Five New Business Agreements Signed Between Saudi and Qatari Companies

Trade between Qatar and Saudi Arabia has tripled compared with its 2022 level, while cross-border investments cited by the Qatari-Saudi Joint Business Council have reached a combined SAR18 billion ($4.8 billion). Companies from the two countries are seeking to deepen commercial ties and capture opportunities from major development projects. Qatari investments in Saudi Arabia have reached around SAR12 billion, while Saudi investments in Qatar stand at approximately SAR6 billion, according to Hamad bin Ali Al Shuwaier, Chairman of the Saudi side of the Joint Business Council, during a recent meeting in Doha. The meeting concluded with the signing of five new agreements between Qatari and Saudi companies, spanning furniture, medical supplies, real estate brokerage, advertising and promotion, exhibitions, and international investment. Al Shuwaier stated that the council’s initiatives had contributed to tangible economic results, including a threefold increase in bilateral trade compared with 2022. He also noted that more than 10 joint agreements had been signed during the council’s previous work and that efforts by the two sides had helped address 80 percent of the identified challenges affecting trade and investment growth. The latest figures indicate a substantial expansion in commercial relations between the two Gulf economies as both countries pursue diversification strategies under Qatar National Vision 2030 and Saudi Vision 2030. Qatar Chamber previously reported that bilateral trade had risen from SAR2.5 billion in 2021 to SAR5.5 billion in 2024, while Qatari direct investment in Saudi Arabia increased from SAR9.9 billion to SAR11.5 billion over the same period. The investment figures disclosed at the latest meeting put the combined stock cited by the council at approximately SAR18 billion. Qatari investment accounts for around SAR12 billion of that amount, while Saudi investors hold approximately SAR6 billion in Qatar. The council is seeking to expand those flows by facilitating company establishment across the border, promoting mutual investment, and identifying sectors where businesses can form new partnerships. Participants also discussed government investment initiatives offered through public-private partnerships, alongside ways for Qatari and Saudi companies to cooperate on projects outside their domestic markets. One of the more practical proposals discussed was the establishment of a fast-track mechanism for challenges facing Qatari and Saudi investors. The proposal is intended to accelerate efforts to identify and resolve regulatory, commercial, or operational obstacles affecting companies investing across the two markets. The council has already created a follow-up structure for this purpose. Its Follow-Up Committee held its first meeting in Riyadh in January, reviewing issues including customs tariffs on Qatari products, temporary entry procedures for equipment and vehicles from Qatar, and the role of Hamad Port for Saudi traders. The committee also discussed a proposal to establish a joint investment company to support economic integration between the two countries. The September meeting produced five business agreements between companies from Qatar and Saudi Arabia. The agreements cover sectors including furniture, medical supplies, real estate brokerage, advertising and promotion, exhibitions, and international investment. QNA did not disclose the names of the companies involved, the value of the agreements, or whether the deals represented binding commercial contracts, partnerships, or other arrangements. That makes the number and sector coverage of the agreements the strongest confirmed details currently available. Saudi Arabia’s major upcoming projects are expected to provide another source of opportunities for companies from both countries. Sheikh Khalifa bin Jassim bin Mohammed Al Thani, Chairman of Qatar Chamber and the Qatari side of the council, highlighted Expo 2030 Riyadh and the 2034 FIFA World Cup as two major catalysts for private-sector cooperation.