Qatar and Croatia trade is on an upward trajectory and is poised to further grow in the coming years as both countries are keen to explore opportunities to boost bilateral trade.
Speaking during an interview with The Peninsula yesterday Croatia Business Council (CBC) President Mario Lozancic (pictured) said trade between Croatia and Qatar has been quite satisfactory and added that there is immense potential for further growth as the two countries are keen to seek new opportunities to enhance trade and investments.
Trade between Qatar and Croatia has been growing over the years since both countries commenced diplomatic relations in the early 1990’s although the trade balance has been in favour of Croatia.
Diplomatic ties between the two countries began in 1992 after which several agreements were inked in the economic sphere commencing with the promotion and protection of investments which came into force in 2001 followed by a memorandum of understanding in the field of tourism cooperation in 2010 and an economic cooperationagreement in 2009.
“CBC is confident trade between Croatia and Qatar will grow has both countries understand each other well being close friends for over three decades,” Lozancic said. According to Croatia government office statistics for the first five months of 2021 imports from Qatar to Croatia had been €0.931m while exports from Croatia had been €9.368m.
“The market size of Qatar suits well for Croatian trade which could cater only to smaller markets,” the CBC President said.
Meanwhile a Croatia business delegation is expected in Qatar mid this year.
“The delegation is expected to be here hopefully before summer where both countries would seek the cooperation of each other in entering into new areas of trade and services,” Lozancic said.
The Croatia Business Council President acknowledge Qatar’s growing IT industry and the potential for both countries to boost trade in the sector.
“ Qatar has a strong IT sector which is getting stronger by the year. Croatia is too recognised in the world for IT development which makes it all the more easy for both countries to benefit,” he said.
Both countries will also be looking at exploring opportunities to promote tourism by which Qatar expects to attract around five million visitors to the country this year. The state has embarked on a mega infrastructure development plan such as the expansion of the airports which will augur well for its tourism industry.
“Croatia is a lovely place to visit and each year new locations are being discovered and promoted,” Lozancic said considering that Croatia is inside Schengen borders and with Euro as country currency makes Croatia more attractive and safer for investments and tourist visits. The Croatia community in Qatar comprises around 400 Croatians operating around four companies. The Croatian population is around four million.
