Qatar Seeks Enhanced Trade Ties with Russia at Kazan Forum

Qatar, 17 May, 2024 :  Qatar expresses eagerness to bolster trade and industry ties with Russia across various sectors, emphasizing increased collaboration between private sectors of both nations, stated Mohammed bin Hassan Al Malki, Undersecretary of the Ministry of Commerce and Industry (MoCI). Al Malki noted that the trade volume between Qatar and Russia reached around $18 million last year, a figure they aim to elevate significantly. He highlighted the focus on diversifying trade beyond petrochemicals and energy, exploring opportunities in sectors like Halal food, real estate, and utilities. Qatar's consistent participation in the annual KazanForum underscores its commitment to fostering economic collaboration and nurturing strong relations with Russia, particularly Kazan.

The Qatari delegation, comprising officials from MoCI, the Ministry of Awqaf and Islamic Affairs, and other entities, engaged in discussions with Russian officials and event participants, seeking avenues for partnership and investment. Representatives from Qatar Financial Centre and Investment Promotion Agency are slated to contribute to various sessions of the forum, which continues until May 19.

The 15th International Economic Forum "Russia-Islamic World: KazanForum" 2024 commenced with the participation of top officials from Russia's Tatarstan region, representatives from several Muslim countries, and the Organization of Islamic Cooperation (OIC). Tatarstan Prime Minister Alexey Pesoshin highlighted the growing relations between Russia and OIC countries, with trade turnover witnessing a significant increase. The forum aims to foster trust and cooperation, promoting economic, scientific, technical, social, and cultural ties between Russian regions and OIC countries while advancing the development of Islamic financial institutions in Russia.

Source : www.zawya.com