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Minister of Commerce and Industry HE Ali bin Ahmed al Kuwari has met with US Secretary of Commerce Wilbur Ross, and discussed promotion of bilateral trade and industrial cooperation, in Doha on Sunday.
Discussions touched on the promotion of joint cooperation, particularly in the trade, investment and industrial fields and the prospects of bolstering bilateral trade in light of the economic potential of both countries, Ministry of Commerce and Industry said in a statement
on Monday.
The meeting also focused on the latest trade, investment and industrial developments as well as mechanisms to promote bilateral relations.
Both sides reviewed the latest developments that the Qatari economy witnessed over the past years, the investment opportunities that Qatar offers across various sectors and the legislations that the state enacted, including the law on regulating the investment of non-Qatari capital in economic activity, as well as initiatives aimed at supporting the private sector, attracting foreign direct investment and encouraging US companies to invest in Qatar.
The two sides discussed the role of US companies in implementing Qatar’s infrastructure projects as the country gears up to host the 2022 FIFA World Cup.
Last week, Kuwari received a delegation of US businessmen and discussed the investment opportunities across various sectors in light of the economic diversification strategy pursued by state and efforts to promote an attractive investment environment for various economic projects.
Qatari-US bilateral trade reached QR26.4 billion ($7.23 billion) in 2018. US is Qatar’s fifth largest trading partner and top source of imports, accounting for 6.26% of Qatar’s total trade.
Over 753 US companies and representative offices are currently operating in Qatar. These include 572 joint Qatari- US companies, 108 representative offices for US companies, 10 firms that are fully owned by US citizens, and 63 firms operating under the umbrella of the Qatar Financial Centre.
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12/11/2019
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