Qatar climbdown in WTO case involving ‘illegal’ ban on UAE goods


The UAE initiated WTO dispute-settlement proceedings against Qatar in January. (Reuters)
Updated 27 April 2019

Qatar climbdown in WTO case involving ‘illegal’ ban on UAE goods


  • UAE government said in January that it had initiated WTO dispute-settlement proceedings against Qatar
  • Qatar has now decided to partially withdraw its measures

LONDON: Qatar has backed down on measures relating to its “illegal” ban on UAE goods and services, the subject of a dispute lodged with the World Trade Organization, the Emirates’ state news agency WAM reported.
The UAE government said in January that it had initiated WTO dispute-settlement proceedings against Qatar, following a ban on goods imposed by Doha.
Qatar has now decided to partially withdraw its measures, in what WAM said was “a significant concession aimed at averting the consequences of the UAE’s case” lodged with the WTO.
The step was announced during a session of the Dispute Settlement Body of the WTO on Friday, WAM reported on Saturday. Qatar has also partially revoked measures that banned buying and selling commodities exported by the UAE.
“The Qatari climbdown recognizes that Doha’s policies had violated its international obligations. However, the partial concession doesn’t … resolve some of the fundamental issues of the dispute, and the UAE continues to explore its legal options to ensure that Qatar abides by its WTO obligations,” WAM reported.
Abdullah Hamdan Al-Naqbi, director of the international law department at the UAE Ministry of Foreign Affairs, said that Qatar’s confession of its previous violations marks “a clear concession.”
“We continue to seek Qatar’s full withdrawal of these measures so as to ensure Doha’s commitment to its WTO obligations and ensure our exports of goods has free access to Qatar markets,” he said.
Qatar’s approach had “placed it on the defensive,” with little recognition of the consequences of its actions, Al-Naqbi added.
The UAE is one of several Arab nations, including Saudi Arabia and Egypt, that have imposed a boycott on Qatar due to its alleged support of terror groups. Doha denies the charges.


Egypt expects several share offerings by end of year

Updated 15 September 2019

Egypt expects several share offerings by end of year

  • One small company worth about 50 million Egyptian pounds was also expected to offer shares on the Nile Stock Exchange

CAIRO: Egypt expects two state companies and one private pharmaceuticals firm worth more than $61.3 million, or one billion Egyptian pounds, to make share offerings by the end of the year, an official at the Financial Regulatory Authority said on Sunday.
One small company worth about 50 million Egyptian pounds was also expected to offer shares on the Nile Stock Exchange, which specializes in small and medium sized enterprises, said Sayed Abdel Fadeel, head of the authority’s corporate finance department. He did not name the companies.
Egypt promised to sell minority stakes in several state companies in late 2018 but postponed the offerings following emerging market turbulence.