Doha, Nov. 06 (QNA) - His Highness Sheikh Tamim bin Hamad Al-Thani, the Emir of the State of Qatar, welcomed the opening of the 47th regular session of the Consultative Council at the Council's headquarters.

His Highness the Amir gave a speech on this occasion. The following is a summary of the most important points HH highlighted:

1. It is an annual occasion for the opening of a new session of the Council, marking the beginning of a new legislative chapter in which the constitutional institutions will assume their responsibilities to achieve the desired goals (growth, keeping up with the achievements of the civilization of humanity, forming the national, Arab and Islamic identity).

2. Since the last meeting, which took place at the beginning of the siege, Qatar's economy has been strengthened, the state has become more self-reliant, relations with allies have deepened, and Qataris have become more aware of the importance of national sovereignty.

3. The world economy witnessed an economic recovery in 2017, but this did not include the Middle East, North Africa and the GCC, including the State of Qatar, although growth was the least affected in the later. The decline in hydrocarbon GDP was accompanied by a 4% growth in GDP from other sources. Exports rose by 18% and the banking system recovered the level of indicators for the pre-siege period. Qatar Central Bank recovered its reserve level. Qatar Riyal maintained its value and the country continued to provide financing for the World Cup projects.

1. Operating factories increased by 14% before the blockade and were able to achieve self-sufficiency in some food products. The role of the private sector in achieving this must be noted.

2. The State is working to achieve water and food security and electric power, achieving an increase of 155% of fresh water. Umm Al-Houl station has started work, which will increase electricity production by about 30% and desalinated water by about 40% .

3. The State followed a fiscal policy to reduce spending due to the sharp drop in oil and gas prices and continued to invest in infrastructure and preparations for the World Cup. Government spending for consumption fell by 20% this year, while household spending increased by 4%.

4. The World Bank expects Qatar's economic growth rate to reach 2.8% in 2018 and to rise to around 3% in the following years. The Qatari economy is now stable and the confidence of the global credit rating agencies in Qatar's economy was evident with the issue of $ 12 billion in Qatari sovereign bond in the global financial markets, with an IPO of $ 53 billion.

1. The objectives of the Qatar National Vision are to focus on economic diversification, oil and gas as well, without being affected by changes in the prices of these two sources. Studies have been completed to develop a large LNG project from the North Field. Qatar Gas and RasGas have also been merged, providing a combined annual turnover of QR2 billion. In addition, Qatar Petroleum is moving towards exploration and production of oil and gas outside Qatar, with agreements with Oman, Brazil, Mexico, Argentina and South Africa. We have also signed several contracts with PetroChina to supply 3.4 million tons of LNG per year

2. The second national development strategy 2018-2022 entered the implementation phase at the beginning of the year with the aim of developing infrastructure, promoting economic diversification, developing the private sector, wise management, preserving the environment, promoting human development, creating an integrated health care system, quality education, building an efficient and committed workforce, Justice, security, safety, cultural enrichment and sports excellence.

3. The State shall establish the work and its ethics.

4. We are convinced that the security and stability of our countries, Gulf and Arab, will not be achieved through prejudice to the sovereignty of States, but through respect for the law, and resolving differences through dialogue.

1. It is regrettable that the continuation of the Gulf crisis revealed the failure of the GCC to achieve its objectives.

2. Undoubtedly, the deterioration of the Arab region situation is resulting in the loosing of its ability to confront crises (Palestine, Syria, Yemen, Libya and others).

3. The State of Qatar will continue to support efforts to resolve differences and confront the challenges and dangers that surround the Arab and Islamic nations, and the problems that threaten international peace and security. It supports efforts to resolve the Palestinian issue, which is a top priority. And keen on dialogue and stability and unity of Syria, Yemen, Libya and Iraq

4. In conclusion, His Highness pointed out that the preparation for the election of the Legislative Council is underway at the level of the ministerial committees and the committees of experts.