Qatar Development Bank Opens First Regional Office in Saudi Arabia to Boost Trade Ties

Qatar Development Bank (QDB) has announced the opening of its first regional office, “Qatar Exports,” in the Kingdom of Saudi Arabia during the first quarter of this year. The move aims to strengthen economic cooperation between the two nations and create new opportunities for trade partnerships between Qatari and Saudi businesses.
Abdulrahman Al-Sowaidi, CEO of QDB, expressed gratitude to the Saudi government for its warm reception and highlighted the strong bilateral ties. He noted that the initiative aligns with a shared vision to deepen economic collaboration, as demonstrated by the participation of over 60 Qatari companies in a recent trade mission to Saudi Arabia.
Speaking to the Saudi financial newspaper “Maaal” on the sidelines of the trade mission, Al-Sowaidi emphasised that the event was not merely a commercial occasion but a strategic step to enhance economic and trade relations. “This initiative reflects our commitment to fostering fruitful cooperation between the public and private sectors in both countries,” he said.
Al-Sowaidi underscored the significant growth in Qatar-Saudi economic relations in recent years, with bilateral trade surging by more than 87% in 2024. This growth, he noted, highlights the strength of the economic partnership between the two nations.
The new “Qatar Exports” office in Saudi Arabia is expected to facilitate the entry of Qatari products and services into the Saudi market. It will also provide Qatari companies with the necessary support to expand into new markets, offering innovative financing solutions, including an international credit line tailored for the Saudi market.
In closing, Al-Sowaidi thanked all parties involved in organizing the event and reaffirmed QDB’s commitment to supporting Qatar’s private sector and enhancing its global presence.
The opening of the office marks a milestone in Qatar-Saudi economic relations, paving the way for deeper collaboration and mutual growth in the region.