BRUSSELS: Qatar-Belgium bilateral trade volume has hit nearly €1.3bn in 2015, and both the countries are working very closely to further deepen and strengthen the economic ties by expanding the areas of cooperation, said Christophe Payot (pictured), the Belgian Ambassador to Qatar.
“Last year we had over QR1.33bn (€320m) worth of exports to Qatar, witnessing a 56 percent jump compared to previous year, and we are hopeful to maintain that pace of growth this year,” Christophe told reporters.
He added: “Qatar’s exports to Belgium (in 2015) stood at about QR2bn, which is mainly from the exports of Liquefied Natural Gas (LNG) and products related to oil and gas sector.”
Belgium was the first country in Europe to buy Qatari gas under a long term contract for 20 years signed way back in 2006. The LNG receiving terminal in Belgium’s Zeebrugge area distributes Qatari gas to neighbouring countries, in addition to Belgium.
Christophe said that Belgium has diversified sources of LNG, but Qatar is an important supplier. He highlighted that when other European countries suffered supply problems after the Russia, Ukraine and EU tensions, Belgium did not have any problems, it was because of a good mix of suppliers from different regions.
The envoy speaking with reporters on the sidelines of the ‘Project Qatar 2016’, in which some 11 Belgian companies are participating (many of them for the six and seven years). He said that some of them are expected to sign partnership agreements with local companies on the sidelines of the event.
He also said that Belgium companies know well what Qatar needs, however, events such as Project Qatar help them understand more about the upcoming business opportunities and potential areas of cooperation. He noted that despite budget cuts, there are still a lot of opportunities in Qatar.
“We have a lot of SMEs catering to niche market, and we are confident that these companies are well positioned to meet Qatar’s needs, not only for the preparation of 2022 Fifa World Cup but also for the projects to be implemented as part of Qatar National Vision 2030,” he added.
“We are also preparing for the expected visit of the Minister of Economy and Commerce, HE Sheikh Ahmed bin Jassim Al Thani, to Belgium by the end of this month. That will help enhance the level of bilateral cooperation in a wide-range of fields, including technology, know-how, R&D, and establishing partnership in the field of sustainable development among others.”
The Qatari Minister’s visit to Belgium is expected to witness a line-up of official events, including B2B meetings with business leaders and top executives.
Currently there are over a dozen of Belgium companies active in a wide-range of business activities in Qatar, including construction, dredging, recycling, clean technology, water and waste management and other sectors. Some of the Belgium companies were associated in the implementation of many flagship projects, including Ras Laffan Refinery Complex, The Pearl Qatar, Hamad International Airport, Qatar National Convention Centre, Tornado Tower (in West Bay), and also the newly opened Doha Exhibition and Convention Centre. According to Christophe some Belgium companies are also working on Al Wakrah Stadium and Khalifa Stadium.
The size of the Belgian community in Qatar has also witnessed a sharp growth reaching over 700 from about 550 nearly a couple of years ago.
On Qatar’s investment in Belgium, the envoy said that it is “quite limited so far” but this is expected to be on the part of agenda of meetings during the Qatari Minister’s visit to Brussels, capital of the European Union.