Minister of State for Foreign Trade Affairs, H E Dr. Ahmed bin Mohamed Al-Sayed with senior officials during the St. Petersburg International Economic Forum in Russia.
Doha, Qatar: Minister of State for Foreign Trade Affairs, H E Dr. Ahmed bin Mohamed Al-Sayed, headed the delegation of the State of Qatar at the 28th St. Petersburg International Economic Forum, held in Russia on 18-21 June 2025 – bringing together heads of government, senior officials, private sector leaders and experts from worldwide.
Qatar’s participation highlights its leading economic position on regional and international levels and aims to underscore the attractive investment environment available for foreign investment. The delegation shed the light on the key investment incentives, advantages, and initiatives steered to support the private sector and enhance the competitiveness and diversification of national economy under Qatar National Vision 2030.
The Minister of State took part in the forum’s plenary session attended by H E President Vladimir Putin, President of the Russian Federation, alongside prominent political and economic figures and global decision-makers.
He also participated in a high-level panel discussion entitled “In Search of New Growth Drivers: Redesigning the Global Financial and Trade Framework,” alongside senior officials including: H E Alexey Overchuk, Deputy Prime Minister of the Russian Federation; H E Saleumxay Kommasith, Deputy Prime Minister of the Lao People’s Democratic Republic; H E Anton Siluanov, Minister of Finance of the Russian Federation; Andrey Kostin, Chairman and CEO of VTB Bank; H E Benedict Okey Oramah, Chairman and President of the African Export-Import Bank; Oleg Deripaska, Founder of RUSAL, GAZ Group, and the Volnoe Delo Foundation; and Yaroslav Kuzminov, Academic Supervisor at the Higher School of Economics (National Research University).
The Minister of State delivered remarks highlighting Qatar’s pivotal role in promoting innovation and scientific research as a cornerstone of sustainable economic growth. He underscored the importance of Qatar’s Research, Development, and Innovation Strategy 2030, which seeks to catalyse institutional transformation and advance key national priorities, such as food security, healthcare, energy, technology and logistics.
He emphasised that Qatar fosters an ecosystem in which the public and private sectors are encouraged to adopt advanced technological solutions that enhance efficiency, strengthen competitiveness, and drive entrepreneurship— particularly within priority sectors.
He also underscored the Gulf Cooperation Council (GCC) as a successful model of regional integration, highlighting its harmonised economic systems and policies, and shared infrastructure and services. He noted that the GCC continues to make steady progress towards full economic integration, further strengthening its position as a prominent global financial and investment hub.
The Minister of State stated that the GCC’s aggregate GDP reached approximately $2.2 trillion, ranking it ninth globally, while its capital markets hold the seventh position worldwide by market capitalisation, accounting for 4.3% of global markets. The non-oil sector contributed 75.9% of the region’s GDP in 2024.
Dr. Ahmed bin Mohamed Al-Sayed also highlighted Qatar’s success in advancing a digital economy, underpinned by its robust infrastructure and adoption of Fourth Industrial Revolution technologies.
He noted that this enables Qatar to keep pace with global transformations and position itself as a leader in the knowledge economy.
On the sidelines of the forum, the Minister held bilateral talks with H E Maxim Markovich, Deputy Minister of Agriculture of the Russian Federation, and Andrey Kostin, Chairman and CEO of VTB Bank. The meetings explored prospects for cooperation in various fields and the incentives, legislation overhaul, and promising opportunities Qatar offers to encourage foreign investment. He also toured the forum’s accompanying exhibition, including the pavilion of the Kingdom of Bahrain, this year’s Guest of Honour, and several other exhibitors.
He was briefed on the latest services and innovations in sectors such as industry, financial services and insurance, information technology, healthcare, education and science, business consultancy, telecommunications, logistics and transport, real estate, hospitality and tourism, and metals and mining.
The official delegation representing the State of Qatar at the St. Petersburg International Economic Forum included representatives from the Ministry of Commerce and Industry, Qatar Investment Authority, Investment Promotion Agency (Invest Qatar), and Qatar Chamber of Commerce and Industry.
