Economic Experts to QNA: Qatari-European Ties Set Example for Partnership, Strategic Cooperation -1-

For his part, economic analyst Dr. Khalid Al Kuwari highlighted that the first GCC-European Union summit, set to be held at the EU headquarters in Brussels, holds significant momentum given the depth of bilateral relations between Qatar and EU countries on one hand, and GCC-European relations on the other. Al Kuwari expressed, in a statement to Qatar News Agency , that he expects this summit to elevate relations between the GCC and European countries to new horizons, fostering a foundation of mutual interests and opening new avenues for cooperation and joint coordination across various fields. He emphasized Qatar's vital role in securing energy supplies for different countries globally, especially EU nations, as well as its prominent role in mediation efforts and peaceful conflict resolution in the region and the world, which contributes to enhancing international peace and security. Dr. Al Kuwari stressed, in his comments to QNA, the great importance of the partnership between Qatar and the EU in energy, c lean energy, and strategic investments, which benefits the growth of EU economies as well as Qatars national economy, which aims to diversify its exports. According to data from the National Planning Council, trade volume between Qatar and the EU reached QR 76.91 billion in 2023. Qatar's total exports (both local exports and re-exports) amounted to around QR 45.198 billion, while total imports reached approximately QR 31.712 billion, resulting in a trade surplus of QR 13.485 billion. The National Planning Council data, as obtained by QNA, indicated that Qatar's exports to the EU mainly consisted of crude oil, petroleum-based mineral oils, and oils derived from non-crude mineral materials. Meanwhile, Qatars imports from the EU centered on jet and propulsion turbines, pharmaceuticals, passenger vehicles, iron ores and concentrates, pipes, air pumps, vacuum pumps, jewelry, and other products and goods. Joint committees have already begun preparations for the Gulf-European summit of GCC and EU leaders. This su mmit crowns the distinguished relations between the two sides and seeks to enhance these ties to further common interests. In the same context, the 32nd meeting of the Joint Cooperation Committee between the GCC and the EU was held last September in Riyadh, Saudi Arabia. The meeting reviewed cooperation initiatives and the outputs from technical teams, preparing them for presentation to the GCC-EU joint council and the Gulf-European summit. Discussions also covered planned events to activate various areas in the joint action program, including trade, investment, energy, climate change, green transformation, digital transformation, education, scientific research, humanitarian aid, development, and disaster preparedness. Qatar also hosted the 13th GCC-EU Economic Dialogue last September, where key economic challenges, policy priorities, and regional and international risks to security and stability were discussed. The dialogue also featured presentations on policies for economic diversification, enhancing tra de and investment, and achieving a more sustainable green transition. The relations between Qatar and the EU are characterized by close ties based on long-term cooperation, strengthened through meetings with officials, reciprocal visits, and organizing events in various fields. Source: Qatar News Agency