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Minister of Commerce and Industry HE Ali bin Ahmed al Kuwari has emphasised the importance of global interdependence amid ongoing international trade uncertainties and tensions.
“Thanks to globalisation the world has turned into a small village where no country can thrive in isolation,” he noted.
Kuwari delivered his remarks during a session entitled ‘Prospects for International Trade and Investment’, on the second day of the Doha Forum.
The minister urged the world to move forward with the Doha Development Agenda, which sets ambitious objectives that serve both developing and developed countries.
“While national interests should be considered, the dynamics of globalisation should not be ignored, especially since no country can prosper alone,” he pointed out.
Despite the exceptional circumstances currently surrounding Qatar, which has been under a siege for one and a half years, Kuwari said the country has strengthened relations with its global partners, putting up an excellent performance as evidenced by its remarkable economic growth this year.
Qatar’s foreign trade has also risen by 16 percent despite the siege, he said, noting that Qatar has accomplished a great deal during this period.
The lessons that Qatar has acquired over the past 18 months would have taken a considerable period of time to assimilate, but numerous opportunities were created within the framework of the Qatar National Vision 2030 to accelerate the vision’s implementation, Kuwari said.
He said Qatar has opened up to the world and engaged the international community, which has reacted positively, noting that globalisation and national interests should go hand-in-hand.
Qatar’s openness to foreign companies looking to invest in the industrial sector is an essential part of the long-term journey that Qatar is pursuing, he said, adding that these policies were unrelated to the blockade and adopted prior to the siege.
However, the unjust blockade has accelerated the implementation of these policies, the minister said, and added that Qatar has adopted numerous measures to weather the situation, starting with raising its LNG production capacity, the future of energy in the world.
Touching on the World Trade Organisation (WTO)’s role in enhancing the prospects of international trade and investment, Kuwari said WTO rules should not be set in stone.
“The world is changing, and opposing changes to WTO rules is incompatible with current developments and global openness,” Kuwari said.
He noted that the WTO’s concept was linked to creating a fair trade environment. Therefore, the organisation’s rules can easily be amended to promote efficient procedures and decision-making to ensure the commitment of all parties to ratified agreements within the WTO’s framework.
The minister stressed the importance of respecting WTO rules, and establishing a binding and effective dispute resolution system or platform to quickly and effectively settle issues.
In this context, Kuwari pointed to recurring violations against Qatar after the broadcasting rights and copyrights of beIN SPORTS group were infringed upon by a Saudi Arabian TV channel.
A formal complaint was filed to the WTO, Kuwari said, stressing the importance of respecting the rules, regulations and agreements signed under the umbrella of the WTO.
Responding to a question about Qatar’s preparations to host the 2022 FIFA World Cup, the minister said, “In my opinion, we are past the stage of dealing with the consequences of the siege, and are now in the process of developing and planning the next phase. Qatar has proved its resilience and ability to operate under any circumstances.
“We are not looking back but are seeking new opportunities. The 2022 FIFA World Cup is only a milestone in Qatar’s journey. The Qatar National Vision 2030 is key to our transition from an oil-based economy to a knowledge economy which, along with investments, represent pillars of Qatar’s strategy.”
The session brought together Volker Trier, deputy CEO of the Association of German Chambers of Commerce and Industry, and Stephane Garelli, former director of the World Economic Forum and Professor at both the International Institute for Management Development (IMD), and at the University of Lausanne.
The session was moderated by John Defterios, CNN Business’ Emerging Markets Editor and Anchor.
Garelli said he believed the WTO ought to reform itself, noting that the organization cannot distance itself from a global economy structured around value chain.
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18/12/2018
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