Doha, May 12 (QNA) - Qatar Chamber signed on Monday five Memoranda of Understanding (MoUs) with the Hong Kong General Chamber of Commerce, the Federation of Hong Kong Industries, the Hong Kong Investment Authority, the Hong Kong Trade Development Council, and the Hong Kong Banking Association. Additionally, the Qatar International Center for Conciliation and Arbitration (QICCA) signed an MOU with the Hong Kong Bar Association. These agreements were signed during a meeting between Qatar Chamber and HE John Lee, Chief Executive of the Hong Kong Special Administrative Region of the People's Republic of China, who was accompanied by a high-level delegation comprising chairpersons and founders of leading private and public companies from Hong Kong and mainland China. The meeting was attended by HE Minister of Finance Ali bin Ahmed Al Kuwari; HE Chairman of Qatar Chamber Sheikh Khalifa bin Jassim Al-Thani; several members of the Chamber's Board of Directors; and a group of prominent Qatari businessmen. In his remarks, HE Chairman of Qatar Chamber Sheikh Khalifa bin Jassim Al-Thani praised the strong and steadily growing relationship between Qatar and Hong Kong, which is built on mutual trust, shared economic goals, and a joint commitment to creating new opportunities. He emphasized both sides' interest in deepening cooperation across various sectors, with a particular focus on the private sector-especially in trade, investment, finance, and smart industries. "Trade exchange between the two sides witnessed a remarkable 70 percent growth, reaching QR 2.2 billion in 2024, compared to QR 1.3 billion in 2023," he noted. He also highlighted Qatar's broader trade ties with China, stating that the total volume of trade between Qatar and the People's Republic of China exceeded QR 80 billion in 2024, of which QR 62 billion represented exports-primarily natural gas and refined oil products. HE Sheikh Khalifa commended Hong Kong's achievements over the decades, highlighting its position as one of the world's leading economic and financial centers, its long-standing history of innovation and smart services, and its role as a pivotal trade gateway with an open and dynamic economic environment. "This aligns with Qatar's future vision of building a diversified and sustainable economy founded on advanced knowledge and technology," he said. Qatar Chamber's Chairman emphasized the Chamber's commitment to strengthening cooperation with the business community in Hong Kong and exploring joint investment opportunities. He highlighted that Qatar offers a wide array of economic prospects across key sectors, including artificial intelligence, infrastructure, financial services, advanced technology, energy, smart industries, and high-quality modern services. He further noted that Qatar has enacted a series of reforms and initiatives aimed at enhancing its investment climate and fostering a stable, business-friendly environment. These include the establishment of an advanced regulatory framework, the development of strategically located free zones that offer streamlined market access, simplified procedures supported by world-class infrastructure, and a range of tax exemptions. For his part, Chairman of the Hong Kong Trade Development Council (HKTDC), Peter Lam, emphasized the growing trade and investment cooperation between Hong Kong and the State of Qatar. He noted that the event aimed at deepening trade and investment relations with Hong Kong's key partners, expressing his eagerness to showcase numerous commercial opportunities. Lam highlighted Hong Kong's position as an ideal business platform across various sectors, including both traditional industries and emerging fields such as sustainability and environmentally friendly technologies. He also underlined Hong Kong's strategic role as a gateway to the Chinese market and reaffirmed the HKTDC's commitment to strengthening trade relations with Qatar. Meanwhile, Qatar Chamber hosted a roundtable meeting with HE John Lee, which was attended by several members of the Chamber's Board Members. The meeting discussed ways to enhance bilateral cooperation, the investment climate, and opportunities for partnership, particularly in sectors such as financial and professional services, infrastructure and real estate, transportation and logistics, innovation and technology, manufacturing, and energy. HE QC chairman commended the signed MoU between Qatari and Hong Kong companies and institutions, indicating that the Qatari business community is keen to bolster relations with its counterpart from Hong Kong in various sectors such as technology and innovation, and others. QC board member Mohamed bin Ahmed Al Obaidli said that there are many promising sectors for cooperation between the private sectors on both sides, especially the financial and technological sectors. He highlighted that Qatar welcomes all investments from all world countries. During the meeting, presentations were delivered by Invest Qatar and Hong Kong General Chamber of Commerce. (QNA)