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Qatar, Kazakhstan Agree to Take Further Steps to Strengthen Trade BUSINESS BUSINESSBU | 04 BUSINESS | 05 PwC’sP Garvey Global economic forecastsforec ‘delicate policy direction 22020’0 for global now hinges on economy China’s next move MONDAY 17 FEBRUARY 2020 Qatar, Kazakhstan agree to take further steps to strengthen trade, investment cooperation THE PENINSULA — DOHA the ease of doing business for the year activation of existing agreements 2020, the Minister added. including an agreement on the pro- Qatar has succeeded in achieving a Speaking earlier during the opening tection and promotion of mutual balanced economic growth as well as of the session, Minister Al Kuwari high- investments and a memorandum of economic diversification and inde- lighted the friendly relations, strong understanding on air transport, which pendence in line with its National Vision ties and bilateral cooperation between was ratified on November 7 2019, to 2030 and the Second National Devel- Qatar and Kazakhstan, urging operate 7 flights between the cities of opment Strategy 2018-2022, Minister increased efforts to establish a stra- Doha and Nur Sultan and 7 additional of Commerce and Industry, H E Ali bin tegic partnership in the trade and flights between Doha and the city of Ahmed Al Kuwari has said. investment fields. Almaty. The MoU will pave the way for Minister Al Kuwari was speaking The Minister also called for further collaboration in the touristic during the 5th session of the Qatari- increased cooperation on the govern- field, the Minister added. Kazakh Joint Higher Committee, which mental level to engage the Qatari and Minister Al Kuwari added that he co-chaired with Kazakhstan’s Min- Kazakh business sectors in dialogue Qatar looks forward to contributing to ister of National Economy H E Raslan and to enable the private sector in both the privatisation programme that Dalenov in Nur Sultan on February countries to enter into successful Kazakhstan is currently undertaking 13-14. investment partnerships that will and to channeling investments into Speaking during the event, Min- bolster bilateral relations. sectors that will serve the development ister H E Al Kuwari said Qatar has In his speech, Minister Al Kuwari orientations of both countries. sought to accelerate the implemen- reiterated the importance of following The fifth session of the Qatari- tation of initiatives and measures up on the recommendations issued by Kazakh Joint Higher Committee aimed at cementing its position as a the Qatari-Kazakh Joint Higher Com- touched on the promotion of bilateral leading regional investment and mittee during its previous session in cooperation in various sectors of business hub, noting that Qatar has Doha, particularly when it comes to mutual interest to both countries. worked on improving its business envi- Prime Minister of Kazakhstan, H E Askar Mamin, and H E Ali bin Ahmed Al Kuwari the activation of the agreement on the The committee also discussed ronment to attract foreign investors. (left), Minister of Commerce and Industry, holding discussions on the sidelines of establishment of a joint businessmen issues related to strengthening coop- In addition to opening its economy the fifth session of the Qatari-Kazakh Joint Higher Committee held in Nur Sultan. council, which was signed in 2008 to eration between both countries in to global markets and building fruitful bolster bilateral investments and trade. various fields, including the trade, international partnerships, Minister Al such as the Hamad International Thanks to these efforts, Qatar has He also hailed the progress investment, industry, agriculture, Kuwari explained that Qatar is capi- Airport, Hamad Port, free zones and been ranked among the top 20 coun- achieved in terms of the signing of new health, education, infrastructure and talising on its advanced infrastructure logistical and industrial areas. tries to undertake reforms to improve memoranda of cooperation and the energy sectors. France warns of Brexit talks battle AFP — MUNICH, GERMANY France yesterday warned Boost for SMEs Britain to expect a bitter, bloody battle in Brexit trade talks with the EU, 'Land and Industrial Loan' saying the two sides would “rip each other apart”. to spur growth Negotiations for a deal on future EU-UK relations H E Ahmad bin Mohammed Al Sayed (right), Minister of State are not due to start until and Chairman of Qatar Free Zones Authority, and Sheikh Faisal next month, but London bin Qasim Al Thani, Chairman of Qatar Businessmen Association and Brussels have already (QBA), after signing the MoU at the Business Innovation Complex clashed over rules for in Ras Bufontas Free Zone, yesterday. British financial firms’ access to the EU after Brexit. Projects worth QR3bn French Foreign Min- ister Jean-Yves le Drian said it would be tough to for free zones approved achieve Britain’s aim of MOCI and QDB launch ‘Land agreeing a free trade deal MOHAMMAD SHOEB Authority, as part of the gov- by the end of the year, with THE PENINSULA ernment, are highly focused in the two sides far apart on supporting the private sector. a