- Trade between Qatar and Saudi Arabia is booming: From $184.6 million in 2021 to $802.5 million in 2023, showing just how quickly business between these Gulf neighbors is growing.
- Both countries are focusing on working together in three main areas: real estate development, sports initiatives, and supporting new businesses. They’re especially keen on getting their companies to work together.
- Qatar’s new development plan for 2024-2030 opens doors for Saudi businesses to join in on major projects, particularly in areas like infrastructure and new business ventures.
Qatar and Saudi Arabia have taken significant steps to strengthen their economic partnership through a high-level roundtable discussion on investment development held in Riyadh on December 29, 2024. The talks, co-chaired by Mohamed bin Hassan Al-Malki, Undersecretary of Qatar’s Ministry of Commerce and Industry, and Ibrahim bin Yousef Al-Mubarak, Saudi Arabia’s Assistant Minister of Investment, focused on expanding bilateral investments in key sectors.
The meeting highlighted the remarkable growth in bilateral trade between the two nations, which has surged from USD 184.6 million in 2021 to USD 802.5 million in 2023, marking an impressive growth rate of over 335%. The discussions centered on fostering collaboration in real estate, sports, and entrepreneurship sectors, with both nations expressing commitment to further strengthening their economic ties.
Al-Malki emphasized Qatar’s achievements under Qatar National Vision 2030, particularly in infrastructure development and business partnerships. He outlined how Qatar’s Third National Development Strategy (2024-2030) creates new opportunities for joint cooperation and investment between the two nations.
The roundtable also facilitated direct engagement between private sector representatives from both countries, enabling discussions on potential partnerships and knowledge exchange. Both nations highlighted the importance of strengthening collaboration between small and medium-sized enterprises (SMEs) to drive industrial integration and enhance bilateral trade relations.
