Economists, Businessmen to QNA: HH the Amir’s Visit to Netherlands Gives New Momentum to Economic Relations Between the Two Countries

Doha: A number of economists and businessmen confirmed that the visit of HH the Amir Sheikh Tamim bin Hamad Al-Thani to the Kingdom of the Netherlands will give new momentum to relations between the two countries, especially in the economic field. They said, in exclusive statements to Qatar News Agency , that the visit will provide more opportunities for the two countries to enhance bilateral cooperation in the sectors of energy, food security, support for small and medium-sized enterprises (SMEs) and tourism, in addition to increasing trade exchange. In this context, Economist Dr. Khalid Al Kuwari stressed that the economic relations between the State of Qatar and the Kingdom of the Netherlands are characterized by multifaceted and comprehensive fields, noting that they cover important sectors such as energy, sports, food security, and health care. In statements to QNA, he said that the visit of HH the Amir Sheikh Tamim bin Hamad Al-Thani to the Netherlands is of great significance, as it will give new mo mentum to relations between the two countries and will open broader horizons for increasing bilateral cooperation and coordination in regional and international issues of common interest. The State of Qatar plays an important and vital role in securing energy supplies at the global level, and its contribution in this context can enhance energy security in Europe, including the Netherlands. The State of Qatar can also benefit from the comparative advantages of the Netherlands in the sectors of agriculture, animal production and others. There are important economic integration processes between the two countries that can be benefited from, Al Kuwari added. For his part, Qatari businessman Mansour bin Sultan Al Mansoor Al Nuaimi confirmed, in statements to QNA, that the visit of HH the Amir Sheikh Tamim bin Hamad Al-Thani to the Netherlands will open broad horizons for cooperation between the two countries in various fields, and enable the private sector in the two countries to build diverse partnerships, espe cially since both countries have differential advantages that help diversify opportunities for cooperation and technology transfer. Al Nuaimi noted the capabilities enjoyed by the Qatari private sector, specifically small and medium-sized enterprises (SMEs), which can use Dutch ports such as the port of Rotterdam as a gateway to enter European markets, estimated at more than 400 million people, in addition to attracting Dutch investments, especially since the State of Qatar is linked to many regional free trade agreements which enable the business sectors of both countries to benefit from it. Al Nuaimi stressed the keenness of the two countries to strengthen their partnerships, which is reflected in the high volume of trade exchange between them, estimated at QR 3.4 billion last year. He said that there are promising sectors in which the two parties can increase trade exchange and enhance what already exists in the fields of energy and agriculture such as manufacturing industries, including the pharmaceutic al and food industries, in addition to the tourism sector. These relations will grow thanks to the long-term supplies of gas that the State of Qatar will provide to Europe. It has reached a supply agreement with the Netherlands to provide 3.5 million tons of liquefied natural gas (LNG) annually for a period of 27 years, he said. At the conclusion of his statements to QNA, Al Nuaimi confirmed that the visit of HH the Amir Sheikh Tamim bin Hamad Al-Thani to the Netherlands is expected to witness the launch of many investment initiatives in a number of sectors of common interest, whether in the State of Qatar or the Netherlands, in addition to discussing commercial cooperation. According to the latest data from the National Planning Council, the volume of trade exchange between the State of Qatar and the Kingdom of the Netherlands amounted to about QR 3.4 billion last year, as total Qatari exports to the Netherlands amounted to QR 1.972 billion, while Qatars total imports from the Netherlands amounted to abou t QR 1.464 billion. Meanwhile, the trade balance surplus reached about 508 million QR in the year 2023. According to the same data, obtained by QNA, the State of Qatars exports to the Netherlands were mainly oil gases and other gaseous hydrocarbons, amounting to QR 1.334 billion, in addition to petroleum oils, oils obtained from raw continental mineral materials, ethylene polymers in their primary forms, raw aluminum and various other exports, while the State of Qatars imports from the Netherlands concentrated on dairy products, potatoes, horses for sport and other products. It is noteworthy that two companies affiliated with QatarEnergy and Shell signed last year long-term sale and purchase agreements to supply up to 3.5 million tons annually of liquefied natural gas (LNG) from Qatar to the Netherlands. Under the two agreements, gas shipments will be delivered to the Gate LNG Terminal in the Dutch port of Rotterdam starting in 2026, for a period of 27 years. Quantities of liquefied natural gas will be sup plied from the two companies that own shares in the North Field East and North Field South expansion projects. Source: Qatar News Agency