The Republic of Korea hosted the Sixth High-Level Strategic Cooperation Committee Between the State of Qatar and the Republic of Korea. His Excellency Sheikh Mohammed bin Hamad bin Qassim Al-Thani, Minister of Commerce and Industry, and His Excellency Mr. Lee, Chang-Yang, Minister of Trade, Industry and Energy of the Republic of Korea, chaired the committee meeting held in Seoul.
During the meeting, H.E. the Minister of Commerce and Industry praised the progress achieved during the sixth committee and appreciated the results in areas of common interest.
H.E. the Minister emphasized the importance of bilateral cooperation in the development of both countries. Qatar considers Korea as a strategic partner due to shared interests and several signed MOUs between the two nations. H.E. the Minister called on the Qatari and Korean private sectors to strengthen cooperation and build solid partnerships, aligning with the mutual aspirations for progress, development, and prosperity.
H.E. the Minister also highlighted the strength of the economic relations between the two nations, with the Republic of Korea being Qatar’s third-largest trading partner with the bilateral trade exceeding $14 billion in 2022.
During the session, cooperation in various priority fields was discussed, along with the progress made in implementing the recommendations of the working group. The meeting focused on strengthening bilateral cooperation in trade, investment, construction, infrastructure, agriculture, shipping, civil aviation, health, education, high-tech, technology, culture, and sports.
On the sidelines of the committee, H.E. the Minister of Commerce and Industry witnessed the signing ceremony of several MOUs between the State of Qatar and the Republic of Korea in the economic, trade, and investment fields.
These MOUs included an agreement between the Ministry of Commerce and Industry and the Korean Intellectual Property Office (KIPO), signed by H.E. Mr. Khalid bin Ibrahim Al-Hamar, Ambassador of the State of Qatar to the Republic of Korea, on the Qatari side.
Additionally, an MOU was signed between the Investment Promotion Agency Qatar (IPAQ) and the Korea Trade-Investment Promotion Agency (KOTRA) to facilitate joint investments between the two countries. Another MOU was signed with the Korean company “NEXTON” to strengthen cooperation in smart agriculture and food security. The memorandum was signed by H.E. Sheikh Ali Alwaleed Al-Thani, CEO of IPAQ, on the Qatari side.
Several Qatari entities and institutions also participated in the Qatari Korean Investment Forum, held alongside the sixth session of the joint committee. The forum featured presentations by the Investment Promotion Agency Qatar, Qatar Free Zones, Qatar Chamber, and Qatar Science & Technology Park, highlighting the incentives and promising investment opportunities that Qatar offers to foreign investors. Bilateral meetings were also conducted between businessmen from both sides to explore cooperation, and joint projects and establish long-term economic cooperation between Qatari and Korean companies.
