India, Qatar Commit To Address Bilateral Trade Concerns Promptly

India and Qatar have agreed to swiftly address all pending bilateral trade issues and identified key areas to enhance trade and mutually beneficial cooperation in Doha for a Joint Working Group meeting.

The Commerce Ministry highlighted significant potential for further economic collaboration, identifying key areas such as gems and jewellery, customs collaboration, local currency trade, pharmaceuticals, food processing, food security, and support for micro, small, and medium enterprises.

During discussions, both nations reviewed progress on a Memorandum of Understanding for food safety and pre-arrival information exchange to streamline trade and customs procedures. They committed to promptly resolving obstacles hindering bilateral trade and promoting commerce between the two countries.

Co-chaired by Priya P Nair from India's Ministry of Commerce and Industry and Saleh Al-Mana from Qatar's Ministry of Commerce and Industry, the meeting also explored activating the Joint Business Council to drive private sector initiatives in trade and investment.

With bilateral trade reaching $14.08 billion in 2023-24, India stands as Qatar's second-largest trading partner. "Both sides agreed to hold the next meeting of the JWG in 2025, in New Delhi. The deliberations of the first session of India-Qatar JWG were cordial and forward-looking, reflecting the friendly and special relations between the two countries," the official statement said.

(With inputs from PTI)