trade policy review of QATAR

Trade Policy Review of Qatar

One of the newer emirates in the Arabian Peninsula , Qatar is coming of age - economically and socially . Once a land where fishing and pearling was a source of income , Qatar 's economy has surged forward after the discovery of the precious liquid - oil . Since 1940 , the discovery has turned the nation inside out and Qatar currently boasts of everything a modern nation could ask for . Large portions of the country 's income are derived from oil and natural gas exports . Although these supplies will last for several

years to come , Qatar is making a wise choice by branching out and investing in the private sector

Yes , Qatar has made immense economic progress in the recent past and is definitely on its way to being placed amongst the top few income economies in the world . As a direct result , life style patterns of the people in Qatar are undergoing a dramatic change . A mushrooming customer base makes the country a perfect destination for exporters and investors . Demands are rising and choices are varied

Powered by the development and export of huge natural gas reserves Qatar 's GDP growth has been impressive , and sound monetary policy has brought inflation under control .Qatar 's task is to further diversify its economy , a challenge the government is pursuing through its promotion of investment in small and medium-sized enterprises that use hydrocarbon by-products and its opening of some service sectors to foreign investment

Keeping this scenario in mind , the Qatar government would be doing right if it practiced and permitted trade liberalization in its markets . The unhindered flow of goods and services between Qatar and several partner countries would open up investment opportunities for both . Policies that encourage free trade and its protection would also be a step in the right direction . This would mean reduction in tariffs and trade barriers , permitting more foreign competition and investment in the economy . Countries all over the world are eager to sign free-trade pacts with Qatar . It would do more good than harm . There is substantial US investment in Qatar that continues to expand . The US hopes to see during this year the beginning of the process to sign a Free Trade Agreement (FTA ) with Qatar

With respect to Qatar , elimination of all or at least most trade tariff barriers will create a worldwide free trade zone . Qatar 's agenda of just reducing the present trade barriers that exist may not be good enough

When Qatar sets for itself certain restraints , it is important to keep in mind that there will be several repercussions . In the case of voluntary export restraints or VERs , Qatar can set its limits on how much their firms will voluntarily export to a particular country . Since Qatar is not in a position to aggravate the countries that it is currently importing to (after all , they 're most probably investors , the Qatar trade policy could maintain the Voluntary Export Restrictions . It is hardly voluntary , considering that exporting countries have...