(MENAFN- The Peninsula) The Minister of Economy and Commerce H E Sheikh Ahmed bin Jassim Al Thani underlined Qatar's successful experience in supporting and activating private sector's role in various projects.
He was speaking at the World Economic Forum in Davos, Switzerland. It ends tomorrow.
During an interactive session 'Growth of markets in the Arab world', the Minister said cooperation between the government and the private sector would contribute to Qatari market's growth.
The session discussed political and social developments in the Arab world, effects of rising unemployment, falling oil prices and economic implications and challenges facing the Arab economies.
The Minister also spoke about steps that must be taken to achieve growth and prosperity in the Arab world in view of problems such as unemployment and weak trade between Arab countries, which grew from 7 percent to 14 percent in recent years but much below the target.
He highlighted measures to achieve the goal, including increasing economic cooperation between Arab countries, restructuring the overall economy and providing more support for the entrepreneurship sector and small and medium companies and achieving complementarity between trade and investment.
On the sidelines, the Minister met Saudi Minister of Commerce and Industry Dr Tawfiq bin Fawzan Al Rabiah and discussed trade, economic and investment relations and ways of developing and taking advantage of experiences and expertise between both countries in light of the growing trade exchange between them, which reached 8bn riyals.
A total of 388 Saudi companies are operating in the Qatari market.
Qatar's participation in the forum comes at a time when its economy is growing due to the diversification of sources of revenue as the non-oil sector continues to stimulate economic growth.
Qatar seeks to present its vision for investments, economic growth and regional and international trade because of its global and regional weight, high-level of income, low unemployment rates and transparency that has put Qatar in the first rank in Arab world.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.