Qatar's economic approach proved its flexibility despite Siege: envoy

The Qatari economic approach has proved its flexibility despite the unjust siege imposed on the country that violates all international laws and regulations, ambassador of Qatar to Germany, Sheikh Saud bin Abdulrahman al-Thani, has said.

The ambassador made the remarks during a lecture he gave in Hamburg at the invitation of Hamburg Chamber of Commerce and the Euro-Meditteranean-Arab Association (EMA).

More than 50 economists, academics, businessmen and owners of small and medium enterprises attended the lecture.

The ambassador said Qatar has benefited from its experience facing the unjust siege and has been able to draw the right lessons from the situation, particularly with regard to opening up Qatar's economy for investments, diversifying its sources of income and achieving economic independence within bilateral relations with other countries based on mutual respect.

HE Sheikh Saud bin Abdulrahman al-Thani explained the economic situation in Qatar, the rich investment opportunities it offers and the safe investment environment it enjoys.

He also touched on Qatar's success in facing the unjust siege imposed on it and presented for the audience two films about Qatar National Vision 2030 and the economic zones.

The ambassador said Qatar was one of the first oil producing countries in the Middle East and realised early on the need to shift from an oil-based economy to a knowledge-based economy.

Hence, it sought for a long time to diversify the national income sources and merge into the global economy in order to increase the competitiveness of its national economy.

He added that this realisation came from a true political will to change economic structures as it is the only thing capable of directing new projects and investments to transition towards knowledge-based economy, which ensures keeping up with the current developments.

Stemming from its national vision, HE Sheikh Saud bin Abdulrahman al-Thani said, Qatar worked on providing a suitable investment atmosphere through a series of investment-attracting laws, in addition to the political and social stability the country enjoys and its involvement in strong and balanced relations with all parties, as well as its unique geographic location.

HE Sheikh Saud bin Abdulrahman al-Thani explained the flexible economic measures that Qatar has adopted in order to stimulate domestic and foreign investments, including the series of legal and legislative upgrades, in addition to supporting projects that aim to localise foreign industries in Qatar as well as those that pay attention to national personnel.

He stressed that Qatar has managed to take advantage of the opportunity that came with the crisis in terms of recognising the importance of encouraging and strengthening the local product, and reintroducing the Qatari citizen to the local national product.

This has led Qatar to learn about the shortcomings and weaknesses, enabling it to successfully take its national decision to work to overcome these obstacles, the ambassador said.

HE Sheikh Saud bin Abdulrahman al-Thani gave a detailed presentation about the measures that were taken to support investment as well as the economic zone projects in Ras Abu Fontas, Umm Al Houl and Al Karaana, in addition to the infrastructure, tourism and hospitality projects.

Former German MP and EMA President, Gabriele Groneberg, gave a welcoming speech in which she praised the existing relations between Qatar and Germany and welcomed Qatar's move to open the Arab Cultural House (Al Diwan) in Berlin.

She expressed hope that Germany would adopt the experiment of Qatar in dedicating a day to sport.

Gruenberg reiterated the importance of focusing on commonalities between the two countries as well as promoting trade exchange.

She added that history shows that trade is the primary activity that contributed throughout human history to nations crossing their borders and getting to know others, calling on the audience to visit the State of Qatar and learn closely about investment opportunities.

Meanwhile, Corinna Nienstedt, head of international trade affairs department at Hamburg Chamber of Commerce, reaffirmed the importance of supporting the basics of mutual economic cooperation between the two countries, noting that the State of Qatar has more than 150 companies registered in Hamburg and operating whether directly or indirectly.

Nienstedt expressed deep her deep gratitude for the State of Qatar's appreciation of German products and trust in German manufacturing.

She also pointed to the Qatari investments in her country, which provide and maintain hundreds of job opportunities in Germany.

She added that Germany is confident that the State of Qatar will overcome the current crisis, praising Doha's handling of the matter and the flexibility it showed in creating alternatives after the unjust siege was imposed.

Nienstedt said that each crisis has the seeds of solution within it.

She welcomed the upcoming visit that EMA will organise for a business delegation to Qatar.