During a recent lecture at Carnegie Mellon University in Qatar (CMU-Q), HE Ali bin Ahmed Al Kuwari, Minister of Commerce and Industry, highlighted the importance of diversification and self-sufficiency in the economic development of Qatar.
The minister noted that Qatar’s response to the blockade of June 2017 has resulted in significant, positive changes to the economy.
The blockade was a good thing for Qatar. We have achieved so much that we would not have achieved without it.’
Over the past two years, Qatar’s total exports and foreign trade have witnessed noticeable growth, while food production and local manufacturing have drastically increased. Qatar has successfully adopted many food security initiatives that has directed the country toward self-sufficiency.
CMU-Q Dean Michael Trick said that it is important students hear directly from the minister the ways (that) the Qatar business community has adapted in the wake of the 2017 blockade.
We have many aspiring business leaders studying here, and the minister succinctly outlined how industry can thrive in times of adversity.’
The minister discussed the initiatives that will foster a favourable business climate in Qatar and encourage international trade. He also praised Qatar’s logistics capabilities, noting how well several industries have relied on Hamad International Airport and Hamad Port to manage a sudden spike in the inflow of goods to the country. The minister noted that Qatar has successfully established direct commercial routes with a number of strategic hubs around the world and, since the blockade, trade has been diverted to major trading partners.
The minister’s talk was the first CMU-Q Dean’s Lecture Series for the 2019-20 academic year. For more information, visit qatar.cmu.edu.