DOHA: Qatar is seeking to explore new investment opportunities with the US, including in American infrastructure projects, Ministry of Commerce and Industry (MoCI) Undersecretary H E Sultan bin Rashid Al Khater has said.
He was addressing a virtual session on commercial cooperation organised on Tuesday within the framework of the third Qatar-US Strategic Dialogue.
“Qatar is keen to strengthen cooperation with the US to pursue the development of an ecosystem that reflects positively on both countries, including the necessary frameworks to protect intellectual property and provide guarantees for investors,” said Al Khater.
He was co-chairing the session attended by Ian Steff, Assistant Secretary for Global Markets and Director-General of the United States and Foreign Commercial Service and Peter Haas, Principal Deputy Assistant Secretary for Economic and Business Affairs.
“Qatar’s commercial relationship with the US serves as a strong foundation for bilateral ties, and by all measures is vital and getting stronger. I look forward to organising in the US the second round of the Economic Roadshow, which was postponed due to the Covid-19 outbreak,” he said.
Momentum
Qatar-US trade relations have gained considerable momentum since the signing of the Trade and Investment Framework Agreement (TIFA) in 2004, with total trade now eight times more than it was 16 years ago and twice the value of 2017, he stated.
“US firms are increasingly active in Doha. American companies have been operating in Qatar for decades, as critical partners in the nation’s development,” he said.
Touching on the reforms Qatar has undertaken in recent years to bolster its investment environment, Al Khater said the country has been able to rapidly diversify local and global supply chains while stepping up efforts to improve its logistics networks.
Qatar now has one of the most advanced digital and logistical systems worldwide, connecting companies to global supply chains through advanced communications and transportation infrastructure, he said.
Foreign investors may tap infrastructure projects related to the FIFA 2022 World Cup and opportunities in a thriving industrial sector that witnessed an increase in the number of operating factories to 915 as of September.
The session featured a number of discussion panels that touched on Qatari investments in the US, investment opportunities in Qatar, the economic inclusion of women and the incentives Qatar Free Zones offer to investors.