Doha, Qatar–The Qatar Development Bank’s Export Development and Promotion Agency (Tasdeer), a subsidiary of the Qatar Development Bank, announced an increase in Qatari exports to its clients by over $412 million during 2023.
In a statement released today, the agency highlighted its participation in eight international exhibitions over the past year, engaging 260 Qatari exporters who participated in trade missions to several countries, alongside more than 130 Qatari companies. This collective effort contributed to the increase in Qatari exports to clients, surpassing $412 million, indicating consistent growth in export volume year after year.
The Export Development Agency emphasized its dedication throughout the year to supporting Qatari exporters in exploring international markets, promoting their products, developing their current exports, and securing them from risks during export operations. These efforts aimed to enrich the entrepreneurial ecosystem and Qatar’s corporate landscape.
Throughout the mentioned year, the agency pursued various initiatives aimed at accelerating Qatari export growth and enhancing the culture of entering global markets by supporting entrepreneurs and companies.
This support included participation in international exhibitions and trade missions, providing financial resources, insurance policies to support Qatari exports, and organizing workshops and training sessions to refine their skills.
The agency highlighted organizing more than 10 workshops diversifying topics from operational excellence in supply chains, global trade trends, mindset required for global reach, available opportunities in African markets, among others. Additionally, close to 100 training sessions were provided to over 400 beneficiaries, consisting of entrepreneurs and business leaders.
The year 2023 witnessed several trade missions by Qatari companies to various regional and international markets. Notably, Qatari companies participating in the trade mission to Iraq generated initial deals worth approximately $57.41million, while those involved in the India trade mission sealed trade deals valued at $31.31 million.
Moreover, a Qatari delegation participating in the trade mission to Morocco continued the trajectory of developing bilateral trade relations between the two countries.
Furthermore, in collaboration with the Ministry of Commerce and Industry, Tasdeer organized a trade mission to Hungary involving 17 Qatari companies. This aimed to bolster bilateral relations between the two countries, understand the Hungarian market, conduct field visits, and enhance joint commercial activities. Similar efforts were made to strengthen bilateral relations with Egypt through a trade mission involving Qatari companies to explore potential opportunities in the Egyptian market.
Continuing with international exhibitions, Qatari companies participated in events in India, Kuwait, Saudi Arabia, Turkey, Egypt, Indonesia, among others.
Tasdeer also focused on export finance support, including invoice discounting, documentary credits, and pre-export financing, with credit facilities reaching $195.32 million in export financing.
The Chief Executive Officer of Qatar Development Bank Abdulrahman bin Hesham Al Sowaidi, expressed pride in the successful journey with Qatari exporters across diverse markets, emphasizing the agency’s commitment to developing and enhancing its programs and services to meet the needs and aspirations of Qatari exporters, aiming for continued success and achieving set goals.
Consequently, Tasdeer continued its journey in supporting Qatari exporters, assisting them in expanding their exports into new markets. This year, 15 new exporters were empowered through the Go Global program aimed at accelerating exports.
Additionally, the agency provided the International Product Certification to over 23 participants, aiding them in meeting international accreditation standards by testing production lines according to international market standards.
These initiatives align with the agency’s commitment to supporting national products and realizing Qatar’s national vision for developing the entrepreneurial system, ultimately aiming for prosperity and progress.
Established in 1997, Qatar Development Bank aims primarily to enhance industrial development and drive economic diversification in the private sector.
Over the past two decades, Qatar Development Bank has achieved numerous successes, becoming the primary supporting arm for the private sector in Qatar and a strong catalyst for social and economic development through three pillars: access to finance, access to markets, and capacity development.