Qatar's bourse may begin trading bonds, sukuk and exchange traded funds (ETFs) in the first quarter of next year, the exchange's deputy chief executive said.

The Gulf state's bourse embarked on a revamp last year when it entered a strategic partnership with NYSE Euronext. It is currently 20 per cent owned by the Big Board parent.

'They are our partners and have 20 per cent of the bourse. From an administrative side, we will develop the market from a domestic market to international one using the NYSE platform,' Saif Al Mansoori said on the sidelines of a conference in Beirut  when asked about further plans to develop the exchange.

Qatar, along with the United Arab Emirates, is currently considered a frontier market, but remain under review for a possible upgrade to emerging markets, index compiler MSCI said in June.

The world's top exporter of liquefied natural gas, Qatar is set to see double-digit growth this year, well ahead of the rest of the Gulf region, due to the expansion of its gas facilities and government spending.-Reuters