Qatar and Spain launch a Joint Business Council in line with strong relations

11/03/21

The State of Qatar and the Kingdom of Spain have announced the establishment of the Qatari-Spanish Joint Business Council during a recent webinar.

The signing of a memorandum of understanding between the Qatari Businessmen Association (QBA) and the Confederation of Employers & Industries of Spain (CEOE) signals another step in the historic relations between the countries. It is expected that the memorandum of understanding will contribute to economic development and to further strengthen the cooperation between the countries - especially in terms of commerce, trade and investment.

It was announced that the total trade volume between Qatar and Spain reached QAR 2.75 billion (USD 750 million) in the first eleven months of 2020 despite the pandemic and the significant economic impact.

Currently, Qatar`s investments in Spain amount to QAR 92.4 billion (EUR 21 billion) across various sectors including energy, sports and real estate. Qatar Investment Authority (QIA) is the second largest shareholder in the Spanish Stock Exchange.

On the contrary, Spain’s representation in Qatar consists of 210 companies operating in many sectors including renewable energy and infrastructure. Spanish businesses offer expertise and experience as well as knowledge in the fields of agriculture, livestock, electronic transformation and sports in particular.

Major sporting events in Qatar, most notably the 2022 FIFA World Cup, will present new opportunities for Spanish businesses across a wide range of sectors inside and outside of the free zones and the special economic zones in the country.

Other possibilities for foreign investors in Qatar include agriculture, health, education, travel and tourism, culture, sports, energy, industrial, distribution, imports and exports, information and communication technology, finance and financial services and others.

Business Start Up Qatar is working with business councils and the relevant stakeholders in the countries to raise awareness of the possibilities and opportunities in Qatar and Spain. Please click on the link and reach out to learn more about the initiatives and Business Start Up Qatar.

Other News

BSUQ News 104 - Thumb

M7 and QSTP partner to target Qatar’s fashion and design sectors

M7 and Qatar Science & Technology Park (QSTP) have announced a partnership to strengthen Qatar`s entrepreneurship ecosystem.

The agreement provides for M7, an affiliate...

Read more
BSUQ News 103 - Thumb

Contracts in construction at the top of the mega projects in Qatar

A Qatar International Centre for Conciliation & Arbitration (QICCA) webinar discussed...

Read more
BSUQ News 102 - Thumb - New

Bedaya and stakeholders equip entrepreneurs on their journey in Qatar

The Bedaya Centre for Entrepreneurship & Career Development recently concluded a series of workshops as part of their ongoing foundation program.

The workshops were delivered online with the object...

Read more
BSUQ News 101 - Thumb - New

QFTH ends second wave of incubator and accelerator with demo day

Qatar FinTech Hub (QFTH) recently held the virtual Demo Day for the second wave of the incubator and accelerator program.

The major FinTech event hosted key players from Qatar’s ecosystem as well...

Read more
BSUQ News 100 - Thumb - New

A snapshot of the venture capital market in the State of Qatar

Qatar`s venture capital market has proven to be resilient despite the pandemic according to the most recent data and information.

The Qatar Venture Investment Report 2020...

Read more
BSUQ News 99 - Thumb - New

Qatar raises awareness for best practices in circular economy

The Josoor Institute held a webinar discussing the circular economy, an economic approach aimed at minimising waste, very recently.

The Josoor Institute is...

Read more
BSUQ News 98 - Thumb - New

Stakeholders in Qatar reiterate their commitment for tourism and travel

The State of Qatar has revealed an ambitious National Tourism Strategy which aims to position the country as a leading destination for tourism and travel.

Qatar has a lot to offer...

Read more
BSUQ News 97 - Thumb

Takeaways and lessons learned from the first Qatar Economic Forum

The Qatar Economic Forum concluded very recently and demonstrated the country’s position as an important centre for business, trade and investment. The virtual event provided a platform to exchange views,...

Read more

Page Break