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16% in 2017, Says Sheikh Ahmed Atar’S Foreign Trade Has Shown Quired Licenses, Which Only Require the Remarkable Growth, Increas- Approval of the Free Zones Authority

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16% in 2017, Says Sheikh Ahmed Atar’S Foreign Trade Has Shown Quired Licenses, Which Only Require the Remarkable Growth, Increas- Approval of the Free Zones Authority RUSSIA VIEW | Page 3 CREDIT WOES | Page 14 Sanctions seen RBI urged to hitting growth, take steps to not rating: Fitch ease liquidity Wednesday, September 26, 2018 Moharram 16, 1440 AH QFC SUPPORT: Page 16 GULF TIMES Qatari start-ups make their presence felt at BUSINESS WEF meeting in China Foreign trade grows ‘remarkable’ 16% in 2017, says Sheikh Ahmed atar’s foreign trade has shown quired licenses, which only require the remarkable growth, increas- approval of the Free Zones Authority. Qing by 16% in 2017, said HE the Sheikh Ahmed stressed Qatar’s Minister of Economy and Commerce “fi rm commitment” to strengthening Sheikh Ahmed bin Jassim bin Moham- its position as a regional business hub, ed al-Thani. highlighting the country’s success in Qatar’s total exports also increased establishing direct trade lines with a by 18%, contributing to a total trade number of strategic partners around surplus of 49%, he said while chairing the world. a roundtable with businessmen during In this context, the Minister called a working lunch on the sidelines of Qa- upon the American business commu- tar’s participation in the 73rd session nity to benefi t from Qatar’s strategic of the United Nations General Assem- geographical location, advanced infra- bly in New York on Monday. structure and investment and legisla- Sheikh Ahmed said international tive environment. Qatar will continue trade and investment form a key part to honour its agreements and interna- of Qatar’s future growth and diversi- tional conventions. fi cation, adding that the US is one of Qatar’s private sector is also playing Qatar’s most valued and largest global an important role, the Minister said, partners. noting that the country is currently The US and Qatar are bound by sev- working on a public-private partner- eral agreements and memorandums ship law that will contribute to sup- of understanding, especially the TIFA porting this sector and foreign inves- Agreement, which led to the establish- tors in the Qatari economy. ment of a joint council since 2004. Sheikh Ahmed also pointed to Qa- On bilateral trade, Sheikh Ahmed tar’s sustainable economic policies and said $24bn worth of goods were traded its ability to consolidate its position as in the last fi ve years; 84% of the trade a regional business hub”. balance was in favour of the US. HE Sheikh Ahmed addresses a roundtable with businessmen during a working lunch on the sidelines of Qatar’s participation in the 73rd session of the United Nations Qatar welcomes US investors who The US is also Qatar’s top destina- General Assembly in New York on Monday. may benefi t from the promising in- tion for imports with 16% of Qatar’s vestment opportunities off ered by the imports coming from the US in 2017. American citizens live in Qatar, where cording to the Minister, point to the Qatar has “successfully” estab- tion in its fi rst stage. The legislative Qatari economy, which is one of the Financial transactions from Qatar to 5,000 highly skilled individuals are fact that “Qatar has overcome the siege lished direct commercial routes with framework regulating foreign invest- fastest growing regional economies, he the US reached $26.5bn in 2017 alone, currently working in the private sector, by enhancing its economic competi- a number of strategic hubs around ments in Qatar off er foreign investors said. including business profi t, salaries, and he said. tiveness and cementing its position as the world, diverting trade to its major the opportunity to own up to 100% of Sheikh Ahmed also participated in payments. Qatar, Sheikh Ahmed said, “achieved an attractive destination” for US in- trading partners. investment projects in various sectors, the reception hosted by South African Qatari investments in the US have positive growth rates” last year, noting vestments. The country has sought to take ad- the Minister said, noting that the Free President Matamela Cyril Ramaphosa also exceeded $45bn, the equivalent to that Qatar’s real GDP grew by 1.6% at Qatar’s economy depends mainly on vantage of the “excellent” business Zones Law allows 100% ownership to celebrate the centennial of late pres- 23% of Qatar’s GDP, he said. constant prices. the oil and gas sector, despite the fact environment and investment oppor- across many activities and sectors. ident Nelson Mandela. Qatar Airways alone provided Numerous international reports that the government’s economic poli- tunities available in Qatar to create a Qatar also off ers investors “numer- The roundtable, which was organ- a $92bn boost to the US economy have indicated the strong perform- cies have contributed to an increase in sophisticated air fl eet operated by Qa- ous” incentives including the free- ised by the Embassy of Qatar, US-Qatar through