Over 25 Azerbaijan firms seek investment avenues in Qatar

DOHA:  Qatar Chamber (QC) held a meeting yesterday with the visiting members of a trade delegation from Azerbaijan at QC headquarters. During discussed both sides reviewed ways and mechanisms to enhance trade and investment cooperation.

The Azeri delegation which included representatives of 25 companies specialised in tourism, agriculture and industry was headed by Acting President of Azerbaijan Export and Investment Promotion Foundation (AZPROMO) Yusif Abdullayev Ikram Oglu.

Ambassador of Azerbaijan to Qatar Rashad Ismayilov was present at the meeting alongside with several Qatari businessmen and companies’ representatives from both sides.

Addressing the meeting, Qatar Chamber’s First Vice-Chairman Mohamed bin Ahmed Towar Al Kuwari said Qatar and Azerbaijan enjoy good relations which are rapidly developing in all spheres, noting that they have taken many important steps to develop bilateral relations approximately in all fields.

Both leaderships have paid reciprocal official visits several times which saw the signing of many bilateral agreements, he noted. Al Kuwari also said that both countries have established economical commission to promote their economy and trade relations and signed several agreements and memorandums of understanding in economy, trade and agriculture.

He pointed out that despite the good relations between the two countries, their volume of trade is still weak. Al Kuwari called on businessmen from both countries to benefit from our distinct relations and raise the partnership at business and the private sector level, stressing that there are a wide range of business and investment opportunities in both countries in various fields.

Both countries companies are invited to cooperate in projects being carried out for developing the infrastructure and for the host of the 2022 World Cup, he added.

He also urged Qatari businessmen to identify the investment opportunities available in Azerbaijan which is a good destination for investment. On his part, head of the delegation Yusif Abdullayev Ikram Oglu underscored the strong relations linking both countries, noting that this would open new vistas for businessmen and investors to establish joint enterprises.

Oglu said that the delegation is eager to learn about Qatar’s investment climate as well as incentives and facilities offered for foreign investors and opportunities available in all sectors.

He also noted that several AZPROMO’s members have different investments in Qatar and others are exporting their products to the Qatari market.

He noted that his country is an attractive destination for investment due to its distinguished geographical position. Azerbaijan’s GDP hit $ 47 bn. It was ranked 25 of 190 countries in World Bank’s Doing Business Report 2019.

Oglu said that Azerbaijan’s key sectors are agriculture, food security, SMEs, heavy industries and tourism. Ambassador of Azerbaijan to Qatar Rashad Ismayilov said that Qatari businessmen are interested to identify investment climate in Azerbaijan and incentives offered for foreign investors and investment opportunities in all sectors.

Source from: The Peninsula