Qatar-US Economic Forum to discuss establishing JVs

The Qatar-US Economic Forum that begins in Miami today will discuss ways to establish joint investment projects that benefit both the countries and their private sectors.  The forum is being organised by the Ministry of Economy and Commerce in association with Qatar Chamber, the American Chamber of Commerce, the Qatari Businessmen Association, the Qatar-US Business Council at the Four Seasons Hotel in Miami, Florida.  More than 200 businessmen and Qatari officials will attend the forum, along with some 200 businessmen and executives from major US companies.
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HE the Minister of Economy and Commerce Sheikh Ahmed bin Jassim bin Mohamed al-Thani with Patrick Murphy, former Congressman and representative for Florida’s 18th Congressional District on Monday. The meeting took place on the sidelines of the minister’s participation in the business tour, which kicked off in Miami. Discussions touched on the promotion of bilateral ties in the economic, trade and investment fields.

On the sidelines of the forum, several discussions will be held between representatives of the business sector from the two countries with the aim of strengthening the existing economic partnership between Qatar and the US. Discussions will be centred on partnership and investment opportunities between the two sides in several sectors including food security, tourism, logistics projects and infrastructure. Beginning in Miami, Florida, the “economic tour” will take the Qatari officials to Washington, DC, Columbia; Charleston, South Carolina; and Raleigh, North Carolina.

The delegation is headed by HE the Minister of Economy and Commerce Sheikh Ahmed bin Jassim bin Mohamed al-Thani and includes representatives from the Ministry of Energy and Industry, Ministry of Economy and Commerce, Qatar Investment Authority, Qatar Chamber, Qatar Stock Exchange, Qatar Businessmen Association, Qatar Airways, Qatar Foundation for Education, Science and Community Development, Qatar Financial Centre, beIN Sports, Supreme Committee for Delivery & Legacy, QNB, QDB, Manateq, Qatari Diar, Katara Hospitality, Qatar Tourism Authority, Doha Film Institute and several other major entities in Qatar. Qatar and the US have strong economic, trade and investment ties that were reinforced by the signing of the Trade and Investment Framework Agreement in 2004. The USA is one of Qatar’s largest trading partners. The volume of trade exchange between the two countries reached about $6bn and is the top source of imports in 2017.

US imports to Qatar accounted for 16% of the country’s total imports.  More than 658 American companies are currently operating in Qatar, of which 117 are fully-owned US companies. The volume of US investments in Qatar amounted to QR26.3bn. In 2015, QIA pledged to invest $45bn in the US over a five-year period, of which $10bn will be invested in infrastructure. Four years ago, Qatar Airways launched direct flights between Doha and Miami, streamlining business access to Florida. The airline also provided a $92bn boost to the US economy through its purchase of Boeing aircraft, which supported 123,000 jobs in the US.

 

Sources and photo-credits: Gulf Times