Qatar A Future Trading Hub| MENAFN.COM

Thursday, 23 March 2023 12:37 GMT

Qatar A Future Trading Hub

(MENAFN- The Peninsula) The Peninsula

Doha: Few events have tested the global logistics and supply chain network as drastically as the COVID-19 pandemic. The aftereffects of the worldwide disruptions will likely be felt for years. At the same time, the crisis brought existing vulnerabilities as well as opportunities to light. In its midst, a strategically located Gulf state with links to Asia, Europe and Africa has reinforced its role as a reliable logistics hub, recording $22,462m revenue in logistics and warehousing in 2021.

With 2bn people across more than 25 countries worth $6 trillion in combined GDP within just 3,000 km reach, Qatar benefits from a unique sense of connectivity. Its national airline, Qatar Airways, connects to more than 150 international destinations, while Hamad Port, the largest multipurpose port in the region, services over 15 direct shipping lanes.

A recent Trading Hub sectoral study by the Investment Promotion Agency Qatar (IPA Qatar) indicates that the country's logistics market is forecast to outpace all competitors in the GCC region in terms of growth between 2020 and 2026.

Placed against the promising outlook of the global supply chains, logistics and warehousing industry – with a market size of $9.5 trillion in 2021 –, investors stand to benefit from Qatar's ultramodern infrastructure, booming industrial activity, and open approach to business.

The country already ranks in the top 20 percent in logistics performance globally and 2nd in the Middle East. But what are some of the key drivers of its flourishing trading sector?

1. Access to capital: Ready and complete industrial facilities for SME owners and entrepreneurs, coupled with low tariffs including for electricity, tax holidays and no customs duties on imports at Qatar Free Zones.

2. Robust support system: World-class free zones, industrial areas and logistical parks that offer a business-friendly environment and other support services for foreign investors.

3. Resilient transport & logistics: Global connectivity through Hamad International Airport (HIA) and Hamad Port with one of the world's largest air cargo carriers, along with diversified trade partners for critical commodities and goods.

4. Technological infrastructure: Qatar ranks 3rd in the Arab world on the Network Readiness Index 2021.


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