New Delhi: India and Qatar have agreed to expeditiously address all impending bilateral trade issues and have identified several areas of focus for enhancing both bilateral trade as well as mutually beneficial cooperation sectors.
Representatives from both nations reviewed recent developments in a Joint Working Group meeting in Doha this week, the Commerce Ministry said Friday.
Both sides undertook a detailed review of recent developments in bilateral trade and economic cooperation and noted that the relationship has a huge potential to be scaled up even further, the Commerce Ministry stated.
Both sides identified several areas of focus for enhancing both bilateral trade as well as mutually beneficial cooperation sectors.
These include gems and jewellery, cooperation between customs authorities, trade in local currency, pharmaceuticals, food processing and food security, cooperation in Micro, Small and Medium Enterprises (MSMEs), etc.
An Indian delegation of officers from the Department of Commerce and other ministries and organisations held a Joint Working Group (JWG) meeting with the Qatari side in Doha July 10.
The representatives from the two nations also discussed the possible mechanism to activate the Joint Business Council to carry out its assigned role in following up and implementing the private sector’s visions and proposals for trade and investment cooperation.
“Both sides also reviewed the progress of ongoing discussions for Memorandum of Understanding (MoUs) on food safety and cooperation in exchange of pre-arrival information for facilitation of trade and customs control on goods and agreed to conclude them expeditiously.
“Both sides agreed to expeditiously address all issues impeding bilateral trade and facilitate trade promotion between the two countries,” the Commerce and Industry Ministry stated.
The JWG meeting was co-chaired by the Economic Advisor, Department of Commerce, Ministry of Commerce and Industry, Priya P Nair and Director of International Cooperation and Trade Agreements at the Ministry of Commerce and Industry, Government of the State of Qatar, Saleh Al-Mana.
Bilateral trade between India and Qatar stood at $14.08 billion in 2023-24. India is the second largest trading partner to Qatar.
“Both sides agreed to hold the next meeting of the JWG in 2025, in New Delhi. The deliberations of the first session of India-Qatar JWG were cordial and forward-looking, reflecting the friendly and special relations between the two countries,” the official statement said.
PTI