The regional economic integration agenda of the Association of South East Asian Nations (Asean) will provide opportunities for investment and trade with Qatar, apart from the bilateral initiatives being pursued by each Asean member-state, the chairman of the Asean Community in Doha (ADC) said.
Philippine ambassador Wilfredo Santos, who assumed the ACD chairmanship on August 8, said “even without the intervention of the ACD,” each Asean member-state in Qatar is “working hard” to increase its bilateral exchanges with Qatar.
The regional economic integration agenda, according to the Asean Economic Community (AEC), offers opportunities worth $2.6tn, backed by a population of over 622mn.
In March, former ACD chairman, Singapore ambassador Wong Kwok Pun, said the total value of Asean trade for 2013-2014 was $2.5tn as of December 2015. This, he noted, increased by $1tn between 2007 and 2014.
Pun said foreign direct investments into Asean totalled $136bn, and reached $24bn among Asean nations. From 2000 to 2014, Pun stressed that two-way trade between Qatar and Asean “has grown more than 60 times.”
According to Santos, the ACD is hoping to organise more events aimed at strengthening economic and trade relations between Asean and Qatar, citing the joint-business forum with Qatar Chamber held in March.
During the forum, Qatar Chamber vice-chairman Mohamed bin Towar al-Kuwari said gas exported to Asean countries comprises 50% of Qatar’s total exports, which he expects to grow due to “increasing demand” from Asean countries.
But aside from the energy sector, al-Kuwari stressed that Qatar is “very keen” to expand its relationship with Asean across all economic sectors. He also noted that the Qatari business community wants to explore opportunities in Asean markets, particularly in the construction, energy, and tourism sectors.
The Qatar Chamber officials also encouraged Asean countries to participate in Qatar’s major projects, such as infrastructure projects in preparation of the country’s hosting of the FIFA World Cup in 2022.
Santos told Gulf Times that the ACD, as a group, and each Asean member-state “would want to spur more join cooperation projects with Qatar for the economic benefit of both parties.”
Excluding bilateral initiatives, Santos said any project to be explored between Qatar and the Asean will need proper consultations with the respective capitals of each country and the Asean secretariat in Jakarta, Indonesia.
“Any co-operation project with Qatar will also have to be coursed through the GCC hence, this also creates the opportunity for Asean and the GCC to further its relations, which was first established in 1990.
“This was the time when the Foreign Minister of Oman, in his capacity as chairman of the Council of Ministers of the GCC, expressed the desire of the GCC to establish formal relations with Asean,” Santos said.