the purchase of some 332 ance of the Qatari economy. Quoting the contribution of non-oil sectors to tar Airways. dom to transfer capital and choose Business Council and the US Cham- American aircraft, a deal that supports the latest report released by the World about 51.8% of GDP last year. Qatar has sought to mobilise its the legal entity of a project in addition ber of Commerce, brought together more than 527,000 direct and indirect Bank, the Minister said Qatar’s real The Minister touched upon meas- signed regional agreements with Ku- to exempting assets and production Khush Choksy, senior vice president, jobs in the US. GDP growth was expected to rise to ures that Qatar has taken to overcome wait, Iraq, Oman, Turkey, Pakistan, requirements as well as exports and American Chamber of Commerce for More than 650 American companies 2.8% in 2018. the “unjustifi ed siege” imposed on the India, Azerbaijan and Central Asia to imports from taxes and duties, which Middle East aff airs; Mohamed Barakat, are established in Qatar, including 117 Qatar’s infl ation rates have also country, which was aimed at under- expand its trade activities by establish- would streamline the fl ow of goods and US-Qatar Business Council managing companies 100% owned by US citi- dropped to about 0.5% in 2017 com- mining its position, but he said Qatar ing a sea fl eet that connects Qatar with services to and from Qatar. director and Sheikh Meshal bin Hamad zens, the Minister noted. pared to 2.7% in 2016. “emerged stronger and more inde- its major trading partners in the world, Qatar has established a single win- al-Thani, Qatar’s ambassador to the US. In addition, more than 15,000 All these “positive” indicators, ac- pendent” than ever before. targeting a market of 400mn popula- dow, where investors can obtain all re- Page 16 India’s exports to Qatar jump 87% in 2018 Qatar-Germany ties ‘set to reach new heights’ By Peter Alagos By Peter Alagos Business Reporter Business Reporter India has recorded an 87% jump in Economic ties between Qatar and Germa- exports to Qatar in one year from April ny “are set to reach new heights” over the 2017 to March 2018, reaching nearly next five years following His Highness the $1.5bn according to the country’s envoy. Amir Sheikh Tamim bin Hamad al-Thani’s In the previous year, Indian exports to announcement of additional investments Qatar had totalled close to $800mn, P into the German economy, according to Kumaran told Gulf Times yesterday on ambassador Hans-Udo Muzel. the sidelines of a business meeting be- Muzel made the statement in his wel- tween Qatari companies and an Indian come note during the annual general as- trade delegation at the Qatar Chamber. sembly of the German Business Council The Indian trade delegation was led by Al-Kuwari hands over a token to K-flex India CEO Kalra after a business Qatar (GBCQ), which appointed new K-flex India Company CEO Triviyan K meeting in Doha yesterday. Joining them are al-Athba, Kumaran, and other board members and other off icials. Kalra. dignitaries. At the ninth instalment of the ‘Qatar-Ger- The delegation met with Qatar Chamber many Business and Investment Forum’ From left: Adrian Wood, Kathrin Lemke, Peter Neuschaefer, ambassador first vice chairman Mohamed bin Towar al- Given our growth rate of 7% to 8% – the roadshows by Qatar. We had a discus- held earlier this month in Berlin, Ger- Hans-Udo Muzel, Henning Zimmermann, Bahman Datsvareh, Oliver Moritz, Kuwari and second vice chairman Rashid fastest growing major economy in the sion with Mr Ahmad bin Mohamed many, His Highness the Amir said Qatar is Elias Chedid, Oliver Alexander, and Charbel Maakaron. bin Hamad al-Athba, as well as other cham- world – I think the opportunity for good al-Sayed, the chairman of Qatar’s Free planning to pour €10bn into Germany. ber off icials and member companies. returns above other most economies is Zones Authority, and we understand This fresh round of planned investments, auditor, and arbitration committee. companies were honoured for their “Our analysis showed that the main in- high,” he pointed out. that once the bylaws are firmed up, he which include “vital projects” in the The new board is composed of chairman continuous support to the council: Qatar crease was in the area of food and food The ambassador said Qatari invest- would be very much interested in talk- automobile industry and the information Henning Zimmermann (DB Schenker); International Automobiles for their sup- products, iron and steel, aluminium, ments could be used to develop sectors ing to Indian companies.” technology and banking sectors, would Elias Chedid (Seib Insurance and Reinsur- port as “premium partner” and Al Mana and transport machines and cars from such as oil and gas, power, infrastruc- According to al-Kuwari, there are 24 add to Qatar’s investment portfolio in ance); Adrian Wood (Siemens); Peter Group as “most loyal member” since the Suzuki and Tata Motors,” the ambas- ture, food and food processing, agro- fully-owned Indian companies in Qatar Germany, which now stands at more than Neuschaefer (Dorsch), and Bahman council’s establishment in 2002.
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