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Qatar-Canada trade volume rises by 35% to $249.7m

By February 27, 2020 No Comments

FROM LEFT: Jacob Burke, Chairman of the Canadian Business Council Qatar and Managing Director of The Look Company; Maher Doleh, Counsellor (Commercial) at the Canadian Embassy in Qatar; Stefanie McCollum, Ambassador of Canada to the State of Qatar; and Ahmed Hafez, Vice-Chairman of the Canadian Business Council Qatar and Business Director at Refinitiv Qatar during the Qatar Total Open 2020 in Doha recently.

 

Total trade volume between Qatar and Canada has increased by 35 percent to $249.7m (CAD$331.7m) in 2019 compared to 2018, making Qatar the third largest trading partner for Canada in the region, which is an important milestone for Canada-Qatar trade relations, the Canadian Embassy in Qatar has announced.

Canada’s Ambassador to Qatar Stefanie McCollum welcomed the latest trade statistics with executives from the Canadian Business Council Qatar (CBCQ) at the Qatar Total Open 2020, where the CBCQ is hosting a week-long schedule of private events with members and local stakeholders at the tournament.

“I am very pleased by the 2019 numbers. The increase in trade between Canada and Qatar is a direct result of the commitment of both countries to strengthen commercial ties and to bring innovative and world-class products and services to Qatar. Canada has the expertise and the capacity to continue playing an important role in supporting Qatar’s National Vision 2030, the 2022 FIFA World Cup, and its drive for self sufficiency in many sectors”, the Ambassador said during the discussions.

Jacob Burke, CBCQ Chairman and Managing Director of The Look Company, the official Branding Partner of the Qatar Total Open 2020, said: “It is encouraging to see this level of growth and we are keen at CBCQ to open new opportunities to enhance bilateral relations between the two countries at all levels.”

Canadian exports to Qatar increased by 69 percent to $200m (CAD$266m) in 2019 from $118.5m (CAD$157.4m) in 2018. Qatari exports to Canada witnessed a slight decrease in 2018, reaching $49.4m (CAD$65.7m) compared to $66m (CAD$89m) the previous year.

While Canada’s Embassy in Qatar opened in 2012, Canada and Qatar have enjoyed uninterrupted diplomatic relations since 1974. Qatar is a key partner for Canada in the Gulf region. Both countries share friendly bilateral relations and have strong trade and investment ties. More than 9,000 Canadian expatriates live and prosper in Qatar, working within Canadian and Qatari companies and institutions. This dynamic expatriate community is very active in Qatar and helps advance mutual interests between both countries. Qatar Airways offers direct flights between Montréal and Doha four times per week.

The Canadian Business Council Qatar, which supports trade and commerce between Canada and Qatar, is a flourishing, socially active organisation representing a broad membership base across all industry sectors. CBCQ is made up of a diverse group of business people representing Canadian and Qatari companies. CBCQ proactively bridges the Canadian and Qatari businesses and collaborate to keep them dynamically interactive and prosperous.