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The Financial Express

Sidetracking unneighbourly sanctions

| Updated: September 26, 2018 21:54:13


UN Secretary-General António Guterres (second from left) addressing a joint press conference with World Bank President Jim Yong Kim (third from left) on the Rohingya refugee crisis in Dhaka on July 02, 2018. They had earlier visited Rohingya refugee camps in Cox's Bazar UN Secretary-General António Guterres (second from left) addressing a joint press conference with World Bank President Jim Yong Kim (third from left) on the Rohingya refugee crisis in Dhaka on July 02, 2018. They had earlier visited Rohingya refugee camps in Cox's Bazar

That there can be disagreement between allies is nothing new; pitting allies against one another was something the United States has risked without actually becoming involved. Strategically for all its brow-beating over Qatar help to Yemeni separatists, the US pinned more value on its big base there leaving Saudi Arabia and others to launch an economic boycott of sorts including refusing flyover permission.

Qatar didn't back down and after the initial hoopla of billions of dollars withdrawal from Qatar banks, important and sensible steps have enabled the oil-rich emirate to ward off most of the negative impact. According to the International Monetary Fund (IMF), the Qatar economy would grow by 2.6 per cent this year and the fiscal deficit as per gross domestic return (GDP) is climbing down from a heavy 9.2 per cent to 6.0 per cent. That's still high but the country has found new trade routes including heavily favoured flight windows over Iran that has allowed it to cash in on the unexpected benefit of additional flights to Dhaka to make up for an Etihad withdrawal.

A similar window through its water channels and some pipeline advantages have ensured it continues to pump out enough oil to keep revenues coming in. It has slowed down intake of expatriate workforce and focused on propping up domestic manufacture of produce to reduce dependence on imports thereby keeping the local economy's wheels moving. These are smart solutions to irritating and what were once thought to be punitive regional sanctions. That the country has held fast during the turmoil says volumes about its resilience. In due course the impact is expected to weaken further as those imposing sanctions too find themselves on the receiving end. The emirate had developed as a good communication hub and what works for the goose has to work for the gander. If Qatar has to avoid others' airspace, it works reciprocally. And if that has progressed Qatar's' own style of Qatarisation i.e. creating more job opportunities for Qatari citizens it can only bode well for the country. If the plans pan out, the future will look different.

The next edition of football's World Cup is slated for the emirate and that means a huge commercial deal. Just as the Skripal case could not support a boycott of the Russia World Cup, a future one is just as unlikely. At the end of the day, the bottom line counts both in terms of business and, of course, citizens' perspective on sports.

Bangladesh hasn't faced sanctions but no support either from its neighbours and friends regarding the Rohingya crisis. May be, out of the box thinking on turning adversity into opportunity could be one way ahead.

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