Egypt, Qatar discuss ways to strengthen relations in various fields, boost cooperation



Mon, 27 Feb 2023 - 04:06 GMT


Mon, 27 Feb 2023 - 04:06 GMT

PM Madbouli asserts Egypt-Qatar relations are strong, profound

PM Madbouli asserts Egypt-Qatar relations are strong, profound

CAIRO - 27 February 2023: Prime Minister Mostafa Madbouly affirmed on Monday that the Egyptian-Qatari relations are old and well-established, and that these relations will be strengthened in many areas during the coming period.


"The current situation does not live up to the capabilities of the two countries and the aspirations of their peoples," the prime minister stated.


This came during a session of expanded talks between Madbouly and Qatari Prime Minister Sheikh Khalid bin Khalifa bin Abdul Aziz Al-Thani.


During the talks, Madbouly expressed his happiness to be making his first official visit to Qatar, and congratulated the Qatari people and government on the great renaissance taking place in the country, and the success of the FIFA World Cup 2022 that was organized by Qatar in an honorable way for all Arabs.


The prime minister thanked the Qatari government for its generous support of the Egyptian community in Qatar, stressing the brotherly ties that bind the two peoples, and highlighting the Egyptian state's pride in the Qatari community in Egypt and their appreciated contributions in various economic fields.


For his part, Sheikh Abdul Aziz Al-Thani expressed his happiness to be receiving the Egyptian prime minister and the high-level delegation accompanying him, noting that Qatar is looking forward to strengthening relations with Egypt in various fields, and adding that the coming period will witness more cooperation especially in terms of Qatari investments in Egypt.


The Qatari prime minister praised the signing of an agreement to

prevent double taxation between the two countries, explaining that the agreement will have a tangible impact on increasing and encouraging Qatari investments in Egypt.


He also welcomed the proposed areas of cooperation with Egypt in the fields of pharmaceutical manufacturing, free zones, hotels, and various construction and real estate activities.


Sheikh Abdul Aziz Al-Thani added that the business forum set to be held by the two countries in the second quarter of 2023 comes as a good opportunity to explore more areas of bilateral cooperation between the Egyptian and Qatari business communities.


Moreover, the talks investigated proposals to increase the trade exchange between the two countries, the potential of a cooperation in the field of green hydrogen, and the possibility of extending pipelines to Europe to export energy.


The two sides also agreed to arrange a visit for a delegation of Qatari businessmen to the free zones in Egypt and the economic zone of the Suez Canal to get acquainted with the available investment opportunities.


The Qatari side praised the measures taken by the Egyptian government to improve the investment climate and the business environment, which include expanding the possibility to grant the golden license for investment projects, unifying the bodies issuing approvals and reducing their number, and developing the system for allocating industrial lands.


The expanded talks were attended by Minister of Health and Population Khaled Abdel Ghaffar, Minister of Planning and Economic Development Hala al-Saeed, Minister of Finance Mohamed Moait, Minister of Trade and Industry Ahmed Samir, Egyptian Ambassador to Qatar Amr el-Sherbiny, Chairman of the General Authority for Investment and Free Zones Hossam Haiba, and Chairman of the General Authority for the Suez Canal Economic Zone Walid Gamal el-Din.


Egypt and Qatar signed a governmental agreement to avoid double taxation and prevent tax evasion.

The agreement stipulates the regulations and conditions for imposing taxes, in order to avoid double taxation on immovable property, business revenues, global, maritime and air transportation, joint projects, stock revenues, interests, capital revenues, in addition to independent and non-independent personal services.
Qatari investments in Egypt increased 2 percent to $518.3 million during the fiscal year 2021/2022, compared to $507.9 million during the fiscal year 2020/2021.
Trade exchange between Egypt and Qatar hiked 76.2 percent to reach $80.1 million during the first 11 months of 2022, compared to $45.5 million during the same period in 2021, according to the state-statistic body.




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