*Two-way trade between Qatar and US worth $125bn is predicted to double
US companies have expressed interest in exploring new investment opportunities in Qatar's growth sectors including pharmaceutical, agriculture and services industries, according to the US-Qatar Business Council (USQBC).
“We are pleased to host these dialogues, which will create jobs and investment opportunities for both the countries,” US-Qatar Business Council managing director Mohamed Barakat said on Sunday.
The US-Qatar Business Council (USQBC) is in Doha this week to hold its Board of Directors meeting and to meet with government officials and Qatari private entities.
The US-Qatar Business Council is the leading American trade association advancing the US and Qatar bilateral trade relationship.
It was founded under the patronage of His Highness the Father Amir Sheikh Hamad bin Khalifa al-Thani in 1996 by a group of American companies that first invested in the Qatari economy.
Barakat said the council was bringing together business interests from both the US and Qatari markets to facilitate trade and investment opportunities and strengthen economic ties.
"Qatar is already a strong business partner of the United States in the Gulf, with trade between our two countries valued at $125bn and this number is predicted to double," Barakat said.
"Qatar has embarked upon an impressive journey to diversify its economy. It has been focused on removing economic barriers, creating financial incentives and providing even more opportunities for jobs and investment. This makes it an attractive place to do business for US companies seeking new trading partners in the region."
As a significant investor in the US market in real estate and infrastructure, Qatar is also an important partner for the US helping to create jobs and economic development. The US-Qatar Business Council is highlighting these investment opportunities and is focused on advancing and enhancing the commercial relationship.
"We look forward to a series of productive meetings with senior government and business representatives in Qatar over the coming days,” Barakat said.
While in Qatar, the USQBC Board of Directors will hold a series of high-level discussions with the private sector including Qatar Petroleum, Qatar Airways, Qatar Stock Exchange, Qatar Financial Centre and the Qatar Chamber as well as senior government officials.
The visit will also highlight upcoming trade and business events in the United States later this year.
"The US-Qatar Business Council is pleased to support the Qatar-US Economic Forums, a nation-wide, year-long series of business and trade events held in the United States," Barakat said.
In April, the largest-ever delegation of Qatari business leaders visited the United States for an economic roadshow in Washington DC, Miami, Raleigh and Charleston, SC.
The forums followed on from the successful US-Qatar Strategic Dialogue held in Washington DC in January 2018, which established a shared vision for Qatar and US relations and trade.
Attendees included Qatar’s Ministry of Economy and Commerce, Ministry of Finance, Ministry of Energy and Industry, Qatar Investment Authority (QIA), Qatar Chamber, Qatari Businessmen Association, Qatar Airways, Qatar Stock Exchange, Doha Film Institute, Qatar Foundation, beIN SPORTS, Manateq, Qatari Diar, and the Supreme Committee for Delivery and Legacy, the organising body for the 2022 FIFA World Cup.
The next series of Qatar-US forums will be held in Texas and California in the fourth quarter and will include panel sessions, networking events and B2B roundtables.
Barakat said hundreds of companies have participated in the forums so far.
"The economic forums are an unparalleled opportunity to hear first-hand insights about doing business in the United States and to meet with potential partners. Showcasing the breadth and depth of business and investment opportunities in partnership with Qatar is opening an important conversation with key US businesses."