Qatar-Korea trade hits $ 5 billion in first half of 2021, Qatar Chamber official says

Trade between Qatar and South Korea amounted to $ 5 billion in the first half of 2021, Qatari First Deputy Speaker Mohamed bin Towar al-Kuwari told the Qatar Business Forum -Korea held on Sunday.

The forum was held in the presence of the Executive Vice President of the Korean Chamber of Commerce and Industry, Woo Tae-hee, and a number of members of the Board of Directors of the Qatar Chamber and d eminent businessmen from both countries.
Al-Kuwari said that trade in the first half of 2021 reflected growth of 29% from $ 3.9 billion in 2020. Total bilateral trade volume last year stood at nearly $ 7 billion. dollars, said al-Kuwari, who underscored Qatari businessmen’s eagerness to forge more business alliances with their Korean counterparts.
He noted that the forum offers “a valuable opportunity” for the two sides to expand the private sector trade relations of the two countries and forge economically beneficial active partnerships.
Al-Kuwari said that many South Korean companies operate in Qatar and are “known for their high quality and efficiency.” He said South Korea is a “separate destination” for Qatari investments, which are active in various sectors and in line with Qatar’s strategy of economic diversification and attracting foreign direct investment.
He encouraged Qatari businessmen and investors to cooperate more with their South Korean counterparts and explore the investment opportunities available in South Korea and benefit from their internationally renowned expertise and advanced technology.
Al-Kuwari said the chamber welcomes more South Korean companies to the Qatari market, which boasts world-class infrastructure and investment-friendly legislation, and is full of economic, logistics and franks offering investment opportunities.
Woo praised the strong relationship between Qatar and Korea, saying that despite the Covid-19 pandemic, economic cooperation “remains strong” and that many South Korean companies have continued to supply health-related products to Qatar. .
He also noted that a pioneering South Korean shipbuilding company oversaw a 135 vessel construction contract for former Qatar Petroleum (now QatarEnergy) in June 2020, citing the contribution of South Korean companies to many projects in Qatar, including the development of gas fields, construction of the Qatar National Museum, power plants and roads.


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