Doha, October 16 (QNA) - The Qatar Chamber (QC) hosted, on Thursday, a high-level business delegation from the United Arab Emirates (UAE), comprising more than 50 businessmen and businesswomen.

The delegation was headed by Vice President of the Federation of UAE Chambers and President of the Sharjah Chamber of Commerce and Industry, Abdullah bin Sultan Al Owais.

During the meeting, both sides discussed trade and economic cooperation relations between both countries and ways to enhance and develop them, as well as the role of the private sector in strengthening these relations and contributing further to increasing trade and investment exchange.

Discussions also touched on promoting mutual investments in the fields of food security, renewable energy, artificial intelligence, and logistics services.

In his remarks, Chairman of the Qatar Chamber, HE Sheikh Khalifa bin Jassim bin Mohammed Al-Thani said that trade and economic relations between Qatar and the UAE represent a model of strong Gulf cooperation, supported by the clear vision and will of the leaders of both brotherly countries. He noted that bilateral trade between the two nations witnessed a 50 percent growth last year, reaching QAR 28 billion compared to QAR 18 billion in the previous year.

He added that both countries serve as platforms for major initiatives and hubs for attracting international investments and markets, emphasizing that this provides opportunities for the Qatari and Emirati private sectors to cooperate in fields such as renewable energy, manufacturing industries, logistics services, food security, tourism, digital technology, and artificial intelligence.

He also affirmed that this meeting constitutes a practical step toward creating a more open and integrated environment for investors from both sides, enhancing the

exchange of experience and knowledge, and addressing challenges that may hinder the growth of economic exchange.

QC Chairman expressed his hope that the coming phase will witness the establishment of long-term strategic partnerships that go beyond traditional cooperation to include innovation, digital transformation, and sustainability, enabling businessmen and entrepreneurs from both countries to develop value-added projects that contribute to diversifying the Gulf economy and enhancing its global competitiveness.

For his part, Abdullah Al Owais affirmed that the advanced economic relations between the two nations reflect the depth of the fraternal ties between them, praising the efforts of the wise leaderships in both countries to further develop trade cooperation.

He pointed out that Qatari investments in the UAE amount to about AED 5 billion, while the volume of direct Emirati investments in Qatar stands at nearly AED 29 billion across a wide range of economic sectors. He noted that these partnerships encourage the private sectors in both countries to explore new opportunities and focus on key areas for cooperation, such as food security, healthcare, infrastructure, and technology, among others.

Al Owais commended the cooperation between the Federation of UAE Chambers and the Qatar Chamber, noting that it represents a model of collaboration aimed at enhancing and increasing the private sector's contribution to driving economic growth and boosting intra-trade exchange.

He called for intensifying joint meetings between representatives of the private sector and business owners from both countries.

Al Owais also praised the great efforts exerted by HE Sheikh Khalifa at the level of Gulf, Arab, and joint Arab-foreign chambers, noting that these efforts reflect the vital role played by chambers of commerce in driving economic development.

During the meeting, several presentations were delivered by both sides. From the Qatari side, Invest Qatar, the Qatar Free Zones Authority, and Qatar Development Bank gave presentations highlighting the business environment in Qatar and the available investment opportunities.

Meanwhile, the UAE Ministry of Foreign Trade presented an overview of the investment environment in the United Arab Emirates. (QNA)