Doha, Qatar: The volume of trade exchange between Qatar and the US has surged to over $9.46 billion in 2022, making Doha the ninth trading partner of Washington, Undersecretary of the Ministry of Commerce and Industry Sultan bin Rashid Al Khater said while presiding over the economic and trade cooperation session, which was organized within the framework of the fifth Qatar-US strategic dialogue.
Al Khater said that the total direct Qatari investments in the US amounted to about $69 billion, and that 856 US companies operate in the Qatari market.
During the session, representatives of a number of government agencies and relevant bodies from the Ministries of Commerce and Industry, Communications and Information Technology, the Qatar Investment Authority, the Investment Promotion Agency, and the Qatar Financial Center participated.
Al Khater pointed out that the World Bank expected Qatari economy to grow by 3.4 percent in 2023, and highlighted the international rating agencies’ confirmation of the strength of the Qatari economy, indicating a positive outlook for foreign investment and commercial interests.
He said that 90 percent of Qatar’s current gross domestic product comes through international trade in various sectors and assured the audience that Qatar will continue to improve its trade policies and adopt new ones to enhance the free trade system and the concept of economic openness.
The Undersecretary reaffirmed Qatar’s will to build its manufacturing, research and development capabilities, in addition to building a clean and renewable energy sector, and expanding the scope of its technological centers. He called on owners of US companies to benefit from projects, financial incentives, and legislative and legal frameworks provided by the government agencies’ programs in all these sectors.