UAE and Qatar explore new avenues to foster economic ties and strengthen cooperation at the private sector level

H.E. Bin Touq underscores the historic ties shared by the two countries, reaffirming commitment to forging new partnerships in sustainable economic sectors

H.E. Abdulla bin Touq Al Marri, Minister of Economy, held a bilateral meeting with H.E. Sheikh Faisal bin Thani bin Faisal Al Thani, Qatar's Minister of Commerce and Industry, at the Ministry’s headquarters in Dubai. The meeting explored the expansion of economic partnerships and the strengthening of collaboration between the two countries in priority sectors, including the new economy, entrepreneurship, manufacturing, circular economy, agriculture, renewable energy, tourism, and aviation.

H.E. Bin Touq emphasized the deep-rooted historical ties and strong fraternal relations that bind the UAE and Qatar, which have fostered collaboration that has driven development and prosperity across numerous sectors in both nations, particularly in economic and investment fields. His Excellency noted that the deepening cooperation between the two major economies enhances economic gains for both parties, driving comprehensive economic development in the region.

Shared visions for sustainable economic growth

During the meeting, H.E. Bin Touq, said: "The UAE and Qatar share common visions and goals for economic diversification, reducing dependence on oil, and increasing investments in new economy sectors. Both nations are accelerating their shift toward sustainable and competitive economic models driven by knowledge and innovation. This alignment fosters opportunities for economic and investment collaboration across government and private sectors, laying the foundation for a more advanced economic future.  These efforts are in line with the national strategies of both our nations, specifically ‘We the UAE 2031’ and ‘Qatar National Vision 2030."

Enhancing collaboration between the two business communities

H.E. Bin Touq added: “Today's meeting serves as a vital opportunity to explore ways to establish new partnerships in diverse and sustainable economic sectors. These efforts aim to strengthen mutual economic ties and open up new avenues for collaboration between the Emirati and Qatari business communities."

The two ministers discussed the importance of continuing joint efforts to provide all necessary support to business owners and exporters in both markets, facilitating and increasing the exchange of goods and services while also diversifying them. They emphasized the need to open new communication channels between investors, entrepreneurs, and companies from both sides to explore economic and investment opportunities in key sectors within their respective markets.

Competitive advantages of the UAE’s business environment

In this context, H.E. Bin Touq highlighted the UAE's key economic legislative developments, including the issuance and updating of more than 30 legislations and resolutions over the past four years. These include the laws on e-commerce, arbitration, commercial transactions, family businesses, and cooperatives, as well as the granting of 100 per cent foreign ownership of companies.

Furthermore, H.E. emphasized the UAE’s strengths as a competitive business environment for establishing economic and commercial activities, along with the wealth of opportunities in new economy sectors, such as fintech, artificial intelligence, entrepreneurship, advanced manufacturing, food, and clean energy.

Qatar invited to attend Investopia

At the conclusion of the meeting, H.E. Bin Touq extended an invitation to the Qatari delegation to attend and participate in the fourth edition of Investopia, set to take place in February 2025. The event will serve as a significant opportunity to discuss ways to leverage the promising opportunities offered by the UAE to investors from around the world and to enhance collaboration across various economic sectors.