Tribune News Network
Doha
Qatar, represented by a delegation led by Minister of State for Foreign Trade at the Ministry of Commerce and Industry HE Dr Ahmed bin Mohammed Al Sayed took part in the 29th edition of the CII Partnership Summit 2024, which took place in New Delhi, from December 2-3.
Qatar’s involvement in the Partnership Summit underscores its commitment to enhancing trade and investment ties with the Republic of India while showcasing the country’s favorable investment environment and promising opportunities. These efforts are aimed at attracting more foreign direct investment (FDI) and expanding trade partnerships in key sectors of mutual interest.
During his opening remarks at the inaugural session, the Minister of State for Foreign Trade highlighted the robust Qatar-India relationship, stating: “The partnership between Qatar and India represents a long-term, strategic alliance that we are committed to nurturing, advancing, and strengthening together. Our unique position allows us to energize our collaboration and achieve significant progress in the near future.”
He pointed out the impressive growth in trade volumes between the two nations, which have surged by 55% since 2020, reaching nearly USD 14 billion in 2023. He noted that India is Qatar’s second-largest trade partner and that Indian investors are involved in over 20,000 companies and projects within the Qatari market.
He expressed optimism regarding the future of economic and investment collaborations between the two countries.
On the sidelines of the summit, Dr. Ahmed bin Mohammed Al Sayed met with Piyush Goyal, Minister of Commerce and Industry of India and Chairman of the Partnership Summit. The two ministers discussed strategies to enhance bilateral trade partnerships, boost trade volumes, and explore new avenues for cooperation in international trade.
He also met with Sanjiv Puri, President of the Confederation of Indian Industry (CII) and Co-Chair of the Summit, to explore ways to strengthen private sector collaboration, increase the number of companies operating in both countries, and enhance joint investments in Qatari and Indian markets.
Additionally, he held discussions with representatives from prominent Indian private sector companies. The meetings highlighted Qatar’s economic developments in recent years, explored investment opportunities across various sectors, and showcased the legislative and policy initiatives introduced by Qatar to support the private sector.
These efforts aim to attract more foreign direct investment and bolster the presence of global companies in the Qatari market. The Partnership Summit, attended by ministers, officials, decision-makers, business leaders, international organizations, and investors from around the world, serves as a global platform for dialogue.
