RESTRICTED  WORLD TRADE  
ORGANIZATION  WT/TPR/G/144 
24 January 2005  
 
(05-0264) 
Trade Policy Review Body Original: English 
   
 
  
 
TRADE POLICY REVIEW 
 
Report by 
 
QATAR 
 
  
 
Pursuant to the Agreement Establishi ng the Trade Policy Review Mechanism 
(Annex 3 of the Marrakesh Agreement Establishing the World Trade 
Organization), the policy statement by Qatar is attached. 
 
 
Note: This report is subject to restricted circ ulation and press embargo until the end of the first 
session of the meeting of the Trade Policy Review Body on Qatar. Qatar WT/TPR/G/144 
 Page 3 
 
 
CONTENTS 
Page 
I. OVERVIEW  5 
II. ECONOMIC ENVIRONMENT 5 
 (1) M AJOR FEATURES OF MICROECONOMIC POLICY  5 
 (2) F ISCAL POLICY  6 
 (3) M ONETARY POLICY  7 
 (i) Qatar Money Market Rates  8 
 (ii) Repurchase Transactions  8 
 (iii) Required Reserve Ratio 8 
 (4) D OHA SECURITIES MARKET  8 
 (5) I NVESTMENTS  8 
 (i) Article (2) 9  (ii) Article (7) 9 
 (iii) Article (8) 10 
 (iv) Article (9) 10  (v) Commercial Agencies Law 10 
 (vi) Land  10 
 (vii) Corporate income tax 10 
III. TRADE POLICY  11 
(1) T
RADE LEGAL FRAMEWORK  11 
(2) T RADE LIBERALIZATION  11 
 (3) I MPORT AND EXPORT REGULATION  11 
 (i) Importing 11  (ii) Categories of customs duties 12 
 (iii) Exporting 12 
IV. OUTLOOK  13 
 (1) F
REE-TRADE AGREEMENTS  13 
(2) WTO  – DDA 14 
 
  
 Qatar  WT/TPR/G/144 
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I. OVERVIEW 
The State 
1. The Qatari Constitution provided fo r the requirements of the three organs of the state namely; 
the Executive, Legislative and the Judiciary. Each organ is independent of the other. The executive 
branch of the government is headed by the Emir and acts through the Ministerial Council headed by 
the Prime Minister. The Emir holds both Executive and Legislative power with the assistance of the Council of the Ministers and the Advisory Council.   The Constitution entrusts the Advisory Council 
with the legislative power and supervision of Executive branch and the approval of the general 
budget.  The Constitution also provides for the indepe ndence of the Judiciary from other organs of the 
state. The judiciary law has been  passed (Law No [10] 2003) which unified the civil and Sharia 
branches of the judicial system under the supervisi on of the supreme judicial council and reiterates its 
independence in articles 2 and 23.  
2. The Constitution embodied the basic principles of modern constitutions securing the 
fundamental rights of the people and their relati onships with the government, amongst themselves and 
the relation of the government with the outside world.  
3. An emerging process of democratization and development has already started with a clear 
vision of what is required to integrate in the various  systems of globalization. This is evident in the 
election systems for both the Advisory Council a nd the Doha Municipality and the commitment and 
resolve of the political leadership to enc ourage public participation in that respect. 
4. Various inter-governmental councils and comm ittees are established to coordinates and 
follow up these developmental programs and proj ects. For this purpose the government has 
established planning council to overseas inter-gove rnmental programs in each ministry. All these 
point to the aforementioned commitment and its underpinning clear vision.  
II. ECONOMIC ENVIRONMENT 
(1) M
AJOR FEATURES OF MICROECONOMIC POLICY  
5. The goal of Qatar’s economic policy is to achieve  sustainable economic growth in partnership 
with the private sector. The main objectives of Qatar economic policy are:  promote economic growth, 
increase the economy’s resilience and competitiven ess, diversify the economy, create the right 
investment climate, strengthen the private sector and increase its role in the economy. 
6. The main elements of Qatar Economic polici es are: The liberalization of the economy and 
trade; reduction of tariffs and removing restricti ons in line with its commitment to WTO, increasing 
and diversifying exports; creating better access to  world markets, enhancing trade cooperation by 
signing bilateral economic, commercial and technical  co-operation agreements; establishing free trade 
areas, customs union with GCC countries and ne gotiating free trade agreements (FTAs).  
7. Qatar’s GDP growth has been rapidly rising in recent years, averaging 14.7% over the past 
five years, with the increased of the LNG and related industries providing for the overall positive 
trend in GDP growth. In 2003 the GDP grew by 3.8%  compared to marginal growth of 0.8% in 2002. 
In 2003, the Oil & Gas sector in creased by 12.9%, while the non-oil sector have increased by 3.2%. 
8. The fluctuation of oil price, as well as decrea sing of oil reserves, has led the Government to 
exploit Qatar’s significant reserves of natural gas an d to promote investment in the non-oil sector of 
the economy. With the recent development of project s to produce and export Natural gas in the form WT/TPR/G/144 Trade Policy Review 
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of LNG, piped gas, GTL and investments in petroc hemical and fertilizers industries, Qatar has been 
successful in diversifying its revenue base by reducing its historic de pendence on oil exports 
revenues. Although economic perform ance is still largely dependent on oil revenues, the contribution 
of LNG has increased significantly over the past few years. The share of the oil and gas sector in over 
all GDP stood at 56.0% in 2001, 57.6% in 2002 and preliminary estimates put it at 59.8% in 2003. 
9. The budget of 2004 – 2005 compared to last year budget shows 44% increase in the allocation 
to public projects in areas like health, education,  housing, sanitation and infrastructure. As for the 
infrastructure, the Government’s priority areas ar e electricity, water, roads, sewage system and 
transport.   
10. Privatization Program: A number of public ente rprises have been privatized (QTEL). Qatar 
Petrochemical Company (QAPCO), Qatar Steel Company (QASCO), Qatar Fertilizers Company 
(QAFCO). Government has contracted out the provision of certain public services (Airport and the public authority of tourism awarded to Qatar Ai rways). Structure capital market encouraging 
investment and privatization programme. 
11. To share this with the future generation, Qata r has created a number of funds which may be 
listed as follows: 
− Oil stabilization fund;  
− Qatar foundation fund;  
− Housing fund;  
− Land and industrial fund;  and  
− Government reserve. 
 
