visit the Bulgarian Delegation to the Association

14 Mar 2012 َQBA Office

QBA Members attended

The chairman of Qatari Businessmen Association, HE Sheikh Faisal Bin Qassem Al Thani, met HE Mr. Miroslav Zafirov, Charge d'Affaires and Head of Mission at the Embassy of the Republic of Bulgaria in Qatar, on Thursday March 8, 2012. During the meeting, HE Zafirov invited Sheikh Faisal and members of the Association to attend the official opening of the Qatari – Bulgarian Forum on March 14th at the Four Seasons Hotel, along with the forum’s workshops which will be held in Movenpick Hotel during the period March 14 to 15.

The conference aims to identify to the Bulgarian companies the investment opportunities in the Qatari market in the aim of participating in projects related to hosting the World Cup 2022. On the other hand, the forum serves also in defining to the Qatari companies the investment opportunities available in Bulgaria, in order to increase the partnership and trade cooperation between the two countries, and the establishment of the Qatari companies in Bulgaria. This is clearly pictured through the focus of Bulgarian government on building a dynamic and vibrant economy, particularly by providing a fit work environment that encourages entrepreneurship, investment and economic growth, with the introduction of investment and new tax regulations to make Bulgaria an attractive investment destination. Furthermore the opening of Qatar Airways direct flight, from Doha to the Bulgarian capital Sofia last September, contributed actively in the easier transportation of businessmen and promoted tourism cooperation between the two countries. After this important event, the Bulgarian Foreign Minister Nikolay Mladenov visited the State of Qatar in October 2011, during which he has noted that the Republic of Bulgaria is seeking to facilitate the flow of investments from Qatar, and has signed several joint agreements, most notably the exemption of visa for diplomatic passports and special.

HE Mr. Miroslav Zafirov noted that the Forum coincides with the official visit of His Excellency Mr. Boyko Borissov, Prime Minister of the Republic of Bulgaria, to the State of Qatar. The forum will bring together business leaders and representatives of most major Bulgarian companies, and more than a hundred of the Director of the Bulgarian economic sectors

On the other hand, Sheikh Faisal Bin Qassem Al Thani welcomed the invitation to the forum’s opening and expressed the importance of this event, which is useful in supporting the economic relations and the creation of investment opportunities between the two countries. He also confirmed the readiness of Qatari businessmen to identify investment opportunities available in Bulgaria.

It is worth mentioning that the value of trade exchange between the two countries has exceeded 35 million QR per year, with imports from Bulgaria, which include milk and dairy products, meat and wood. In addition, the mutual official visits have contributed highly to the progress of bilateral cooperation between the two countries, and the signing of more than 11 cooperation agreement in the field of tourism and sports, and aviation services, and the avoidance of double taxation services. Moreover, Qatar Investment Authority has contributed $ 500 million in 2011 to create a Qatari - Bulgarian company targeting agriculture, which accounts for 7.1% of the Bulgarian economy, real estate, tourism, and services sector, where it occupies 57.7%, the bulk of the Bulgarian economy.