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Satyendra Pathak/Asif Iqbal
Doha
Representatives of Qatar's private sector have welcomed the Ministry of Economy and Commerce's (MEC) decision on Saturday to remove from shops all products originating from the Saudi-led quartet that has imposed an unjust siege on the country.
Qatar Chamber (QC), the representative body of the country's private sector, said the decision was in line with the chamber's slogan"Qatar is above the siege".
QC Chairman Sheikh Khalifa bin Jassim bin Mohammed al Thani said the decision coincided with Qatar Chamber's call for a boycott of goods from the blockading countries. The chamber has been urging Qatari businessmen to terminate all imports from Saudi, UAE, Bahrain and Egypt in response to the siege.
With the wheel of growth and progress moving fast in Qatar, Sheikh Khalifa said, the blockading countries have failed to achieve its goal of destabilising Qatar.
He said the decision shows the faith of Qatar's leadership in local companies to meet the demand of the local market.
Sheikh Khalifa stressed that Qatar's private sector is more than capable to find alternatives for the goods that had come from the blockading countries.
"This unjust siege has unleashed the potential of the Qatari people and its residents. We will continue to focus on the development of national industries to reduce dependence on imports," he said.
Qatar Chamber would continue to encourage businessmen and investors to set up new industries with modern technologies, he added.
Hailing the private sector for boosting domestic production, especially in the food sector, Sheikh Khalifa said, Qatar has achieved high levels of self-sufficiency in several sectors in the first year of the blockade.
He also called on consumers and sales outlets to abide by the decision and to withdraw all products originating from countries imposing the embargo.
GWC Corporate Communications Manager Mohammad Daoud also welcomed the decision and said it would be instrumental in attracting foreign investors to Qatar to set up factories and benefit from the new legislation for 100 percent foreign ownership of companies operating in Qatar.
He said the move would eventually lead to the country witnessing the production of more high-quality products.
"The (MEC decision) shall encourage local manufacturers and entrepreneurs to start up factories and benefit from the tremendous logistical support Qatar is offering from warehousing and distribution to shipping internationally by air and sea," Daoud said.
Yousif Mousa Abuhelaiqa, a prominent Qatari investor, said,"The MEC's decision is in the right direction. We have shown considerable patience to the products coming from blockading countries, but we had to draw a line at some point. Now is the time to support our local products and encourage them to meet the local needs."
He agreed that some traders may face small losses as they have to remove all these products, but in the long run, it will be beneficial for the country.
"The losses are small when compared with the larger interest of the local economy," Abuhelaiqa added.
Welcoming the ministry's move, Al-Sulaiman Jewellery and Watches Managing Director Azim Abbas said the jewellery and watches sector in Qatar was well-prepared for a move like this.
"We have already stopped importing products from the blockading countries and removed whatever such items we had in our showrooms. Our business is not at all affected as we have found out better alternative sources to import," Abbas said.
In fact, Abbas said, the move has led the Doha-based jewellers finding better import options in Turkey, Hong Kong, India and Spain.
Abbas said many jewellery manufacturing units have also been set up in Qatar to meet the requirements of the local market.
"Jelwellery pieces manufactured in Qatar are of high quality and very popular in the local market," he said.
The ministry's move will further encourage such manufacturers to expand their business, he added.
