Since Qatar is Mexico’s fourth trade partner in the Middle East, the Qatar-Mexico Business Forum reviewed cooperation and investment enhancements with private sector representatives from both countries, as their trade exchange totaled US$111 million during 1H21.
“The Qatari market is promising and welcomes all foreign investments, especially in world-class infrastructure, logistic potential, attractive incentives and legislations,” said Mohamed bin Ahmed bin Towar Al Kuwari, First Vice-Chairman, Qatar Chamber (QC).
The forum was held at the QC’s headquarters and was attended by Mexico’s Ambassador to Qatar Graciela Garcia, in addition to representatives from Qatari companies and 33 Mexican firms belonging to the food, beverages, oil, gas, jewelry and furniture sectors. The Coordinator of the Council of Industrial Chambers of Jalisco State (CCIJ) Rubén González also attended the forum. The CCIJ is integrated by leading companies that offer high-quality products to boost Mexico’s foreign trade.
Qatari representatives agreed that their country’s private sector is looking to establish partnerships with their Mexican counterparts in various sectors, especially in the agriculture, food security and energy. Al Kuwari highlighted that the energy sector is among the most important industries for Qatar in Mexico given the number of successful investments.
In addition, the CCIJ Coordinator encouraged Qatari investors to explore the Mexican market and settle economic and commercial relations within the country. On the other hand, Mexico’s Ambassador to Qatar mentioned the country’s opportunities in the IT, communication, construction, energy, infrastructure sectors.
During the forum, Hamad Rashid Al Nuaimi, Manager of Investor Relation at Investment Promotion Agency (IPA), presented an outline of the Qatari economy as well as economic incentives offered by the country aimed at attracting foreign investment while explaining IPA’s role in the promotion of Qatar as a national agency.
“IPA is the national agency responsible for promoting and facilitating international investment in Qatar. Its economy is one of the most stable, resilient, and competitive economies in the world. Qatar also boasts a world-class climate for business and investment, and offers a wide range of opportunities in infrastructure, logistics, fiscal services, entertainment, technology, manufacturing, tourism, agriculture, and others,” said Al Nuaimi.
Mexico’s opportunities in Qatar have also been addressed by MBN’s Expert Contributor, Yemile Mariana Tuma, President, Arab Mexican Chamber of Industry and Commerce, who wrote about the different initiatives pushed from the Gulf Cooperation Council (GCC), integrated by the United Arab Emirates, Saudi Arabia, Qatar, Oman, Kuwait and Bahrain offer big opportunities for Mexican entrepreneurs.
“The overview of the different initiatives in the GCC countries opens an important window of opportunity for Mexican entrepreneurs interested in the region’s market. We are facing governments that are investing an enormous amount of effort and resources to achieve their goals. Mexico has to look at the healthy business environment that the Arab countries are moving toward, offering opportunities not only for their economies but for business with international companies that can take advantage of the sectorial complementarity facing these new emerging trends,” wrote Tuma for MBN.