The month-long Qatar economic roadshow across US cities being led by Qatar’s Ministry of Economy and Commerce highlights the strong and deep-rooted relationship between the two countries.
The roadshow in key American cities, comes within the framework of Qatar’s keenness to widen the horizons of economic cooperation with the US and enhance communication between the business sectors in both countries. Minister of Economy and Commerce H E Sheikh Ahmed bin Jassim bin Mohammed Al Thani, during the opening of the Qatari-US Economic Forum held in Charleston, South Carolina, underlined that international trade and investment are a key part of Qatar’s future growth and economic diversification policy, and noted that the United States is one of the largest and most important trading partners of Qatar.
Qatar has increased its investment in the United States over the years, which has contributed to creating thousands of jobs throughout the US. The investments included partnerships with several American companies including ExxonMobil, ConocoPhillips and Raytheon. Qatar Airways has allocated about $92bn to support the US economy through the purchase of 332 US-made aircraft, which contributed to creating over 527,000 jobs.
The Qatar Investment Authority allocated $45bn of investments in the US for the period 2015-2020, of which $10bn will be directed to invest in the infrastructure sector. Qatar Petroleum has allocated $10bn for investments in a liquefied natural gas plant in Texas. Qatar donated $100m to help those affected by Hurricane Katrina and donated another $30m in aid after Hurricane Harvey. The roadshow features economic forums, bilateral discussions, meetings between Qatari businessmen and their American counterparts, and round table sector discussions in the fields of real estate, investment, hospitality, tourism, hotel, technology, health, medicine, banking, law, public-private partnerships and infrastructure projects. Exhibitions, being held on the sidelines, shed light on Qatar’s culture heritage, major investments and the state’s economic capabilities.
Qatari-US bilateral economic relations have grown significantly since the signing of the Trade and Investment Framework Agreement — or TIFA — in 2004. Today, the US is considered as a strong trading partner.
There are about 15,000 American citizens in Qatar. Qatar has achieved positive growth rates during the past year, a proof that the Qatar’s economy has not been affected by the unjust siege. Qatar established trade relations with countries the world over, especially the United States. The latest World Bank report showed that Qatar’s real GDP is expected to rise to 2.8 percent in 2018, the highest rate among the GCC countries.
Qatar also has become a world leader in the Global Competitiveness Index according to a report issued by the World Economic Forum. Qatar also ranked first in the world in providing a safe business environment. Qatar has cemented its partnership with the US in the form of direct investments, joint ventures and trade deals. The partnership has contributed to the creation of countless new opportunities for investors and businessmen from both countries
