Minister of Economy and Industry HE Ali bin Ahmed al Kuwari and President of General Authority for Investment Promotion and Export Development in Oman Yahia bin Saeed al Jabri inaugurated the 2018 edition of the Made in Qatar exhibition Muscat on Monday.
The exhibition in Oman comes amidst a siege imposed on Qatar by some of its neighbours in the GCC, Kuwari said while addressing a forum held on the sidelines of the expo.
“The expo is a good opportunity to strengthen the relations between Qatar and Oman,” he said at the Qatari-Omani Business Forum, noting that the siege has had no impact on Qatar.
Oman, along with Kuwait, chose to stay away from the Saudi-led bloc in their imposition of the blockade on Qatar last year.
The relations between Qatar and Oman have developed significantly, thanks to the directives of the Amir HH Sheikh Tamim bin Hamad al Thani and Oman’s Sultan Qaboos bin Said al Said.
The increasing trade between the two countries attests to the depth of their brotherly relations, he said, noting that the two countries’ current bilateral trade reached QR4.1 billion. It is an improvement of nearly 101 percent in the period after the siege.
Oman is Qatar’s 18th largest trade partner and their mutual investments have seen remarkable growth in all fields, including agriculture, livestock, transport, communication, energy, tourism and education.
The minister said Qatar has adopted several measures to boost its economy following the siege, leading to GDP growth of 1.6 percent in 2017 ( GDP QR222 billion).
Qatar is estimated to grow by 3 percent in 2019 and 2020, while foreign trade grew by 16 percent and exports by 18 percent in 2017, he said.
The minister also listed the incentives and facilities provided by Qatar to improve the business environment for foreign companies.
The recently revamped Hamad Port, for instance, offers cutting-edge technology and state-of-the-art infrastructure in accordance with global standards, he said.
Qatar Chamber First Vice Chairman Mohammed bin Ahmed bin Twar, who also participated in the forum, said Qatar and Oman enjoy deep-rooted and historic bilateral relations.
“Holding the Made in Qatar expo in Oman stems from the joint desire to develop the Qatari-Omani ties and take them to even higher levels,” Twar said.
As many as 513 Omani-Qatari joint companies are operating in both the countries, Twar said, adding that of them 361 companies are in Qatar.
Qatar Chamber continues to encourage commercial and industrial joint alliances between Qatar and Oman, he said.
Deputy Chairman of Oman Chamber of Commerce and Industry for Economic Affairs and Branches Dr Salem bin Sulayem al Junaibi also addressed the forum.
He said the Qatar-Oman relations firmly reflect the aspirations and directives of the two countries’ leaderships.
“Qatar has achieved remarkable economic milestones in all sectors. It has great economic expertise,” he noted.
Head of Business Development at Qatar Development Bank (QDB) Saleh Majid al Khulaifi, Director of Business Development at Economic Zones Company (Manateq) Jassim al Emadi Coordinating Committee for the Single Window System Management’s Ahmed Zidan, Director of Commercials Services at the Port of Duqm Eng. Hashim bin Taher al Ibrahim, Oman Development Bank AGM Eid bin Khair Mohammed al Balushi and Director General of Marketing and Media at the Public Establishment for Industrial Estates – Madayn Omar Mohammed Muqaibil also addressed the forum.
On the sidelines of the event, representatives of Al Meera Company and Dawood Contracting Company signed an agreement of cooperation to set up a subsidiary of the Qatari suermarket chain in Oman.
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