Visit of Bulgarian Delegation

15 Mar 2012 QBA Office

QBA Members attended

The chairman of Qatari Businessmen Association, Sheikh Faisal Bin Qassim Al Thani, met H.E. Mr. Nikolay Mladenov, Minister of Foreign Affairs, and H.E. Mr. Miroslav Zafirov, Chargé d'Affaires and Head of Mission in the Bulgarian State of Qatar, on Thursday, March 15, after the official visit of H.E.Mr. Boyko Borisov, Prime Minister of the Republic of Bulgaria and his accompanying delegation to Doha.

The Qatari side was headed by Sheikh Faisal Bin Qassim Al Thani, and the meeting was attended by the distinguished QBA members Mr. Ibrahim Al Jaidah, Mr. Ibrahim Al Neama, and Mr. Ashraf Abu Issa.

During the visit, Mr. Nikolay Mladenov informed QBA chairman and members about the results of the Bulgarian delegation to Qatar, where an amount of 100 million Euros were assigned to be invested in the three main sectors of Bulgarian economy, which include agriculture, tourism and infrastructure. In addition, a team of Qatari experts will visit Bulgaria within a month to study prospect investment areas pertaining to these sectors, as well as in energy field, to discuss potential cooperation prior to the visit of HE Prime Minister Sheikh Hamad bin Jassim Al Thani, to the Bulgarian capital Sofia. The Qatari government has also proposed to the Bulgarian delegation to hold an exhibition of Bulgarian products in Qatar, as the Bulgarian companies have the opportunity to compete with the both private and public sectors

Mr. Nikolay Mladenov invited Sheikh Faisal and QBA members to visit Bulgaria, and explained about Bulgarian investment incentives, which include the lowest tax rate in European countries, and an economy growth that currently depends on the service and tourism sector (64.2%), industry (30.6%) and agriculture (5.2% ). Moreover, he explained that the Bulgarian government is moving toward the development of high-end medical tourism sector.

On the other hand, Sheikh Faisal Bin Qassim Al Thani, expressed the importance of the official visit, since it will help in supporting the economic relations and investment opportunities between the two countries. Sheikh Faisal also confirmed the readiness of Qatari businessmen to support and identify investment opportunities available in Bulgaria.

It is worth mentioning that the value of trade between Qatar and Bulgaria has reached around 3 million USD in 2011.  The economic cooperation between the countries  are expected to increase after the opening of the direct line for Qatar Airways last year, and agreement on the exemption of visa for holders of diplomatic and special passports.  The two parties are also currently working on the visa requirements and procedures in order to facilitate the entry of more investors to Bulgaria.