Qatar May Invest Over $9Bln Into Russian Economy - Russian Ambassador

Qatar may pour over $9 billion into the Russia's infrastructure, agricultural, and oil and gas projects, among others, Russian Ambassador to Doha Nurmakhamad Kholov said in an interview with Sputni

DOHA (UrduPoint News / Sputnik - 19th March, 2019) Qatar may pour over $9 billion into the Russia's infrastructure, agricultural, and oil and gas projects, among others, Russian Ambassador to Doha Nurmakhamad Kholov said in an interview with Sputnik.

"Cooperation between the Russian Direct Investment Fund and the Qatar Investment Authority is being developed within a common financial and economical platform. The Russian economy has already attracted $2.5 billion in investments. Projects on infrastructure construction, agriculture, medicine, real estate, and oil and gas are under consideration, with their total cost exceeding $9 billion," Kholov said.

The diplomat added that Qatar's desire to boost investment into the Russian economy could promote bilateral trade growth.

"Russian-Qatari trade was $73.3 million in 2017, while in 2018 it surged 7.4 percent to $78.7 million. Over the past two years, import from Qatar to Russia has increased significantly from $7.1 million to $36.4 million mostly due to purchases of oil products and chemical industry products," Kholov added.

He said that he expected Russian-Qatari trade to reach $500 million by 2020.