ICCIMA calls for the establishment of a joint investment committee between Iran and Qatar

TEHRAN – The head of the Iranian Chamber of Commerce, Industry, Mines and Agriculture (ICCIMA) proposed the establishment of a joint investment committee between Iran and Qatar, the ICCIMA portal reported.

Hossein Selahwarzi made the offer in a meeting with Qatar Chamber of Commerce and Industry head Khalifa bin Jassim Al Thani in the Qatari capital Doha on Sunday.

Selahwarzi, who visited Doha at the 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 leaders of Egypt and Guinea on the sidelines of the event .

During their meeting with Khalifa bin Jassim Al Thani, the two sides emphasized the need to develop and balance 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 is about 200 million dollars, which is not at all satisfactory compared to the capabilities of both countries’.

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

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

The mentioned document envisages cooperation in the field of energy (water and waste water, electricity, oil, gas and environment), exchange of experience and technical knowledge, holding of events, including exhibitions, specialized training courses in the field of water and water technologies, emphasis on renewable energies.

The exchange of delegations from the private sector working in the field of consulting, contracting and industries, manufacturing equipment related to electricity, as well as the readiness of the environmental organizations of the two countries to expand relations are also included in the document.

The document also covers cooperation in other areas, 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 transport, communications and information technology, agriculture, justice, law, labor and borders are also among the axes of this cooperation document.

Speaking at the closing ceremony of the Joint Economic Committee meeting, Qatar’s Minister of Trade and Industry said that his country’s economic relations with Iran have seen a big jump in recent years and the country welcomes similar developments in relations with the Islamic Republic.

He called the ninth meeting an important opportunity to follow up on the already reached agreements between the two countries to expand their relations in the commercial, economic and industrial spheres.

The Qatari minister also said that the sustained ties and mutual trust between Tehran and Doha show that they have deepened relations.

Meanwhile, he called for cooperation to overcome the challenges facing the two countries.

Mehrabyan, for his part, called for the strengthening of bilateral relations in the energy sector, the development of renewable energy projects, as well as for connecting the energy networks of the two countries.

He said the two countries reached good agreements during the last meeting of their joint economic commission, which he hoped would have a positive impact on bilateral economic cooperation.

Mehrabian said the agreements reached cover cultural and social areas as well as infrastructure.

The ninth meeting of the Iran-Qatar Joint Economic Committee was held on December 9-11 at the building of Iran’s Ministry of Energy in Tehran.

Speaking at the opening ceremony of the meeting, the head of Iran’s Energy Ministry’s International Relations Department said Tehran and Doha are determined to increase the two countries’ annual trade to $1.0 billion.

Moytaba Akbari said that neighborhood diplomacy is one of the important principles of President Ibrahim Raisi’s administration.

According to Akbari, currently the volume of exports of goods and equipment from Iran to Qatar is about $200 million, which may increase to $1.0 billion.

He pointed to the history of holding the joint economic commission meeting and added that the eighth edition was held in Qatar’s capital Doha in 2022 and had positive results.

With the progress of neighborhood-based diplomacy through cultural, social and economic proximity to Qatar, many obstacles in the way of ties between the two countries can be removed, he added.

Many Iranian businessmen, industrialists and scientists have made significant achievements that can be shared with Qatar, Akbari stressed.

Facilitating and improving trade ties, joint production of goods, equipment and services and special attention to the transfer of technical know-how are among the areas of cooperation between the two countries, the official noted.

Also speaking at the opening ceremony of the commission meeting, Saleh Abdullah Al-Manna, Director General of the Department of International Cooperation and Trade Agreements at the Ministry of Commerce and Industry of Qatar, said that the trade exchange between Iran and Qatar has increased by 43 percent in recent years.

“Currently, 845 Iranian companies are active in Qatar, indicating that between 2017 and 2022, the presence and activities of Iranian companies in Qatar have increased significantly,” the official said.

Al-Manna expressed hope that in the ninth joint economic committee of the two countries, positive steps will be taken and good agreements will be reached.


Photo: ICCIMA head Hossein Selahwarzi (left) meets and holds talks with Qatar Chamber of Commerce and Industry head Khalifa bin Jassim Al Thani (2nd right) in Doha on Sunday.

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