The participation of the State of Qatar in St. Petersburg International Economic Forum (SPIEF) 2021 as a guest country reflects the strength of Qatar-Russia relations.
A number of Qatari ministries and public sector organisations are participating in the forum to highlight Qatar’s robust economy and country’s leading position at regional and international levels.
Through this participation, Qatari officials are also highlighting country’s attractive investment environment and growing IT sector. No doubt, Qatar’s participation in SPIEF 2021 will also open new vistas of cooperation between two friendly states taking existing ties to new heights.
Yesterday, Amir H H Sheikh Tamim bin Hamad Al Thani participated in the main and discussion sessions via videoconferencing of the St. Petersburg International Economic Forum (SPIEF 2021) with the participation of President of the Russian Federation, H E Vladimir Putin; President of the Argentine Republic, H E Alberto Fernandez; President of the Federative Republic of Brazil, H E Jair Bolsonaro, and Chancellor of the Republic of Austria, H E Sebastian Kurz.
H H the Amir said that the State of Qatar is one of the largest foreign investors in Russia, with diversified investments amounting to more than $13bn, looking forward to doubling them in the future and stressing the State of Qatar’s confidence in the Russian economy.
Meanwhile on Thursday, during official reception of the State of Qatar at SPIEF 2021, Deputy Prime Minister and Minister of Foreign Affairs H E Sheikh Mohammed bin Abdulrahman Al Thani said that the participation of Qatar in SPIEF 2021 is a great opportunity to enhance Qatari-Russian ties, which have grown greatly in recent years under the wise leadership of Amir H H Sheikh Tamim bin Hamad Al Thani and President of the Russian Federation H E Vladimir Putin.
Separately during the inauguration of the Qatari-Russian Business Dialogue, Minister of Commerce & Industry and Acting Minister of Finance, H E Ali bin Ahmed Al Kuwari, said the volume of trade exchange between the State of Qatar and the Russian Federation has increased by 47 percent during the past two years, to reach $296m in 2020, compared to $201.16m in 2019.
Investment Promotion Agency of Qatar (IPA Qatar) has also signed three memoranda of understanding with each of BI.ZONE, a cybersecurity company; Accord Pitch Doha, a Russian transportation and hospitality service provider; and WadiWater, an innovative agricultural and water technology company, at the national pavilion of the State of Qatar participating SPIEF 2021. The value of investments of the signed agreements is expected to amount to more than QR145m, as these agreements will support Russian investments in various sectors.
