Minister of Economy, Commerce: Qatari Economy Proved ability to Enhance Competitiveness, Overcome Challenges

Doha, March 15 (QNA) - HE Minister of Economy and Commerce Sheikh Ahmed bin Jassim bin Mohammed Al-Thani said that various economic indicators confirm that the Qatari economy has continued its growth process, enhancing its competitiveness and overcoming all challenges by implementing a strategy aimed at diversifying sources of income, stimulating the productivity of non-oil sectors and supporting the private sector to be an active partner in achieving Qatar National Vision 2030, which aim to establish a diversified and competitive knowledge-based economy. This came today during the meeting with HE the Minister with the delegation of the Parliamentary Assembly of the North Atlantic Treaty Organization (NATO), headed by Chairman of the Portugal-Korea Parliamentary Friendship Group Vitalino Canas. During the meeting, the two sides exchanged views on issues of common interest and discussed aspects of joint cooperation, especially in the economic and trade fields, and ways to develop them, in addition to enhancing investment opportunities between Qatar and NATO countries. HE the Minister stressed the close strategic relations between the State of Qatar and NATO countries, and expressed his hope to further enhance cooperation at all levels. He pointed to advantages of the Qatari economy, saying that, under the leadership of HH the Emir Sheikh Tamim bin Hamad Al-Thani the State of Qatar has succeeded in consolidating its steadfastness and promoting its strength and independence in light of various regional and global conditions. He pointed, in this regard, to the increase in the gross domestic product GDP of Qatar during the year 2017, to reach about USD 220 billion, compared to USD 218 billion in 2016, noting that the real growth rate of GDP at constant prices, has reached about 2 percent in 2017. His Excellency the Minister added that according to the latest World Bank reports, Qatar's real GDP growth is expected to rise to about 2.6 percent this year. In addition, HE the Minister pointed out that the contribution of the non-oil sector to the GDP at constant prices reached 52 percent and that the foreign trade of the State of Qatar witnessed remarkable growth during last year. The trade volume in 2017 increased by 16 percent to reach USD 103 billion compared to USD 89 billion in 2016. He pointed out that Qatari exports increased by 19 percent in 2017 to reach USD 68 billion, compared to USD 57 billion in 2016, which this reflected in the total trade balance of the country that achieved a large surplus of about 40 percent, to rise from USD 25 billion in 2016 to USD 35 billion in 2017. Commenting on the investment incentives offered by the State, HE the Minister of Economy and Commerce expressed his full conviction that the successful economic policies adopted by the State of Qatar have greatly contributed to enhancing investor confidence in the national economy. He added that Qatar is one of the most important countries in the region in terms of encouraging investment, thanks to the balance of its policies and economic decisions, as well as its strategic position that enables it to become a commercial hub for various countries in the region and the world. The NATO Parliamentary Assembly, established in 1955, is an interactive platform for members of the NATO Parliament to examine key issues affecting the security of the Euro-Atlantic region and support for defense and national security. (QNA)