Gems & Jewellery, pharmaceuticals, MSMEs and food processing identified as potential sectors for cooperation

An Indian delegation comprising of officers from Department of Commerce and other Ministries and organizations held a Joint Working Group (JWG) meeting with Qatari side in Doha on 10th July, 2024.

Both sides also reviewed the progress of ongoing discussions for Memorandum of Understanding (MoUs) on Food Safety and Cooperation in exchange of pre-arrival information for facilitation of trade and customs control on goods and agreed to conclude them expeditiously. Both sides agreed to expeditiously address all issues impeding bilateral trade and facilitate trade promotion between the two countries.

Both sides discussed the possible mechanism to activate the Joint Business Council to carry out its assigned role in following up and implementing the private sector’s visions and proposals for trade and investment cooperation.

Both sides undertook a detailed review of recent developments in bilateral trade and economic cooperation and noted that the relationship has a huge potential to be scaled up even further. To this effect, both sides identified several areas of focus for enhancing both bilateral trade as well as mutually beneficial cooperation sectors. These include Gems and Jewellery, cooperation between customs authorities, trade in local currency, pharmaceuticals, food processing and food security, cooperation in MSME, etc.

The JWG meeting was co-chaired by Economic Advisor, Department of Commerce, Ministry of Commerce and Industry, Government of India, Ms. Priya P. Nair and Director of International Cooperation and Trade Agreements at the Ministry of Commerce and Industry, Government of the State of Qatar, Mr. Saleh Al-Mana.

Bilateral trade between India and Qatar stood at USD 14.08 billion in 2023-24. India is the second largest trading partner to Qatar. Both sides agreed to hold the next meeting of the JWG in 2025, in New Delhi. The deliberations of the first session of India-Qatar JWG were cordial and forward-looking, reflecting the friendly and special relations between the two countries.

Trade cooperation advanced through MoUs, customs coordination and sectoral collaboration to facilitate bilateral commerce. India and Qatar agreed to finalise Memoranda of Understanding on food safety and exchange of pre-arrival information to enhance trade facilitation and customs control, to expeditiously remove impediments to bilateral trade, and to activate the Joint Business Council to implement private-sector proposals. The JWG identified priority cooperation sectors-gems and jewellery, pharmaceuticals, food processing and security, MSME collaboration, customs cooperation, and trade in local currency-and scheduled continued engagement with the next meeting in 2025.