End of Qatar's Diplomatic Blockade
Ever since Salman learnt about Qatar and the neighbouring countries working towards ending their differences, he has always supported it. Qatar's diplomatic crisis began in 2017. This diplomatic crisis, at that time, came as a massive blow for Salman's notion of expanding his import-export business. But even during this setback, Qatar has been rerouting its modes of income and has been progressing steadily. Qatar’s government opened up doors for establishing new businesses in the country. PRO services can be used to setup companies and to help with legal formation of entity. Small and medium sized enterprises are thriving in Qatar, as the country has decided to diversify its modes of income, keeping Qatar’s Vision 2030 in mind.
This has led to a lot of hindrances to Salman's business. Since all the proper modes of transport were disturbed, the import and export sector of Qatar and the businesses based on this sector, like his own business, were forced to find alternative air and sea routes to ship their cargo. Qatar has a vast array of imports and a comparatively smaller array of exports. The imports range from everyday goods to luxury goods. Salman learnt that Qatar has opened up new sea routes and has made ties with many Asian countries, with the goal of expanding its boundaries in this particular sector. If Qatar and the neighbouring countries are working towards solving their stalemate, it would mean that Qatar's most important ports like Jebel Ali port will open up for them again.
Qatar, during the crisis, has used it in their favour, using this problem to focus on different trade opportunities all over Asia. Japan, South Korea, and India are Qatar’s top three trading partners.
He realized that soon Qatar's ships would be allowed to enter the ports of his neighbor countries and also that the ships that leave their dock can directly sail to Qatar, which was previously not possible due to the blockade.
Even though it looks as if Qatar has gone through losses, with 60% of its imports being cut off and trade routes blocked, after more than two years, Qatar has managed to overturn the crisis. Qatar made it known that it was open for new businesses after the ban. During this time, Qatar started welcoming the incubation of new businesses and the formation of companies in their country, keeping in mind the need to widen their sources of income other than Oil and petroleum-based income.
The GDP of Qatar has grown after it's the expansion of investments to even as far as Southeast Asia. The exports have increased by as much as 19% after that. When a company is formed, Government Liaison services are often handled by the registered corporate PROs. PROs will act as the company's registered service provider for PRO services to represent the company legally.
Reading about it further, Salman found out that the GCC has been now holding talks with both Qatar and other countries to end Qatar's Diplomatic Crisis. Even though the talks haven't been going fruitful for the past couple of years, recently Qatar’s officials have said that the ongoing talk will lead to 'progress'.
Qatar has also been invited to the 40th session of the six-nation Gulf Cooperation Council (GCC) summit took place on December 10, 2019.
This meant that Salman's export business could use all the new facilities that would be made available when the ban is lifted. He ships his products through the sea and air. The new neighbor countries would open up to trade will use the ports of Jebel Ali and others. The neighbouring countries were supplying 60% of Qatar's imports before the ban. Even though Qatar has diversified its exports and imports sector to a broader range, covering East Asian countries, it would open up the export and import trade opportunities between nearby countries. The air and seaways can also be fully utilized, allowing full access to all the ports and trade routes.
Salman was looking for the best and the most trustworthy company to set up new export companies in Qatar, as he was looking forward to form a business entity, which would help him to reduce his taxes as well as providing protection from liability. He decided to partner with BBMS to setup various export companies for his products to multiple countries.
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