DOHA: Iranian Energy Minister Abbas Aliabadi has revealed that trade between Iran and Qatar, currently valued at approximately $200 million, is set to increase to $1 billion annually in the near future. This announcement was made during the closing ceremony of the 10th Joint Commission on economic, social, cultural, and trade cooperation between the two nations, attended by Qatari Minister of Commerce and Industry Sheikh Faisal bin Thani bin Faisal Al Thani.
According to Islamic Republic News Agency, Aliabadi emphasized that the latest meeting of the joint commission will enhance bilateral relations across various sectors, including economic, trade, energy, and transportation. The Iranian minister expressed his country’s eagerness to attract Qatari investors to multiple Iranian industries, anticipating an annual investment of at least $1 billion by Qatari entities.
Aliabadi highlighted the importance of implementing agreements and policies set by the leaders of Iran and Qatar to foster regional cooperation
in diverse fields such as energy, transportation, tourism, culture, health, and banking. He also discussed a joint initiative to connect the power grids of both countries through a 200-kilometer underwater cable. The study for this project began in March 2023 and is nearing completion, promising significant advancements in power transfer during peak periods and facilitating electricity transit to other countries.
