Tribune News Network
Doha
In a significant move aimed at enhancing the global competitiveness of Qatari exports, the Qatar Development Bank (QDB) has launched a new trademark, “Qatar Exports,” under its Tasdeer initiative. The launch, which took place at a well-attended ceremony, marks another milestone in QDB’s efforts to streamline access to international markets and diversify Qatar’s economy in line with the country’s Third National Development Strategy.
The initiative is part of QDB’s renewed export strategy aimed at modernising and developing the nation’s export landscape, particularly in line with the goals of Qatar National Vision 2030, which seeks to reduce the country’s dependence on the energy sector and promote economic diversification.
In his address to the attendees, QDB CEO Abdulrahman Hesham Al Sowaidi outlined the ongoing efforts of Tasdeer to support Qatari exporters. “Over the years, Tasdeer has worked tirelessly to modernize its services and adapt to changing market dynamics. We have accompanied Qatari exporters throughout their entire journey, from securing their exports to providing tailored financing solutions for sustained growth. As a result, by the end of last year, Qatari products reached 98 international markets,” he said.
Al Sowaidi emphasised QDB’s commitment to enhancing the competitiveness of Qatari products and facilitating their entry into global markets. “Today, we reaffirm our dedication to strengthening Qatar’s global presence and supporting Qatari SMEs to export their products to new markets,” he said. This initiative, he explained, is a crucial step towards empowering the private sector to contribute meaningfully to Qatar’s sustainable development.
As part of its broader strategy, QDB plans to establish “Qatar Exports” offices across the Gulf Cooperation Council (GCC) region, with the eventual goal of expanding globally. These offices will serve as strategic hubs to assist Qatari companies in entering new markets by providing valuable insights on local regulations, market opportunities, and matchmaking between Qatari exporters and international buyers. This move is expected to strengthen Qatar’s trade ties with its regional neighbors and other international partners.
The new offices will play a crucial role in facilitating the export of Qatari products and services, which aligns with QDB’s overarching objective of boosting Qatar’s presence in global trade. By focusing first on regional markets, QDB aims to build a solid foundation before expanding its footprint in other international markets.
During the event, QDB introduced the ‘Going Global’ initiative, a comprehensive package designed to assist small and medium-sized enterprises (SMEs) in expanding their operations internationally. The program offers a variety of direct and indirect financing solutions, specifically tailored to meet the needs of Qatari SMEs looking to penetrate new markets.
One of the highlights of the initiative is the Buyer’s Credit Program, which provides financial support to international buyers purchasing Qatari goods and services. The program offers Sharia-compliant, flexible, and long-term payment terms, ensuring that international clients of Qatari companies receive competitive financing solutions comparable to those offered by major international export credit agencies. Through this program, QDB is extending loans, guarantees, and insurance for up to 20 years, tailored to the needs of the importers, to drive demand for Qatari products.
So far, QDB has approved QR2.7 billion in long-term buyer credits for GCC importers and provided over QR500 million in medium-term lines of credit to banks across the Middle East and North Africa (MENA) region. These efforts are complemented by partnerships with export credit agencies worldwide, allowing Qatari exporters to become key players in international supply chains.
QDB has already signed memoranda of understanding with export credit agencies in key markets such as Italy, France, the UK, the US, Saudi Arabia, and Turkey. These partnerships make it easier for Qatari exporters to engage with contractors in these markets, thereby enhancing their global competitiveness.
In terms of financing, QDB supports companies through its internationalisation financing programme, which provides Sharia-compliant direct financing and guarantees to Qatari partner banks and international financial institutions.
This ensures that Qatari companies, regardless of their legal structure or size, can access the financial tools they need to succeed in foreign markets.
Additionally, Qatari exporters can benefit from the Whole Turnover Insurance program, which protects against post-shipment risks in case overseas buyers fail to pay for exports. This flexible program saves companies time and effort by providing them with essential protection against financial losses.
To further support Qatari contractors aiming to expand internationally, QDB introduced the overseas contract financing program. This program provides guarantees to banks and financial institutions, covering funding for international projects ranging from construction to technical consultancy. By offering medium- to long-term financing options based on the contractor’s creditworthiness, the programme enables Qatari contractors to participate in global markets and contribute toQatar’s economic growth.
