Business

Qatar-Sri Lanka trade volume reaches $73 million in 2017

The total trade volume between Qatar and Sri Lanka stood at $73 mn in 2017, according to Qatar Chamber vice chairman Mohamed bin Towar al-Kuwari, the Gulf Times reported.

Speaking at the ‘Employment Promotion in Qatar,’ organised by the Sri Lankan Embassy in Qatar and the Chamber, al-Kuwari said Qatar considers Sri Lanka as a “strategic partner” in South Asia.

He said both countries signed various agreements and memoranda of understanding (MoUs) to enhance economic relations, “but what has been achieved so far does not reflect the capabilities both countries have.”

“The state of Qatar is attaching great importance to developing co-operation relations in South Asia. There are many Qatari investments in this vital region and there is room for more in the near future,” al-Kuwari said in his speech.

In 2017, al-Kuwari said the Chamber met with Sri Lankan President Maithripala Sirisena, who, according to the Qatar Chamber official, “was very keen to meet Qatari businessmen whom he encouraged to invest in Sri Lanka.”

Al-Kuwari noted that there are around 210 Sri Lankan companies operating in Qatar with a capital of about QR45.5mn.
“On behalf of Qatar Chamber, I’d like to invite more Sri Lankan companies to take part in the renaissance taking place in Qatar and to establish joint ventures with Qataris in all sectors.

“Meanwhile, we urge Qatari businessmen to explore the abundant investment opportunities in Sri Lanka and to establish business partnerships and alliances with their Sri Lankan counterparts,” al-Kuwari said.

He said there are around 120,000 Sri Lankans employed in Qatar, and added that the “distinguished relations” between Qatar and Sri Lanka “are reflected in the presence of a large number of Sri Lankan expatriates who contribute to the development of Qatar.”

“I will seize this opportunity to emphasise Qatar’s great efforts to strengthen and ensure the rights of the expatriate labourers through the applied laws and procedures. The achievements of Qatar regarding the care of expatriate labourers included the building high-quality labour camps and creating labour dispute resolution committees to facilitate litigation for labourers in need of care,” al-Kuwari said. (Colombo Gazette)

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

To Top