Premier Paula Cox hopes the signing of a pair of major tax and economic cooperation agreements with “impressive” Qatar will lead to investment in the Island by the gas-rich Gulf nation.She noted the Qatar Investment Authority had already invested in global tourism, including a resort in Cuba.Premier Cox said a Qatari delegation planned to tour Morgan’s Point and other tourism-related development opportunities after yesterday’s signing ceremony.And she said the new Qatar-Bermuda ties could also further “the Ministry of Finance’s strategy to position Bermuda to attract the global Islamic financial services industry”.She revealed Bermuda’s expected to be a keynote sponsor of a planned Islamic Conference in New York in September of this year.Premier Cox further said that the new ties with Qatar could also create opportunities for Bermudian students to study in the Middle East.Bermuda and Qatar signed a Double Taxation Agreement (DTA) yesterday and on Wednesday a Memorandum of Understanding with the Minister of Qatar responsible for trade was inked.Both Premier Paula Cox and Qatar finance official Moftha Jassim Al Moftah said they saw the signing of the two agreements as the start of a new phase in relations between the Island and Qatar, which could in turn lead to the development of new business and investment opportunities for both countries. .“This Government has as a priority the issue of jobs and being open for and to business and of moving in the right direction as we get our economic recovery/stimulus actions on track inclusive of increasing diversification of opportunities from and with broader markets,” the Premier said at a news conference at Camden, attended by a host of senior Government officials, and business people.“Today the Government of Bermuda lays down our trump card to further Bermuda as a western hub for the Islamic financial services industry.”Mr Al Moftah called the agreements a “starting point” that could elad to more economic cooperation and ties between the two countries, and “not only in financial services”.“I hope we will reach our goal of more joint investment,” he said.She added: “The Double Taxation Agreement (DTA) signed today enters Bermuda among Qatar’s impressive DTA network of 50 DTAs and positions us to market Bermuda as an interconnecting domicile for Bermuda and investment from and to those 50 countries with which Qatar has DTAs.“As well, investors in countries that to date do not have a DTA with Qatar can establish domicile in Bermuda and benefit from the Qatar Bermuda DTA and the DTA network.“The DTA also provides incentive to Qatar entities including Qatar Airways, also Bermuda’s reinsurance industry and shipping companies around the world that have Qatari or GCC ownership interests.”She continued: “Yesterday the Minister of Business Development and Tourism the Hon Wayne Furbert, in collaboration with some of our international business service providers, hosted a Bermuda/Qatar Business Development trade mission for the Qatar delegation. No doubt this will be followed up with a Bermuda Business Development and Tourism Trade mission to the Gulf Cooperation Council (GCC) region with the assistance of our new friend, the State of Qatar.”On the MOU, Premier Cox said: “That MOU which I cosigned covers economic, commercial and technical cooperation, including industry, mines energy, agriculture, communications, transportation, construction, labour and tourism, which sets out that Qatar will assist Bermuda to make further inroads in the GCC region and Bermuda will position ourselves as a hub to assist Qatar to further diversify structures to access western markets.”The Premier said the Memorandum provides that Qatar and Bermuda agree to establish a Joint Trade Committee for Economic, Commercial and Technical Cooperation “to meet alternatively on periodic basis, as agreed by both parties, in the territory of the two countries following a request from either party”.Premier Cox said the Qatar agreements may not only benefit the business community.“Your Excellency this is a time of economic challenge around the World,” she said. “The Government assures our people that we are pursuing further diversity of opportunity for the man in the street as well as well as for our international business stakeholders.“Your Excellency, you and I have discussed a host of opportunities that can benefit Mr and Ms Bermuda. We have discussed yesterday practical investment opportunities that ultimately create jobs, a priority of this Government. I am pleased to advise that visits are planned today post the signing to look at potential joint venturing on development projects, including tourism-related opportunities. I acknowledge also in our audience today development principals of Morgan’s Point, Messrs Craig Christensen and Nelson Hunt.”Mr Christensen and Mr Hunt of Southlands Ltd are behind a proposed $1.8 billion Morgan’s Point resort.“The combination of today’s DTA and yesterday’s Memorandum creates opportunities for Bermudians, particularly for our students to study in the Middle East. The Minister of Education the Hon. Dame Jennifer will look at possible opportunities,” Premeir Cox said.“There is opportunity for Bermudian businesses large and small to explore cross border trade with Qatar and the GCC region.”Qatar in 2010 had the world’s highest GDP per capita while the economy grew by 19.4 percent, the fastest growth in the world. It’s proved reserves of natural gas are said to exceed more than five percent of the world total.