Qatar Chamber discusses fostering commercial co-operation with Russia

Qatar Chamber officials met on Sunday with a high-level delegation from Russia to discuss further ways to bolster economic and trade relations.

Qatar Chamber chairman Sheikh Khalifa bin Jassim al-Thani received Alexey Gruzdev, Deputy Minister of Industry and Trade of the Russian Federation, and his accompanying delegation.

Attending the meeting were Qatar Chamber second vice-chairman Rashid bin Hamad al-Athba and Qatar Chamber board member Ali bin Abdullatif al-Misnad, who is also chairman of the Qatari side for the Qatar-Russia Joint Business Council, along with several board members and the general manager.

During the meeting, both sides also discussed key investment sectors, co-operation between Qatari and Russian businessmen, the investment climate in both countries, and opportunities to promote mutual investments.

Sheikh Khalifa commended the strong relations between Qatar and Russia across various sectors, particularly in trade and economics. He highlighted the important role the Qatar-Russia Joint Business Council would play in strengthening private sector ties between them.

He also noted that dozens of Russian companies are investing in Qatar across various sectors, while many Qatari investments are present in Russia. Further, he pointed out that there are major projects in Qatar where Russian companies can actively participate.

Gruzdev lauded the close relations between Qatar and Russia, highlighting the efforts of the joint committee in expanding and enhancing these ties and exploring opportunities for cooperation and partnership between the two parties.

He outlined key sectors where Russian companies can cooperate with their Qatari counterparts, including finance, infrastructure, logistics, electric transportation, industry, oil and gas, renewable energy, and pharmaceuticals. He also emphasised Russia’s extensive expertise in these sectors, which could offer significant benefits to Qatar.

Gruzdev affirmed Russia’s keen interest in enhancing cooperation with the Qatari business sector, noting that Russia is a vast and promising market rich in investment opportunities across all industries. He also highlighted that it provides a host of investment incentives, guarantees, and progressive regulations that make Russia an attractive destination for investors.

He further noted that Qatari investments are the first Gulf investments in Russia and stressed the importance of organising a business forum to bring together business leaders from both countries to explore available opportunities.

Al-Misnad highlighted the distinguished ties between Qatar and Russia, emphasising the shared interests between the two countries. He noted that the Qatari private sector is keen to strengthen cooperation with its Russian counterpart, adding that Qatar has the potential to serve as a hub for Russian investments in the Gulf region.

He also underscored the importance of holding regular meetings of the joint business council and business leaders to explore opportunities for partnership and investment on both sides.