(2) FISCAL POLICY  
12. Given the structure of the domestic economy in Qatar, Fiscal Policy has had an overwhelming 
impact on the domestic economy.  However, with the successful expansion of oil & gas output, the 
economy has moved away from virtually total reliance on fiscal policy as the source of effective demand. 
13. Fiscal policy plays a multi-faceted policy role with a balancing act required between the 
various objectives, as: 
− It still represents a major share of total effective aggregate demand;  
− It is one of the main tools used to achieve  optimum utilization of natural resources;  
− It is the first line of defence in countering th e economic impact of volatile international oil 
prices;  
− It is the primary policy tool used to raise the standard of living in Qatar;  and 
− Given the small size of the private sector, it is  the source of infrastructure development. 
 14. Fiscal policy has evolved dramatically to cope with the challenges presented by globalization, 
the volatility in oil prices, etc.  For instance, an 'o il stabilization fund' has been set up.  This fund has 
the sole objective of helping to insulate the Qata ri economy from volatile move ments in international 
oil prices. A unique principle in the operational pr ocedures of this fund is that the Stabilization fund 
will buffer the economy against low oil prices by bei ng drawn upon to maintain budgetary targets, but 
that the funds drawn upon will be de emed to have been lent to the budgetary authorities rather than 
being direct transfers.  This will ensure that the Stabilization fund will be a source of 'last lender' for 
the budget. Qatar  WT/TPR/G/144 
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15. In order to ensure a smooth development of th e health and education sectors, special funds 
have been established so that fiscal policy ti ghtening does not lead to adverse impact on these 
important aspects of the economy. 
16. To achieve this two separate funds have been set up: 
− The Qatar Foundation Fund (QFF):  the main obj ective of the QFF is to finance higher 
education in Qatar.  Part of its objective is  that this higher education must be of an 
internationally respected standard.  To this end,  QFF has entered into affiliations with some of 
the most respected educational institutions. 
 
