Qatar-Thailand 2011 Trade Exchange Worth $2.8 Billion

Doha, May 17 (QNA) - Trade exchange between Qatar and Thailand has jumped by 24% over the past few years, becoming $2.8 billion in 2011 compared to $2.3 billion in 2007, Thai Prime Minister Yingluck Shinawatra said. The Thai premier spoke as Qatar Chamber of Commerce and Industry (QCCI) hosted a joint meeting for Qatari and Thai businessmen, and said that her country exports cars to Qatar, and imports oil, fertilizers and chemical products. Shinawatra hoped the joint meeting will help Qatari-Thai joint business grow, pointing to the three-decade old diplomatic relations between the two countries. She added that International Monetary Fund (IMF) reports indicate that growth in Qatar averaged at 8.1 % between 1994 - 2003, while this year's growth will be 6%, a similar figure to the one expected in Thailand, she said. Shinawatra said that her country strives to become one of the world's top ten car manufactures in the coming years. The big commercial delegation accompanying the Thai official is encouraged by Qatar's investment attractions, and several Thai investors are willing to invest in the Gulf country, Shinawatra said. She highlighted the surge in Qatari tourists visiting her country, as 28,000 visited Thailand in 2011, a growth of 24 %. Shinawatra pointed to agriculture and food industry as one field where Qatar and Thailand can develop their partnership, noting that Thailand is the world's biggest producer of rice, fruits and fish, and has one of the most advanced food industries in the world. Qatar may be interested in scouting investment opportunities in Thailand in sectors such as car spare parts and components, electronics, electric products, alternative energy, biotechnology, petrochemicals, and agriculture, the Thai prime minister said. She added that Thai contracting firms are interested in participating in infrastructure projects of 2022 World Cup and Qatar National Vision 2030. She also encouraged Thai companies to increase cooperation with Qatar in the fields of energy and petrochemicals, noting that several reasons would encourage each of the two countries to invest in the other. Addressing the audience during the meeting, QCCI Vice Chairman Mohammed bin Towar Al Kuwari said he hopes for enhancing commercial relations between Qatar and Thailand. Al Kuwari highlighted the investment opportunities between the two countries in the fields of industry, tourism and medical treatment. He pointed to Qatar's GDP, the highest in the region, noting that Qatar is a perfect regional investment destination, and to the facilities QCCI offers investors in Qatar. QCCI vice chairman stressed that several investment opportunities exist in the two countries, and said that QCCI is ready to support the presence of Thai firms in Qatar, while he encouraged Qatari businessmen to invest in Thailand. It is noted that Thailand's Prime Minister Yingluck Shinawatra left Doha on Wednesday evening along with her accompanying delegation, wrapping up a two-day official visit to Qatar. (QNA)