(MENAFN- The Peninsula) Qatar Development Bank (QDB) yesterday announced that joint meetings between Qatari exporters and Moroccan importers in Morocco held last month, have resulted in the signing of three commercial contracts totalling QR100m for exporting Qatari plastic, irrigation and other products.
During these meetings, the two parties reviewed potential export opportunities and ways of promoting 13 in-demand Qatari products in the prominent Moroccan market. Abdullah bin Falah Al Dosari, Qatar's Ambassador to Morocco and a group of representatives of companies from both sides attended the signing ceremony.
Sheikh Abdullah bin Saud Al Thani, Governor of the Qatar Central Bank, and Chairman of Qatar Development Bank said: "We are delighted to see the successful culmination of these efforts, meetings and numerous initiatives to support the private sector and local SMEs as they reach out to global markets. By supporting export expansion in the private sector, QDB helps advance economic development, one of the main pillars of the Qatar National Vision 2030."
QDB Chief Executive Officer Abdulaziz bin Nasser Al Khalifa said: "QDB's strategy is to open international markets and to pave the way for Qatari private sector companies, and there have been a number of successes in the Tunisian and Moroccan markets. We aim to encourage the private sector to export its products based on tailored market studies of Qatari products, examining quality, pricing, and imported products in relevant markets. The results enable us to identify target markets and set up business meetings with major importers from the respective markets. QDB provides consultancy, marketing and legal advisory services to Qatari companies, with an aim of empowering the private sector in the country."
"Our interest in the Moroccan market is not new - it is a major market that has attracted Qatari exporters for its vast business opportunities. We look forward to supporting the state's efforts to increase Qatari non-hydrocarbon exports to Morocco and to open areas of cooperation between Qatari companies and their Moroccan counterparts, especially given the excellent location of Morocco as a gateway to North African countries and Africa in general. In addition, the Moroccan business environment has competitive advantages that attract investment and exports from other countries," he added.
Al Khalifa also said: "The volume of trade exchange between Morocco and Qatar shows a very strong and positive relationship. Qatar's exports to Morocco reached QR377m during 2013 alone. On the other hand, Moroccan exports to Qatar reached QR30m during the same year."
Hassan Al Mansouri, Executive Director of Tasdeer, QDB's export arm, said: "This meeting was the latest success in our efforts to promote foreign trade and open new markets for Qatari companies by establishing economic partnerships with neighbouring markets".
QDB has conducted detailed studies to identify new export opportunities for Qatari products in Moroccan market. The studies showed that detergents, medical injections, aluminium and plastic products are the most prominent Qatari products for which there is demand in the Moroccan market. Therefore, 11 Qatari companies exporting these products received wide-ranging support in the Moroccan market.
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