Qatari-Korean talks to boost cooperation as trade volume reaches $5 billion in first half –

Qatari-Korean talks to enhance cooperation with trade volume reaching $5 billion in the first half

DOHA, Oct. 24, 2021 (Xinhua) Qatar and the Republic of Korea on Sunday discussed enhancing cooperation between the two countries in various fields, coinciding with announcing that trade exchange between the two sides grew by 29 percent in the first half of this year compared to the previous year, reaching 5 billion American dollar.

The official Qatar News Agency (QNA) stated that the Prime Minister and Minister of Interior Sheikh Khalid bin Khalifa Al Thani received today the Minister of Commerce, Industry and Energy of the Republic of Korea Moon Sung-wook and the accompanying delegation on the occasion of their visit to the country.

During the meeting, the relations of cooperation between the two countries and ways of developing and strengthening them in various fields were reviewed, and a number of issues of common interest were discussed, according to the same source.

In conjunction with the visit of the Korean Minister of Trade, Industry and Energy, the First Vice-President of Qatar Chamber Mohammed bin Towar Al-Kuwari announced that the volume of trade exchange between his country and the Republic of Korea amounted to $5 billion during the first half of this year, achieving a growth of 29 percent compared to the same period in 2020. .

Al-Kuwari added, in a meeting that included Qatari and Korean businessmen in Doha, that the volume of trade exchange between the two countries amounted to $3.9 billion in the first half of last year, while it reached $7 billion during the whole of last year and continued to grow this year, according to the Qatar Chamber in statement on its website.

He stressed that the Republic of Korea is an important trading partner for his country, expecting further growth in bilateral trade in the coming years, amid the desire of businessmen on both sides to establish trade alliances, in addition to the Republic of Korea being a distinguished destination for Qatari investments in various sectors.

For his part, Vice President of the Korea Chamber of Commerce and Industry Wu Tae-hee described the relations between the two countries as “solid”, citing that despite the repercussions of the novel coronavirus disease (Covid-19) over the past two years, the economic cooperation between Seoul and Doha has never stopped.

The South Korean official explained that there are Korean companies working on several projects in Qatar, including the development of gas fields, the construction of the National Museum, power stations and roads to contribute to the consolidation of economic cooperation between the two countries, according to the Qatar Chamber.

Qatar is a major supplier of liquefied natural gas to the Republic of Korea. In July this year, Qatar Petroleum signed a new sale and purchase agreement with the Korea Gas Corporation (Kogas), under which two million tons of liquefied gas will be supplied annually for a period of 20 years.

According to (Qatar Petroleum), the Qatari company currently supplies Kogas with more than 9 million tons annually of liquefied natural gas through long-term agreements, while the various gas companies affiliated with (Qatar Petroleum) since 1999 have delivered more than 2,500 shipments to Korea. Its total quantity exceeds 185 million tons, making Doha the largest supplier of gas to Seoul. /ts/


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