RIYADH: Qatar and Uruguay signed two economic agreements aimed at strengthening investment flows and eliminating double taxation as Doha moves to expand its network of international trade partners. 

The deals were concluded on the sidelines of the Doha Forum 2025, the Qatar News Agency reported.  

The first pact, an agreement on the promotion and mutual protection of investments, was signed by Qatar’s Minister of Commerce and Industry, Sheikh Faisal bin Thani bin Faisal Al-Thani, and Uruguay’s Minister of Foreign Affairs, Mario Lubetkin. 

The agreements come as part of efforts to establish a modern legal framework that eases two-way investments and strengthens investor confidence. They ensure fair treatment for investors, protect them from non-commercial risks, allow free movement of funds, and adopt global best practices for dispute resolution. 

“This agreement is an important step toward expanding the horizons of economic and commercial cooperation between the two countries and opening new avenues for mutual investments, especially in vital sectors and services,” QNA reported. 

In a parallel move, the two countries also signed an agreement to eliminate double taxation on income and prevent tax evasion and avoidance. Qatar’s Minister of Finance, Ali bin Ahmed Al-Kuwari, and Lubetkin signed the document. 

Speaking at the signing ceremony, Al-Kuwari emphasized the importance of the tax agreement, stating: “It will contribute to supporting international transparency standards through the exchange of documented financial information, alongside strengthening bilateral economic relations between the two countries.” 

The tax treaty aims to remove all forms of double taxation, prevent tax evasion, and ensure fairness and equality in the treatment of individuals. It is also expected to bolster commercial cooperation and increase investment opportunities for both governments and private entities. 

The agreement is expected to support broader economic and trade cooperation between the two countries and create additional opportunities for mutual investment, particularly in key sectors and services. Qatar said it hopes the deal will further strengthen bilateral ties and serve the shared interests of both nations.

Following their signing, both agreements will enter into force after the completion of ratification procedures according to the domestic laws of each country. 

The signings were preceded by a meeting between Al-Thani and Lubetkin, where they reviewed cooperation in commercial, investment, and industrial fields and discussed ways to enhance and develop these relations further.