Qatar-US Trade Volume Reaches $5.5 Billion until October 2016

Doha, – US Assistant Secretary of State for Economic and Business Affairs Charles Rivkin said that the volume of trade exchange between the United States and the State of Qatar has reached since the beginning of this year until October to $5.5 billion,…

Doha, - US Assistant Secretary of State for Economic and Business Affairs Charles Rivkin said that the volume of trade exchange between the United States and the State of Qatar has reached since the beginning of this year until October to $5.5 billion, and is expected to rise by the end of the year.

The trade exchange between the State of Qatar and the United States reached approximately QR16.35 billion in 2015 (more than $4 billion), and the US is Qatar's seventh largest trading partner.

In a speech during a meeting between businessmen from Qatar Chamber and their counterparts from the United States who is currently visiting Doha to participate in the second session of US-Qatar Economic and Investment Dialogue, the US Assistant Secretary of State for Economic and Business Affairs said that the Qatari and American sides agree on the importance of strengthening trade and economic relations and the advancement of the trade exchange, praising the role played by Qatar Investment Authority in this regard which seeks to invest more than $35 billion in the United States over five years.

Rivkin pointed out that the Economic and Investment Dialogue between the two countries helps to maintain the level of the existing cooperation and opens the door to many new opportunities for cooperation, stressing the readiness of many US companies to support Qatar's economy, especially since the country is seeking to diversify its economy in many areas.

He further added that supporting the large-scale infrastructure projects that Qatar is implementing and the diversity within the state and increasing bilateral investments can strongly help in achieving economic cooperation between US and Qatar.

He also said that US companies are seeking to further strengthen their presence in many projects that Qatar is implementing, and working to attract many of the various US companies operating in many different sectors to take advantage of the opportunities available in the Qatari economy, stressing the importance of the role of the private sector in advancing the local economy and it should get priority in implementing the projects offered by the governments.

Rivkin emphasised the importance of the Qatari investments in the United States, especially those carried out by Qatar Investment Authority, in opening the door for joint investments and strengthening friendship and partnership relations between the two countries. (QNA)

For her part, US Ambassador to Qatar Dana Shell Smith affirmed the durability and strength of the US-Qatari relations on several levels, pointing out that the economic relations between the two countries witnessed a remarkable development during the current period in many sectors that will benefit both sides.

HE the US Ambassador noted that the United States is one of the largest investors in the Qatari economy and in turn the State of Qatar directed its investments toward the US market.

Moreover, HE the US Ambassador to Qatar said that there are more than a hundred American companies of many different projects operating in the State of Qatar and there are also many US companies wishing to work in Qatar.

For his part, Qatar Chamber Vice Chairman Mohamed bin Ahmed bin Tawar Al Kuwari said in a statement that the State of Qatar is implementing many of the infrastructure projects and developing many technological and technical sectors and services, noting to the role that could be played by American companies in this field.

HE Al Kuwari further added that there are great investment opportunities available in both countries for the Qatari and American sides as Qatar and America enjoy a strong economic environment and the door will be opened for the joint investment.

HE Qatar Chamber Vice Chairman said that the Qatari and US sides could exchange their joint experiences as the state of Qatar is implementing several large projects that require the availability of advanced technologies which excels by the American side.

HE Qatar Chamber board member Adel Abdulrahman Al Mannai expressed the desire of Qatari business community to exploit experiences of the American business community, particularly in the technology field, take its advantage and transfer it to the State of Qatar, stressing the importance of cooperation and benefit from the joint experiences between the two countries. (QNA)

Source: Qatar News Agency