(MENAFN- The Peninsula) The Peninsula
Qatar's economy is growing with the fastest rate in the region despite illegal blockade imposed by siege countries, said the Minister of Finance, H E Ali Shareef Al Emadi, at a high profile event in the United States, yesterday.
The Minister of Finance, who is leading a Qatari delegation to participate at the Annual Meetings of the International Monetary Fund (IMF) and World Bank in Washington DC, noted that Qatar's existing economic relationships around the world have continued to flourish, while new markets and opportunities are constantly being identified.
'When the blockade was imposed on Qatar, there were many questions and doubts surrounding the future of our country, he recalled. 'However, four months into the blockade, our economy is still the fastest growing in the region, with a 2.5 percent growth rate. For the past five years, we have been supporting the private sector and implementing measures to make it more competitive and attractive to local and international investors, said Al Emadi, at a reception event held on the sidelines of the meetings.
The private reception was organised by the Embassy of Qatar in the US and the US-Qatar Business Council. Guests included key executives of American businesses in Qatar, Qatar Airways and Dana Shell-Smith, former US ambassador to Qatar. Al Emadi addressed the guests at the reception providing incite on Qatar's positive economic outlook.
'The most important thing that this blockade has shown the world is that Qatar is a reliable trade partner, the Minister added. 'We have never once missed a single shipment and we continue to provide natural gas to the UAE as per existing contracts, regardless of our current differences, proving yet again that Qatar does not use its economic power for political leverage.
The Minister went on to say: 'The blockade has had a beneficial impact on many sectors, such as tourism and hospitality. Our newly announced measures now allow for citizens of 80 countries to visit Qatar visa-free. The blockade has reiterated our commitment to providing an open and competitive market to international investors. We have been welcoming businesses from around the world for decades.
Al Emadi also highlighted Qatar's global investment portfolio, which amounts to a 'win-win situation as they help strengthen bilateral relations, support communities and create jobs. 'We are soon going to announce major projects, not only in the energy sector, but in the private sector as well, which will provide additional opportunities for investors to benefit from.
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