Qatar’s private sector exports expected to breach QR2bn mark in 2024

The value of Qatar’s private sector exports is expected to exceed QR2bn this year, according to an official of the Qatar Export Development, Finance & Promotion Agency (Tasdeer).

Tasdeer executive director Khalid Abdulla al-Mana announced this during the recent launching of Tasdeer’s new trademark, ‘Qatar Exports’, which is seen to usher in a new era of services for Qatari exporters.

Tasdeer is the export arm of the Qatar Development Bank (QDB), which was created in 2011 to support the country’s private sector and enhance the presence of Qatari exports in international markets, al-Mana said during a presentation held on the sidelines of the launch event in Doha.

In his presentation, al-Mana said: “In 2019, the number of our exporters was 119. In 2024, we currently have 180 customers that are exporting from Qatar, and this number is growing significantly every year. The value of private sector exports in 2019 was QR700mn. In 2024, we are hopefully going to be exceeding QR2bn in terms of private sector exports.”

Al-Mana explained that Tasdeer’s success in growing Qatar’s private sector exports abroad is founded on three main pillars: development, promotion, and finance.

He said the development pillar is responsible for capacity building through workshops and the ‘Go Global’ incubator, providing international certifications, and a dedicated research team for identifying priority markets and products.

Achievements in the development pillar include 74 workshops delivered, 436 individual trainings, 54 country reports, and 367 companies enrolled in publications. This pillar also provides international representation, including Qatar’s representation in the International Trade Centre in Geneva and memberships in the Amman Union and the Berne Union, al-Mana pointed out.

He said Tasdeer’s activities under the promotion pillar include the participation in 10 to 12 exhibitions annually and the conduct of three large trade missions and matchmaking events yearly.

“In terms of promotion, through our matchmaking events and our exhibitions, we have already booked orders of over QR5bn, of which around QR2bn was in 2024, so we can see the increase of exports happening in recent years.

“For our Saudi Arabia office, which is our first international office launched in January this year, we have served 46 Qatari companies, identified 232 buyers in Saudi Arabia, and booked orders worth more than QR300mn so far. With this success, we hope that we can go into new markets utilising this same model of opening trade offices beyond Qatar,” al-Mana explained.

In an earlier statement, QDB emphasised that it plans to open other ‘Qatar Exports’ offices across the region and in other countries. “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,” the statement pointed out.

QDB added: “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.”

Speaking at the launching ceremony, QDB CEO Abdulrahman Hesham al-Sowaidi said: “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.

“Today, we reaffirm our commitment to developing our services and improving our operations to boost the competitiveness of Qatari products and streamline access to international markets.”

Al-Sowaidi added: “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.”