DOHA: H E Ali bin Ahmed Al Kuwari, Minister of Commerce and Industry, received yesterday Wilbur Ross, the US Secretary of Commerce, who is currently visiting Doha.
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.
The meeting also focused on the latest trade, investment and industrial developments as well as mechanisms to promote bilateral relations.
Al Kuwari and Secretary Ross discussed the growth story of Qatari economy, 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 Thursday, Minister Al Kuwari received a delegation of American businessmen. He discussed with the delegation 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 QR26.4bn in 2018, the equivalent of $7.23bn, ranking the US as Qatar’s fifth largest trade partners and top source of imports, accounting for 6.26 percent of Qatar’s total trade.
Over 753 American 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.