− The Health and Education Fund (HEF):  the HEF has only been set up this year, and its 
objectives are clearly to invest in further improving the level of healthcare and primary 
education in the country. 
 17. The primary source of revenue for the national budget is of course the oil and gas activities of 
Qatar Petroleum (QP).  The Ministry of Finance receives royalties and tax revenues on export sales of 
crude oil, refined products and gas products.  Since the government has a direct and indirect 
ownership interest in QP other industrial ente rprises, it receives a dividend from these like any 
investor would.  Non-oil revenues are not incon sequential, and include custom duties and public 
utility fees. 
18. Preliminary data for the fiscal year 2003/04 in dicates that the national budget recorded a 
surplus of over QR 3bn., with total expenditure of about QR 27bn., being offset by revenues of about 
QR 30.7bn.  The main items of expenditure were  wages and salaries of government employees, and 
development of the infrastructure.  The budget fo r 2004/05 envisages total revenues of QR 26.2bn and 
total expenditure of QR 28.4bn.  This imp lies a budgeted deficit of QR 2.2bn for 2004/05. 
19. However, the national budget is set with very  conservative assumptions, including those of oil 
prices.  As such, barring a substantial collapse in o il prices from current levels, it would be surprising 
if the outcome for 2004/05 is not a surplus once again.   This highlights one of the key aspects of fiscal 
policy in Qatar, that of setting and following a prudent and conservative fiscal policy in order to 
safeguard the economy from being jolted by global volatility. 
(3) M
ONETARY POLICY  
20. Since its establishment in 1993, the Qatar Cent ral Bank (QCB) has inherited its monetary 
strategy of exchange rate targ eting from Qatar Monetary Agency .  The fixed parity between the 
United States Dollar (USD) and the Qatari Riyal (Q R) at the rate of QR 3.64 per dollar was the 
inherited nominal anchor, which is still effective.  The de facto exchange rate targeting monetary 
policy regime as well as the target peg has been de ju re authorized by an Amir i decree issued in July 
of 2001.  The heritage has been constantly honour ed and the target peg has always been highly 
credible.  Equally, QCB monetary policy has had to be  subordinated to its exchange rate policy, where 
sustaining equilibrium in the domestic USD exchange ma rket at the fixed exchange rate is the primary 
objective of the monetary policy drawn and implemen ted by the QCB.  Thus, QCB monetary policy is 
necessarily accommodative. Appropriately the QCB endeavours to strengthen the monetary stability in the country via stabilizing domestic interest rate s.  Therefore, QCB utilizes alternative monetary 
instruments at its disposal to maintain short-run in terest rate on QR determined by QCB, such that 
changes in domestic interest rates are synchronized with developments in the interest rates on the 
USD and the other major currencies.  Within this  policy framework, the QCB endeavours to regulate WT/TPR/G/144 Trade Policy Review 
Page 8 
 
 
primary liquidity in the banking system, so as to maintain monetary stability and the stability of 
domestic price levels. 
21. There are three monetary instruments to infl uence domestic liquidity, these are as follows:  
the Qatar Money Market Rates, the Repurchase Transactions, and the Required Reserve Ratio. 
(i) Qatar Money Market Rates (QMR) 
22. Under the QMR mechanism; which started at the beginning of the second quarter of 2002, 
QCB extends overnight lending to, and accepts overni ght deposits from local banks subject to formal 
ceilings and interest rates determined by QCB.  Both borrowings and deposits are extendable to next 
day-rollover where transactions are electronically executed.  QCB sets initial interest rates on lending 
and deposits transactions at the beginning of each bu siness day.  Henceforth, the path of each rate 
over the course of the day is influenced by the e volving conditions of the primary liquidity in the 
banking system.  As such, the QMR mechanism is a flexible standing facility.  These facilities are 
characterized by: (1) they are us ed at the initiative of the indivi dual banks; and (2) carry preannounce 
interest rates (though flexibly adjustable). 
(ii) Repurchase Transactions (Repo) 
23. Repurchase Agreement takes the form of purch ase and repurchases transactions (Repo).  
These comprise the purchase of financial assets by the central bank under a contract providing for 
their repurchase at a specified price on a given futu re date and are used to supply liquidity.  This 
monetary market instrument was adopted by the QCB starting 2000 for the purposes of influencing liquidity levels within the banking system, hence influencing interest rates on deposits and credit 
facilities. 
24. Repurchase Agreement Repo's are conducted by Q CB in domestic government securities, that 
is, loans backed by domestic financial assets.  Repur chase Agreement rate is the implicit interest rate 
determined by QCB for local banks to repurchase th e government securities that they have previously 
sold to QCB with precommitment to repurchase by the end of the repurchase period (limited to two 
weeks or one month in accordance with circular No. 49 for 2002.). 
(iii) Required Reserve Ratio (RRR) 
25. The Required Reserve Ratio (RRR) is utilized by  QCB for monetary and prudential purposes.  
The RRR was set at 2.75% by the QC B for all types of deposits since 2000.  The ratio is computed on 
basis of the daily average of the total deposits with the bank.  The required reserves deposits are 
unremunerated by the QCB. 
26. The currency of Qatar is the Qatari Riyal.  It is pegged at the rate of 3.64 for one US dollar. 
(4) D
OHA SECURITIES MARKET (DSM) 
27. The DSM functions under the supervision of th e Ministry of Economy and Commerce and is 
now subject to a major restructuring process; lega l, administrative and operational. A law for these 
purposes has been prepared. 
(5) INVESTMENTS  
28. The commitment of Qatar to development and its  vision in that respect goes without saying. 
The manifestations of this can be seen in: Qatar  WT/TPR/G/144 
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− Building infrastructures, the various utilities and IT.  
 
