Mays Ibrahim (ABU DHABI)
The UAE will join the people of Qatar in celebrating their National Day on December 18, marking the occasion as a symbol of the close and enduring fraternal relationship between the two nations.
The ties between the UAE and Qatar are built on centuries of shared cultural, religious and linguistic traditions, bolstered by proximity and a growing economic partnership.
A Strong Economic Partnership
The UAE has long been one of Qatar's most important trade partners. According to 2022 data, the UAE accounted for 53% of Qatar's trade with Arab nations, ranking as Qatar's top Arab trading partner and 10th globally.
Conversely, Qatar holds a significant place in the UAE's trade portfolio, ranking 15th among the UAE's global trading partners in 2022.
Non-oil trade between the two countries has seen remarkable growth. In 2022, the trade volume surged to Dh31 billion, representing a year-on-year increase of 121.4%.
In 2010, non-oil trade stood at Dh8.6 billion, and by 2021, it had grown to Dh14 billion, underscoring the ever-expanding business ties.
Investment between the UAE and Qatar is also flourishing. Qatari investment in the UAE reached Dh4.3 billion, with nearly 1,500 Qatari trademarks registered in the country. Key sectors for Qatari investment in the UAE include finance, real estate, insurance, manufacturing and retail, among others.
On the other side, the UAE has invested Dh29 billion in Qatar across various sectors, including construction, aluminium production, tourism and real estate.
These investments play a critical role in both countries' economic diversification efforts, particularly as both nations continue to transcend the oil and gas industries.
The UAE and Qatar continue to solidify their relationship through practical agreements that benefit both nations.
In May 2024, the two countries signed an agreement to avoid double taxation and prevent fiscal evasion, which will further stimulate trade and investment flows between the two countries.
Strengthening Diplomatic Ties
The robust economic relations between the UAE and Qatar are complemented by high-level diplomatic engagements.
2024 saw several reciprocal state visits by the leadership of both nations.
In January, President His Highness Sheikh Mohamed bin Zayed Al Nahyan received His Excellency Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani, Prime Minister and Minister of Foreign Affairs of the State of Qatar.
In March, His Highness Sheikh Tamim bin Hamad Al Thani, Emir of the State of Qatar, welcomed at his office at Lusail Palace, His Highness Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs, in the presence of His Excellency Sheikh Mohammed bin Abdurrahman bin Jassim Al Thani.
His Highness Sheikh Tamim bin Hamad Al Thani received His Highness Sheikh Tahnoon bin Zayed Al Nahyan, Deputy Ruler of Abu Dhabi and National Security Adviser, and his accompanying delegation at the Emiri Diwan in Doha in August.
In October, His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, arrived in Qatar on an official visit.
On behalf of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Chairman of the Presidential Court, led the UAE delegation at the Third Asia Cooperation Dialogue (ACD) Summit, inaugurated by His Highness Sheikh Tamim bin Hamad Al-Thani in October.
In November, President His Highness Sheikh Mohamed bin Zayed Al Nahyan received His Excellency Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani.
His Highness Sheikh Mansour bin Zayed Al Nahyan attended the final race of Qatar Formula 1 Grand Prix 2024, held at the Lusail International Circuit in Doha earlier this month, in the presence of His Highness Sheikh Tamim bin Hamad Al Thani.