US Assistant Secretary of Commerce: Qatar is a Strategic Partner, US Seeks Further Cooperation with Private Sector

Doha, December 13 (QNA) - HE Assistant Secretary of Commerce for Global Markets, and Director General of the United States (US) and Foreign Commercial Service, Arun Venkataraman, considered the State of Qatar a strategic and commercial partner for the US and affirmed the pursuit of further cooperation with the private sector in various fields, as well as encouraging American companies to explore the Qatari market.
       This came during a meeting between the US Assistant Secretary of Commerce for Global Markets and HE the Chairman of the Board of Directors of the Qatari Businessmen Association (QBA) Sheikh Faisal bin Qassim Al-Thani, in which they discussed investment and trade opportunities between the two countries.
       Venkataraman pointed to many projects that the US and the State of Qatar can cooperate in, including infrastructure, technology, and service, which aligns with the Qatar National Vision 2030 of diversifying the Qatari economy away from the energy sector.
       He added that there are great investment opportunities within the US and its various states, and they are willing to provide all information about each state with the aim of facilitating cooperation and trade exchange.
       HE Sheikh Faisal bin Qassim Al-Thani explained that the volume of trade exchange between the State of Qatar and the US reached its peak of about USD 6.7 billion in 2022. It is on a continuous rise during this year, as the volume of trade between the two countries reached USD 5.55 billion during the first nine months of 2023, and is likely to be a record year by the end of it. This affirms the importance of the Qatari market and the great opportunities it has which American companies should explore. The QBA and the Qatari business community are prepared to work jointly to further advance the Qatar-US economic partnership.
       Member of the QBA, Salah Al Jaidah, said that the Qatari private sector has reached an advanced stage that enables it to cooperate and invest jointly with American companies.
       With artificial intelligence (AI) being a hot topic around the world at the current time, the Qatari business community also has a great interest in this field in the US due to its great potential and the progress the country has achieved in it, Al Jaidah added.
       It is worth noting that the total Qatari direct investments in the US amounted to about USD 69 billion. The development movement in the State of Qatar has been contributed mainly by American companies operating in the country. There are 850 American companies operating in the Qatari market in various sectors including sports technology, financial technology, construction, engineering, health, scientific research and more. (QNA)