(MENAFN - The Peninsula) Doha Bank is also studying the possibility of opening a representative office in Spain, according to Doha Bank Group CEO, R Seetharaman.
He said Spain and Qatar have significant opportunities to work together, adding that the presence of Qatar in Spain is quite notable in the petrochemical field. Qatar was the biggest supplier of natural gas to Spain in the month of September 2010 and various projects and deals have been signed between Spanish and Qatari companies, he pointed out.
He noted that bilateral trade between Spain and Qatar has increased in recent years with total trade for Qatar with Spain growing from QR0.8bn (exports QR0.54bn, imports QR0.23bn) in 2003 to QR6.5bn in 2008 (exports from Qatar QR 4.9bn, imports to Qatar QR1.6bn).
Seetharaman was speaking at the "Spanish Financial System Situation breakfast lecture" hosted by the Spanish Business Council recently. The event was held at Ritz Carlton, Doha and featured Dr Santiago Carbo, Full Professor at the University of Granada (Spain) and consultant at the Federal Reserve of Chicago. Top bankers and business professionals participated in the event.
In his presentation, he noted that Qatar has been significantly resilient to the global crisis and has effectively followed the true principles of globalization that is driving the world economies through progressive liberalisation and modernisation.
Qatar's National Vision 2030 builds on a society that promotes justice, benevolence and equality. The FIFA world cup 2022 in Qatar will provide immense opportunities and support the diversification strategy of Qatar, he said.
Seetharaman highlighted the global economic outlook and events contributing to the global recovery and the risks prevailing.
"Spain and Qatar have many areas to synergise further on account of infrastructure development in Qatar due to FIFA World cup 2022 which can promote cross- border partnerships on trade and investments and will lead to economic welfare between countries," he added.