Qatar, Italy Trade Volume Hit 16 Percent to €2.8 Billion in 2018

Published October 20th, 2019 - 11:00 GMT
There are several Italian companies operating in the Qatari market in various sectors
There are several Italian companies operating in the Qatari market in various sectors. (Shutterstock)
Highlights
Italy have enhanced their trade and investment ties over the past few years

Qatar and Italy trade volume touched €2.8 billion in 2018, registering a jump of 16 percent compared to €2.4 billion in 2017, Qatar Chamber Chairman Sheikh Khalifa bin Jassim al Thani has said.


Sheikh Khalifa stated this during his participation in the Arab-Italian Business Forum in Milan, Qatar Chamber said in a statement on Saturday.

The forum provided a brilliant opportunity for developing business and investment between Arab and Italian companies and businessmen, he said.

Sheikh Khalifa noted that Arab countries and Italy have enhanced their trade and investment ties over the past few years, affirming that the joint Italian Arab Chamber of Commerce has played an important and effective role in this regard.

“Italy is a distinguished destination for Qatari investments which are distributed in many economic sectors. Foremost of these investments is the Adriatic Liquid Natural Gas (LNG) terminal, which is a partnership between Qatar Petroleum, ExxonMobil and Snam.

“The terminal provides Italy with 8 billion cubic metres per year of LNG, meeting about 10 percent of Italy’s total natural gas demand,” he added.

“There are several Italian companies operating in the Qatari market in various sectors,” Sheikh Khalifa said, assuring that it is the time to increase the number of Italian companies working in Qatar, particularly in light of its economy and preparation for the 2022 World Cup, as well as incentives offered for foreign investors.

Stressing the benefits of siege imposed on Qatar since 2017, he said it was a strong motive for the private sector toward expanding its contribution to the national economy.

Regarding steps taken by the country to overcome the siege, Sheikh Khalifa said Qatar has adopted numerous flexible economic polices aiming at stimulating local and foreign investments, providing advanced infrastructure as well as offering economic and logistics zones and industrial areas that stimulate foreign companies to enter into the Qatari market.

The QC chairman affirmed Qatari businessmen’s eagerness to explore investment opportunities available in Italy and examine the possibility of establishing alliances and joint ventures with their Italian counterparts in both countries.

He expressed the hope that the forum would help intensify cooperation between Arab countries and Italy in all economic and trade areas and urged businessmen to build more alliances and partnerships.

Sheikh Khalifa witnessed the signing of two memorandum of understandings (MoUs) between Qatar Construction Group and two Italian companies, Socomec and Scam beach cleaner.

The two agreements were signed on behalf of the Qatari company by Badr Abdul Hamid Mostafawi, General Manager of the commercial section of the Qatar Construction Group.


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