A senior official has highlighted the UAE market as a prime opportunity for Qatari companies looking to expand. "We are eager to strengthen our enduring economic ties with the UAE. Our support for prominent Qatari companies to enter new markets not only boosts joint cooperation opportunities but also aids in the development of the local business environment, benefiting both the Qatari and UAE economies," stated Khalid Abdullah Al-Mana, vice president of enterprise development at Qatar Development Bank (QDB).
Economic relations between Qatar and the UAE have been on a steady rise, with trade volumes increasing by 19% annually from 2021 to 2023. This growth underscores the significance of initiatives that promote trade and economic prosperity across Gulf region countries. QDB is organizing a Qatari trade mission to the UAE, featuring over 25 Qatari companies from diverse sectors.
The mission, supported by 'Tasdeer', QDB's export promotion arm, aims to uncover unique opportunities in the UAE market and forge new partnerships between Qatari and UAE companies. Sectors experiencing heightened demand, such as construction, plastics and paper industries, iron and steel, and food and beverage, along with innovative solutions in artificial intelligence and sports technology, are included in the mission. The B2B trade mission event will be held on November 19 and 20 in Dubai, featuring site visits and dedicated B2B meetings to connect Qatari and UAE companies. The event also serves as a strategic platform for discussing market trends and identifying joint business opportunities.
These business matchmaking meetings are anticipated to result in long-term partnerships. As a major supporter of Qatar's private sector, QDB is continuously working to enhance and support small and medium enterprises and entrepreneurs by providing financial and non-financial services to develop targeted sectors and improve skills, with a focus on expanding into both local and global markets.
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