− Developing the natural resources, especially oil and gas products and by-products for 
investment purposes and starting various lines of production in these fields especially gas fuelled and hydrocarbon industries. 
 
− Doing everything possible to attract investors to  come to Doha as a suitable spot for their 
projects. 
29. Part of this is done through legislation, ch ief among these is the Constitution, Judiciary law 
and the Law No [13] 2000 regulating the investme nt of foreign capital in economic activities and 
confers on investors the following privileges. 
(i) Article (2) 
30. Subject to the provisions of paragraph (3) of th is Article, foreign investors may invest in all 
the sectors of the national economy provided that they  have one or more Qatari partners whose share 
is not less than 51% of the capital, and provided th at company is properly in corporated in accordance 
with the provisions of the Law. 
31. Nevertheless, the Minister may issue a decree a llowing foreign investors' share to exceed 49% 
up to 100% of the project's capital, in the sector s of agriculture, industry, healthcare, education, 
tourism, exploitation and development of natural resources, energy or mining provided that these 
projects are compatible with the development plans in the State and taking into account preference of 
projects that achieve optimal exploitation of the av ailable domestic raw materials, export industries or 
industries that provide new products or use modern  technology, projects that settle globally well-
known industries, and projects that take inter est in national cadres and their rehabilitation. 
32. The foreign investments referred to in paragraphs  (1) and (2) are not allowed to invest in the 
banking sector, insurance companies, commercial agen cies and the purchase of real estate. According 
to Law (31) 2004 investment in banking and insurance may be authorized by a decisions of the Council of Ministers. 
(ii) Article (7) 
33. The ministry may:  
− Exempt the foreign capital invested in sectors re ferred to in Article 2 of this Law from income 
tax for a period not exceeding 10 years starting from the date of operating the investment project;  
 
− Exempt the foreign investment projects from cu stoms with respect to the needed imported 
equipment and machinery for its establishment;  and 
 
− Exempt the foreign investment projects in indu stry from customs with respect to imported 
raw materials and semi-manufactured products  necessary for the production, which are not 
available in the domestic markets. 
 WT/TPR/G/144 Trade Policy Review 
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(iii) Article (8) 
34. The foreign investments shall not be subject, eith er directly or indirectly, to expropriation or 
any measure with similar effect, unless it is done in the public interest and in a non discriminatory 
manner, and in return for a speedy and appropriate  compensation in accordance with legal procedures 
and the general principles referred to  in paragraph 2 of this Article. 
35. Compensation shall be equivalent to the real economic value of the expropriated investment 
at the time of expropriation or of its announcement.  Such compensation shall be assessed on the basis 
of normal economic situation and prior to any threat  of expropriation.  The due compensation shall be 
paid without delay and shall enjoy free transfer.  This compensation shall be subject to interest, 
calculated on the basis of the prevailing rate in the State, until date of payment. 
(iv) Article (9) 
36. Foreign investors are free to make all transfers re lated to their investment, into and out of the 
country without any delay.  These transfers include: 
− Investment returns;  
− Proceeds resulting from selling or liquidating th e whole or part of the investment;  
− Proceeds resulting from the settlement of investment disputes;  
− Compensation referred to in Ar ticle 8 of this Law;  and 
− Transfers are affected in any convertible curre ncy at the rates prevailing on the date of the 
transfer. 
(v) Commercial Agencies Law  
37. Though most foreign companies are required to  engage a local agent except where the 
company is authorized to have 100% ownership howe ver, according to the law any person can import 
a commodity in respect of which there is an exclus ive agency subject to payment of 5% of commodity 
value to the exclusive agent. 
(vi) Land 
38. In addition to the acquisition of lands provide d for in Article (5) of Law (13) 2000, at a 
nominal price, Law No 17 for 2004 authorizes the c ouncil of ministers to designate lands within the 
Khaleej Island, West bay lagoon (Lake) and Al-Khor resort to be allotted to foreign investors in 
accordance with the terms, conditions and pro cedures provided by the council of ministers. 
39. Residential plots are designated and allotted in the same way. The title in each case is 99 
years renewable 
(vii) Corporate income tax 
40. Qatari’s are exempted from this and it does not apply to foreign companies which pay 
between 5% and 35% of their net profit as income tax. Qatar  WT/TPR/G/144 
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III. TRADE POLICY 
(1) TRADE LEGAL FRAMEWORK  
41. The main Legal and regulatory policies are to: develop sustainable pragmatic and transparent 
laws and regulations; develop legal regulatory fra meworks to include:-company licenses, registration 
and certification procedures, market supervisi on, consumer protection, introduce legislation 
promoting competition, as well as local and foreign investment. 
42. The Legal Framework for Trade comprises the following laws: 
− Commercial Agency Law (No. (8) 2002); 
− Commercial Companies Law (No. (5) 2002); 
− Customs Law (No. (40) 2002); 
− Intellectual Property Law (No. (7) 2002); 
− Gov. Procurement Law (No. (08) 1976); 
− WTO Agreement (Decree No. (24) 1995);  
− Foreign investments Law No. 13 of 2000; 
− Intellectual property Law No. 7 of 2002; 
− Consumer protection Law No. 40 of 1988;  and 
− Tax Law, Customs Law, Agency Law. 
 
