Doha Bank forum highlights bilateral trade opportunities for Qatar, S Africa

      Published on Wednesday, 21 November , 2018      29 Views      Comments Add Comment
Doha Bank forum highlights bilateral trade opportunities for Qatar, S Africa

  • Events

South Africa is looking to double its bilateral trade with Qatar in the next few years, according to Doha Bank Group CEO Dr R Seetharaman, who spoke during a knowledge-sharing forum hosted by the bank in Doha recently.

Qatar-South Africa total trade stood at close to $0.5bn, Seetharaman said, adding that major exports to Qatar include base metals, machinery and mechanical appliances, and chemical and vegetable products.



On the other hand, South Africa imports Qatari mineral products, chemicals, and plastics.

Seetharaman noted that construction and supplies, security and logistics, and the food service sectors could be opportunities in Qatar.

“South Africa can support Qatar’s efforts to ensure self-sufficiency and to expand Qatar’s industrial and manufacturing base. South African prowess in the agricultural sector is well known and could be utilised for benefit of Qatar. 

“South Africa’s tourism sector registered a dramatic rise as many Qataris spent their holidays there.

The total number of South African expats in Qatar crossed the 6,000 mark,” said Seetharaman, who delivered a speech in the presence of South African ambassador Faizal Mousa and other guests from major South African institutions.

On the South African economy, Seetharaman cited the IMF’s October 2018 outlook, saying the economy is expected to grow by 1.4% in 2019. He said South Africa’s monetary system is well-regulated, and that the country has become “one of the most popular trade and investment destinations in the world.”

Speaking on the Qatari economy, Seetharaman said Qatar expected to grow by 2.7% in 2018 and 2.8% in 2019.  



“Qatar is planning to increase its LNG production capacity from 77mn tonnes per annum (MTPA) to 110MTPA. Qatar’s reserves are more than twice of its GDP and in terms of financial stability Qatar is strong, stable, and functional. In response to the economic blockade, Qatar has emerged strong and has brought various reforms to transform itself into a self-reliant economy,” Seetharaman stressed.

Keywords:
Category Events | 2018/11/21 latest update at 5:30 PM
Source : Gulf Times | Photocredit : Google
30 Views
Comments Add comment



Related Articles

The editorial staff of Qatar Today would like to give all of its readers from Gulf and Qatar and the whole world the opportunity to participate actively in the development of the website! If you have something interesting, fun, scandalous - just something worth to be seen from more people. Capture it and share it in the Qatar Today with a short text.

Do you have information you want to reach our readers?

Send article/s

You can subscribe to our Facebook, Twitter and Google pages or use our RSS feed channel to always read the most important news about Qatar, the Gulf and the world.

Latest Comments


Qatar’s emir receives invite from Saudi king to attend Gulf Arab summit Emir

Qatar’s emir receives invite from Saudi king to attend Gulf Arab summit

Qatar’s emir, Sheikh Tamim bin Hamad Al Thani, has received a written invitation from Saudi Arabia’s King Salman…

Turkey’s Erdogan hails Qatar emir as ‘friend in times of trouble’ Emir

Turkey’s Erdogan hails Qatar emir as ‘friend in times of trouble’

Turkey’s president hailed close ally Qatar as a “friend in times of trouble” as he met with the…

Amir to take part in first Paris Peace Forum Emir

Amir to take part in first Paris Peace Forum

The Amir His Highness Sheikh Tamim bin Hamad al Thani will take part in the first Paris Peace…

Amir meets External Affairs Minister of India Emir

Amir meets External Affairs Minister of India

The Amir H H Sheikh Tamim bin Hamad Al-Thani met External Affairs Minister of India Sushma Swaraj and…

GULF TV

Popular in GULF TV

About DFI

882 Views

Doha Film Institute is dedicated to film appreciation, education, and building a dynamic film industry in Qatar that…

Latest videos in GULF TV

100 Views

PEARL QATAR

Events

Qatar Events

Lifestyle

Life

Culture

Culture News

Sport

Sport

Science & Technology

Science & Technology

Government

Government News