Qatar-Russia Trade Soars to $91 Million in 2023, Sparking Growth Opportunities

Qatar, 22 May, 2024 : Bilateral trade between Qatar and Russia witnessed a 7.5% year-on-year increase, reaching $91 million in 2023, according to Pavel Kalmychek, Director of the Russian Ministry of Economic Development’s Department for the Development of Bilateral Cooperation.

Speaking at the Russia-Qatar Business Dialogue during the 2024 KazanForum in Kazan, Russia, Kalmychek emphasized the potential for significant growth in bilateral trade. He invited Qatari investments, highlighting Russia's regulatory framework and investment protection agreements.

Kalmychek identified sectors such as agriculture and tourism as areas ripe for expansion. He noted a threefold increase in agricultural exports to Qatar over the past three years and highlighted efforts to promote "Halal tourism" for Qatari visitors to Russia.

Alexander Larin, Member of the General Council of Energotransproekt and Business Russia, highlighted the successful development of Russo-Qatar relations and stressed the need for further collaboration. Larin outlined sectors such as agriculture, transport, logistics, R&D, and financial cooperation as areas with untapped potential.

Ahmed Al Enazi, the Planning and Strategic Initiative Director at Qatar Science and Technology Park, emphasized the long-standing collaboration between Qatar and Russia across various fields. Al Enazi highlighted the role of QSTP in fostering research and innovation, including hosting the Rosneft International Center of Research and Development.

The dialogue underscored the mutual benefits of collaboration between Qatar and Russia, signaling opportunities for further cooperation and investment in key sectors.

Source : www.zawya.com