non-hydrocarbon sectors such as digital technology, advanced industries, financial and logistics services, and renewable energy.
The forum gathered a distinguished group of officials and experts, including Dr Cristian Tudor, EU ambassador to Qatar; Hamad al-Mulla, Head of Negotiations and Strategic Dialogue Affairs at the GCC General Secretariat; and representatives from ministries, relevant authorities, and the private sector from both sides.
Emphasising the forum’s pivotal role in enhancing economic collaboration between the EU and GCC; Dr al-Sayed said the discussions would contribute to achieving the vision of GCC and EU leaders to strengthen their strategic trade and investment partnership.
It would also capitalise on the opportunities provided by the evolving business environment, digital and green transformations, and sustainable energy, thus driving sectoral co-operation in areas that support economic integration and diversification, ultimately fostering resilient and sustainable economies, according to him.
HE Dr Ahmed bin Mohammed al-Sayed, Minister of State for Foreign Trade at the Ministry of Commerce and Industry, made this suggestion at the 8th EU-GCC Business Forum in Doha.
The EU is the GCC’s second-largest trading partner with bilateral trade volume increasing by 69% to more than $196bn between 2020 and 2023, he highlighted at the forum, which aims to strengthen economic relations between the EU and the GCC by supporting economic diversification and addressing bilateral trade and investment co-operation issues.
Dr al-Sayed discussed Qatar’s efforts under its National Vision 2030 to diversify its economy and pivot toward digital economy, innovation, efficiency, and sustainability.
He highlighted promising programmes under Qatar’s Third National Development Strategy to boost non-hydrocarbon sectors such as digital technology, advanced industries, financial and logistics services, and renewable energy.
The forum gathered a distinguished group of officials and experts, including Dr Cristian Tudor, EU ambassador to Qatar; Hamad al-Mulla, Head of Negotiations and Strategic Dialogue Affairs at the GCC General Secretariat; and representatives from ministries, relevant authorities, and the private sector from both sides.
Emphasising the forum’s pivotal role in enhancing economic collaboration between the EU and GCC; Dr al-Sayed said the discussions would contribute to achieving the vision of GCC and EU leaders to strengthen their strategic trade and investment partnership.
It would also capitalise on the opportunities provided by the evolving business environment, digital and green transformations, and sustainable energy, thus driving sectoral co-operation in areas that support economic integration and diversification, ultimately fostering resilient and sustainable economies, according to him.
Source: GULF TIMES