Qatar Chamber calls for study on carbon tax implications for GCC economies

Qatar Chamber Chairman Sheikh Khalifa bin Jassim al-Thani has emphasised the importance of the consultative meeting among the ministers of commerce and industry and the heads of unions and chambers of commerce in the GCC states, highlighting its role in advancing Gulf economic integration.

Sheikh Khalifa made these remarks during the recent consultative meeting held in Doha, where he lauded the directives of the council leaders to support the private sector and strengthen its pivotal role in the comprehensive development of GCC nations. He noted that this reflects their commitment to enhancing economic and trade co-operation among our countries.

He said Qatar Chamber proposed to conduct a study assessing the impact of imposing a carbon tax on GCC economies, noting that Gulf economies rely primarily on oil, gas, and hydrocarbon industries and that such a tax could therefore reduce the competitive advantage of Gulf exports. Sheikh Khalifa noted that the EU plans to impose this tax in 2026, targeting exports of aluminium, petrochemicals, steel products, and manufactured goods.

Sheikh Khalifa expressed hope that the consultative meeting would address the challenges facing GCC countries, expand the role of the private sector in Gulf economic activity, and enhance support for the role of the Federation of GCC Chambers in this context.

He emphasised that Qatar Chamber is looking forward to increased cooperation with GCC unions and chambers, as well as stronger partnerships between the private sector in Qatar and its counterparts in the Gulf countries. He stressed that this collaboration aims to enhance trade and economic cooperation and elevate the levels of intra-GCC trade.

On the sidelines of the consultative meeting, Sheikh Khalifa participated in the inauguration of the Second Gulf Industrial Exhibition held at the Sheraton Grand Doha Resort & Convention Hotel and attended the ceremony honouring GCC manufacturers and inventors.