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HE Sheikh Ahmed bin Jassim bin Mohammed Al-Thani, Qatar’s Minister of Economy and Commerce, and Dato’ Sri Mustapa bin Mohamed, Malaysia’s Minister of International Trade and Industry, attended the signing ceremony of a memorandum of agreement and memorandum of understanding between Qatar Chamber and the National Chamber of Commerce and Industry of Malaysia on Monday, October 16, 2017. The ceremony took place on the sidelines of the Malaysian-Qatari Economic Forum organized by the Qatari Ministry of Economy and Commerce, in cooperation with the Malaysian Ministry of International Trade and Industry in Kuala Lumpur.
HE Sheikh Khalifa bin Jassim bin Mohammed Al Thani, Chairman of Qatar Chamber, and Mr Rizal Faris bin Mohideen Abdul Kader President, Malay Chamber of Commerce Malaysia (MCCM) & Vice President, National Chamber of Commerce and Industry of Malaysia (NCCIM), co-signed the memorandums.
The Memorandum of Agreement on the establishment of a Joint Business Council between Qatar Chamber and the National Chamber of Commerce and Industry of Malaysia aims at fostering friendship and understanding between the business communities of the two nations, and promoting co-operation in the trade, investment, technology transfer, services and industrial sectors.
The joint Malaysian-Qatari Business Council will collate the necessary information on the economies of both countries, which will enhance bilateral investments. The council will also submit recommendations on how to develop economic and trade cooperation between the Qatari and Malaysia governments and encourage businessmen from both countries to participate in exhibitions organized in Qatar or Malaysia.
Qatar’s Minister of Economy and Commerce also attended the signing ceremony of a memorandum of understanding between Qatar Chamber and the National Chamber of Commerce Industry of Malaysia.
In line with the MoU, both parties will promote and facilitate measures to foster the diversification of commercial exchange and economic cooperation.
 
 
 
Each party will also provide businessmen and investors with information on the economies of both countries, including the volume of bilateral trade, exports and imports, and will be responsible for highlighting opportunities to enhance trade and investment cooperation between Qatari and Malaysian companies, and organizing exhibitions in both countries.
Under the MoU, both parties will exchange information on legislations regulating the commercial and investment sectors in both countries, as well as expertise relating to commercial arbitration and best practices in dispute resolution, in addition to other aspects of mutual interest.
The Memorandum of Agreement and MoU will contribute to the development of trade and economic relations between Qatar and Malaysia and enhance communication and cooperation between both nations’ private sectors. The MoU will also contribute to the development of mechanisms and measures for the establishment of joint investment projects.
The Qatar-Malaysia Economic Forum marks an important milestone in the development of economic, investment and trade cooperation between the two countries. During the forum, the Ministry of Economy and Commerce highlighted the advantages of investing in Qatar and how the Malaysian private sector can benefit from the incentives provided by the state to foreign investors. Participants also discussed the importance of developing long-term economic cooperation mechanisms, enabling Qatari companies to draw lessons from the success of their Malaysian counterparts.
The Minister of Economy and Commerce also attended the signing of several agreements between Qatar University and a number of Malaysian universities. Dr. Hassan Rashid Al-Derham, President of Qatar University, signed the agreements.
Malaysia ranks as Qatar’s 20th largest trade partner with a total of 3.3 billion Qatari riyals ($904 million) worth of traded goods in 2016, the equivalent of 2.85% of Qatar’s total trade exchange around the world