Qatar and Russia celebrated the St. Petersburg International Economic Forum (SPIEF 2021) in Russia in June, where the State of Qatar was represented as a “guest country”.
SPIEF was founded in 1997 and is the largest investment and economic forum in the eastern hemisphere. It is organised by the Roscongress Foundation and supported by the Qatari Russian Centre for Cooperation (QRCC), a business council found to explore opportunities for collaborations and cooperations between Qatar and Russia.
Qatar is one of the largest investors from the GCC in Russia and the volume of trade has seen an increase of 200 percent over the last seven years. This trend is expected to continue as trade exchange increased by 47 percent to reach QAR 1.1 billion (USD 296 million) in 2020 compared to 2019. From Qatar’s perspective, agricultural products including wheat and barley are at the top of the imports from Russia while hydrocarbons and construction materials are at the top of the exports to Russia.
The forum represented a new era of bilateral cooperation between the two countries. The delegation from Qatar consisted of representatives from 50 public and private organizations. The event resulted in 60 memoranda of understandings and other types of agreements in sectors including business, investment and trade, sports, tourism and education. Agreements were also signed in the areas of energy, retail and real estate.
Presently, there are more than 50 Russian companies operating in the State of Qatar. A prominent example is the Rosneft International Centre for Research & Development under the Qatar Science & Technology Park (QSTP). It is a subsidiary of the Rosneft Oil Company and a full-scale representative office performing scientific, technical, engineering and educational activities.
Please click on the link and reach out to learn more about the relations between Qatar and Russia and the opportunities and possibilities in the State of Qatar as well as the initiatives of Business Start Up Qatar.
The Investment Promotion Agency Qatar (IPA) revealed that Qatar attracted 71% of all Middle East investment in the second quarter of this year.Read more
Qatar is seeing an increase in social entrepreneurs dedicated to developing solutions to community based problems.
At a recent event, representatives of key stakeholders in the community of Qatari businessmen...Read more
Qatar Energy Renewable Solutions recently awarded a gigantic solar energy power plant contract to South Korea’s Samsung C&T.
The QAR 2.3 billion (USD 630 million) Engineering, Procurement and Construction...Read more
In keeping with the United Nations Sustainable Development Goals 2030, Qatar has revealed its ambition to build a sustainable food supply chain. This project is also inspired by the government’s goal...Read more
Qatar Chamber(QC) has successfully launched its revised labour re-employment platform targeting the private sector.
The digital platform is administered in collaboration and cooperation with the [Ministry...Read more
Qatar Financial Centre (QFC) data indicates the non-energy private sectors rapid growth according to the latest Purchasing Managers’ Index (PMI) survey.
The rates of expansion in total activity, new...Read more
The State of Qatar`s small and medium enterprises (SMEs) represent 97% of registered private sector companies and contribute 16% to non-oil gross domestic product (GDP).
“The Report: Qatar 2022”...Read more
Qatar`s real economic growth rate has grown by 2.5% based on constant prices according to figures released by the Planning & Statistics Authority (PSA).
The real economic growth rate is based on preliminary...Read more