Qatar's Emir Sheikh Tamim bin Hamad al-Thani said on Tuesday he regrets the continuation of conflict with other Arab states but added that "crises will pass," outlining the nation's economic achievements over the past year.

The country would continue to develop its oil and gas industries as it is keen to preserve its status as the top liquefied natural gas exporter in the world, al-Thani said in a speech to the Arab state's Consultative Assembly.

Qatar's exports grew by 18 percent last year and the government slashed spending by 20 percent, he added.

Qatar's currency has preserved its value since the start of the rift last year and the economy has diversified to overcome the impact of sanctions imposed by other Arab states, al-Thani said.

In June 2017, a handful of Arab states, led by Saudi Arabia, abruptly severed diplomatic relations with Qatar and imposed a blockade on the tiny Gulf country, accusing it of supporting terrorism.

The Qatari government has denied the accusation, blasting the blockade as unjustified and a violation of international law.