Iran, Qatar hope to raise mutual trade to US$1 billion

Iran and Qatar plan to increase the volume of mutual trade exchanges between the two countries to US$1 billion annually.

News ID: 5485

Date: 26 November 2024 - 10:42

TABNAK, Nov, 26 : The Head of Iran’s Trade Development Organization Mohammad-Ali Dehghan Dehnavi in a meeting with Qatari Deputy Undersecretary for Industrial Affairs and Business Development Saleh Majid Al-Khulaifi, referred to the prospect of US$1 billion between Tehran and Doha, as expressing hope that economic cooperation between Tehran and Doha will increase further more by holding joint economic commissions between the two countries.

Speaking in the webinar of the first joint meeting of Iran-Qatar trade cooperation, he also emphasized the need to facilitate Iran’s mutual trade with Qatar.

The TDO head further asserted that since fruit and food industries include the largest portion of Iran’s exports Qatar, increasing the volume of mutual trade between the two neighbors to the targeted figure just by exporting these products is not expected.

"Currently, basic metals and petrochemicals are indirectly sent from Iran to Qatar, so we expect that the possibility of direct export of these goods to Qatar will be provided," he said.

Saleh Majid Al-Khulaifi, for his part, said, "We will make efforts to accelerate the exit of Iranian goods from Qatar's ports and visas issuance for Iranian businessmen, and we hope that the prospect of US$1 billion trade between the two countries will come true in the near future."

Iran and Qatar signed a comprehensive cooperation document at the end of the 9th Iran-Qatar Joint Economic Committee meeting in Tehran on December 11, 2023.

The document was signed by Iran’s Energy Minister Ali-Akbar Mehrabian and Qatar’s Minister of Commerce and Industry Sheikh Mohammed bin Hamad bin Qassim Al Abdullah Al Thani as the heads of the Joint Economic Committee.

In the mentioned document, cooperation in the fields of energy (water and wastewater, electricity, oil, gas, and environment), exchanging experiences and technical knowledge, holding events, including exhibitions, and specialized training courses in the fields of water and water technologies, and renewable energies were emphasized.

Exchanging private sector delegations active in the fields of consulting, contracting, and industries, production of equipment related to the electricity industry, and the readiness of the environmental organizations of the two countries to expand relations have also been covered in the document.

The document also covered cooperation in other fields including banking, insurance, customs, national development funds, technical and engineering services, trade, industries and mines, free zones, investment, and standards.

Cooperation in the fields of transportation, communication and information technology, agriculture, judicial, legal, labor, and border are also among the axes of this cooperation document.