Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Qatar, Portugal to boost trade  Join our daily free Newsletter

MENAFN - The Peninsula - 08/04/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - The Peninsula) The visiting Deputy Prime Minister of Portugal, Paulo de Sacadura Cabral Portas and Qatar's Minister of Economy and Commerce,

H E Sheikh Ahmed bin Jassim bin Mohammed Al Thani, both expressed their keen interest to expand areas of mutual cooperation to further deepen economic ties to enhance volume of bilateral trade and investments.

Both sides yesterday admitted that the current volume of bilateral trade is "below ambition" and a there are "huge untapped opportunities" of trade and investments between the two nations, which can help enhance the trade volume for mutual benefits.

The Deputy PM and the Qatar's Minister of Trade and Commerce co-headed the First Session of 'Qatar-Portuguese Joint Commission on Economic, Commercial & Technical Cooperation'.

The volume of bilateral trade in 2013 stood at QR676m, which, according to both the leaders, was low and have great scope for growth.

Portas said that since the signing of the agreement in 2011, Portugal's exports to Qatar increased by 13 percent, while its imports from the energy-rich Gulf state soared by approximately 100 percent.

Sheikh Ahmed added: "Bilateral trade between the two countries is below our ambition. This shows the need to enhance the trade volume by deepening mutual cooperation through expanding and exploring more opportunities of trade and investments."

He said that industry chambers from both the countries can play significant role in increasing bilateral trade, especially by facilitating private investments.

At the meeting, Qatar sought Portugal's support at the World Trade Organisation for an initiative for which Qatar is striving to declare liquefied natural gas (LNG) and its derivatives as environment-friendly products.

The Minister said that it is a "good opportunity" for both the countries to strengthen economic relations for mutual interests.

He said the private sector companies from Portugal will be extended all needful support and facilities from the Qatari side to take part in Qatar's efforts to transform and diversify its hydrocarbon-based economy into a knowledge-based society in line with National Vision 2030, an ambitious goal set to achieve sustainable growth and developed.

Sheikh Ahmed, inviting Portuguese investment in Qatar, said: "Foreign capital can own up to 49 percent stake in a business entity in Qatar, however, with approval from concerned authorities, some priority sectors can have 100 percent foreign direct investments."

The Minister also sought Portuguese investments in Qatar's agro-business industry, especially in the field of technology-intensive sectors. He said that here is a good opportunity to enhance mutual cooperation, and suggested to include and focus on important sectors such as infrastructure, banking, energy, agriculture, education, tourism, culture and arts in future Sessions of the Joint Commission.

The Qatar-Portuguese Joint Commission Session was outcome of the cooperation agreement singed between the two states on March 7, 2011. Seeking Qatari investments in the cash-strapped Portugal economy, the Deputy PM, said: "Since the signing of the agreement two years ago, Portugal economy has made significant improvements and managed to bring some tangible development in different areas, including reduction in (sovereign) debt, unemployment and trade deficit."

Speaking about the first meeting of the Commission, Portas said: "Both the countries have huge potential to expand mutual cooperation. This meeting will activate the process of the implementation of economic agreements signed between the two nations. We also intend to form Joint Committees to further deepen economic ties."

He noted that the objective is not only to increase trade exchange between the two sides, but to support a vibrant economic and trade relations in all its forms.

 


The Peninsula




  MENA News Headlines
 Dec 21 2014 - Qatar welcomes Saudi King initiative on EgyptKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) The State of Qatar on Saturday welcomed the initiative of the Saudi King Abdullah bin Abdulaziz for improving the Qatari-Egyptian relations.Qatar responds ...

 Dec 21 2014 - Bahrain, Jordan monarchs discuss ties, regional issuesKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Bahrain's King Hamad bin Isa Al-Khalifa discussed with visiting King Abdullah II of Jordan ways of boosting relations between the two countries, as well as the ...

 Dec 21 2014 - Kuwait- His Highness the Amir congratulates Saudi King on successful initiativeKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah on Saturday sent a cable to Saudi King Abdullah bin Abdulaziz Al Saud to congratulate him on the ...

 Dec 21 2014 - Egyptian Pres. receives Qatari, Saudi envoysKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Egyptian President Abdulfattah Al-Sisi discussed here on Saturday with Chairman of the Saudi Royal Court and the King's envoy Khaled bin Abdulaziz Al-Tweijri and ...

 Dec 21 2014 - Saudi Arabia welcomes thaw in Egyptian-Qatari tiesKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) The Saudi Royal Court issued a statement Saturday evening welcoming the improvement of the Egyptian-Qatari ties as a result of the initiative of Saudi King ...

 Dec 21 2014 - Italian PM does not rule out military intervention in LibyaKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Italian Prime Minister Matteo Renzi said Saturday that he does not rule out the possibility of military intervention in Libya under an international framework in ...

 Dec 21 2014 - Italy, Egypt agree to boost military cooperationKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Italy and Egypt signed Saturday a joint statement on boosting the military cooperation in preparation for a bilateral agreement in the defense field.The joint ...

 Dec 21 2014 - Bahrain detains 5-member terror cellKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Bahrain Terror Crime Prosecution Chief Attorney General Ahmed Al-Hamadi said Saturday that five people have been remanded in custody pending investigation in ...

 Dec 21 2014 - Kuwait- His Highness the Amir sends congratulatory cable to Qatari peerKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah on Saturday sent a cable to Qatari Amir Sheikh Tamim bin Hamad Al Thani to congratulate him on the ...

 Dec 21 2014 - Kuwait- His Highness the Amir sends congratulatory cable to Egyptian Pres.Kuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah on Saturday sent a cable to Egyptian President Abdulfattah Al-Sisi to congratulate him on the ...

more...


 






Google

Click to Apply

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help