By Satish Kanady
DOHA: Qatar is keen on strengthening international multilateral trading system. The country’s decision to open an office the Ministry of Economy and Commerce at the World Trade Organisation’s headquarters in Geneva is a strong reflection of this commitment, Minister of Economy and Commerce H E Sheikh Ahmed bin Jassim Al Thani stated yesterday.
In a meeting with the visiting WTO Director-General Roberto Azevedo, the Minister reiterated Qatar’s commitment to active participation in WTO activities.
In a communique issued later, WTO Director-General said Qatar has a solid vision for its people and economy and WTO can support Qatar in a big way to realise the country’s economic goals.
“Qatar has a solid vison for its people and its economy. Trade and the WTO have already helped to implement this vision and will continue to do so. In light of Qatar’s vision for the country to become a trade and financial hub, reducing the time and cost of moving goods across the border can make a big difference,” said Roberto Azevedo.
The WTO’s new Trade Facilitation Agreement, concluded at our Ministerial Conference in Bali in 2013, is designed to help with exactly this problem. By making trade flow more easily, this agreement can also support Qatar’s economic diversification and focus on services. However, in order to benefit from the agreement, first it must be ratified. This is one immediate and very positive step that Qatar could take,” he said.
Another area of interest for Qatar is the WTO’s Information Technology Agreement.
This agreement was expanded by a group WTO members during our Ministerial Conference held in Nairobi, Kenya, just three months ago. This deal will eliminate tariffs on 201 additional IT products, trade in which is worth around $1.3 trillion each year — that’s 10 percent of global trade.
This is larger than global trade in automotive products. The expanded agreement will lower the costs of doing business for companies of all sizes. It will support lower prices — which will help many other sectors using IT products as inputs — and, again, it will help create jobs. For Qatar, as a member of the original Information Technology Agreement, this expanded agreement is potentially very fruitful.
“As we look ahead to 2016, and beyond, we need to work towards further trade agreements which enhance growth and development in Qatar and across the Gulf Cooperation Council. WTO members want to deliver more results, more quickly. It is clear that all of our members want to tackle the big, outstanding trade issues. A debate is currently under way about the precise shape that this work should take. After my meetings here today, I am confident that Qatar will make its voice heard in this debate to help us deliver further, much-needed reforms to global trade rules.”The Peninsula
