IPA Qatar and Business France publish joint report on bilateral trade and FDI
20 February 2023, Doha – Qatar: The Investment Promotion Agency Qatar (IPA Qatar) and Business France have jointly released the “Qatar-France Report on Bilateral Trade and Foreign Direct Investment”.
The report highlights the multitude of collaborations, treaties and agreements that have led to a strong economic and political relationship between Qatar and France over the past five decades of formal diplomatic relations. Bilateral trade volume between Qatar and France has consistently exceeded more than USD 1 billion annually since 2014 and amounted to nearly USD 1.7 billion in 2021. According to the Bank of France, the stock of French foreign direct investment (FDI) in Qatar has been increasing since 2008, reaching USD 1.16 billion in 2021, with more than 120 French businesses and over 80 franchises registered in Qatar to date.
Similarly, Qatar has a strong footprint in France through its investments in real estate, retail, transport, finance, sports and luxury sectors, including the French private sector, both in large companies and innovative SMEs.
Noting the positive bilateral developments in the realm of trade and FDI, Sheikh Ali Alwaleed Al-Thani, CEO, IPA Qatar, said: “We are pleased to collaborate with Business France to present this comprehensive report that draws on the significant bilateral trade and foreign direct investment between France and Qatar. This collaboration complements our continued efforts in connecting investors to the plethora of emerging opportunities in Qatar, which will undoubtedly take this multifaceted cooperation to new heights.”
Laurent Saint-Martin, Chief Executive Officer of Business France said: “The report highlights the strength of economic relations between France and Qatar, characterised by steadily increasing trade and significant foreign direct investment in both directions. The initiatives of Business France and our Qatari partners to foster business relationships have made it possible to forge lasting partnerships in key sectors, such as energy, transport, infrastructure and tech.”
During the Inaugural Qatar-France Strategic Dialogue in March of last year, IPA Qatar and Business France signed a Memorandum of Understanding (MOU) to boost FDI and develop favourable investment conditions for potential investors in Qatar. The Qatar-France report projects that the economic relationships forged between the two countries will continue to flourish, with the flow of bilateral trade and FDI spurred by the nations’ enactment of additional economic targets across all industry sectors, in line with Qatar’s economic diversification goals.