New Tasdeer trademark a boost for Qatari exporters

The new trademark of Tasdeer, Qatar Development Bank’s (QDB) Export Development, Finance, and Promotion Agency, is seen to usher in a new era of services for Qatari exporters.QDB CEO Abdulrahman Hesham al-Sowaidi made the statement during the recent launching of the trademark ‘Qatar Exports’ as part of efforts to boost Qatari exports, enhance the competitiveness of Qatari products and streamline access to global markets.The event showcased QDB’s latest initiatives and solutions in providing financial and logistical support to Qatari exporters to enhance competitiveness in international markets and an important step towards achieving the Qatar National Vision 2030, which seeks to diversify the economy and reduce dependence on the energy sector.Al-Sowaidi said over the years, Tasdeer has worked to modernise and develop various services and programmes to keep up with the latest developments and changing market dynamics."We have accompanied Qatari exporters through all stages of their journey, from securing and promoting their exports to providing financing solutions to sustain their growth. Our efforts enabled Qatari companies to access 98 international markets by the end of last year."Through this initiative, we seek to strengthen Qatar’s global presence and enable Qatari SMEs to export their products to new markets in line with the Third National Development Strategy, reflecting our strong belief in the key role that exports play in enhancing Qatar’s position in international trade.”"Introducing ‘Qatar Exports’ represents a strategic step towards achieving our aspirations in terms of empowering the private sector to contribute effectively to Qatar’s sustainable development.”In the context of its latest initiative, QDB plans to open Qatar Exports offices across the region and throughout the world. In line with its revamped strategy, QDB will first cement Qatar’s presence in regional markets across the GCC before expanding to international ones, all while strengthening Qatar’s trade partnerships with neighbouring countries and other strategic markets, according to its export priorities.These offices will streamline the entry of Qatari products and services to new markets, and facilitate matchmaking between Qatari exporters and international buyers, while also providing exporters with valuable insights on laws, regulations, and market opportunities.Within the framework of Qatar Exports, QDB introduced ‘Going Global’, a tailor-made bundle of solutions designed to support SMEs in expanding internationally through direct and indirect financing solutions.Under the Buyer’s Credit Programme, QDB provides financial support to enable international buyers to purchase goods, raw materials, machinery, equipment, and services from Qatari exporting companies leveraging Sharia-compliant, flexible and long-term payment terms. Through this programme, QDB provides attractive credit solutions to international clients of Qatari exporting companies on par with major international export credit agencies. Credit solutions include loans, guarantees, and insurance extending up to 20 years according to the importer’s needs, which would enhance demand for Qatari products.To date, QDB has approved QR2.7bn in long-term buyer credits for GCC importers and provided over QR500mn in medium-term lines of credit to MENA banks, engaging export credit agencies around the world to enable Qatari exporters to participate in international supply chains.Al-Sowaidi said QDB has already concluded memoranda of understanding with export credit agencies in Italy, France, the UK, the US, Saudi Arabia, and Turkiye, among other countries, making it easier for Qatari exporters to engage contractors in these markets.In terms of financing exports, QDB will support companies seeking to kick start or expand their operations overseas through its Internationalisation Financing programme. Under the programme, QDB provides Shariah-compliant direct financing, as well as guarantees to Qatari partner banks and international financial institutions.Qatari exporters can also benefit from the Whole Turnover Insurance, which provides the necessary protection against post-shipment risks if approved overseas buyers fail to pay for exports. The programme is based on flexible and effective mechanisms that save companies time and effort.To support Qatari contractors with their international expansion plans, QDB also introduced the Overseas Contract Financing (OCF) programme, which provides guarantees to Qatari partner banks and international financial institutions. The product covers funding for various international projects, from construction to technical consultancy. Through medium to long-term financing that can be extended based on the contractor’s creditworthiness, OCF enables Qatari contractors to expand to global markets, contributing to the growth of Qatar’s economy.Through this integrated support, QDB continues to serve as a strategic partner for Qatari exporters regardless of their legal structure to enable firms operating in free, economic, and industrial zones, to access its products and services in line with its belief in the importance of diversifying Qatar’s business landscape.