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Tribune News Network
Doha
Qatar Chamber Honorary Treasurer and Board Member Ali Abdullatif al Misnad on Thursday urged Indian companies to explore investment opportunities in Qatar's food industry.
Addressing a meeting between members of an Indian trade delegation and Qatar Chamber (QC) officials in Doha, Misnad said the unjust siege imposed on Qatar the Saudi-led bloc has opened door for widening trade ties with India, an important source for food imports to Qatar.
Qatar and India have a long history of friendly relations characterised by commercial ties and cooperation, he said.
Terming Qatar and India as strategic trade partners, Misnad pointed out that there is a growing cooperation in the hydrocarbon and other sectors.
"Bilateral trade between the two countries touched nearly $8.5 billion in 2016. India is the third largest export destination for Qatar behind Japan and South Korea, while import from India to Qatar stands at tenth position," Misnad said.
There is a large Indian community in Qatar contributing to the development of the country, he said.
Regarding the private sector, Misnad said, a large number of Indian companies are working in joint ventures with Qatari companies.
"There are about 26 fully-owned Indian companies in Qatar. On the other hand, there are many sectors in India where Qatar has invested," he said.
The meeting explored the means of strengthening co-operation between Qatar and India in sectors such as food processing, agriculture, dairy technologies and spices.
Speaking on the occasion, Indian ambassador to Qatar HE P Kumaran said the newly amended provisions in the law on investment in free zones would help open new opportunities for Indian investors in Qatar.
He said that India has a very strong agriculture sector which represents 17 percent of the country's GDP and 10 percent of its exports.
He said Indian businessmen are interested in forging new ties with their Qatari counterparts.
"There are opportunities galore for Indian firms in Qatar's growing food industry food. Today's meeting will pave way for many Indian firms to enter the Qatari market," the Indian envoy said.
