QBA marks key economic, diplomatic initiatives in 2024

The Qatari Businessmen Association (QBA) engaged in a series of significant economic and diplomatic initiatives this year, forging stronger ties with different heads of state, private and public sector leaders, and global captains of industry.

The association, led by its chairman, HE Sheikh Faisal bin Qassim al-Thani, also led high-level QBA delegations to explore and foster new investment opportunities across different countries in Europe, Asia, and the Middle East.

The QBA’s efforts and programmes in 2024 reflect its keen focus on expanding Qatar’s economic footprint on the global stage and promoting the country as a vibrant business hub in the Gulf region.

Through its participation in a range of high-level forums and trade missions, the QBA has strengthened and identified new avenues for cooperation across various sectors aimed at achieving sustainable economic growth and the continued diversification of Qatar’s economy.

Earlier this year, the QBA organised a business lunch in honour of UK Deputy Prime Minister Oliver Dowden and his accompanying delegation, where both parties discussed trade and investment relations between Qatar and Britain, as well as developments in the free trade agreement (FTA) negotiations between the GCC countries and the UK.

In a media statement, the QBA noted that both expressed optimism that an FTA would contribute significantly to economic growth and enhance trade in goods and services, new sectors, and advanced technologies.

The meeting also highlighted Qatar’s investments in Britain, such as those on the London Stock Exchange, Chelsea Barracks, Heathrow Airport, and Harrods, which have been viewed as an added value to the British economy, the QBA also noted.

Alongside the Qatari Businesswomen Association (QBWA) and the Ministry of Commerce and Industry (MoCI), the QBA held a meeting with World Trade Organisation (WTO) Director General Dr Ngozi Okonjo Iweala and her accompanying delegation.

The meeting, which discussed ways to address pressing global trade challenges and ways to overcome them, was held as part of the policy followed by the WTO towards non-governmental organisations concerned with small and medium-sized enterprises (SMEs), investment, and pioneering businesswomen.

Both the QBA and QBWA have expressed the support of Qatar’s business community for the WTO, which plays a significant role in enabling small enterprises to grow, develop, and further access international markets.

The QBA’s comprehensive visit to Berlin this year was touted as a milestone in forging robust relations with Qatar’s key partners in Europe. The visit included meetings with corporate giants like Siemens Group and SAP, as well as different government entities in Germany.

The association’s delegation also explored investment opportunities and partnerships in the following sectors: technology, artificial Intelligence (AI), healthcare, and tourism, among others.

The German-Qatari Joint Task Force for Trade and Investment also held a meeting at the headquarters of the Federation of German Chambers of Commerce and Industry during the visit.

During a business dinner with Berlin's former mayor and senator Franziska Giffey, the QBA highlighted Qatar’s economic transformation and investment incentives, including new free zones and logistical zones.

The QBA’s meeting with Saudi Arabia’s Minister of Industry and Mineral Resources, Bandar bin Ibrahim al-Khorayef, was part of the association’s initiatives to strengthen regional ties. The meeting was held in Doha on the sidelines of the ‘Consultative Meeting between their Excellencies the GCC Ministers of Commerce and Industry and the Heads of the GCC Chambers of Commerce’.

In an interview with Qatar News Agency (QNA), HE Sheikh Faisal underscored the importance of the official visit by His Highness the Amir Sheikh Tamim bin Hamad al-Thani to Germany last October.

He said His Highness the Amir’s visit it will open new avenues for partnership and co-operation in various fields to serve the mutual interests of both nations, while stressing Qatar's strategic relations with Germany.

“This visit would support Qatar’s transition towards a knowledge-based and innovative economy through the establishment of strong partnerships in which the private sector of both countries will play a pivotal role,” Sheikh Faisal told QNA.

Later this year, the QBA encouraged its members to explore investment opportunities in Uzbekistan as part of the association’s drive to expand its horizons in Central Asia. During a meeting with Laziz Kudratov, Minister of Investment, Industry and Trade of Uzbekistan, QBA discussed potential investments in agriculture, mining, and energy sectors.