Qatar's Economic Policy and Foreign Trade Relations

Ljudmila Nikolaevna Rudenko
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Ljudmila Nikolaevna Rudenko: The Institute of Oriental Studies, the Russian Academy of Sciences

Russian Foreign Economic Journal, 2020, issue 9, 93-105

Abstract: The article examines the features of Qatar’s economic policy and foreign trade relations after the fall in global oil and gas prices in the second half of the 2010s, as well as their decline in 2020 due to the coronavirus pandemic (COVID-19) that affected a significant number of countries of the world. Given the strong dependence of Qatar on the production and exports of hydrocarbons, primary natural gas, the country has faced serious economic problems due to the depressed global energy market. Therefore, the author pays special attention to the measures taken by the government to overcome the plunge in oil and gas export revenues. Besides, the author focuses on the analysis of the tools to stimulate the development of the sectors not related to hydrocarbons production (construction, infrastructure, the service sector, including financial services and insurance, real estate, education, healthcare and etc.), as well as the industries using hydrocarbon raw materials (oil refining, petrochemical industry, fertilizer production and etc.). Furthermore, the steps of the Qatari authorities to minimize the consequences of COVID-19 for the economy are considered. The article focuses on the analysis of structural reforms undertaken by the Qatari government in the 2010s, in particular, aimed to improve the financial system and the investment climate. In this regard, the state and prospects for trade and investment cooperation between Russia and Qatar are examined.

Keywords: Qatar economy; decline in oil and gas prices; COVID-19 pandemic; government policy; overcoming economic consequences; investment climate; Russian-Qatari economic cooperation (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:alq:rufejo:rfej_2020_9_93-105

DOI: 10.24411/2072-8042-2020-10094

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