range of issues. and Industrial Loan’ facility The Minister of State and This is (the MoU with QBA) a very “I think that on trade Chairman of Qatar Free Zones important initiative to enable the issues and the mechanism THE PENINSULA — DOHA The initiative aims to provide investors must fill out and submit Authority (QFZA), H E Ahmad private sector to give them the for future relations, which support for Qatari investors and the application electronically bin Mohammed Al Sayed, said full support to attract interna- we are going to start on, we In a big boost to the country’s encourage entrepreneurs and through the Single Window yesterday that the Supreme tional partners and to work are going to rip each other emerging Small and Medium small and medium-sized com- Services website on sin- Council for Economic Affairs together with the aim to boost apart,” Le Drian said at the Enterprises (SMEs), the Ministry panies to easily invest in the glewindow.gov.qa. Investors and Investment (SCEAI) has investments in the Free Zones. Munich Security of Commerce and Industry industrial sector in a relatively must also provide all the required approved projects worth more Asked about the fund allo- Conference. (MOCI), in cooperation with short time by enabling investors documents (a complete feasibility than QR3bn, which is a signif- cation for the QFZA, the Min- “But that is part of nego- Qatar development Bank, to apply through a single study - the engineering plan - a icant rise compared to QR1bn ister said: “We have a lot of tiations, everyone will yesterday announced the launch platform, namely the Single copy of the audited financial last August. projects already attracting defend their own interests.” of an innovative “Land and Window Services, the Ministry accounts) and any other docu- The QFZA is set to establish more than QR3bn which the Britain formally left the EU Industrial Loan” initiative. said in a statement. ments that may be requested more partnerships with local Supreme Council (SCEAI) two weeks ago but still Launched under the guidance of The statement noted the during the application review and international companies approved last week. There is trades like a member under H E Sheikh Khalid bin Khalifa bin Ministry of Commerce and period. and investors to accelerate the good demand here and we are a transition period ticking Abdulaziz Al Thani, Prime Industry is working on securing After submitting the appli- process of economic and indus- going to establish more part- down to the end of this year. Minister and Interior Minister, the industrial lands of various sizes cation and the required docu- trial diversification, H E Min- nerships internationally as well The remaining 27 EU initiative is in the context of the for investors in the industrial ments, a technical team from the ister Al Sayed told The as locally.” states are currently State’s ongoing efforts to improve sector to undertake promising Ministry and Qatar Development Peninsula on the sidelines of an The majority of these drawing up their mandate the ease of doing business in projects that add value to the Bank will review the application. event yesterday. projects are focused on the new for the talks on the future Qatar and to bolster the local economy. Qatar Devel- The Land Commission will also The QFZA and Qatari Busi- economy, internet of things, relationship, with France investment environment for opment Bank is playing a role in review the application. nessmen Association (QBA) sustainability, IT, big data, com- in particular pushing for a owners of small and medium financing feasible industrial The initiative falls within signed a memorandum of munications, transport, strong stance, notably on enterprises and entrepreneurs. projects that add value to the the framework of joint efforts understanding (MoU) that logistics, medical services, avi- the vexed question of The initiative will enable national economy. to promote startups, includes means of joint coop- ation, cyberspace, and agritech. fishing. France and several investors to apply through the While the Ministry of Com- encourage promising small eration and benefiting from the The council lastly discussed other countries want to be Single Window platform of the merce and Industry is seeking to and medium-sized enterprises services provided by these two a draft strategic partnership able to keep fishing in Ministry of Commerce and meet all requirements for prom- to engage in industrial activ- economic institutions to the between Qatar Free Zones British waters, while Industry to secure industrial ising industrial projects, Qatar ities in various sectors, stim- local and external investor in Authority and Qatar Petroleum. London wants full licenses and land plots in the Development Bank is focused on ulate manufacturing indus- order to enhance investments The partnership aims to unite autonomy and limited small and medium industrial providing financing for industrial tries, improve services offered and support the economic efforts in attracting major com- access for European area and to complete financing projects.
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