(2) TRADE LIBERALIZATION  
43. As far as tariffs are concerned the Law No [4 1] of 2002 set the tariffs rate at 5% which 
applies indiscriminately (except) in relation to me mbers of the GCC. This meets the liberalization 
commitment of Qatar as far as tariff barriers ar e concerned. Improvements in other fields would 
require the provision of assistance, capacity building and sufficient time for that to bring about the 
required results. Debates and discussion regarding the application of article VIII and X of WTO 
Agreement are good examples to illuminate difficulties generally facing developing countries in this 
regard. Discussions and difficulties experienced by  members of developed countries regarding the 
application of this article well illuminate the diffi culties confronting developing countries in the south 
in this regard. 
(3) IMPORT AND EXPORT REGULATION  
44. The main purpose of Customs Law is to confir m:  (1) simplicity;  (2)  transparency;  
(3) justice;  (4) to ensure that this Law is in lin e with the provisions of the international agreements 
relating to customs. The amendments of this law included all articles related valuation of the goods 
according to the GATT agreement article VII of the WTO agreement. Procedures have been taken to 
insure the implementation of this article since 1/1/2002. 
(i) Importing  
 
45. Documents to be attached to the custom declaration: 
− The custom declarations of the neighbouring countries for goods originating from them are 
exported through their ports or transiting th rough them by land to other countries;  
 
− The sea bill of landing from the carrier or the sh ip’s agent for goods that are imported through 
one of country's ports;  WT/TPR/G/144 Trade Policy Review 
Page 12 
 
 
− The air way bill for goods that enter the country by air and statement of load for goods that 
are imported by road; 
 
− Arab transit declaration for goods for goods that are imported from non-neighbouring Arab 
countries;  
 
− The certificated purchase list (invoice) to include number of parcels, their type, signs numbers 
and the quantity of goods, their gross weight a nd net weight along with the name of consigner 
and consignee;  
 
− Certified and valid certificate of origin duly pr epared according to the provisions of law and 
origin regulations that are agreed upon with the frame work of economic and regional organization;  and 
 
− Application for taking out goods stored in free zones (for goods to be imported from free 
zone). 
 
(ii) Categories of customs duties 
46. Goods that exempted from customs duty:   
− Goods exempted from customs duty according to the unified customs system law for the 
council states and which are exempted from the unified customs tariff for council states as greed by them;  and 
 
− Goods that are exempted from customs duty accordin g to bilateral agreements with one of the 
council states. Such goods should not necessarily  be exempted in other member states. 
 
