Qatar, South Africa bilateral trade up 37% to QR1.2bn in 2021: QC

Doha: Relations between Qatar and South Africa gained significant momentum in recent years, with a 37 percent rise in bilateral trade to QR1.2bn in 2021 from QR786m in 2020, said Qatar Chamber’s First Vice-Chairman Mohamed bin Towar Al Kuwari. 

He was speaking at the Qatar-South Africa business forum which was held yesterday via video conferencing. 

The webinar was also attended by the Director of Asia and Middle East Region, Department of Trade, Industry and Competition (DTIC) Thulani Mpetsheni and President of the South African Chamber of Commerce and Industry Mtho Xulu alongside a number of representatives of companies from both countries.

According to Al Kuwari, South Africa is an important trade partner to Qatar. He also stressed the strong relations between both countries, which are also evident through the mutual visits between leaders, government officials and private sector representatives and the agreements signed between both parties in many fields.

He added: “There is a certain desire from both sides towards levelling up their cooperation relations in all areas. Qatar achieved tangible success in investing in the African continent and there is a remarkable interest in investment in Africa through signing agreements with friendly countries and private sector companies”. 

As for the Qatari investments in South Africa, he noted that Qatar established a number of investments there in various sectors such as oil, mining, and petrochemicals, indicating that QatarEnergy signed deals with TotalEnergies on entering three more offshore exploration blocks in South Africa.

“South Africa is one of the most important destinations for Qatari investments, as it is rife with plenty of promising opportunities that attract Qatari investors,” he added.

Al Kuwari also reiterated the Chamber’s keenness to encourage Qatari businessmen to get acquainted with the investment opportunities in South Africa, in the same way that Qatar also welcomes South African investments in the Qatari market and its support for companies from both countries to establish commercial alliances and genuine partnerships that benefit both economies. Also speaking during the event, Mpetsheni said the growing relations between the two countries are boosted through mutual investments and signed agreements in various fields, stressing that Qatar is a strategic trade partner to South Africa and there is a keen interest to develop its exports to Qatar and increase their bilateral trade exchange.

Xulu went on to thank QC for holding the forum, emphasising the South African Chamber’s keenness to develop cooperation relations between companies from both sides.

He also pointed to the possibility of organising a business visit for South African businessmen to Qatar this year to meet their Qatari counterparts and discuss various areas of cooperation.

He added that there are many sectors in South Africa that attract Qatari investors such as mining, manufacturing, technology, agriculture, and food security sectors. He also invited Qatari companies to invest in his country and cooperate with their South African counterparts. During the meeting, the South African side delivered a presentation about South African food and fruit exports.