His Excellency Ali bin Ahmed Al-Kuwari, Minister of Trade and Industry, said that the volume of trade exchange between the State of Qatar and the United States amounted to more than $ 9.43 billion in the year 2019, equivalent to an increase of 90 percent compared to the past three years, indicating that the United States of America is currently the main source of imports The State of Qatar, which increased by about 100 percent compared to 2017.
This came in the minister’s speech during the private sector session accompanying the third strategic dialogue between the State of Qatar and the United States of America, which was organized by the American-Qatari Business Council in cooperation with the American Chamber of Commerce through visual communication technology, in which officials and businessmen from both sides participated.
The organization of the private sector session accompanying the third strategic dialogue between the State of Qatar and the United States aims to enhance communication with American companies and highlight the laws governing the business environment in the State of Qatar and the investment opportunities available for partnership between the Qatari and American private sectors.
His Excellency the Minister of Trade and Industry emphasized that this meeting is an important platform to discuss investment opportunities with officials and businessmen from the State of Qatar and the United States of America, expressing his aspiration to organize the second round of economic mobility in the United States of America, which was to be organized during the current year and was postponed due to a crisis Corona virus epidemic.
His Excellency invited all parties participating in the meeting to visit the State of Qatar with the aim of seeing the remarkable development in the business environment and taking advantage of the distinct opportunities provided by the state … expressing his confidence that many of the companies participating in the session have knowledge of the Qatari market, which includes more than 850 An American company, whether in partnership with Qatari investors or wholly owned by the American side.
Regarding Qatari investments in the United States, he said that the state has been keen to enhance its investments in a range of sectors in the United States, in cooperation with American partners … referring to the efforts of the Qatar Investment Authority to allocate an amount of $ 45 billion to invest in a wide range of sectors along the eastern and western coasts. In the United States of America, he also pointed out the investments that Qatar Petroleum has directed towards the American energy sector.
He pointed out that these strong economic ties have contributed to the consolidation and expansion of the pillars of a deep and multi-faceted partnership between the two countries, explaining that the bilateral relations between the State of Qatar and the United States are not limited to partnership only, but also based on a strong friendship based on mutual respect and common strategic and cultural values.
His Excellency the Minister of Trade and Industry indicated that there are many possibilities that can be utilized to continue strengthening the bilateral partnership … expressing his hope that it will continue for future generations, especially in light of the role that American companies play in supporting the national development process of the State of Qatar .. Reaffirming that the State of Qatar You represent a true partner committed to building and developing an ideal business environment, and providing all avenues for the success and prosperity of private sector companies.
Turning to the country’s economic achievements, His Excellency Mr. Ali bin Ahmed Al-Kuwari, Minister of Trade and Industry, pointed out that the State of Qatar has made many great achievements during the year 2020, despite the economic repercussions of the Covid-19 virus, which has affected supply chains and various commercial operations. All over the world, stressing that the State of Qatar is one of the first countries in the region to implement a set of precautionary and preventive measures to preserve the health and safety of citizens and residents, in parallel with adopting an integrated strategy to support commercial and economic relations with its partners around the world.
He added that the country has reaffirmed since the beginning of the outbreak of the epidemic, its commitment to the rules of the multilateral trading system and the strengthening of international cooperation frameworks in a way that supports the continuity of the role of trade as an engine for economic recovery, in addition to doubling its efforts to enhance its logistical capabilities by relying on its advanced infrastructure to support its position as a commercial and investment hub at the regional level. And universal.
His Excellency went on to say, “The state has allowed investors to take advantage of free and logistical areas located in strategic locations close to Hamad International Airport and Hamad Port, as well as providing an advanced highway network that has been designed according to the highest international standards adopted in this field.”
In this context, he pointed out the advantages of free zones that give foreign investors the possibility of 100 percent ownership, establishing partnerships with the Qatari private sector, benefiting from tax exemptions, investment funds, and high-quality infrastructure, as well as providing access to competencies and skilled workers. These infrastructures play an important role as a catalyst for companies to invest in the value-added sectors, especially the logistical, industrial and technological sectors.
In the context of his discussion of the laws and legislations established by the state to attract and encourage investment, His Excellency the Minister of Trade and Industry explained that the State of Qatar has taken a number of important steps in this field, including the issuance of the partnership law between the government and the private sectors, which aims to expand investment horizons in the country and provide the legislative framework. Appropriate to improve governance, risk management, and promote competition and innovation.
He added that this law provides investors with the opportunity to finance, develop and operate projects in a variety of priority sectors, including food security, sports, tourism, health, education and logistics services .. He also indicated that the partnership law between the government and the private sectors constitutes an important step in support of the business environment in The State of Qatar in light of the implementation of the 2022 FIFA World Cup projects.
