The Qatar Chamber (QC) and the Confederation of Industry of the Czech Republic have signed a memorandum of understanding (MoU) to bolster cooperation and strengthen relations between the private sectors of both countries.
This came during the Qatar-Czech Business Meeting, attended by QC First Vice-Chairman Mohamed bin Twar Al Kuwari and HE Minister of Industry and Trade of the Czech Republic Jozef Sikela.
The MoU was signed by QC Board Member Abdulla bin Mohamed Al Emadi and Petr Jonak, Board Member of the Confederation of Industry of the Czech Republic. The business meeting focused on ways to enhance cooperation relations between both entities and to promote trade volume between the two countries.
QC’s First Vice-Chairman said that Qatar and the Czech Republic enjoyed strong relations across various fields, emphasizing a shared desire to further enhance these relations, especially in the commercial and economic fields.
Mohamed Al Kuwari pointed out that the trade exchange between both countries amounted to about QR 630 million ($172 million) last year. Al Kuwari expressed his hope to increase the two countries’ trade, which he believes can be achieved through strengthened cooperation between the private sector of both countries.
Al Kuwari also indicated that there are many companies from the Czech Republic operating in Qatar across various sectors, including services, hospitality, sports consultancy, food trade, and others.
Elaborating on Qatar’s investment climate, he pointed out that the state offers an attractive environment for foreign investors, supported by integrated infrastructure and a strategic location that provides significant access to global markets.
The MoU provides a wide range of incentives to attract foreign investments, including allowing foreign investors to own up to 100 percent of various sectors and economic activities. Furthermore, it boasts advanced infrastructure, and favorable economic laws and legislation.
QC’s First Vice-Chairman called on Czech companies to invest in Qatar and capitalize on its attractive investment climate and the incentives it offers to foreign investors, emphasizing that Qatar has become a global logistic hub.
Al Kuwari added that, “Qatar Chamber encourages Qatari businessmen to invest in the Czech Republic, which enjoys a privileged location in within Europe, making it a significant market that links the European Union countries. Furthermore, Czech products are known for their quality, and the country offers innovative projects in many fields.”
HE Sikela also said that the two countries’ trade volume has doubled in recent years, stressing the private sector’s key role in developing trade between both sides.
HE emphasized the interest of Czech companies in boosting cooperation with their counterparts from Qatar and forming economic alliances across various sectors, including energy, smart cities, infrastructure, and more.
The Czech Minister further praised the advancements Qatar is witnessing in all fields in line with Qatar National Vision 2030, especially in cutting-edge technology, infrastructure, and tourism.
For his part, Petr Jonak said that his country’s economy depends on innovative industries, stressing the need for both sides to focus on these areas and integrate Czech technology into Qatari industries.
He also noted that Czech companies have a strong presence in the Qatari market, especially in high-value goods. Jonak also indicated that the Czech delegation included representatives of 12 companies specializing in sectors like mining, energy, agriculture, cyber security, healthcare, and pharmaceutical, emphasizing that these companies are eager to strengthen cooperation with Qatari companies and establish economic alliances.
