Qatar Chamber launched an initiative to prepare a study to evaluate the effects of imposing a carbon tax on the economies of the Gulf Cooperation Council countries.
His Excellency Sheikh Khalifa bin Jassim Al Thani, Chairman of the Chamber, said during his intervention in the consultative meeting between Their Excellencies the Ministers of Trade and Industry and Their Excellencies the heads of federations and chambers of commerce and industry in the Gulf Cooperation Council countries, which was held in Doha: The economies of the Arab Gulf countries are based primarily on oil, gas and industries. Hydrocarbons, and therefore imposing such a tax will reduce the competitive advantage of Gulf exports.
His Excellency noted that the European Union intends to start imposing the tax in the year 2026, and that the tax will be imposed on exports of aluminum, petrochemicals, iron products, and manufacturing industries.
His Excellency Sheikh Khalifa bin Jassim Al Thani, Chairman of the Qatar Chamber, stressed the importance of this consultative meeting and its role in the pursuit of Gulf economic integration, praising his happiness for the directives of Their Majesties and Highnesses, the leaders of the Gulf Cooperation Council countries, to support the private sector and enhance its pivotal role in the comprehensive development process, which reflects Ensuring the strengthening of economic and trade cooperation between the GCC countries.
His Excellency Sheikh Khalifa bin Jassim Al Thani expressed his hope that the consultative meeting would produce results and recommendations that contribute to resolving the challenges facing the economies of the Gulf Cooperation Council countries, expanding the role of the private sector in Gulf economic activity, and achieving more support for the role of the Union of Gulf Chambers in this framework.
He pointed out in press statements that the Qatar Chamber is looking forward to more cooperation with the federations and chambers of the Gulf Cooperation Council countries, and is also looking forward to more cooperation and partnership between the Qatari private sector and its counterpart in the sisterly Gulf countries, which will contribute to enhancing trade and economic cooperation and raising the levels of intra-Gulf trade.