DOHA, 4 April 2005 — Qatar yesterday partially opened its stock market foreigners, allowing them to trade on the gas-rich Gulf state’s stock exchange and own up to 25 percent of the equity of listed firms. “I have the pleasure to announce the start of a new phase of Qatar’s economy,” Economy Minister Mohammed ibn Ahmed Al-Thani told an official ceremony. Qatar announced in February that foreigners would be able to buy and sell shares on the stock market. Earlier this year, Mohammed ibn Issa Hamad Al-Mehannadi, minister of state for Cabinet affairs, said non-Qataris would be allowed to own up to 25 percent of companies listed on the Qatari exchange. Qatari financial analyst Beshir Al-Kahlut told AFP in February that the measure would “boost activity and develop the Qatari stock market,” which has a capitalization of some $40 billion.