47. Other goods shall be subject to customs duty at the rate of 5%. 
48. Custom duties for the import of tobacco and its  derivatives are 100% of the cost provided that 
the duty should not be less than wh at is mentioned in appendix (1). 
49. High customs duty goods:  all kinds of alcoholic drinks (100%). 
50. Protection duties now valid in Qatar shall be co llected during a period of three years ending in 
2005. 
51. Types of goods that are subject to protection:  iron from 10mm to 32mm – percentage of duty: 
20%.   
(iii) Exporting 
52. Documents to be attached: 
− Customs export declaration to be prepared by the export;  
− Bill of landing from the approved shipping agent (if the goods are to be exported by air);  or 
airway bill from the Airline Agent (if the goods are to be exported by air);   
− The Manifest;  and 
− The Invoices of the goods concerned. Qatar  WT/TPR/G/144 
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IV. OUTLOOK 
(1) FREE-TRADE AGREEMENTS  
53. In accordance with the principles and the objec tives of the World Trade Organization and its 
emanated agreements, the State of Qatar, and since the mid-nineties, has been studying the 
opportunities to develop and to e nhance economic cooperation and inte gration with different countries 
in different areas and regions aiming to establish mu tual Free Trade Agreements with those countries. 
54. A tangible progress was achieved in this prospect , bilaterally and collectively within the GCC 
countries, through the following major pivots: 
− In the Gulf Cooperation Council , the State of Qatar has taken effective steps to deepen the 
cooperation among the members of the GCC.  Such  efforts resulted the establishment of the 
Custom Union by the beginning of the year 2003;   
 
− Cooperation with the Arab Countries :  Qatar correlates with those countries by several 
economic cooperation agreements like establishi ng the great Arab Free Trade Area gradually 
during a transitional period until 2008.  Qatar c ontributed to the efforts to reduce that length 
of that period to be in 2005 instead;   
 
− Cooperation with the USA :  In preparation to establish Free Trade Area between the two 
countries, negations in March 2004 resulted signi ng a frame agreement to develop trade and 
investment relations.  The agreement includes th e establishing of a mutual council to carry out 
the following main tasks: 
 
• To monitor trade and investment relations, to identify opportunities for expanding 
trade and investment and to identify issues rele vant to trade or investment that may be 
appropriate for negotiation in an appropriate forum;   
• To hold consultations on specific trade and investment matters of interest to the 
parties;  and 
• To identify and work toward the removal of impediments to trade and investment 
flows;  
 
− The cooperation with the European Union :  Qatar participates actively in the ongoing 
negotiations between the GCC and the European  Union to establish Free Trade Area between 
the two sides. 
 
• The detailed negotiations covered several axis like: 
• The exchange of industrial products, agricultural and processed agricultural 
products, fish and fish products;  
• Intellectual Property;  
• Disputes Settlement; 
• Rules of Origin;  
• Government Procurements;  and 
• Institutional Arrangements. 
• Soon, detailed negotiations will cover the services sector;  WT/TPR/G/144 Trade Policy Review 
Page 14 
 
 
− Cooperation with Singapore :  In September 2004, the two countries held a meeting where 
they agreed on the future prep aratory steps to negotiate the establishment of a free trade area;  
 
− Cooperation with China , India and Pakistan : In August 2004, a frame agreement was 
signed between the GCC and China for economic cooperation.  This agreement is an initial 
step to prepare for the establishment of a fr ee trade area between the two sides.  Qatar 
contributes effectively to the preparations. Similar arrangements have been taken to establish 
a free trade area with India and Pakistan;  and 
 
− Cooperation with Australia and MERCOSUR :  In coordination with the general secretariat 
of the GCC, Qatar is taking serious steps to st art Preparatory talks to establish free trade areas 
with Australia and MERCOSUR.   
(2) WTO  – DDA 
55. Qatar's main interests and concerns on the DDA include the elimination of agriculture 
subsidies, greater access to non-agricultural products , and the free movement of natural persons.  In 
this regard, Qatar has called on deve loped countries to "liberalize trade at a faster rate by removing 
the various obstacles that have so far deprived the developing countries of their right to enjoy 
international trade relations on equal opportunities". Moreover, Qatar has indicated that "there should 
be agreement on specific measures to ensure suffi cient financial flows to developing countries, 
especially FDI, to assist them in building the pr oduction capacity they need to compete on the world 
market".  
56. Qatar has bilateral trading agreements with many countries. Under these agreements, Qatar 
and its Partners accord each other most favoured nation treatment in all matters relating to their 
mutual trade relations. 
57. WTO Agreement has been in cooperating within  the Qatari Law by (24) 1995 and it is 
thereby part of the Qatari Law.  
58. With regard to the process of implementation of the Uruguay Round results, the Government 
of Qatar has established a National Committee com posed of representatives of competent relevant 
ministries and authorities and by the Minister of  Economy and Commerce to oversea on regular basis 
Qatar commitments. 
59. The trade policy and business environment in Qa tar today offers investors myriad attractive 
incentives, in addition to a stable macroeconomic en vironment, a liberalized trade atmosphere and a 
freely convertible currency with full rights to affect all transfers abroad. 
 
 
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