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Uzbekistan and Qatar are expanding partnership in industry and investment

2023-05-10 | Economics

On May 8-9 this year, Laziz Kudratov, Minister of Investment, Industry and Trade, paid a working visit to the State of Qatar, where he held talks with the heads of key ministries, departments and large companies of this country.

During the meetings, the current state of and prospects for further development of bilateral investment and industrial cooperation, as well as other issues of mutual interest were discussed.

In particular, prospects for the development of relations in trade, economic and investment areas were discussed with Mohammed Al Thani, Minister of Commerce and Industry. The Qatari side highly appreciated the existing potential and expressed confidence that the upcoming visit of the Head of Qatar to Uzbekistan will give a powerful impetus to further deepening the multifaceted partnership and open a new chapter in the development of cooperation between the two countries.

Agreements were reached on the development of a joint Action Plan for the development of bilateral trade, a joint Program for the development of industrial cooperation with the inclusion of investment projects in the fields of energy, petrochemistry, chemistry, agriculture, food industry, tourism and IT sector. Measures were agreed to prepare for the signing of Double Taxation Agreement and Bilateral Investment Treaty. Through joint efforts of the parties, a business forum will be organized in Tashkent with the participation of representatives of large business circles of the two countries.

During the conversation with Ali Al Kuwari, Minister of Finance, an agreement was reached on taking practical measures to co-finance a number of infrastructure projects.

With Abdullah Al–Thani, Governor of Qatar Central Bank, Chairman of the Investment Promotion Agency, an agreement was reached to establish direct interaction between Qatari and Uzbek commercial banks.

The implementation of joint projects in the field of energy with Nebras Power was discussed with Saad Al-Kaabi, Minister of State for Energy Affairs, Chairman of Qatar Energy.

During the meeting with Khalifa Al Thani, Chairman of the Qatar Chamber, an agreement was reached on the establishment of a joint Business Council.
During the negotiations with the heads of Qatar National Cement Company, Baladna, Qatari Diar, Fitco Detergents, Katara Hospitality, prospects for the implementation of major projects in the production of building materials, household chemicals, animal husbandry, construction of hotel, shopping and entertainment and residential complexes were discussed.

The meetings allowed the parties to synchronize watches and work out concrete measures to expand partnership and fully implement all the projects and initiatives considered.

Source: Ministry of Investments, Industry and Trade of the Republic of Uzbekistan