His Excellency Yoon Suk Yeol, President of The Republic of Korea, and His Excellency Sheikh Mohammed bin Hamad bin Qassim Al-Thani, Minister of Commerce and Industry, inaugurated the Qatar-Korea Business Forum, which is held in Doha to showcase the investment opportunities available in both countries and discuss ways to enhance bilateral economic cooperation.

The inauguration was also attended by His Excellency Bang Moon-Kyu, Minister of Trade, Industry and Energy of the Republic of Korea, the heads of the Chambers of Commerce, and the associations of businessmen, investors, and representatives of Qatari and Korean companies working in various fields.

In his opening remarks, H.E. The Minister of Commerce and Industry affirmed that Qatar and Korea enjoy a close relationship that was made stronger by the numerous official visits and the shared vision of the two countries to diversify and broaden their strategic partnership, to build a sustainable and prosperous future for the two peoples. He mentioned that this relationship was further enhanced by the signing of several bilateral agreements and MOUs, covering various sectors.

H.E. added that the Qatar-Korea Business Forum represents an important opportunity to build on the positive results achieved in the previous edition, held in Seoul last June, on the sidelines of the 6^th Session of the Qatari-Korean Joint Higher Strategic Committee, whose outcomes contributed to enhancing bilateral cooperation between the two nations.

H.E. noted that the trade volume between Qatar and Korea reflects the strength of the economic ties and its prospects and that the Republic of Korea is Qatar’s 3^rd largest trading partner. H.E. stressed the fact that Qatar succeeded during the recent years in diversifying its economy, by supporting its non-carbon sectors and encouraging investment in the industrial sector, due to its vital role in the economic transformation of the country. He added that FIFA World Cup Qatar 2022 has cemented the nation’s position as a leading commercial and investment center in the region, calling on Korean businessmen to benefit from the favorable economic and investment environment provided by Qatar to foreign investments.

H.E. also pointed out the incentives encouraging businessmen and companies to invest in Qatar, the legislation allowing 100% foreign ownership in various sectors, including real estate, and the advanced services and benefits provided by the free zones to investors and companies, in addition to Qatar’s strategic location, its modern infrastructure and logistical capabilities, allowing the business sectors in both countries to establish new partnerships in certain vital sectors such as light manufacturing, metallurgy, pharmaceuticals, agro manufacturing and technology to meet the needs of the Qatari market and tap into new markets in the region and around the world.