Libya News

The Minister of Economy and Planning, Faisal bin Fadhil Alibrahim, met today with the Swiss Secretary of State for Economic Affairs, Helene Budliger Artieda, at the ministry in Riyadh.

The two officials discussed economic ties, trade and investment opportunities, as well as the latest developments in areas of mutual interest.

Source: Saudi Press Agency

Indonesian president Joko Widodo and his South Korean counterpart Yoon Suk Yeol on Friday discussed ways to strengthen the two countries relations.

During a meeting in Jakarta, the two presidents agreed to strengthen their countries’ security and economic partnership, including by boosting cooperation in arms and electric vehicle (EV) infrastructure.

They further greed to further strengthen arms cooperation and reaffirmed their commitment to successfully completing a joint project to develop KF-21 fighter jets.

Indonesia-South Korea bilateral trade amounted to USD26 billion last year.

Source: Qatar News Agency

Saudi Arabia and the United States signed a Memorandum of Understanding (MoU) on the provision of a framework for developing a protocol for establishing intercontinental green transit corridors through Saudi Arabia; connecting Asia with Europe.

The Saudi Press Agency (SPA) stated today that the project aims to facilitate the transit of renewable electricity and clean hydrogen via transmission cables and pipelines in addition to the construction of rail linkages.

The MoU also aims to enhance energy security, support clean energy development efforts, promote a digital economy through digital connectivity and transmission of data via fiber cables, as well as to promote commerce and the transport of goods by rail and through sea ports.

Source: Qatar News Agency

The Qatar Financial Centre Authority (QFCA) – the legal and tax arm of the Qatar Financial Centre (QFC), Qatar Stock Exchange and Malaysian Rating Corporation Berhad (MARC) – renowned for its expertise in providing public and private ratings on companies and their debt instruments – have entered into a Memorandum of Collaboration (MoC).

The agreement outlines a framework of cooperation to pursue a range of strategic initiatives aimed at advancing the financial landscape, both within the local and international arenas, with a specific emphasis on bonds and Sukuk. The scope of the collaboration encompasses organising joint events that foster knowledge exchange, developing sound market infrastructures and building the necessary capacity to support Qatar’s bonds and Sukuk market. Furthermore, the partnership extends to exploring opportunities to establish best standards and practices in the domains of sustainability and debt capital markets and pursuing cooperation in other areas within their fields of expertise and mutual interest.

Commenting on the MoC, Chief Executive Officer of QFC Yousuf Mohamed Al Jaida said, “This partnership underscores our shared mission with the QFC and MARC to strengthen financial infrastructures, stimulate market growth, and explore new avenues for mutual development. It also demonstrates the QFC’s unwavering commitment to bolstering Qatar’s financial ecosystem. Through this collaboration, we are poised to amplify our impact on setting high standards and catalysing growth in the financial market.” Acting CEO of Qatar Stock Exchange Abdulaziz Nasser Al Emadi welcomed the signing of the Memorandum Of Cooperation (MoC) with the Malaysian Rating Corporation (MARC) and the Qatar Financial Center (QFC) and described it as a significant step towards exploring the best ways for close cooperation among the three parties to develop the fundamental structure of Qatar’s financial market, adopting best practices related to corporate performance, as well as strengthening public debt markets at the local and international l
evels.

“The Signing of this tripartite MoC will strengthen the existing excellent relationships between the Qatar Stock Exchange and other Qatari financial institutions with the Malaysian Rating Corporation and other financial institutions in Malaysia’s financial markets. These relationships are anticipated to serve shared interests and facilitate collaboration between the two parties,” Al Emadi stated.

Group Chief Executive Officer at MARC Datuk Jamaludin Nasir also commented on the MoC, stating, “This strategic collaboration with the Qatar Financial Centre and Qatar Stock Exchange marks another milestone for MARCs exciting transformational and growth journey. Together with QFC and QSE, we look forward to driving excellence in the bond and sukuk markets, promoting sustainability, and advancing the financial ecosystem in Qatar and beyond. This collaboration reflects our dedication to utilising MARC’s capability and experience in contributing to the growth and development of the financial markets in Qatar and the region.

This agreement between the QFCA, QSE and MARC to jointly carry out initiatives to advance the financial market will be governed by the principles of reciprocity and executed within the boundaries of the parties’ respective legal and regulatory frameworks.

Source: Qatar News Agency

Qatar Chamber have discussed ways to enhance trade cooperation and investment opportunities with Argentina.

This came during a meeting between Qatar Chamber’s Second Vice Chairman, Rashid bin Hamad Al Athba, with HE Undersecretary for Multilateral and Bilateral Economic Negotiation at the Ministry of Foreign Affairs and International Trade in the Republic of Argentina Ramiro Ordoqui, currently visiting Doha.

During the meeting, both officials reviewed economic and commercial cooperation between the two nations and explored cooperation opportunities between Qatari and Argentine companies in various sectors.

QC Second Vice-Chairman Rashid bin Hamad Al Athba, praised the strong relations between Qatar and Argentina, both at economic and political levels. He noted that the trade between both countries falls below expectations and expressed hope for significant growth in the coming years.

Al Athba emphasized that Qatar warmly welcomes investments from around the world, highlighting its world-class infrastructure and favorable laws that attract foreign investments. He expressed a strong interest in seeing more Argentinean companies in Qatar.

He also affirmed the Chamber’s readiness to facilitate trade delegations between both countries, provide information about the investment climate in Qatar and potential sectors for cooperation, and assist investors in finding local partners.

In turn, HE Ramiro Ordoqui praised the relations between Qatar and Argentina, highlighting positive signs of trade development between the two countries. He emphasized that Argentina exports various goods, including agricultural products and foodstuffs, with agricultural exports accounting for 40% of the total Argentinean exports.

Ordoqui referred to the close cooperation between the chambers of commerce on both sides, emphasizing that this cooperation will facilitate collaboration between private sector companies in both countries, enabling the establishment of new joint ventures and partnerships.

Source: Qatar News Agency

HE Undersecretary of Ministry of Commerce and Industry (MOCI) Sultan bin Rashid Al Khater praised the strong historic relations that bond the State of Qatar and People’s Republic of China, pointing that China is biggest exporter to the Qatari market and the biggest importer of Qatari products.

This came during His Excellency’s heading of the Qatari delegation participating in the China International Fair for Investment & Trade (CIFIT 2023), which started Friday and will continue through Sep. 11.

His Excellency also participated in the opening session of the exhibition, and a panel discussion on high-quality development of cross-border investment.

HE Undersecretary of MOCI said that the State of Qatar’s participation in this year’s edition of the exhibition stems from its belief in the importance of partnerships as a main guarantee for strengthening bilateral relations between countries.

The State of Qatar is participating as a “Guest Country of Honor” in the 23rd edition of the China International Fair for Investment & Trade (CIFIT 2023), held under the theme of “Open and Integrated: Key to HighQuality Development.” The Qatar pavilion features several entities including the Ministry of Commerce and Industry, the Investment Promotion Agency of Qatar (IPA Qatar), Qatar Free Zones Authority (QFZ), Qatar Financial Centre (QFC) and Qatari Diar.

CIFIT is held annually every September in the city of Xiamen and is considered one of the largest events to attract foreign investment.

This year’s edition features several panels, presentations, and interactive meetings to highlight major issues such as attracting foreign investment, strategies to enter international markets, bilateral commercial and economic exchanges, sustainable development, smart manufacturing, the digital economy, and the Belt and Road Initiative.

Source: Qatar News Agency