COMM BK QA GDR'S' : Proposal to set up Qatar-S Korean business panel

A proposal to set up Qatar-South Korean Joint Business Council was mooted at a forum hosted by the South Korean embassy in Doha yesterday.

The event was arranged to find ways to boost co-operation between the two countries in business and trade. 

At the forum opening Korean Minister Lyeo talked about Qatar's role in the world economy, the attractiveness of doing business in the country and the need for improved business collaboration between Qatari and Korean businesses.

He said the Qatari economy was growing at a very fast pace and the opportunities for growth in the business sector, particularly the small and medium enterprise sector were potentially unlimited.
"Qatar's business friendly trade set-up, politically stable government with long-term vision and proximity to other countries in the Middle East are all expected to convert Qatar into a hub for business development in the region," Lyeo said.

The minister pointed out that doing business with South Korea is quite attractive considering that it is one of the best economic performers among OECD countries. It has a vast economic territory (61% of the world GDP) through several FTAs, like with EU and the US.
Further, South Korea is currently negotiating an FTA with the GCC. Minister Lyeo said a Qatar-Korea Joint Business Council would go a long way in boosting bilateral trade, particularly at a non-governmental level.

The forum also featured addresses from Sultan Rashid al-Khatir, undersecretary at the Ministry of Business & Trade, Mohamed al-Kuwari, Qatar Chamber of Commerce & Industry vice-chairman and Kwon Oh-shik.

This was followed by the first session, which included presentations on the business environment and opportunities in Qatar by the Qatar Chamber of Commerce & Industry, Qatar 2022 Supreme Committee, Commercialbank of Qatar and GOIC.

The second session focused on the enterprise cooperation and investment opportunities between Qatar and South Korea and had presentations on the Qatari market for South Korean products by Jumbo Electronics, Al-Attiyah Motors and SK Engineering & Construction.

All the presentations focused on the growth of Qatar as an attractive business environment and the viability of doing business in the country.

Prominent guests at the forum included Qatari business leaders and key management executives of several important business and trade organisations and companies.

In addition, the forum was also attended by representatives from various South Korean and Qatari companies. A statement issued by the South Korean embassy said it hopes the forum will serve as a platform to connect Qatari & South Korean businesses to encourage cooperation and for further improvement in bilateral trade and business relations between the two countries.