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Qatar Tribune
08-07-2025
- Business
- Qatar Tribune
Qatar advances to stage 6 in implementation of UNCITRAL Model Law on Electronic Transferable Records
DOHA: The International Chamber of Commerce Qatar (ICC Qatar) has announced the successful completion of Qatar's first draft law aligned with the UNCITRAL Model Law on Electronic Transferable Records (MLETR). This development marks Qatar's transition from Stage 2 to Stage 6 on the global MLETR adoption tracker, positioning the country at the forefront of digital trade modernization in the region. On this occasion, Chairman of the Qatar Chamber of Commerce and Industry and ICC Qatar HE Sheikh Khalifa bin Jassim bin Mohammed Al Thani stated: 'This achievement is a testament to Qatar's commitment to embracing innovation and positioning itself as a global leader in digital trade. By implementing MLETR, we are not only enhancing the competitiveness of Qatari businesses but also fostering an environment of legal clarity, efficiency, and trust across our trade ecosystem.' MLETR, developed by the United Nations Commission on International Trade Law (UNCITRAL), is a pioneering international legal framework that enables the legal use of electronic transferable records—digital equivalents of paper-based trade documents that are essential in domestic and cross-border commerce. These include bills of lading, promissory notes, warehouse receipts, and cheques, all of which facilitate the financing, shipping, and ownership of goods in international trade transactions. In a statement issued by the ICC Qatar, it said that under traditional legal systems, many of these documents are required by law or custom to be in paper form in order to demonstrate possession, authenticity, or negotiability. It further noted that MLETR resolves this issue by providing a set of technology-neutral rules that allow such documents to be issued and transferred in a purely digital format, while maintaining their functional equivalence with paper versions. The statement noted that the law outlines a set of key legal requirements for electronic records to ensure their uniqueness, control, integrity, and reliability. These requirements guarantee that only one official version of an electronic record exists at any given time—similar to an original paper document. They also enable verification of the identity of the rightful holder, ensure that the record's contents remain unaltered unless properly authorized, and confirm that the systems and mechanisms managing such records are both trustworthy and auditable. It also clarified that these provisions remove the legal ambiguity surrounding electronic trade documents and enable their recognition in courts and commercial transactions around the world. By aligning its national legislation with the Model Law on Electronic Transferable Records (MLETR), Qatar is establishing a strong legal foundation for electronic commerce, helping to reduce costs, accelerate procedures, and enhance transparency and compliance across global supply chains. The new draft law ensures that transferable electronic records carry the same legal effect, validity, and enforceability as their traditional paper-based counterparts. This brings strategic benefits to Qatar's economy and business environment, including the simplification of trade logistics and customs procedures, reduced risks of fraud and document tampering, greater alignment with global digital trade platforms, improved access to trade finance and digital banking services, and enhanced environmental sustainability through reduced paper usage. This legislative achievement is the result of a comprehensive national effort led by the Qatar MLETR Taskforce, an ICC Qatar initiative through its Customs & Trade Facilitation Commission. The taskforce brings together experts and decision-makers from government entities, financial institutions, legal professionals, and private sector leaders. The legislative draft was developed with technical assistance from UNCITRAL and the ICC Digital Standards Initiative (DSI), ensuring best-in-class international alignment. As part of the forthcoming phase, the draft legislation will be formally submitted to the relevant authorities and stakeholders in Qatar for thorough review, consultation, and subsequent approval through the appropriate legislative and regulatory channels. This step is essential to ensure alignment with national legal frameworks and to facilitate the effective implementation of the proposed measures. This initiative supports Qatar's broader ambition to become a regional hub for digital commerce, innovation, and regulatory leadership, contributing to the modernization of trade infrastructure and the seamless integration of Qatari businesses into the global digital economy.
