Qatar's economy stable, strong to cope with blockade: minister | daily-sun.com

Qatar's economy stable, strong to cope with blockade: minister

AFP     24th September, 2017 12:35:39 printer

Qatar's economy stable, strong to cope with blockade: minister

Qatar's economy has proved its strength and resilience in the face of many global challenges which affected developed countries, Qatar's Economy and Commerce Minister Sheikh Ahmed bin Jassim bin Mohamed al-Thani was quoted as saying by Qatar News Agency on Saturday. 

Despite the three-month siege on Qatar, Qatar had succeeded in strengthening its power and independence more than ever, the minister said on the sidelines of the 72nd Session of the UN General Assembly in New York. 

He stressed that his country was working on developing the necessary mechanisms required for the import of goods and services, by finding alternative markets to import goods and services from. 

"Qatar has succeeded in establishing alternative and direct trade routes with a number of strategic venues around the world within a few days of the imposition of the blockade," he added. 

He also referred to the IMF report which said that the Qatari banking sector remains sound, with high asset quality and strong capitalization, and the investment environment in Qatar is strong and attractive as the state has a flexible economic policies through the 'Invest in Qatar' office, which facilitates all procedures for foreign investors and provides support at all stages of investment. 

On June 5, the quartet of Arab countries cut off air, sea and land ties to their gas-rich neighbor Qatar, accusing Qatar of funding terrorism. Qatar has strongly rejected the allegations.

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