Qatar – New agreement to boost investment

Investment between Australia and Qatar is set to increase following an agreement signed between the Qatar Chamber/Qatar International Center for Conciliation and Arbitration (QICCA) and the Australian Centre for International Commercial Arbitration (ACICA).

ACICA President and Clayton Utz Head of Major Projects and International Arbitration, ProfessorDoug Jones AO, said,“The agreement recognises the demand in the Gulf Region to opt for costeffective legally binding resolution of disputes which may arise in cross border transactions.”

To capitalise on the business opportunities with Australia, Doha Bank has opened up an office in Sydney, making it the first time a bank from the GCC has established its presence in Australia. The agreement was faciliated and supported by the New South Wales Government and comes just weeks ahead the 8th Congress of Chambers which will be hosted in Qatar.

President of the Committee and Board Member of the Qatar Chamber, HE Abdulrahman Abduljaleel Abdulghani said,“The agreement will provide Australian and Qatari trade entities a risk minimisation strategy to ensure major projects are completed in a timely fashion, thus protecting and growing investments in both countries.”

This partnership has been welcomed by multinational within the country as it comes at a time when the region is experiencing development and expansion in preparation for Qatar 2022.

To capitalise on the business opportunities with Australia, Doha Bank has opened up an office in Sydney, making it the first time a bank from the GCC has established its presence in Australia.