The National
14-04-2025
- Business
- The National
Egypt pushes for greater Qatari role on Gaza during Sisi visit
Live updates: Follow the latest on Israel-Gaza Egypt has called for greater co-operation with Qatar in tackling the Gaza crisis and other regional challenges during a visit to the Gulf state by President Abdel Fattah El Sisi, during which he said Doha's role was critical. In a statement on Monday, a spokesman for Mr El Sisi said he and Qatar's Emir Sheikh Tamim bin Hamad Al Thani held extensive discussions on the second day of his trip. Monday's talks focused on co-ordinated efforts to deliver humanitarian aid to Gaza, halt the escalation in violence, and prevent a humanitarian catastrophe. Both leaders reaffirmed their unequivocal rejection of any forced displacement of Palestinians from their land, stressing the need to support the Arab plan for Gaza's reconstruction without uprooting the population. The spokesman also said the two leaders reiterated their commitment to pursuing a political solution that would lead to the establishment of an independent Palestinian state along the borders of June 4, 1967, with East Jerusalem as its capital. In a separate statement on Sunday evening, Egyptian Foreign Minister Badr Abdelatty said Egypt and Qatar, in co-ordination with international partners including the US, are working to halt attacks on civilians in Gaza and ensure the delivery of humanitarian aid. The current escalation in Israeli military operations will only worsen civilian suffering and destabilise the region further, he added. Current regional and international developments require continuing consultation between President El Sisi and Qatar's Emir, Egypt's Foreign Ministry said. The ministry also highlighted growing economic co-operation between Egypt and Qatar, saying both countries are leveraging their partnership to address shared priorities. Mr Abdelatty said Qatari investors had shown great interest in Egypt's economic reforms and progress building infrastructure, which were central topics during Mr El Sisi's meetings with Qatari officials and business leaders. The visit by Mr El Sisi to Doha, which began on Sunday as the first stop on a Gulf tour that will also include Kuwait, indicates strengthening ties after years of strained relations. It is Mr El Sisi's third visit to Qatar as president, following two trips in 2022 after the normalisation of relations through the 2021 Al Ula Declaration. Economic collaboration has been a central pillar of the latest visit. On Sunday evening, Mr El Sisi met with leading Qatari business figures, including Prime Minister and Minister of Foreign Affairs Sheikh Mohammed bin Abdulrahman Al Thani, along with representatives of major companies and the Qatar Chamber of Commerce and Industry. Mr El Sisi urged Qatari investors to expand their presence in Egypt and outlined opportunities in sectors such as renewable energy, manufacturing, tourism and high-tech industries, including artificial intelligence. Minister of Investment and Foreign Trade Hassan El Khatib, who accompanied Mr El Sisi to Doha, said Egypt has invested $550 billion over the past decade in infrastructure projects, including 7,000km of new roads, 24 cities, and seaports. He said the investments and reforms were intended to boost Egypt's exports to more than $145 billion by 2030 and place the country among the top 50 globally in trade indices within three years. Foreign Minister Mr Abdelatty said new investment projects and agreements between Egypt and Qatar would be announced soon. President El Sisi will next head to Kuwait.
Egypt Today
14-04-2025
- Business
- Egypt Today
Sisi invites Qatari investors to invest in Egypt, highlights 7 logistics hubs
EGYTrans Transport logistics cargo CAIRO - 14 April 2025: President Abdel Fattah El-Sisi met today in Doha with representatives of the Qatari business community, in the presence of Sheikh Mohammed bin Abdulrahman Al Thani, the Qatari Prime Minister and Minister of Foreign Affairs, Ali bin Ahmed Al Kuwari, the Qatari Minister of Finance, Abdullah bin Hamad Al Attiyah, the Qatari Minister of Municipality, Dr. Ahmed bin Mohammed Al Sayed, Minister of State for Foreign Trade Affairs at the Qatari Ministry of Commerce and Industry, and Sheikh Khalifa bin Jassim Al Thani, Chairman of the Qatar Chamber of Commerce and Industry, along with representatives from the Qatar Chamber of Commerce and Industry and the Qatari Businessmen Association, and broad participation from major companies operating in the Qatari market. The meeting witnessed an interactive dialogue between President El-Sisi and business leaders and representatives of major Qatari companies, focusing on ways to enhance trade and investment cooperation. President El-Sisi emphasized that the Egyptian economy had gone through difficult periods in recent years, but the state had taken the necessary reform measures. He affirmed that there were no longer any issues with transferring returns in hard currency outside of Egypt for any investor. He added that the relevant state agencies were working to reduce procedures related to issuing licenses for investors and were implementing the one-stop-shop and golden license concepts. President El-Sisi explained that the goal of increasing the number of tourists visiting Egypt annually from 16 to 30 million was achievable given Egypt's significant tourism potential. President El-Sisi pointed out that the state had already established seven logistics hubs to connect the Red and Mediterranean Seas, including related ports linked by a robust road network. He invited Qatari investors to visit these hubs, emphasizing that there was a golden opportunity for them to invest in Egypt's logistics sector. President El-Sisi added that the Egyptian state had prepared approximately 2 to 3 million acres for agricultural reclamation and was open to partnerships with investors, especially from Qatar, in this area. He also expressed Egypt's openness to partnering with Qatari investors in the automotive industry, particularly in electric vehicles, given Egypt's industrial infrastructure and large market.
