Doha, October 6 (QNA) - The fifth session of the Qatar-India Joint Commission on Economic and Commercial Cooperation was held on Monday in Doha, co-chaired by HE Minister of Commerce and Industry Sheikh Faisal bin Thani bin Faisal Al-Thani, and HE Minister of Commerce and Industry of the Republic of India Piyush Goyal, with the participation of a number of senior officials from both sides.

In his speech, HE the Minister of Commerce and Industry emphasized the depth and strength of bilateral relations between the State of Qatar and the Republic of India, noting that the committee represents an important platform for discussing various economic issues of mutual interest, following up on the results achieved, and enhancing cooperation in the fields of trade and investment.

He also expressed the State of Qatar's aspiration to sign more memoranda of understanding (MoUs) that would contribute to consolidating the economic partnership between the two countries.

HE the Minister said that the Republic of India is Qatar's third largest trading partner, with trade volume between the two countries reaching approximately USD 13.1 billion in 2024.

He highlighted the important role of the private sector in developing economic partnerships and increasing joint investments.

He also highlighted Qatar's efforts to modernize legislation and improve the business environment in line with Qatar National Vision 2030 and the Third National Development Strategy (2024-2030).

During the committee's work, the two sides discussed enhancing cooperation in several priority sectors, including trade, investment, the financial sector, agriculture, municipalities and sustainability, the environment, information technology, labor, tourism, sports, transportation, culture, education, and healthcare.

They also agreed to take practical steps to expand cooperation, increase trade volume, and facilitate the flow of goods, services, and investments between the two countries.

On the sidelines of the committee's meetings, HE Sheikh Faisal bin Thani bin Faisal Al-Thani attended the launch of the Qatar-India Joint Business Council meeting, with the participation of several ministers, senior officials, and businessmen from both countries.

In his remarks on this occasion, HE the Minister of Commerce and Industry affirmed that the convening of the Business Council represents an important milestone in the economic cooperation between Qatar and India, and an effective platform for strengthening partnerships between the private sectors of both countries and exploring new opportunities in trade and investment.

His Excellency expressed his confidence that the Council will contribute to enhancing joint cooperation and opening up broader horizons for economic integration, benefiting both friendly countries. (QNA)