Qatar’s Emir: Gulf crises will pass, but economy is stronger

Qatar’s Emir Sheikh Tamim bin Hamad Al Thani said he regrets the continuation of conflict with other Arab states, but added that “crises will pass”, outlining the nation’s economic achievements over the past year.

The country would continue to develop its oil and gas industries as it is keen to preserve its status as the top liquefied natural gas exporter in the world, Tamim said in a speech to the Arab state’s shoura council.

Tamim added that Qatar had grown its exports by 18 percent last year and slashed spending by 20 percent.

On June 5, 2017, Saudi Arabia, the United Arab Emirates, Bahrain and Egypt severed diplomatic and trade relations with Qatar, closing land, air and sea links, as they accused Doha of supporting terrorism and violating a 2014 agreement with members of the Gulf Cooperation Council (GCC).

Qatar denies all allegations raised by the quartet.

The Gulf nation’s currency has preserved its value since the start of the rift and the economy has diversified to overcome the impact of the sanctions imposed by its neighbours, Tamim said in his speech on Tuesday.

Addressing the conflict between the GCC nations, Tamim said: “The deterioration of Gulf relations weakens our ability to solve regional problems”.

SOURCE:
Al Jazeera and news agencies