Qatar and Australia Chambers Strengthen Cooperation with MoU

Qatar, 29 May, 2024 : The Qatar Chamber (QC) and the Australian Chamber of Commerce and Industry (ACCI) have inked a Memorandum of Understanding (MoU) to enhance trade and investment opportunities between the two countries.

QC First Vice-Chairman Mohamed bin Twar Al Kuwari and ACCI Vice President Lyall Gorman signed the agreement in the presence of H E Shane Flanagan, Ambassador of Australia to the State of Qatar.

The MoU aims to bolster business relationships by facilitating cooperation and mutual understanding through data and information exchange on trade, investment, and economic conditions. It also promotes introductions between members of both chambers to enhance trade and investment.

Moreover, leveraging their memberships in international organizations such as the International Chamber of Commerce and the International Organisation of Employers, the chambers will advance the objectives of the MoU.

Mohamed bin Twar emphasized that the agreement signals a new phase of cooperation, fostering economic and commercial ties between Qatari and Australian businessmen. He highlighted that bilateral trade between the two countries reached QR2.58 billion last year.

Lyall Gorman expressed his enthusiasm for the formal relationship between the two chambers, anticipating significant opportunities for mutual benefit. He emphasized the importance of strategic dialogue to enhance economic activity, information exchange, and connectivity at all levels of business.

Andrew McKellar, ACCI Chief Executive Officer, anticipated that the partnership would open new avenues for members to explore business opportunities and forge lasting economic partnerships.

H E Shane Flanagan, Australian Ambassador to Qatar, hailed the MoU as a crucial step in advancing trade and economic cooperation between Australia and Qatar. He highlighted the significant growth in two-way trade, emphasizing the agreement's role in encouraging more companies from both countries to explore opportunities and strengthen bilateral links.

Source : www.zawya.com