Qatar participates in the 8th Belt and Road Summit in Hong Kong

September 17, 2023

The State of Qatar participated in the 8th Belt and Road Summit, held in Hong Kong under the theme: “Prospering on a Decade of Collaboration”.

Mr. Saleh bin Majid Al-Khulaifi, Assistant Undersecretary for Industry and Business Development Affairs at the Ministry of Commerce and Industry participated in the inaugural ceremony, which brought together His Excellency Mr. John Lee, Chief Executive of the Hong Kong Special Administrative Region along with several senior government officials and high-level representatives of several countries and international organizations.

Mr. Saleh bin Majid Al-Khulaifi attended several sessions organized during the summit, in addition to participating in a business Session on the Middle East titled: “Business and Investment Outlook in the Middle East Market”.

On this occasion, Mr. Al-Khulaifi affirmed that Qatar’s participation in the Belt and Road Summit reflects its deep belief in the multilateral trade system and the necessity to strengthen cooperation with different countries around the world, especially Hong Kong, which is one of Qatar’s foremost trading partners, with bilateral trade of $1.1 billion in 2021, representing an average annual growth of 35% compared to 2017.

He praised the close historical ties between the State of Qatar and the People’s Republic of China, pointing out that China comes at the forefront of Qatar’s trading partners, as the largest source of imports and destination for Qatari exports. The value of bilateral trade between the two nations amounted to 26 billion U.S. dollars in 2022.

The session also showcased the advantages of the Qatari business environment and the various laws, legislations, initiatives, and programs enacted to stimulate foreign investment.

During the summit, several meetings were held with high-level figures from the government and private sectors participating in the event.

This year’s edition of the Belt and Road Summit coincided with the 10th anniversary of the initiative’s launch, which aims to establish a trade network and infrastructure connecting Asia, Europe, and Africa, to foster common development and prosperity.

This event drew 6,000 representatives from involved countries and regions, including senior officials from more than 10 countries and business leaders from around the world. The Summit showcased the progress achieved by the Belt and Road Initiative since its launch in 2013, and future investment prospects.