WASHINGTON, DC - APRIL 11, 2018: The Amir of Qatar, His Highness Sheikh Tamim bin Hamad Al-Thani spoke to more than 350 US and Qatari business leaders at a joint US-Qatar Business Council and US Chamber of Commerce event yesterday to celebrate the economic partnership between the US and Qatar.
The Amir said Qatar plans to double the current $125 billion partnership between Qatar and the United States.
"Qatar is the fastest growing economy in the Middle East and US businesses are a treasured part of Qatar's success and development," the Amir said. "Our two countries will continue to find new business opportunities and enhance economic ties."
Steven Mnuchin, Secretary of the United States Treasury, speaking at the US Chamber event, welcomed the Qatari business delegation and thanked Qatar for its partnership and investment in the United States.
Qatar’s Minister of Economy and Commerce, His Excellency Sheikh Ahmed bin Jassim bin Mohammed Al-Thani highlighted the benefits of the close economic relationship between the two countries.
“International trade and investment forms a key part of Qatar’s growth and diversification strategy.”
“There are now 650 American companies established in Qatar and last year the trade volume reached $24 billion. Qatar has been increasing its investment in the United States over many years creating hundreds of thousands of jobs across America. I look forward to taking our economic relationship to new horizons.”
Qatari and US business leaders also held discussions on new business opportunities at the US Qatar Economic Forum held yesterday in Washington, DC, co-hosted by the US-Qatar Business Council.
Speakers highlighted opportunities for US companies to work with Qatar including real estate investment, infrastructure and construction for the upcoming 2022 World Cup, increasing trade and exports and supporting Qatar's growing tourism industry.
Qatari business leaders and executives at the forum included the Qatar Ministry of Economy and Commerce, the Ministry of Finance, the Ministry of Energy and Industry, the Qatar Investment Authority (QIA), the Qatar Chamber of Commerce and Industry, the Qatari Businessmen Association, Qatar Airways, Qatar Stock Exchange, Doha Film Institute, Qatar Foundation, beIN SPORTS, Manateq, Qatari Diar, and the Supreme Committee for Delivery & Legacy, the organizing body for the 2022 FIFA World Cup.
US-Qatar Business Council, Ambassador Anne Patterson, said the visit is part of a nation-wide, year-long effort to identify new business opportunities between Qatar and the United States.
"This week US businesses have learned that Qatar plans to invest $45 billion in infrastructure, real estate and other projects in the United States and is looking for more."
"They have heard the Qatar development bank offers incentives to US businesses and entrepreneurs to set up in Qatar."
"They learned about reforms to the labor laws to protect foreign workers and about the liberalization of laws for foreign companies.
"These events and discussions help to open up new avenues for trade between the US and Qatar."
Ambassador Patterson welcomed Qatar Airways' announcement it has signed a letter of intent to purchase five US Boeing 777 freighters valued at $1.7 billion this week, further strengthening the defense and aerospace economic relationship.
"We look forward to highlighting opportunities for increased business opportunities and exports to Qatar for US companies," Ambassador Patterson said.
The Qatar-US Economic Forum will continue next week in Charleston and Raleigh.
About the US-Qatar Business Council
The US-Qatar Business Council is a US- based not for profit which works to develop and sustain commercial, economic and trade relationships between the United States and Qatar. USQBC facilitates forums and discussions for American companies doing or planning to do business in Qatar. The Council, together with the US-based Qatar Foundation International, also supports educational and cultural partnerships between Qatar and the United States.
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