Trade volume between Sri Lanka and Qatar recorded at US$ 73 million in 2017
The Gulf Times quoting the Vice Chairman of the Qatar Chamber, Mohomad bin Towar al-Kuwari has stated that the total trade volume between Qatar and Sri Lanka has been recorded at US$ 73 million in 2017.
Speaking at the ‘Employment Promotion in Qatar,’ organised by the Sri Lankan Embassy in Qatar and the Chamber, al-Kuwari has reportedly said Qatar considers Sri Lanka as a “strategic partner” in South Asia.
He has said both countries signed various agreements and memoranda of understanding (MoUs) to enhance economic relations, “but what has been achieved so far does not reflect the capabilities both countries have.”
“The state of Qatar is attaching great importance to developing co-operation relations in South Asia. There are many Qatari investments in this vital region and there is room for more in the near future,” al-Kuwari has said in his speech.
In 2017, al-Kuwari has noted that the Chamber met with Sri Lankan President Maithripala Sirisena, who, according to the Qatar Chamber official, “was very keen to meet Qatari businessmen whom he encouraged to invest in Sri Lanka.”
Al-Kuwari has stated that there are around 210 Sri Lankan companies operating in Qatar with a capital of about QR45.5mn.
“On behalf of Qatar Chamber, I’d like to invite more Sri Lankan companies to take part in the renaissance taking place in Qatar and to establish joint ventures with Qataris in all sectors.
“Meanwhile, we urge Qatari businessmen to explore the abundant investment opportunities in Sri Lanka and to establish business partnerships and alliances with their Sri Lankan counterparts,” al-Kuwari has said.
The comment by the Vice Chairman of the Qatar Chamber that the state of Qatar is attaching great importance to developing co-operation relations in South Asia and the fact that Sri Lanka is considered a “strategic partner” by Qatar indicate the opportunities for business ventures between the two nations. Investors could engage in business with Qatar through Sri Lanka and also look at forming joint ventures with Qatari and Sri Lankan business ventures.
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