H.E. Undersecretary of Ministry of Commerce and Industry stresses strength of Qatari-U.S. bilateral relations

Industry

His Excellency Sultan bin Rashid Al Khater, Undersecretary of the Ministry of Commerce and Industry, chaired the Economic and Commercial Cooperation Session organized within the fourth annual Qatar-U.S. Strategic Dialogue, taking place in Washington DC.

 

On the Qatari side, representatives of a number of government agencies and relevant bodies participated in the session including the Ministry of Commerce and Industry, the Ministry of Finance, the Investment Promotion Agency, the Qatar Investment Authority, the Qatar Central Bank, the Qatar Development Bank, and the US-Qatar Business Council.

 

During his speech at the session, H.E. the Undersecretary of the Ministry of Commerce and Industry stressed that the meeting represented the longstanding ties between the two nations and reaffirmed their mutual commitment to strengthening the economic and commercial cooperation between the State of Qatar and the United States of America.

 

Qatar has taken unprecedented measures to limit the virus’s impact, both socially and economically, including economic stimulus packages, H.E. Mr. Al Khater stated.

 

Qatar’s national vision, QNV 2030, emphasizes the importance of women’s participation in strengthening and building the future of Qatar, H.E. affirmed, noting in this regard that Qatar today had the highest rate of female economic participation in the Arab world and that many Qatari women occupied leading and executive roles in both the public and private sectors.

 

Qatar is pursuing economic diversification to gradually reduce its dependence on hydrocarbon industries, and move toward a knowledge-based economy, H.E. stated.

 

Qatar will continue to expand and modernize its world-class transportation and communications infrastructures to bolster trade and logistics, H.E. Mr. Al Khater affirmed.

 

H.E. Mr. Al Khater indicated that Qatar hosted about 120 wholly-owned U.S. companies, and 640 U.S.-Qatar joint ventures.

 

H.E. said Qatar is on its way to becoming a regional hub for technological innovation. The State has created special economic zones to attract foreign capital, particularly in the fields of logistics, FinTech, and advanced manufacturing, H.E. Mr. Al Khater pointed out, further stating that these distinct commercial areas provided significant fiscal and regulatory incentives, in addition to infrastructure support.

 

At the conclusion of his speech, His Excellency the Undersecretary of the Ministry of Commerce and Industry

reiterated Qatar’s commitment to fairness, transparency, high standards, and the rule of law in international trade and investment, which in turn, would instill a more open global trading system.

 

The Economic and Commercial Cooperation Session featured several discussion panels on Qatari investments in the United States; investment opportunities in Qatar and the U.S.; ways to deepen capital markets and accelerate Fintech; and women’s economic participation.

 

Source: Ministry of Commerce and Industry