ICCIMA calls for establishing Iran-Qatar joint investment committee

The head of the Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) has proposed the establishment of a joint investment committee between Iran and Qatar, the ICCIMA portal reported.
Hossein Selahvarzi made the proposal in a meeting with Head of Qatar Chamber of Commerce and Industry Khalifa bin Jassim Al Thani in Qatar’s Capital Doha on Sunday.

Selahvarzi, who visited Doha on top of a delegation to attend the 39th meeting of the Islamic Chamber of Commerce, Industry and Agriculture (ICCIA) general assembly, also met and held talks with the heads of Egypt and Guinea on the sidelines of the event.

During his meeting with Khalifa bin Jassim Al Thani, the two sides emphasized the necessity of developing and balancing the trade between the two countries, while discussing joint investment.
In this regard, the head of the Qatar Chamber of Commerce and Industry, referring to the volume of bilateral trade relations, said: “Currently, the value of trade between Iran and Qatar stands at about 200 million dollars, which is not at all satisfactory compared to the capacities of the two countries.”

Iran and Qatar signed a comprehensive cooperation document at the end of the ninth Iran-Qatar Joint Economic Committee meeting in Tehran on December 11.
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, specialized training courses in the fields of water and water technologies, renewable energies have been 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 covers 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.
Speaking at the closing ceremony of the Joint Economic Committee meeting, Qatar’s Minister of Commerce and Industry said that his country’s economic relations with Iran have had a great jump in recent years and the country welcomes such developments in relations with the Islamic Republic.

He called the ninth meeting an important opportunity for following up on agreements already reached between the two sides to expand their relations in trade, economic, and industrial fields.
The Qatari minister also said that the sustainable ties and mutual trust between Tehran and Doha show that they have deepened relations.
He meanwhile called for cooperation to overcome the challenges the two sides face.

Mehrabian for his part called for boosting bilateral relations in the energy sector, the development of renewable energy projects as well as the connection of the two countries’ power grids.
He said that the two countries reached good agreements during the latest meeting of their joint economic committee, which he expressed hope that would positively impact the bilateral economic cooperation.
Mehrabian said that the agreements reached cover cultural and social fields as well as infrastructure.

The ninth meeting of the Iran-Qatar Joint Economic Committee was held on December 9-11 at the Iranian Energy Ministry building in Tehran.
Speaking at the inaugural ceremony of the meeting, the head of the International Affairs Department of the Iranian Energy Ministry, said Tehran and Doha are determined to increase the two countries’ annual trade to $1.0 billion.
Mojtaba Akbari said neighborhood-based diplomacy is one of the important principles of the administration of President Ebrahim Raisi.

According to Akbari, currently, the volume of Iran’s export of goods and equipment to Qatar is about $200 million, which is expandable to $1.0 billion.
He pointed to the history of holding the joint economic committee meeting and added that the eighth edition was held in the Qatari capital of Doha in 2022 and had positive results.
With the advancement of neighborhood-based diplomacy through cultural, social, and economic proximity with Qatar, many obstacles on the path of ties between the two countries can be removed, he added.
Many Iranian traders, industrialists, and scientists have attained considerable achievements that can be shared with Qatar, Akbari underscored.

Facilitating and improving trade ties, joint-venture production of goods, equipment, and services, and special attention to the transfer of technical know-how are among the fields of cooperation between the two countries, the official noted.
Also speaking at the opening ceremony of the committee meeting, Saleh Abdullah Al-Mana, director general of the Department of International Cooperation and Trade Agreements at Qatar Ministry of Commerce and Industry, said trade exchanges between Iran and Qatar have increased by 43 percent in recent years.

“Currently, 845 Iranian companies are active in Qatar, which indicates that between 2017 and 2022, the presence and activity of Iranian companies in Qatar has increased significantly,” the official said.
Al-Mana expressed hope that positive steps will be taken in the ninth joint economic committee of the two countries, and good agreements will be reached.