Qatar steps up efforts to establish sustainable trade and investment agreements with Ukraine
Driven by the 60% increase in the volume of trade between Qatar and Ukraine in 2020 despite the challenges of the pandemic, Doha has stepped up its efforts to establish “sustainable” trade and investment partnerships between the private sectors of two countries.
This was proposed by HE Ali bin Ahmed al-Kuwari, Minister of Trade and Industry and Acting Minister of Finance, during the second session of the Qatari-Ukrainian Joint Committee for Economic, Commercial and Technical Cooperation. , held in Ukraine. capital Kiev from August 31 to Thursday.
“Sustainable” business and investment partnerships would help advance the relationship to the level of a “comprehensive strategic partnership”, with clear frameworks that serve the development trends of Qatar and Ukraine, he said. said, pointing out that at present, 54 Ukrainian companies operate in the economy of Qatar.
The two sides agreed to take the necessary measures to move forward in consolidating trade and investment cooperation between the two countries, with the aim of increasing the volume of transactions and facilitating the flow of goods, services and investments.
Qatar was interested in the Ukrainian government’s efforts to provide promising investment opportunities in several vital sectors, especially the maritime sector, according to al-Kuwari.
QTerminals of Qatar has been awarded a contract to develop, manage and operate Port Olvia, which will support shipping and logistics operations and services.
Regarding the national economy, al-Kuwari said Qatar has managed in recent years to make “remarkable” progress in the process of achieving balanced economic growth.
In this regard, he cited the World Bank report which forecast promising growth of around 3% and 4.1% in 2021 and 2022, respectively, despite the repercussions of the Covid-19 pandemic.
The two sides discussed the progress made during the recommendations of the first session of the committee, in addition to addressing ongoing projects and plans to expand them, as well as several issues related to strengthening economic, trade and economic cooperation. investment between Qatar and Ukraine in areas such as industry, agriculture, transport, health, education, science, technology and culture.
On the sidelines of the meeting, al-Kuwari signed a protocol amending the agreement between the governments of Qatar and Ukraine on the prevention of double taxation and the prevention of tax evasion with respect to income taxes. .
The Minister attended the signing of two memoranda of understanding between Widam Food and Baladna on the one hand and the Ministry of Agrarian Policy and Food of Ukraine on the other.
On the Qatari side, the memoranda of understanding were signed by Mohamed Badr al-Sada, president of Widam Food and vice-president of Baladna.
The meeting brought together representatives of several government agencies, including the Ministry of Foreign Affairs, the Ministry of Public Health, the Ministry of Education and Higher Education, the Ministry of Culture and Sports, the Chamber of Qatar, Qatar Airways, Qatar Development Bank, Free Zones Authority, General Tax Authority, Qatar Investment Promotion Agency, Qatar Investment Authority, Hassad Food, Widam Food, Baladna and Nebras Power.