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Tribune News Network
Washington
Qatar is keen on further bolstering bilateral ties with US across all fields, particularly on the economic and investment levels, Minister of Economy and Commerce HE Sheikh Ahmed bin Jassem bin Mohammed al Thani has said.
"International trade and investment form a key part of Qatar's future growth and diversification. The US is one of Qatar's most valued and largest global partners," Sheikh Ahmed said on the sidelines of his participation in the reception organised by the US Qatar Business Council in Washington.
He said Qatari-US bilateral relations are all about helping people of both nations overcome challenges and capitalise on opportunities.
The minister said $24 billion worth of goods were traded in the last five years, noting that 84 percent of the trade balance is in favour of the US, the equivalent of $20 billion while 16.3 percent of Qatar's imports came from the US in 2017.
Meanwhile, more than 650 American companies are established in Qatar, including 117 companies 100 percent owned by US citizens, he said, adding that another 30 US companies operate under the Qatar Financial Centre.
Qatar has been increasing its investments in the US for many years, creating thousands of jobs across America. These include partnerships with numerous American companies, such as ExxonMobil, Boeing, ConocoPhillips and Raytheon, he noted.
Touching on Qatari investments in the US, he said Qatar Airways alone provided a $92 billion boost to the US economy through the purchase of 332 American aircrafts, a deal that supports more than 527,000 jobs.
He said the $146 billion worth of exports and orders to Qatar have generated one million American jobs that depend on doing business with Qatar.
Touching on the measures that Qatar undertook to counter the illegal blockade imposed on the country since June 5, 2017, he said Qatar has emerged stronger and more independent than ever before. The illegal blockade has presented an opportunity for Qatar to make its economy more accessible to the world and bolster its trade relations particularly with the US, he added.
