DUBAI, 12 December – Bilateral trade and investments are set to see strong growth between the UAE and Qatar following the visit of President His Highness Sheikh Mohamed bin Zayed Al Nahyan.
Analysts see growing ties will result in dual listings of the companies, too, as the initial public offering (IPO) pipeline looks strong in the UAE.
The UAE President paid a visit to Qatar last week in response to an invitation extended by the Emir of Qatar, Sheikh Tamim bin Hamad Al-Thani.
The two countries have hosted two major global events this year, Expo 2020 Dubai and Fifa World Cup, which will result in an increase in foreign investments into the two Gulf countries.
Daniel Takieddine, CEO, Mena BDSwiss, the growing ties will bring more prosperity to the region as a whole.
“A closer relationship could effectively benefit local economies to a great extent in particular as events like Dubai Expo 2020 and the world cup put a spotlight on the region,” he said, adding that growing relations would pave way for large investment projects in both countries, as well as potential companies’ dual listings in the respective stock markets as the IPO scene continues to boom, particularly in the UAE.
Ravi Krishnan, general manager at business consultancy Ascent Partners, said the UAE’s president’s visit underscores the strengthening economic and trade relations between the two countries.
“The UAE and Qatar enjoy favourable market conditions in their own right, evidenced by positive investment flows. The philosophy of shared prosperity, espoused by the leadership of both countries, implies that Qatari companies will continue to explore commercial opportunities in the UAE and vice versa,” he said.
Hatem El Safty, CEO of Business Link, said the President’s visit is a crucial and positive step towards regional integration, as both countries stand on a level platform for one of the biggest global events (Fifa World Cup).
“This paves the way, not only for Qatar but the UAE, to consolidate the ties between the nations and incentivise economic activities and enhance growth and new possibilities,” he said.
Ata Shobeiry, chief executive of Zoom Property, said the president’s visit to Qatar is a positive sign as it sends across a message of GCC solidarity.
“This visit certainly holds great importance, particularly due to the fact that there was political tension among these regions. Things, however, look better now and this visit by the President may pave the way for bilateral trade between the UAE and Qatar and a better GCC economy,” he said. — Khaleej Times