Uncategorized

Trade between Qatar and Australia is expected to be boosted by fintech and foodtech, according to the Australian trade commissioner

Some of the new areas that are expected to enhance commerce between Australia and Qatar include financial technology (fintech), agriculture and food technology (agtech), and medical technology (medtech), according to Moin Anwar, Australia’s Trade and Investment Commissioner for the Middle East.
Anwar made the comment at a recent webinar held by Doha Bank. Doha Bank CEO, Dr R Seetharaman moderated the webinar on ‘Bilateral and Synergistic Opportunities between Qatar and Australia’ in the presence of Saad aI-Shareef, the ambassador of Qatar to Australia; Jonathan Muir the ambassador of Australia in Qatar; and Hilton Wood, the chief representative of the Doha Bank Australia Representative Office. Anwar stated in his presentation that the food and beverage (F&B), building and construction, education, and healthcare sectors offer the potential for Qatar-Australia trade to develop.
“We are working with Doha Bank to facilitate trade and investment between Qatar and Australia…NSW is the recipient of agriculture investment from Qatar that includes logistics and infrastructure. Investments are also received from Qatar Investment Authority (QIA). The game-changer was Qatar Airways’ non-stop flight to Sydney. Qatar provides opportunities for Australian exports in food, construction, and much more.” he said.
Anwar added: “From an investment perspective, NSW has recently created Special Activation Precincts (SAPs) where investors can look for opportunities in logistics, manufacturing, and energy. The Western Sydney Aerotropolis will become an economic centre. The new Sydney Airport is set to begin operations in 2026.
“The food, manufacturing, and other sectors are expected to provide opportunities from these developments…staying connected is vital to promote bilateral opportunities. Technology will attract bilateral investment between countries.”
“Today, Qatar stands as an attractive choice for foreign investors. There are many synergies that exist between Qatar and Australia, and businesspeople can explore and capture the potentials for post-pandemic economic recovery.” said al-Shareef in his speech.
He also praised Qatar Airways’ “aggressive crisis approach,” adding it helped the airline to “get a larger proportion of both the passenger and cargo market internationally. He also said QIA is seeking to expand its footprint in Australia: “As part of this, QIA recently established an Asia regional office in Singapore, making it even easier for Australian investors to engage.”
On reduced non-tariff barriers for Australian goods and services, Muir said: “Australia will continue to press Qatar to increase the shelf life of Australian vacuum-packed beef from 90 to 120 days to be in line with GCC standards.”
“Qatar-Australia trade exceeded AUS$2bn in 2019-2020. Qatar Airways brought Australians home during Covid-19. Australia is an important market for Qatar Airways. Agriculture is one of the largest areas of Qatari investments in Australia. Other attractive sectors include infrastructure, roads, railways, and airports. Huge potential is looming in real estate, office buildings, and luxury hotels.” said Seetharaman.
“Qatar’s trade surplus had surged year-on-year in June 2021. The promising investment sectors in Qatar include fintech, healthcare, logistics, and education,” Seetharaman added

Related Articles

Leave a Reply

Back to top button

Adblock Detected

Please consider supporting us by disabling your ad blocker