AZPROMO studies investment opportunities in Qatar

Qatar Chamber officials held a meeting on Monday with a delegation from Azerbaijan headed by Azerbaijan Export and Investment Promotion Foundation (Azpromo) acting president Yusif Abdullayev and Azerbaijan ambassador Rashad Ismayilov. As Gulf Times writes in the article 25 companies from Azerbaijan seek investment avenues in Qatar, the delegation comprised representatives of 25 companies specialising in tourism, agriculture, and industry.

Qatar Chamber first vice chairman Mohamed bin Towar al-Kuwari said Qatar and Azerbaijan “enjoy good relations,” which are rapidly developing in all sectors. He noted that both countries have taken many important steps to develop bilateral relations approximately in all fields. “Both leaderships have paid reciprocal official visits several times, which saw the signing of many bilateral agreements,” he noted, adding that both sides have established an economical commission to promote economy and trade relations and signed several agreements and memorandums of understanding in the fields of economy, trade, and agriculture.

During the meeting, al-Kuwari called on businessmen from both countries “to benefit from our distinct relations and raise the partnership at business and the private sector level.” He stressed that there is a wide range of business and investment opportunities in various fields available in both countries.

“Both countries’ companies are invited to co-operate in projects being carried out for developing the infrastructure and for the hosting of the FIFA World Cup in 2022,” he added.

In a speech, Abdullayev underscored the strong relations linking both countries, and noted that “this would open new vistas for businessmen and investors to establish joint enterprises.”

Abdullayev said the delegation is eager to learn about Qatar’s investment climate, as well as incentives and facilities offered for foreign investors and opportunities available in all sectors. He also noted that several Azpromo members have different investments in Qatar, while others are exporting their products to the Qatari market.

He noted that his country is an attractive destination for investment due to its distinguished geographical position. Azerbaijan’s GDP stood at $47bn and was ranked 25 of 190 countries in the World Bank’s Doing Business Report 2019. Oglu said Azerbaijan’s key sectors are agriculture, food security, SMEs, heavy industries, and tourism.

Ismayilov said Qatari businessmen are interested to explore the investment climate in Azerbaijan and incentives offered for foreign investors and investment opportunities in all sectors.