Qatar and Malaysia Celebrate Near 80% Surge in Bilateral Trade
In a clear sign of strengthened economic ties, Qatar and Malaysia have reported a remarkable 80% growth in trade exchange between the two nations for the year 2024. This surge elevates the total value of bilateral trade to QR5.2 billion, up from QR2.9 billion in 2023, underscoring a dynamic and rapidly evolving partnership.
The announcement was made by Rashid bin Hamad Al Athba, Second Vice Chairman of the Qatar Chamber, during his participation in the ASEAN-GCC-China Economic Forum in Kuala Lumpur. The forum convened senior government officials, business leaders, and investors from across ASEAN, the Gulf Cooperation Council (GCC), and China to explore new avenues for economic cooperation and strategic investments in key sectors.
Al Athba emphasized the readiness of Qatar’s private sector to deepen collaboration with ASEAN countries, highlighting ASEAN’s strategic position on global trade routes and its role as one of the world’s fastest-growing economic regions, with a population of approximately 690 million. This vast market presents immense potential for Gulf investors seeking to expand their global footprint.
Bilateral meetings were held on the sidelines of the forum, where Qatar Chamber’s delegation engaged with regional leaders to boost economic ties. Meetings with Malaysia’s Deputy Minister of Investment, Trade and Industry, Liew Chin Tong, focused on deepening trade cooperation, enhancing mutual investments, and exploring opportunities in diverse sectors.
The forum also reaffirmed the commitment of the Qatar Chamber to advancing economic collaboration between Qatar, ASEAN countries, and China, while promoting Qatar as a leading hub for trade and investment in the region. The private sector in both countries is seen as a key driver of trade expansion, with business leaders encouraged to form alliances, leverage investment incentives, and explore the dynamic business environment offered by each nation.
This milestone marks a new chapter in Qatar-Malaysia relations, with both countries set to benefit from increased trade flows, joint investment projects, and closer economic integration.
Team V.3-UAE
