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Qatar’s Trade Surplus Reaches QAR 17.7B in September 2024

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Photo by BSUQ   Qatar continues to showcase its strong trade position with a foreign merchandise trade surplus of QAR 17.7 billion in September 2024, according to preliminary data from the National Planning Council. While the surplus reflects the nation’s robust economic activity, changes in export and import trends reveal key insights into the market. Export Highlights Total Exports: Qatar’s total exports, including domestic goods and re-exports, stood at QAR 27.6 billion. This represents: A 7.9% decrease compared to August 2024. A 7% drop year-on-year from September 2023. Petroleum Products: Exports of petroleum gases and gaseous hydrocarbons (including LNG, condensates, propane, and butane) amounted to QAR 16.7 billion, with a slight 0.1% decline . Crude petroleum oil exports fell by 31.3% , reaching QAR 3.7 billion. Non-crude petroleum oils dropped by 21.5% , totaling QAR 2.5 billion. Import Highlights Total Imports: Qatar’s imports reached approximately QAR 9.9 billion, re...

Qatar's Government Unveils Procurement Plan Forum 2025: Boosting Private Sector Growth and Economic Diversification

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Qatar's Government Unveils Procurement Plan Forum 2025: Boosting Private Sector Growth and Economic Diversification Qatar’s Ministry of Finance, in collaboration with the Ministry of Commerce and Industry, Qatar Development Bank, and Qatar Chamber, recently hosted the second edition of the Government Procurement Plan Forum. The event highlighted Qatar’s commitment to driving economic diversification by strengthening the private sector as a key engine of growth and innovation. Key Highlights of the 2025 Procurement Strategy The forum showcased Qatar’s comprehensive procurement strategy for 2025, emphasizing transparency, collaboration, and creating more business opportunities for local companies. As part of the strategy, the government plans to release 3,303 tenders across 21 sectors— a significant increase from 2024, demonstrating Qatar’s dedication to diversifying its economy. Strategic Focus Areas for 2025 The majority of the tenders, approximately 71%, will be focused on five ke...

Qatar’s MoCI and Invest Qatar Drive Private Sector Growth

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photo by Business Start Up Qatar The Ministry of Commerce and Industry (MoCI) and Invest Qatar recently hosted the second annual Government Sector Forum, uniting over 50 representatives from 26 government agencies. This event aimed to evaluate achievements, address challenges, and outline strategies for empowering the private sector, aligning with Qatar National Vision 2030. Key discussions included the Third National Development Strategy 2024-2030, which focuses on improving the business environment, driving economic diversification, and fostering private sector leadership. MoCI emphasized the importance of innovation, streamlined services, and strategic partnerships to position the private sector as a central contributor to Qatar's economic growth. Invest Qatar highlighted recent regulatory improvements and presented insights into the nation’s investment climate, showcasing its commitment to creating a business-friendly ecosystem. With initiatives like the Roundtable Project and...

Qatar Free Zones launches new Visa Service Office!

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Qatar Free Zones Authority Launches New Visa Service Office: Enhancing Business Opportunities Qatar Free Zones Authority (QFZ) and the General Directorate of Passports at the Ministry of Interior (MOI) have inaugurated the Ras Bufontas Free Zone Visa Service Office. This new initiative aims to streamline processes for the expanding business community within Qatar’s free zones, making it easier for investors to manage their operations efficiently. The newly launched office offers a wide range of services, including residence permit renewals, issuance and extensions, work and family visit visas, multi-entry visas, and employer change processes. In addition, investors can handle company registration renewals using their residence or visa numbers. There’s also a dedicated traffic services section to facilitate driving license renewals and transfers, adding convenience for businesses operating within Qatar's free zones. This development is a critical part of Qatar’s ongoing strategy to ...

Qatar’s Agricultural Growth Boosts Food Security and Advances Sustainability

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Qatar's agricultural sector is undergoing a remarkable transformation, with projections indicating significant growth in the coming years. According to research by Mordor Intelligence, the sector is expected to reach approximately QAR 812 million (USD 223.1 million) by 2029. This expansion, driven by a compound annual growth rate (CAGR) of 5.5% from an estimated QAR 623 million (USD 171 million) in 2024, is essential for enhancing the nation’s food security and achieving self-sufficiency. The upcoming National Food Security Strategy 2024-2030 is set to build on the successes of previous initiatives, which focused on four key pillars: diversifying trade routes, minimizing food losses, enhancing reserve capacities, and optimizing local cultivation of crops, livestock, and fish. This new strategy aims to promote sustainability through modern technologies and innovations, aligning with Qatar National Vision 2030. One of the most exciting developments in Qatar's agriculture is the s...

Qatar Strengthens Northern European Ties with Strategic Tour

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Qatar recently concluded a diplomatic tour of Northern Europe, visiting Sweden, Norway, and Finland to bolster relations and explore areas of mutual interest. This strategic initiative has resulted in several key agreements that promise to deepen cooperation in various sectors. Sweden: Paving the Way for Enhanced Cooperation The first stop was in Sweden, where officials signed multiple Memorandas of Understanding (MoUs) and a letter of intent for military cooperation. The MoUs covered political consultations, peace and reconciliation, humanitarian and development cooperation, land transport and logistics services, and social development and family support. Additionally, Qatar Chamber and the Swedish Trade and Invest Council signed an MoU aimed at enhancing bilateral investment cooperation. Norway: Strengthening a Longstanding Relationship In Norway, the tour emphasized the strong and longstanding relationship between the two nations. Qatar and Norway signed MoUs in military cooperation...

Qatar and Uzbekistan Boost Economic Ties with Focus on ICT

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Qatar and Uzbekistan have been strengthening their economic relationship through high-level meetings this year, focusing on digital technologies and trade. Qatar is set to participate in Global ICT Week 2024 in Tashkent, showcasing its commitment to advancing digital collaboration. Key Qatari stakeholders, including Qatar Investment Authority and Qatar Development Authority, will be present. Earlier in the year, Uzbekistan’s Ministry of Digital Technologies attended the Web Summit 2024 in Doha. Plans are also underway for a Qatari business delegation to visit Uzbekistan in October, highlighting the growing interest in mutual investment opportunities. Both countries are exploring key sectors and leveraging existing agreements to boost trade. The Qatar Chamber is actively supporting partnerships and joint ventures, emphasizing the importance of investment incentives and protective legislation. Upcoming meetings in September and October will provide further insights into the investment cl...