selected business news
"Qatar, Saudi Arabia look at Joint Venture Bank"
Posted February 11, 2010 by Dana Al-Ebrahim
By: Mobin Pandit & Mohammed Saeed, The Peninsula
As a part of a recent Qatari trade delegation’s visit to Saudi Arabia, the two countries are planning to conduct a feasibility study on a joint venture bank to finance joint venture projects between Qatari and Saudi businesspeople. During the visit, six joint committees were established, one of which relating to banking will conduct the feasibility study. The trade delegation also established a joint Qatari-Saudi businesswomen’s committee to promote the role of women in trade and industry throughout the region, as well as within the decision-making process. This visit, sponsored by the Qatar Chamber of Commerce and Industry, also urged Saudi Arabia to liberalize its export of construction materials; simplify existing procedures for issuing entry and transit visas to lorry drivers from Qatar; and mutually agreed to the creation of a joint firm to hold exhibitions in the two countries as well as a keen focus on SMEs exploring joint venture industrial projects.
