PHL, Qatar to sign MOU on investment cooperation during Emir's state visit

A memorandum on understanding on investment cooperation will be one of the four agreements that the Philippines will sign with Qatar during the state visit of Amir Sheikh Hamad Bin Khalifa Al-Thani on Tuesday afternoon. The MOU would be between the Department of Trade and Industry and Qatar Holding Limited Liability Corporation, according to presidential spokesperson Edwin Lacierda.   “This MOU would explore the investment opportunities in the Philippines in various sectors including natural resources, commodities, energy, agriculture, infrastructure,” he said.   He added there will also be a private sector agreement on the establishment of joint business council between the Philippine Chamber of Commerce and Industry and the Qatari Chamber of Commerce and Industry. Also to be signed is an MOU on tourism cooperation, which aims to create favorable conditions for long-term cooperation in tourism for the mutual benefit of both countries.   Lacierda said there will also be an MOU on cooperation in the legal field that will encourage the sharing of experiences and best practices in the performance of the mandates of both country’s respective ministry or department of justice.   Another MOU will be on agricultural and fisheries cooperation, which is expected to establish the general framework for cooperation in the fields of agriculture and fisheries for the purpose of fostering sectoral development and enhancing agri-related trade and investment.   Lacierda said among the areas of cooperation are crops technology, vegetable and fruit preservation, biotechnology, post harvest technology, livestock and fisheries, coastal and deep-sea fishing management, irrigation and water resources, and the halal industry.   The Emir of Qatar will be arriving at Malacañang around 5:30 in the afternoon Tuesday. He will be welcomed by President Benigno Aquino III.   After the welcome ceremony, the emir will be ushered to the Malacañang Reception Hall to sign the guest book and then to the Music Room for a courtesy call on Aquino.   The call will be followed by an expanded bilateral meeting and then the signing of the agreements.   The President will be hosting state dinner in honor of the Qatari Emir at the Rizal Hall.   The Emir will be staying in the Philippines until Wednesday, April 11.    Foreign Affairs Secretary Albert del Rosario earlier said the Emir’s visit affirms the advancement of political and economic ties between the Philippines and Qatar.    The State of Qatar is one of the fastest growing economies in the world and is the richest country in terms of gross domestic product per capita. Qatar is host to an estimated 175,000 overseas Filipino workers.   The state visit, upon the invitation of President Aquino, will be the first ever of a Qatari Emir to the country.   The Philippines and Qatar have been enjoying a vibrant and dynamic partnership for 31 years. — Amita O. Legaspi/KBK, GMA News