Doha, May 25 (QNA) - The Qatar Chamber revealed that the volume of trade between the State of Qatar and Brazil reached approximately QAR 1.3 billion in 2024.

This came during the 'Brazilian Northeast Trade and Investment' Seminar, held on Sunday.

The event was attended by Second Vice-Chairman of Qatar Chamber Rashid bin Hamad Al Athba; President of the Arab-Brazilian Chamber of Commerce William Adibe Junior; HE Ambassador of the Federative Republic of Brazil Marcelo Otavio Dantas Loures da Costa, along with several state governors and executives of major companies from the Northeast region of Brazil.

In his speech, Al Athba stated that the convening of this investment seminar reflects the depth of the friendly relations between the State of Qatar and the Federative Republic of Brazil, particularly in the trade and economic fields. He noted that bilateral relations have witnessed significant development in recent years, which is clearly reflected in the level of bilateral trade, indicating both sides' commitment to expanding trade cooperation.

The chamber's Second Vice-Chairman highlighted that Qatar offers one of the most attractive investment environments in the region, thanks to its advanced infrastructure, stable economic policies, and investor-friendly legislative framework.

He also noted that 18 Brazilian companies are currently operating in the Qatari market, one of which is fully owned by Brazilian capital, while 17 are joint ventures with Qatari partners, operating in a variety of sectors.

He affirmed that Qatar Chamber encourages and supports the establishment of more such partnerships and continuously seeks to create new platforms to foster communication between the private sectors of both countries.

Al Athba added that the Northeast region of Brazil, with its natural and human resources and promising economic sectors, represents a strategic opportunity to enhance trade and investment exchange. He emphasized that Qatar Chamber is open to any initiative that aims to strengthen cooperation between the Qatari and Brazilian business communities.

For his part President of the Arab-Brazilian Chamber of Commerce William Adibe Junior, praised the strong relations between Qatar and Brazil, especially in trade and economic sectors, and expressed the shared desire to further develop these ties.

He pointed out that the Northeast region comprises nine states and is rich with profitable investment opportunities, particularly in renewable energy, industry, agriculture, artificial intelligence, infrastructure, and logistics, all of which are likely to attract the interest of Qatari investors.

HE Ambassador of Brazil to the State of Qatar also praised the strong ties between the two countries. He highlighted that the Northeast is the fastest-growing region in Brazil and offers investment opportunities in infrastructure, including ports and airports, as well as in the tourism and hospitality sectors. (QNA)