QBA ready to support Cypriot companies

February 02, 2014 - 1:54:25 am

Sheikh Faisal bin Qassim Al Thani, the Chairman of Qatari Businessmen’s Association (QBA), presenting a memento to Nicos Anastasiades, the President of the Republic of Cyprus, at QBA office recently.  H E Dr Mohammed bin Saleh Al Sada, the Minister of Energy and Industry; Hussein Al Fardan, First Deputy Chairman of QBA, and Sheikh Dr Khalid bin Thani Al Thani, Second Deputy Chairman of QBA, are also seen.

DOHA: The Qatari Busin-essmen’s Association (QBA) assured to the President of the Republic of Cyprus, Nicos Anastasiades, that QBA is ready to support Cypriot companies and businessmen in exploring business and investment opportunities in the Qatari market. 

The elite association of local business leaders held a meeting in honour of Anastasiades and his accompanying official and business delegation during their recently concluded visit to Qatar. 

The high level delegation included ministers and more than 60 businessmen and representatives from major national and private Cypriot companies. 

H E Dr Mohamed bin Saleh Al Sada, the Minister of Energy and Industry, was also present in the meeting held on January 27 at QBA office. It was attended by Sheikh Faisal bin Qassim Al Thani, Chairman of the QBA; Hussein Al Fardan, First Deputy Chairman; Sheikh Dr Khalid bin Thani Al Thani, Second Deputy Chairman, and many other distinguished members of QBA and guests.

Both sides discussed the possible ways of strengthening bilateral relations, especially in the fields business and trade. 

Sheikh Faisal declared that the association is ready to facilitate and support Cypriot companies and businessmen in entering the Qatari market, and that the Qatari businessmen were also interested in discovering business opportunities in the Cypriot market.

Anastasiades confirmed that his country is looking forward to cooperate with Qatar in building mutually beneficial partnerships.  The President highlighted a host of comparative advantages that his country enjoys as an attractive tourism and investment destination, including its strategic location being at the crossroads of three continents namely Europe, Asia and Africa.  

The President mentioned some of the investment incentives that Cyprus offers such as a well-developed infrastructure that attracts businesses, in addition to 50 agreements signed with different countries to prevent double taxation, including an agreement with Qatar, and a strong tax and legal system, where Cyprus is considered to have one of the lowest tax rates in Europe.

Dr Al Sada noted that there are host of similarities between Qatar and Cyprus, which would constitute a strong basis for cooperation, especially after the signing of several cooperation agreements, including those inked in the field of energy, education, water desalination and waste-water treatment.

He also stressed that there is a strong public-private partnership at the local level, and the private sector is ready to work with the government on its projects abroad as well.

Anastasiades invited Qatari businessmen to visit Cyprus to identify investment opportunities. The President also visited Sheikh Faisal’s private carpet museum, which includes a wide range of unique old carpets, ceramics and precious furniture from various countries. It also contains a unique collection of porcelain from the Abbasid period.

The Peninsula

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