The State of Qatar has a competitive advantage that relies on firm pillars represented in the institutional frameworks with global efficiency, stable economic environment, and possession of an effective commodity market. The most characteristic of the Qatari economy is the maintenance of its rapid growth, as it has become one of the fastest-growing economies in the world thanks to the economic policies it pursues. Country.
Ministry of Commerce and Industry
The Ministry of Trade and Industry is responsible for supervising commercial and industrial activity, directing it in accordance with the requirements of national development, working on developing businesses, contributing to attracting investments, supporting and developing exports, developing methods and procedures for providing public services to the business and investment sector, supervising the practice of commercial professions, and registering and registering commercial establishments And investment, and the issuance of the necessary licenses to carry out its activities, overseeing the regulation and control of markets in its field of competence, and taking the necessary measures to protect consumers, combat commercial fraud, protect competition, prevent monopolistic practices, protect intellectual property rights, set a general policy for industrialization and develop national industries, and develop and exploit industrial areas affiliated with it And a proposal to establish new industrial zones
The European Union group is considered the most important trading partner of the State of Qatar due to the relative share of Qatari imports from this group being ranked first among all economic blocs. Qatari imports from North American countries are ranked fourth in terms of their share, and Qatari imports from the United States of America occupy the largest share of This quota.
Exports in the country have shown positive growth due to the high prices of Qatari exports of oil, and the goods necessary for the development of industrial infrastructure enjoy import conditions exempt from customs tariffs, as is the case for food products and personal belongings, and there is an import tax of (4%) only on most other commodities, while Protection duties are imposed on products that compete with locally produced materials, while goods manufactured in the Gulf Cooperation Council countries are exempt from customs duties.
These include 20% on imported iron and steel and 30% on urea. Tariffs are 50% on tobacco and 15% on CDs and musical instruments.
Qatar Chamber of Commerce and Industry
The Qatar Chamber of Commerce and Industry was established in 1963, and the appointment of members of the board of directors continued to take place by virtue of an Emiri decree until Law No. 11 of 1996 was issued which made the selection of board members through direct election.
The chamber is concerned with collecting information and statistics of interest to workers in the field of trade, industry, and agriculture, as well as providing government agencies with the data, information, and opinions they request related to commercial, industrial and agricultural matters, as well as expressing an opinion in an advisory capacity in the establishment of stock exchanges, markets, trade, industrial and agricultural exhibitions.
Qatar is fully integrated into the free international trade and economy system, it is a committed member of the World Trade Organization, it is also a member of international financing bodies, and it is characterized by a good banking sector, so there are no restrictions on transferring capital abroad, which makes it a free trade zone through which investors can Achieve significant financial profits.