Commerce and Industry Ministry Piyush Goyal wrapped up a three-day visit to Qatar yesterday, marking a significant step in economic ties between the two nations as they set ambitious bilateral trade targets.
During his visit, Mr. Goyal called on Qatar’s Prime Minister and Foreign Minister Sheikh Mohammed bin Abdulrahman Al Thani. Both sides reaffirmed their commitment to advancing trade and investment cooperation under the strategic partnership established during the visit of Qatar’s Amir to India.
The highlight of the visit was the Joint Commission meeting on Economic and Commercial Cooperation held on the 6th of this month, which Mr. Goyal co-chaired with Qatar’s Minister of Commerce and Industry, Sheikh Faisal bin Thani bin Faisal Al Thani. The two ministers reviewed various aspects of bilateral trade and investment relations and agreed to intensify efforts toward achieving targets of doubling bilateral trade by 2030 and launching negotiations for a Free Trade Agreement.
Both ministers also addressed the inaugural meeting of the Joint Business Council, which is co-chaired by the Qatar Chamber and the Federation of Indian Chambers of Commerce and Industry. The leaders encouraged businesses on both sides to leverage the strategic partnership and cultural connections between the two countries to further strengthen economic ties. Mr. Goyal emphasised that the robust nature of both economies offers greater synergies across various sectors for shared growth and prosperity.
On financial cooperation, Mr. Goyal met with Governor of the Qatar Central Bank and Chairman of the Qatar Investment Authority Sheikh Bandar bin Mohammed bin Saoud Al Thani. Discussions focused on various sectors for investment opportunities in India, with both sides reiterating their commitment to Qatar’s target of investing ten billion dollars in India and the planned opening of a Qatar Investment Authority office in India. During his visit, Mr. Goyal met with businesses, professionals, and community members from India and attended the launch ceremony of India’s Unified Payments Interface system in Qatar.