The meeting touched on means to enhance co-operation relations between both countries’ business sectors and the investment climate and opportunities
Qatar - Trade exchange between Qatar and the Philippines stood at QR979mn in 2022, Qatar Chamber first vice-chairman Mohamed bin Towar al-Kuwari stated during a virtual meeting with the Philippine Chamber of Commerce and Industry (PCCI).
The meeting was attended by PCCI president George T Barcelon, Qatar’s ambassador to the Philippines Ahmed Saad N A al-Homidi, and Philippine ambassador Lillibeth V Pono, as well as company representatives and businessmen from both sides.
The meeting touched on means to enhance co-operation relations between both countries’ business sectors and the investment climate and opportunities, in addition to enhancing mutual investments and ways to promote trade between Qatar and the Philippines.
Al-Kuwari said Qatar and the Philippines enjoy strong relations in all fields, especially in economic and commercial relations, which witnessed significant development over the past few years. He noted that both countries exchanged mutual visits and signed a number of agreements and MoUs.
Qatar-Philippines trade exchange reached QR979mn in 2022 compared with QR791mn in 2019, registering a 28% increase, al-Kuwari said, emphasising the role of the private sectors of both countries in developing relations by establishing partnerships, commercial alliances, and investment ventures whether in Qatar or in the Philippines.
Al-Kuwari encouraged Philippine companies to maximise the investment incentives offered by Qatar, which has advanced infrastructure and leading economic legislation, as well as incentives for foreign investments in various sectors.
He called on Qatari investors and companies to explore investment opportunities in the Philippines and enhance co-operation with Philippine companies by establishing alliances and joint investments, whether in Qatar or the Philippines, which he described as “an important destination that offers a lot of investment opportunities.”
Al-Kuwari assured Qatar Chamber’s support in the enhancement of co-operation between Qatari companies and their Philippine counterparts in all sectors, noting that there is a strong will from Qatari businessmen to get acquainted with the investment opportunities available in the Philippines, citing the visit of a Qatari business delegation to the Philippines, which explored the country’s investment climate and available opportunities.
Barcelon said Qatar is one of the most important destinations for Philippine investors, stressing that there is a strong desire from Philippine businessmen to learn about Qatar’s investment climate and to establish joint ventures with Qatari companies in various sectors, such as agriculture, tourism, energy, financial services, and halal.
He underscored the importance of developing relations between both chambers for the benefit of the private sector on both sides. Barcelon also underlined the significance of increasing mutual visits of trade delegations from both countries and activating the MoU signed between both chambers, as well as the establishment of a Qatar-Philippines Joint Business Council.
Al-Homidi affirmed the importance of the meeting in developing co-operation relations and promoting trade and economic relations between both countries, while Pono said there are numerous economic fields in which the private sectors of both countries can co-operate, citing the attractive investment climate in both countries.
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