Egypt Today
14-04-2025
- Business
- Egypt Today
Investment Min.: Egypt has invested $550 bln in infrastructure development over past 10 yrs
New administrative capital stadium of Egypt - wikimedia commons CAIRO - 14 April 2025: Egyptian President Abdel Fattah El-Sisi met Sunday in Doha, the Qatari capital, with representatives of the Qatari business community. The meeting was attended by Sheikh Mohammed bin Abdulrahman Al Thani, Prime Minister and Minister of Foreign Affairs of Qatar; Ali bin Ahmed Al Kuwari, Minister of Finance of Qatar; Abdullah bin Hamad Al Attiyah, Minister of Municipality and Urban Planning of Qatar; Dr. Ahmed bin Mohammed Al Sayed, Minister of State for Foreign Trade Affairs at the Ministry of Commerce and Industry of Qatar; and Sheikh Khalifa bin Jassim Al Thani, Chairman of the Board of Directors of the Qatar Chamber of Commerce and Industry. Representatives from the Qatar Chamber of Commerce and Industry and the Qatari Businessmen Association also attended, along with a wide range of representatives from major companies operating in the Qatari market. Egyptian Minister of Investment and Foreign Trade Engineer Hassan El Khatib presented a comprehensive overview of Egypt's efforts over the past ten years to develop its infrastructure, making it attractive to investment. Minister El-Khatib also noted that the state has invested approximately $550 billion in infrastructure development over the past ten years, including, but not limited to, the construction of 7,000 kilometers of roads, the establishment of new ports, and 24 new cities. He added that the current government is intensifying efforts to create an attractive investment climate, and more competitive at the regional and international levels. In this regard, it has adopted a monetary policy aimed at controlling inflation, achieving economic stability and enhancing growth, a fiscal policy aimed at: regulating and alleviating non-tax financial burdens and unifying the entities dealing with and collecting from investors; and a trade policy aimed at deepening and protecting local industry, maximizing the benefit from existing trade agreements, facilitating procedures and increasing exports to exceed $145 billion by 2030. It also aims to put Egypt to be among the top 50 countries in global trade indicators within 3 years and among the top 20 countries by 2030. He further stressed that the state is working to maximize the role of the private sector to restore its participation rate to 70 percent of the business volume, as well as the role of the sovereign fund, and seeks to eliminate preferential treatment in favor of state agencies in the investment and economic field.
Egypt Today
16-02-2025
- Business
- Egypt Today
Qatari Finance Minister highlights Egypt as prime candidate for investments among emerging economies
Cairo – February 16, 2025: According to Qatari Finance Minister Ali bin Ahmed Al Kuwari, Egypt is viewed as a prime candidate among emerging economies for investments within Qatar's investment strategy. He made this statement during the opening of the Al-Ula Conference for Emerging Market Economies, which kicked off in the Saudi city of Al-Ula on Sunday. Al Kuwari emphasized the considerable opportunities available in emerging markets, both on a global scale and within the region. He specifically pointed to Egypt, emphasizing its strong potential for investment. He also mentioned that other North African countries, such as Morocco, are also attractive options for investment. The finance minister stressed that Qatar's investment decisions are primarily driven by commercial considerations, explaining that the focus is on ensuring a return on investment, and that Qatar regularly reviews its investment strategies, making adjustments as needed. Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Kamel Al-Wazir, met with Qatari and Bahraini officials last week to discuss ways to enhance economic cooperation and attract more investment into Egypt's industrial and transport sectors. Al-Wazir also engaged with the Qatar Chamber of Commerce and Industry, where he encouraged Qatari investors to expand their presence in Egypt's industrial sector. He highlighted several opportunities for collaboration, such as establishing joint ventures with Egyptian manufacturers or setting up fully Qatari-owned factories. The strengthening of economic ties between Egypt and Qatar has been reflected in a significant agreement for $5 billion worth of investments and partnerships in Egypt, not including investments from the Qatar Investment Authority, with an estimated $3.317 billion set for resorts and tourism projects in Egypt. Trade between the two countries has increased notably, with the total volume of trade rising by 38 percent last year, reaching approximately QAR 746 million, up from QAR 540 million in 2023.
