Qatar has taken all necessary procedures to counter the effects of the blockade imposed upon it by the siege countries, the Minister of Economy and Commerce Sheikh Ahmed bin Jassim bin Mohamed al-Thani said yesterday.
The Minister, who met a number of heads of international trade and economic organisations in Geneva, Switzerland, said Qatar has taken steps to maintain the stability of the local market and the flow of goods into the country.
Discussing the implications of the crisis, the Minister pointed out that the Saudi-led bloc imposed the blockade against Qatar without any warning.
Qatar’s gross national savings, equivalent to 56 percent of the country’s GDP, is the highest in the world.
The blockading countries closed land, sea and air routes to Qatar, banned the passage of Qatari aircraft, and prevented ships carrying cargoes and goods for Qatar at their country’s ports from proceeding to Qatar, in addition to banning any exports of their national products to Qatar.
They also banned their banks from dealing in Qatari riyal and did not allow cargo or postal services to or from Qatar.
Sheikh Ahmed bin Jassim stressed the strength of the Qatari economy and its ability to face and overcome difficulties and challenges.
Sheikh Ahmed and the accompanying delegation met a number of lawyers working for a legal firm specialising in World Trade Organisation cases. A contract was signed with this firm to study the illegal procedures taken by the blockading countries against Qatar.
He also held meetings with Roberto Azevedo, director general of the World Trade Organisation (WTO); professor Klaus Schwab, president of the World Economic Forum (WEF); and Dr. Francis Gurry, director general of the World Intellectual Property Organisation (WIPO).
Sheikh Ahmed further affirmed that Qatar would take all necessary legal procedures to sue the blockading countries and take steps to demand compensation for the losses incurred by the Qatari private sector.
