Why Qatar Turned Down Tinubu’s Business Forum Proposal

iexclusivenews – The State of Qatar has declined to host a Business and Investment Forum (BIF) that was planned to coincide with the state visit of Nigeria’s President, H.E. Bola Ahmed Tinubu, to the Gulf nation on March 2nd and 3rd, 2024.

The Qatari embassy in Abuja issued a letter to convey their regret and explain the reasons behind their decision.

No Investment Agreement Between Qatar and Nigeria

One of the main obstacles for holding the BIF was the lack of a bilateral agreement on Investment Promotion and Protection between Qatar and Nigeria.

Such an agreement would have facilitated the exchange of trade and investment opportunities, as well as provided legal protection for investors from both countries.

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The letter from the Qatari embassy stated:

“The Embassy has the honour to inform that the Ministry of Commerce and Industry in Qatar apologizes that it will not be able to hold a Business and Investment Forum as proposed by the Nigerian side due to the following reasons: Unfortunately, there is no any agreement signed between the State of Qatar and the Federal Republic of Nigeria on Investment Promotion and Protection.”

Qatari Minister’s Absence and Web Summit Clash

Another reason for the Qatari refusal was the unavailability of the Minister of Commerce and Industry of Qatar, who would have been the key figure in organizing and attending the BIF.

The minister was scheduled to carry out official missions outside the country during the same time as the Nigerian president’s visit, making it impossible for him to participate in the forum.

Moreover, the State of Qatar was preparing to host a major Web Summit event during the same period, which would have attracted the attention and resources of the Qatari government and private sector.

The Web Summit is one of the world’s largest and most influential technology conferences, featuring speakers and attendees from various fields and industries.

The Qatari embassy expressed their hope that the Nigerian side would understand the circumstances and appreciate the efforts of the Qatari side to strengthen the bilateral relations between the two countries.