Qatar succeeds in tackling siege challenges: Economy Minister

Minister of Economy and Commerce H E Sheikh Ahmed bin Jassim Al Thani has reaffirmed that the Qatari economy, under the directives of the wise leadership, has succeeded in proving its strength and steadfastness.
The economy has handled all the challenges of the unjust siege imposed on the country by activating proactive strategies and plans that were developed years ago to address any local or global crises, said the Minister addressing the second session of the Qatari-Sri Lankan Joint Committee on Economic, Commercial and Technical Cooperation, in Colombo. The minister said the meeting comes under the illegal siege that was imposed by neighbouring countries and aims to undermine Qatar’s position as an economically independent and sovereign country, QNA reported. Qatar succeeded through Hamad Port to develop direct lines with a number of strategic ports and to benefit from the shipping services provided by the national carrier to more than 150 destinations across the world, boosting its openness to many global markets.
Participating in the session is a significant opportunity to build on the achievements of the recent Qatari-Sri Lankan Business Forum in Doha, the minister said, adding that it reflects the keenness of the two countries to consolidate cooperation ties and take their joint objectives into practice.
He added that the friendly relations between the two countries that date back to the mid-70s have contributed to the consolidation of cooperation between them on all fronts, especially in the economic, trade and investment fields. The volume of trade exchange between the two sides amounted to about QR223m in 2016.
The Minister also pointed to the agreements and memoranda of understanding signed between the two countries that cover many vital fields and have played an important role in promoting bilateral economic relations.
He added that Qatar considers Sri Lanka a major investment and trade partner in light of the economic capacities that distinguish the two countries and encourage them to place a number of critical sectors, particularly the agricultural one, on the map of mutual cooperation in the coming phase.
The Minister expressed hope for further activation of relations between the private sector and businessmen from both sides, enabling them to play a bigger role, and entering into investment partnerships that would enhance economic and investment cooperation between the two friendly countries.
He hoped that the Qatari-Sri Lankan joint committee on economic, commercial and technical cooperation would contribute to reaching mechanisms that can increase the volume of trade exchange between the two countries and establish effective plans to serve the common directions and goals in the field of investment and pave the way for the establishment of successful projects that benefit the two friendly countries.
He added that for years, Qatar has followed clear economic policies inspired by the wise vision of Emir H H Sheikh Tamim bin Hamad Al Thani, explaining that these policies aim to achieve the Qatar National Vision 2030, which works on creating a knowledge-based diversified and competitive economy.
The Minister said that, within this direction, the state issued laws and legislations that strengthen the private sector’s contribution in the Qatari economy and provided an attractive investment environment for the different economic and trade projects. These laws and legislations give the opportunity to foreign investors to participate in all economic activities in Qatar by owning 49 percent of the invested capital with the possibility of increasing to 100 percent in specific fields such as agriculture, industry, health, education, tourism and other fields.  
He said Qatar developed economic, logistic and industrial areas that serve the needs of investors in addition to providing a network of highways connecting the main areas of the country.
Qatar has also launched a unified portal for all of the investors’ needs, developed the electronic services to establish companies and provided important investment incentives through Qatar Financial Centre and Qatar Science and Technology Park.
He added that, thanks to these efforts, the Qatari economy was able to achieve high ranks in global reports, where Qatar is ranked second internationally in providing a stable macroeconomic environment, eighth in the economic performance index and 18th in Global Competitiveness Index 2016.
The Minister highlighted the macroeconomic level saying that the non-oil sector contributed more than 70 percent of the gross domestic production (GDP) of 2016, revealing that the Qatari economy now provides major investment opportunities in the logistic, sports, tourism, education and health fields.
The second session of the Qatari-Sri Lankan joint committee on economic, commercial and technical cooperation was held within the leadership of H E Sheikh Ahmed bin Jassim bin Mohammed Al Thani and Minister of Industry and Commerce of Sri Lanka, Rishad Bathiudeen. The meeting conducted official discussions and reviewed the cooperation aspects in different sectors of common interest between both countries.
On the first day of the meeting, both sides reviewed cooperation relations in different fields including economic, trade, investment, energy, oil and bank projects, small- and medium-sized enterprises, agriculture, transportation, health, education, sciences, technology and culture. Both sides agreed to take the required measures to strengthen and develop the economic relations in order to increase the mutual trade volume and ease the flow of products, services and investments between both countries.