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Greater investment in Qatar from Oman

Image of Qatar's central bank in Doha, Qatar [TravelingOtter/Wikipedia]
Image of Qatar's central bank in Doha, Qatar [TravelingOtter/Wikipedia]

Omani investors have intensified their activity in the Qatari market in recent weeks in search of new opportunities and agreements.

Vice Chairman of Qatar’s Chamber of Commerce and Industry, Mohammed Bin Twar, said in a statement quoted by Qatar News Agency (QNA) that the Chamber receives businessmen and companies on a daily basis from the Sultanate of Oman.

Yesterday, Qatari businessmen and their counterparts from the Sultanate of Oman discussed the investment opportunities available in the local market and the strengthening of trade relations between the two sides.

Read: Oman, Qatar discuss efforts to solve Gulf crisis

Bin Twar stressed that the chamber looks forward to further investment and business cooperation with the Omani side. “The agreement signed in Muscat last month between Qatar and Oman is paving the way for further partnerships,” he said.

Last month, Qatar’s chamber announced several agreements and deals with Omani companies in order to supply goods and products to Doha, especially in the field of foodstuffs and luxury goods.

The visit comes after a boycott and blockade by Saudi Arabia, the United Arab Emirates and Bahrain against Qatar which began on 5 June. The Gulf states and Egypt accused Doha of “supporting terrorism”, which Doha denies.

The three countries implemented a land, sea and air blockade that negatively affected Doha’s trade movement during the first days of the blockade, before the latter replaced its conventional trade routes with alternative shipping lines.

#QatarGate

Bin Twar pointed out that his country is ready to provide all information and data to Omani investors in preparation for entering the Qatari market.

The volume of trade exchange between Oman and Qatar rose from 2.8 billion Qatari riyals ($759.8 million) in 2014 to three billion riyals ($814 million) last year.

“As a result of our visit to Muscat last month, major Omani companies are coming to Doha to invest,” he added.

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