The Qatar Chamber (QC) and the Portuguese International Trade and Investment Agency (AICEP) have signed a memorandum of understanding (MoU) in order to foster the development and diversification of commercial exchanges and economic cooperation.
The MoU was signed by Qatar Chamber’s First Vice Chairman, Mohamed bin Ahmed bin Twar Al Kuwari, and AICEP’s Chairman, Filipe Santos Costa, at the Chambers headquarters.
According to the statement, the MoU also aims to exchange economic information, cooperate in fairs, facilitate mutual visits, and organize joint meetings of businessmen in order to promote collaboration in business areas.
On this occasion, Al Kuwari commended the relations between Qatar and Portugal, especially in economic and commercial areas. The QC First Vice Chairman noted that the MoU aims to strengthen commercial cooperation between both parties, streamline procedures, and foster cooperation between businessmen from both countries.
Al Kuwari also highlighted that there are many fields for cooperation between the Qatari private sector and its Portuguese counterpart, indicating that the two countries’ trade volume reached $101 million (QR 370 million) last year and there is a possibility to develop it in the years to come.
For his part, Felipe Santos Costa expressed his pleasure in signing this MoU with the Qatar Chamber to develop cooperation in the economic and investment fields. AICEP’s Chairman further added that Portugal had many investment opportunities in different sectors, especially in energy, petrochemicals, chemicals, and technology.
Earlier this month, the Qatar Chamber discussed developing commercial relations with Australia, establishing partnerships in vital sectors. The Chamber also explored the possibility of signing a memorandum of understanding between both chambers to cement cooperation, exchange information, and visits, and coordinate bilateral meetings.
