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Qatar-Russia trade rises 200 percent in 7 years

Business Doha 18 Dec 20
Qatar-Russia trade rises 200 percent in 7 years
The volume of trade exchange between Qatar and Russia had seen 200 percent increase during the last seven-year period, Qatari Minister of Commerce and Industry has stated.
Event Location
Qatar, Qatar
Start Time
18 December 2020, 12:00 AM
End Time
31 December 2020, 12:00 AM

The Investment Promotion Agency Qatar (IPA Qatar) and the Roscongress Foundation hosted a joint hybrid event titled “Qatar-Russia Economic Partnership: Avenues of Growth for Russian Companies in Qatar’s Investment Ecosystem”.

The event witnessed the participation of Minister of Commerce and Industry and IPA Chairman HE Ali bin Ahmed Al Kuwari, Russian Federal Agency for International Development

(Rossotrudnichestvo) Head Evgeny Primakov, Ambassador of Qatar to Russia HE Fahad bin Mohammed Al Attiyah, IP Qatar CEO Sheikh Ali Alwaleed Al Thani and Roscongress CEO Alexander Stuglev.

Talking about trade ties between the two countries, Kuwari indicated that the volume of trade exchange between Qatar and Russia had witnessed an upward trend, reaching $202 million in 2019 compared to $118 million in 2012, which is a 200 percent increase during the seven-year period.

Despite the global crisis, the minister said, measures to respond to the COVID-19 pandemic in both countries had proven successful.

As a result, the GDP of Qatar and Russia are expected to increase by 2.5 percent and 2.8 percent respectively in 2021, contributing to the economic growth of both countries, and to the expansion of their relations in various fields. The minister referred in this regard to the projects under consideration of a value exceeding $9 billion in the fields of health care, real estate, infrastructure, agriculture and others.

Primakov said that Qatar is viewed by Russian as an important partner in the Middle East and a potential investor in its national economy.

Meanwhile, Stuglev noted that today’s event marks a continuation of the Foundation’s joint efforts to boost Russian-Qatari cooperation.

Qatar business news 2020Qatar-Russia trade rises 200%

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