DOHA — Chairman of the Saudi side of the Saudi Qatari Joint Business Council Hamad Bin Ali Al-Shuwaier underscored the importance of working on an economic road map for relations between Saudi Arabia and Qatar based on a study and analysis of the current economic situation and focusing on the most prominent sectors stimulating the growth of trade and investments.

The road map also calls for exchange of investment opportunities information, holding of joint events, presenting initiatives and incentives, and examining the obstacles that face the growing of economic relations between the two countries, he said.

This came in a meeting of the Saudi Qatari Business Council held in Doha Sunday at the Qatari Chamber of Commerce and Industry in the attendance of Saudi Ambassador Prince Mansour Bin Khalid Bin Farhan; Sheikh Khalifa Bin Jassim Al Thani, chairman of the Qatari side of the joint business council, who also serves as chairman of the Board of Directors of the Qatari chamber; and a number of businessmen.

Al-Shuwaier praised the deep relations of both sides and the common desire to enhance cooperation and benefit from the economic transformation in both countries by establishing more commercial partnerships and alliance.

He noted that trade volume between both countries reached SR800 million in the first half of 2022. “The council is a new phase in the joint economic work between both sides,” he said, stressing that it will enhance exchange in all economic fields and both countries have achieved great economic achievements.

He said the Kingdom’s economy, one among the world’s largest 20 economies, has, as per its Vision 2030, sent its products to more than 140 world markets and became among the most attractive to foreign capitals while the Qatari economy has also made great strides making it a hub for the world’s leading companies through its qualitative projects in several economic sectors.

For his part, Prince Mansour expressed confidence in the ability of the joint business council to push the cooperation and partnership between the two sides to higher horizons, citing the determination of the two sisterly countries to enhance relations.

For his part, Sheikh Khalifa Bin Jassim said that the formation of the joint council is a culmination of the efforts exerted by both countries’ leaderships to further develop economic and commercial ties and open new channels of partnerships between Qatari and Saudi companies.

For his part, Undersecretary of the Ministry of Investment for International Partnerships Eng. Mohammed Bin Ahmed Al Hasana called on the joint council to become a real impetus to increase commercial exchanges between the two countries and tackle the challenges facing the cross border trade.

He said the council is considered an inclusive framework to enhance bilateral relations between the two countries and push their partnership to more potentials, hoping to see more work to match meet the aspiration of the leaderships of the two countries.

During the meeting, presentations on the investment opportunities available for investors in the Kingdom and Qatar were showcased. — SPA