Today's Edition
RASHA TABEELA (ABU DHABI)
Non-oil trade between the UAE and Qatar has grown throughout the years - from Dh8.6 billion in 2010, to Dh14 billion in 2021 and Dh31 billion in 2022 - achieving record growth of 121.4% year-on-year - as a result of strong economic, investment, and commercial relations, according to data from the Ministry of Economy (MOEC).
These figures reflect the strong relations between the two countries under the umbrella of the Gulf Cooperation Council (GCC), and their historical ties supported by a shared cultural and social legacy, which has enabled relations to become stronger, as is reflected in the two countries’ shared economic, cultural, and creative endeavours.
Strong UAE-Qatar relations further solidify the stable and prosperous GCC, where the shared cultural and social legacy is among the elements of strengthening relations and consolidating the historical ties between the two countries and their peoples.
According to MOEC data on investment relations between the UAE and Qatar, the volume of Qatari investments in the UAE has reached Dh4.3 billion, and there are 1,475 Qatari trademarks registered in the country.
Qatar has 8 commercial agencies and 14 companies registered in the UAE. Qatari investments in the UAE are largely centred in the following sectors: finance, insurance, manufacturing, real estate, scientific and technical activities, food service, accommodation, wholesale and retail trade, repair of motor vehicles and motorcycles, mining and quarrying, information and communication, and administrative and support services.
Direct investment from the UAE in Qatar is valued at around Dh29 billion, according to the MOEC data, and is concentrated in various sectors including construction, aluminium industry, pharmaceutical and cosmetic manufacturing, power generation, wholesale and retail trade, constructing shopping and entertainment centres, real estate, tourism and travel, oil and natural gas exploration, and refrigeration.
The markets in both countries are characterised by their openness to investors in different economic activities and investment orientations, which positively contributes to the shared expansion of investment. Qatar is the UAE’s sixth-largest investment partner at the Arab level and the 26th-largest partner globally in terms of the cumulative balance of foreign direct investment entering the UAE as of the beginning of 2021.
The UAE’s re-exports to Qatar reached Dh9 billion during the first half of 2022, with a growth of 293% compared to the same period in 2021. The relations between the two countries are reflected in many agreements, contracts, participation in economic, political, and educational matters, and cooperation in industry, energy, trade, culture and arts, higher education and scientific research, among other fields.
