Qatar Aims to Strengthen Trade Relations with Russia, Affirms MoCI Undersecretary

Mohammed bin Hassan Al Malki Undersecretary of the MoCI

Qatar is eager to bolster its trade and industrial partnerships with Russia across various sectors, emphasizing increased collaboration between the private sectors of both nations, a senior official has stated.

Mohammed bin Hassan Al Malki, Undersecretary of the Ministry of Commerce and Industry (MoCI), disclosed that the trade volume between Qatar and Russia stood at approximately $18 million last year. Speaking to The Peninsula during the 15th KazanForum in Russia, Al Malki expressed dissatisfaction with this figure, highlighting the desire for substantial growth and deeper engagement between Qatari and Russian private enterprises.

Al Malki elaborated, noting that the trade between Qatar and Russia predominantly revolves around petrochemicals and energy. He emphasized the importance of Qatar's participation in the expo to explore avenues for expanding trade, not only in the Halal food sector but also in real estate and utility investments.

This year marks Qatar's 15th consecutive participation in the KazanForum, aimed at enhancing economic cooperation and fostering strong bilateral ties, particularly with Kazan, Russia. The Qatari delegation includes representatives from various government bodies such as MoCI and the Ministry of Awqaf and Islamic Affairs.

During the forum, Qatari officials engaged in discussions with their Russian counterparts and other participants. Representatives from Qatar Financial Centre and Investment Promotion Agency are slated to deliver speeches at different sessions of the forum, which runs until May 19.

The 15th International Economic Forum "Russia-Islamic World: KazanForum" 2024 commenced with the attendance of senior officials from Russia's Tatarstan region, along with representatives from several Muslim countries and the Organization of Islamic Cooperation (OIC). Prime Minister Alexey Pesoshin of Tatarstan emphasized the growing importance of relations between Russia and the Islamic world, highlighting a 37% increase in trade turnover between Russia and OIC countries, amounting to over $156 billion.

With the theme "Trust and Cooperation," this year's forum aims to strengthen trade, economic, scientific, technical, social, and cultural ties between Russian regions and OIC countries, while also promoting the development of Islamic financial institutions in Russia. The exhibition includes participation from 11 countries and 17 regions of Russia.

 

Source: The Peninsula Qatar