The works of the World Trade Organization’s second trade policy review was concluded successfully recently in Geneva with more than 160 countries participating.
The participating Qatari delegation included the Ministry of Economy and Commerce, Ministry of Finance, Ministry of Energy and Industry, Ministry of Foreign Affairs and Ministry of Development Planning and Statistics, Ministry of Information and Communication Technology, Qatar Central Bank, Qatari Customs, Qatar Petroleum, Qatar Financial Centre Authority and the Chamber of Industry and Commerce.
Assistant General Manager of the Customs Department Ahmed Issa Al Muhannadi said that the department participated in the review of the State of Qatar trade policies, adding that the department had a team that responded to the questions and the notes of member countries. He added that he highlighted the country’s use of a one stop window for finalizing all matters related to customs.
Director Of Industrial Development Department Saeed Mubarak Al Kuwari said that the ministry provided all incentives for investors interested in the industrial sector, whether those investors were nationals or foreigners. He noted that there were a number of industrial projects that were fully owned by foreign investors. Such projects were possible because they fitted with the country’s developmental plans, he added.
Khaled Abdel Rahman Al Muftah, acting director of credit policies and debts at the Ministry of Finance, said the ministry played a pivotal role in implementing the income tax system in accordance with the law which gives incentives for foreign investors in Qatar in all economic sectors.
That is one of the basic objectives of the Ministry of Finance, he said, adding that other objectives include coordination and cooperation with international organizations to establish trade, investment and finance relations.
The Finance Ministry has been pursuing the principle of transparency in providing data and financial information to maintain the rating of the state, he added.
Abdullah Abdul Rahman Al Jaidah, from the executive office of the Qatar Central Bank (QCB), spoke of the QCB’s contribution to the success of Qatar’s trade policies, pointing to the issuance of new law No. (13 ) of 2012 on Qatar Central Bank and the regulation of financial institutions.
For his part, Dr Mohammed bin Saif Al Kuwari, Assistant Undersecretary for Laboratories and Standardization at the Ministry of Environment, underlined the important role of the Qatar general authority for standards in promoting trade and economy in accordance with the principles of the World Trade Organization.
He highlighted the role of implementing laws, legislation and technical regulations and standards in facilitating intra-regional trade and reducing technical barriers while preserving the health, safety and the environment.
Acting director of the Institutional Relations Department at the Ministry of Information and Communications Technology (ictQatar) Nour Shahdad said that the ministry’s team answered the questions of participants on Qatar’s trading policies.
She said that foreign investment in the telecommunication sector was subject to the laws of investment in the state, which set a maximum of 49% allowed to be owned by a foreign investor. She added that the ministry was working ardently on guaranteeing a competitive Qatari market in the telecommunication sector.
Economic Expert at the Ministry of Development Planning and Statistics Issa Jomaa Ibrahim said that the ministry responded to questions related to Qatar National Vision 2030 and Qatar National Development Strategy 2011–2016, adding that they highlighted Qatar’s positive economic forecasts, as all indicators signal that the country’s high growth rate will continue in the future.
The first policy trade review of the State of Qatar was on 2005, and was praised for improving the economy.
Source : Qatar News Agency