Over the past decade or so, the State of Qatar has witnessed remarkable economic performance which has resulted in it achieving the world’s highest economic growth rate in 2010, with an estimated real growth rate of 16.3%. The country is characterized by a dynamic economy invested heavily in both imports and exports. In 2010, Qatar’s imports were valued at USD 23.38 billion and ranged widely across industry sectors, from machinery and transport equipment to food and chemicals (see: https://www.cia.gov/library/publications/the-world factbook/geos/qa.html). Moreover, according to HSBC forecasts, Qatar is anticipating a 160% increase in its trade volume in the next 15 years, more than twice as fast as the world average of 73% (see: V Perumal, Santhosh, “Qatar trade volume to surge 160%,” Gulf Times (2011)).
With numerous large-scale internal development projects planned and underway, and a rapidly growing expatriate population, Qatar has become an attractive financial market for many foreign companies looking to do business and otherwise distribute their products. This article addresses key questions which are pertinent to parties wishing to import their goods into Qatar.
Please see full article below for more information.
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