Logistics sector rapidly expanding, poised for further growth
The Peninsula
Doha: The logistics sector in Qatar is rapidly expanding and poised for further growth driven by significant investments in infrastructure. Qatar h...
Doha: The logistics sector in Qatar is rapidly expanding and poised for further growth driven by significant investments in infrastructure.
Qatar has been actively investing in developing its logistics sector to position itself as a global logistics hub. The country’s strategic location, state-of-the-art infrastructure and efforts to diversify its economy contribute to the growth of the logistics market, noted a recent report by Invest Qatar which highlighted the recent trends in the global logistics market and explored its potential for future growth.
The rapid growth of the country’s logistics sector has been significantly boosted by substantial investments in technology and communication. Furthermore, this growth is further accelerated by extensive trade and investment networks Qatar is a member of the World Trade Organization (WTO), a member of the GCC Customs Union and a signatory of the Pan-Arab Free Trade Area (PAFTA).
Qatar has established 68 bilateral investment treaties (BITs), 28 bilateral agreements on customs cooperation and 80+ double taxation agreements with major economies to ease trade and investment activities.
As a result, the logistics sector has emerged as one of Qatar’s fastest-growing industries, experiencing a remarkable growth rate of 26 percent in 2022. Building on years of investment and strategic planning, the country’s excellent logistics and supply chain networks serve as a reference case for how to enhance and navigate global supply chain and logistics disruptions.
