London, (Business News Report)|| The trade exchange between the State of Qatar and Hong Kong amounted to 1.25 billion Qatari riyals, during the past year 2021.
The trade exchange between the two countries increased by 4% compared to 2020, when the exchange amounted to 1.20 billion riyals.
The large number of trade exchanges between Qatar and Hong Kong during the past two years came despite the Coronavirus pandemic, which reflects the size of the economic relations between the two countries.
In turn, Rashid bin Hamad Al-Athba, Second Vice-President of Qatar Chamber, discussed, at the Chamber’s headquarters, Mr. Stephen Phillips, Director-General of the Hong Kong Investment Authority.
During the meeting, they discussed trade and economic cooperation between business owners in Qatar and Hong Kong, and reviewed opportunities for partnership between the private sector in the two countries.
During the meeting, Al-Athba said that the State of Qatar welcomes all investments and is a distinguished investment destination thanks to the commercial facilities and incentives.
He stressed that there are great opportunities for the Qatari private sector and its counterpart in Hong Kong to cooperate and establish partnerships, especially in light of the existing projects in Qatar related to the 2022 World Cup or the infrastructure, or even the projects that will be established after that.
Al-Athba also stressed the Chamber’s keenness to encourage Qatari investors to learn about investment opportunities available in Hong Kong, by circulating to the Chamber’s affiliates about the projects that Hong Kong provides to investors.
For his part, Stephen Phillips stressed the desire of the private sector in Hong Kong to learn about the opportunities available in Qatar, and the possibility of entering into joint projects with Qatari businessmen in a number of sectors such as hospitality, tourism, retail trade, banks and others.
He also affirmed his country’s desire to enhance trade with Qatar and raise the volume of trade exchange between the two countries.
In a separate context, the Qatar Central Bank expected the country’s GDP to grow by 3.5% during the current year 2022.
The Governor of the Bank of Qatar, Sheikh Bandar bin Mohammed bin Saud Al Thani, said it is expected that the energy-rich Gulf country plans to start granting licenses to financial technology companies soon.
Meanwhile, the Fitch Ratings Agency, in April, expected Qatar’s gross domestic product to grow 3.2% in 2022, from 1.6% in 2021.