News

Political crisis in the Persian Gulf can bring new opportunities

2017-07-19
The commercial embargo applied by the GCC countries to Qatar is redefining commercial routes to the Persian Gulf. Oman is now the main gateway to Qatar.

Recent suspicions about Qatar involvement financing terrorist operations resulted so far in a political crisis between Qatar and partners of the Gulf Cooperation Council (GCC). Qatar is at risk of being detached from GCC.

Companies are trying to trade in other countries as Government is giving some tolerance in the usually restrictive import regulations. While some sanctions are applied, there is no direct business between UAE and Qatar and all shipments are routed via Oman including flights.

Oman is now the gateway to access Qatar, and that country is taking some economic advantage of this political crisis. Opportunities in Oman markets have doubled due to an insecure environment. The country has shown interesting figures in sectors as Innovative Technologies, IT sector, Construction, and hospitality. These new opportunities can also be explored by Portuguese companies.