In addition, His Excellency highlighted the characteristics of the law regulating the investment of non-Qatari capital in economic activity, which in turn allows foreign investors the possibility of 100 percent ownership in various sectors and economic activities, as well as exemption from income tax and customs duties when importing machinery and equipment .. adding that The state also issued a law aimed at enabling non-Qatari investors and companies to invest in the real estate sector through investment funds and owning real estate in many of the country’s vital economic and tourism regions.
His Excellency also reviewed the important initiatives laid down by the state to support the investment sector, especially the launch of the Investment Promotion Agency and the launch of a single window that provides access to more than 22 government agencies through a single platform, which contributed to facilitating investment procedures, especially the issuance of commercial and industrial licenses to allow investors to establish their companies Anytime, anywhere around the world.
He pointed out that the state was keen to establish a system that would enhance companies’ confidence in their investments and provide them with greater opportunities for success, explaining that the initiatives launched by the state contributed to enhancing the flow of foreign direct investments and providing a dynamic business environment that would contribute to protection and support for foreign investors.
He said that the state’s focus on developing the private sector, especially small and medium-sized companies, and facilitating their contribution to the implementation of development projects, contributed to the increase in the total volume of investments in the industrial sector to reach $ 72 billion in the year 2019 … indicating that the state’s efforts towards strengthening government expenditures on projects Infrastructure and the expansion of the small and medium industries area, in turn, provided promising opportunities for the private sector.
His Excellency expressed his hope that this meeting would contribute to encouraging more American companies to establish additional investment partnerships with the Qatari private sector by taking advantage of the strong relations between the two countries.
In his speech, His Excellency Mr. Ali bin Ahmed Al-Kuwari announced the signing of a memorandum of understanding between the Widam Food Company and the American company Tyson to supply protein in the food and agricultural business sectors. He said, “The memorandum of understanding opens the way for discussions on establishing bilateral trade relations in the meat field.”
In turn, His Excellency Sheikh Khalifa bin Jassim Al-Thani, Chairman of the Qatar Chamber, said that the strategic dialogue confirms the strength and durability of relations between the two friendly countries, pointing to the great success of the strategic dialogue between Qatar and the United States in the previous two sessions, which witnessed the signing of many agreements to enhance cooperation in various Domains.
He added that the State of Qatar and the United States have strong and established relations covering various aspects, especially in the commercial and investment fields, as intra-trade has achieved great growth rates in the past few years, pointing out that there are hundreds of American companies operating in the Qatari market in various economic sectors, whether With Qatari partners or with 100 percent US capital .. He said, “The chamber is looking forward to seeing more American companies in the Qatari market.”
His Excellency Sheikh Khalifa bin Jassim Al Thani, Chairman of the Qatar Chamber, called on Qatari and American businessmen to take advantage of the incentives available in both countries and to establish alliances and trade partnerships that would benefit both economies.
For his part, His Excellency Sheikh Mohammed bin Qasim Al Thani, a member of the Qatari Businessmen Association, in his speech delivered on behalf of Sheikh Faisal bin Qasim Al Thani, Chairman of the Association’s Board of Directors, stressed the importance of Qatari businessmen’s relations with the United States .. and said, “As Qatari businessmen The United States is one of the main destinations for foreign investment, and we are aware of the leadership of the United States in innovation, the diversity of its opportunities and the competitiveness of its markets, all of which open the appetite of any businessman to launch outside his regional borders.
In his speech, Sheikh Muhammad bin Qasim Al Thani called on the American Chamber of Commerce and the Qatari-American Business Council to participate in organizing a trade symposium through visual communication means, to discuss potential areas of cooperation in the United States and Qatar and to study ways to develop them.
In addition, HE Ali bin Ahmed Al Kuwari, Minister of Trade and Industry, met on the sidelines of the third strategic dialogue between the State of Qatar and the United States of America, His Excellency Mr. Wilbur Ross, US Secretary of Commerce, HE Mr. Tom Donohue, CEO of the American Chamber of Commerce, and Mr. Koch Choxi, Deputy The first is for the president of the American Chamber of Commerce for the Middle East and Turkey affairs, separately.
During the meetings, they reviewed bilateral relations between the two friendly countries and discussed aspects of joint cooperation, especially in the commercial, investment and industrial fields, and ways to enhance and develop them, in addition to discussing trade policies between the two countries and the implications of the crisis of the outbreak of the Covid-19 virus on the economic and commercial situation and the efforts made by the two sides within the framework of Confronting the economic repercussions of this crisis.
His Excellency the Minister of Commerce and Industry also reviewed, during the meetings, the economic policies adopted by the State of Qatar and the role through which it contributed to removing restrictions on foreign investment and providing more investment opportunities for companies wishing to invest and establish a base for them in the State of Qatar.
His Excellency the Minister met with Her Excellency Mrs. Anne Patterson, President of the American side in the American-Qatari Business Council, and Mr. Mohamed Barakat, Executive Director of the American-Qatari Business Council, to discuss ways to develop the Council’s business in a way that serves the common interests of both sides, as well as discussing mechanisms for developing communication channels between Qatari and American companies and organizing more Events for the business sectors in the two countries.