KEY CONCLUSIONS
Multifaceted partnership between Russia and Qatar is on the rise, trade is growing
“The multifaceted partnership and interaction between Russia and Qatar, which did not interrupt even during the pandemic, is on the rise today. We are satisfied with the pace of development of Russian-Qatari business relations gained over the recent years. One of the priority tasks remains to improve the quality and quantitative indicators in bilateral trade. In 2020, Russian-Qatari trade increased by 22%, and this is not the limit,” Yury Borisov, Deputy Chairman of the Government of the Russian Federation.
“Strategic partnership between Qatar and Russia is growing year after year. <…> Investment and economic relations between our countries continue to develop rapidly and have already achieved some serious results,” Leonid Slutskiy, Chairman of the Committee of the State Duma of the Federal Assembly of the Russian Federation on International Affairs.
“Relations [between Russia and Qatar] are becoming of a special nature, and they have a strategic direction,” Ali bin Ahmed Al Kuwari, Minister of Commerce and Industry of the State of Qatar.
“The Russian Union of Industrialists and Entrepreneurs and its member companies are expressing a particular interest in the development of cooperation. And it is not limited to traditional areas of cooperation, there are new promising areas. In particular, these are projects related to IT technologies, artificial intelligence, transport and railway projects, oil and gas transportation infrastructure, cooperation through financial institutions, the provision of R&D, planning and surveying, and engineering services in a number of industries, including power industry, training of highly qualified personnel in various fields, and pharmaceuticals,” Alexander Shokhin, President, Russian Union of Industrialists and Entrepreneurs (RSPP).
PROBLEMS
It is necessary to look for ways to restore national economies after the losses related to the coronavirus pandemic
“The new coronavirus infection has become a shock test for the entire world and led to record socio-economic losses. National economies and the international trade system as a whole have suffered significant damage. Unfortunately, our countries are no exception. In this regard, the need to improve the investment climate and create mutually comfortable conditions for the implementation of business projects becomes even more urgent,” Yury Borisov, Deputy Chairman of the Government of the Russian Federation.
“The state of the Russian economy and the dynamics of recovery after the crisis associated with the pandemic is an important prerequisite for maintaining and strengthening the investment interest of both our and foreign partners. Everyone knows that the Russian economy survived the crisis maybe even more successfully than we ourselves expected, and a little better than many other countries,” Alexander Shokhin, President, Russian Union of Industrialists and Entrepreneurs (RSPP).
SOLUTIONS
Strengthening of investment partnership between Russia and Qatar, including attracting small and medium-sized businesses
“We maintain relationships with Russian ministries in energy and oil industries. Cooperation needs to be strengthened to broaden this relationship. The first is e-commerce: it is necessary to monitor these relations, to develop and implement programmes at the level of small and medium-sized businesses. <…> It is necessary to boost trade and especially investment using our capacities. <...> To promote diverse bilateral relations, we welcome private businessmen from Russia and Qatar among the participants. We need to use all investment opportunities,” Ali bin Ahmed Al Kuwari, Minister of Commerce and Industry of the State of Qatar.
“I would like to note the advanced investment partnership between our countries. The Qatar Investment Authority is the third largest owner of Rosneft shares after Rosneftegaz and British Petroleum. In 2013, the Qatar Investment Authority took part in a VTB Bank's public offering, becoming one of the largest foreign shareholders of this Russian bank. Cooperation with the Russian Direct Investment Fund is successfully developing as part of a joint investment platform. In particular, we signed agreements on entering equity capital of Magnit and Lenta retail chains, Pulkovo Airport, Alrosa and the PhosAgro group, as well as financing the construction of the Central Ring Road and many other projects,” Yury Borisov, Deputy Chairman of the Government of the Russian Federation.
“The mechanism related to the predictability of investment and business climate in the country is important. Thanks to the activity of our union and the companies–members of RSPP, we were able, together with the government, to work out a number of mechanisms that ensure this stability and predictability of the investment and business regime. In particular, I would like to mention agreements on the protection and encouragement of investment, mechanisms that are now also being transformed. These are special investment contracts, this is the second version of these special investment contracts, which, in addition to stabilization clauses, also state the need for high-tech solutions in investment projects,” Alexander Shokhin, President, Russian Union of Industrialists and Entrepreneurs (RSPP).
Signing of strategic agreements
“We were present at the exchange of memorandums between Russian and Qatari institutions, companies, banks, and agencies that have already signed the most important documents on cooperation. I am certain that these documents will be filled with serious content in the upcoming months and will develop into multimillion-dollar projects that will become significant for national economies of our countries,” Leonid Slutskiy, Chairman of the Committee of the State Duma of the Federal Assembly of the Russian Federation on International Affairs.
“We believe that we must strengthen our relations and increase the competitiveness of our economies through participation in the economies of other countries,” Ali bin Ahmed Al Kuwari, Minister of Commerce and Industry of the State of Qatar.
“There is a great potential for the development of cooperation between Russia and Qatar; there are good prospects and resources for growth. This is confirmed by the memorandums and agreements signed both yesterday and today. Today we signed a memorandum between the Russian Union of Industrialists and Entrepreneurs and the Qatari Businessmen Association. It aims to initiate a regular and productive dialogue between the business communities of our countries. I hope that this document will lay foundation for practical steps in the fields of investment, trade, scientific and technological cooperation,” Alexander Shokhin, President, Russian Union of Industrialists and Entrepreneurs (RSPP).
“We have created an integrational company for national development, organization of free zones, this is an international organization, an area. There we have our own laws, we have our own instructions to facilitate the activities of international business, so that both local and foreign investors come to us on the principles of partnership. <…> We invite Russian companies,” Ahmad Bin Mohammed Al-Sayed, Minister of State, Chairman, Qatar Free Zones Authority.
For more information, visit the ROSCONGRESS.ORG Information and Analytical System.
