Soon it will be a year since Saudi Arabia and its three regional allies imposed an economic embargo on Qatar because of its connections with Iran and its alleged support to terrorism.
However, Qatar managed to quickly recover thanks to its thick wallet. This country found new ways of transport, further strengthened its trade connections with Western countries (including BiH), and its economy is now holding well. The imports and exports from Qatar are recording an increase and the state budget will be in surplus this year, according to data of the IMF.
Trade links between BiH and Qatar were further strengthened last year and this year, after the introduction of embargo. Exports from BH to Qatar amounted to 389 000 BAM in the entire year of 2016. Back then, we mostly exported furniture, umbrellas, wood products, etc.
On the other side, exports from BiH to Qatar exceeded the amount of 581 000 BAM in just 4 months of this year. A change in structure took place as well, and now we mostly export food (cereals, flour etc.) as well as basic hygienic supplies (paper, soap, etc.).
Moreover, some companies from BiH announced the beginning of exports to Qatar, while companies from this Arab country announced investments in BiH.
At the end, everyone agrees that Qatar defeated the blockade, and that Saudi Arabia and its allies clearly have no plan B, i.e. they did not plan what to do if Doha decides not to fall under the fear and pressure.
(Source: biznisinfo.ba)
