What impact will the restoration of relations with Qatar have on its startups?

What impact will the restoration of relations with Qatar have on its startups?

The almost four-year blockade of Qatar was lifted last week at the GCC Summit. Now that Bahrain, Egypt, Saudi Arabia and the UAE have restored full diplomatic ties, it presents a big opportunity for Qatar's startup ecosystem to expand. 

In this piece, Nazar Musa, chief commercial officer at advisory firm Pro Partner Group, which has offices in the UAE, Oman and Qatar explains the impact the decision might have.

The restoration of ties between Qatar and the remainder of the GCC opens up a great deal of opportunity for entrepreneurs and the startup sector as a whole. The opportunity lies both ways.

Qatari startups and entrepreneurs now have a far wider and diverse market in which to launch their products and services. The various free zones and centres of regional excellence that attract startups from across the globe in the UAE and in Saudi Arabia are now open to Qataris. Startups that have launched in the past three years in Doha can now look at expansion and the basics of infrastructure will now be open to them. 

Ease of travel between GCC locations has returned. Regional banking for Qatari businesses will now be available and of course a significantly larger potential market will now