QC Discusses Empowering SMEs with US-Qatar Business Council

Qatar Chamber held a meeting today with some members of the US-Qatar Business Council, currently visiting Doha lead by Chairperson of the council HE Ambassador Anne Patterson. The two sides discussed means to promote economic and trade cooperation in addition to supporting and developing small and medium enterprises (SMEs)

Chairman of QC HE Sheikh Khalifa bin Jassim bin Mohammed Al-Thani, said that the trade, economic and investment cooperation between the State of Qatar and the United States has reached high levels during the past period, especially after the economic tour which has achieved great success in strengthening the cooperation relations between the private sector of Qatar and the US.

He added that the volume of trade exchange between the two countries has doubled over the past few years to reach about USD 6 billion in 2017, which makes the United States one of the Qatar’s biggest trading partners, pointing that there are many mutual investments on both sides. He expected that the future will witness an abundance of opportunities for cooperation between the two parties, as well as more promising partnerships.

He also voiced QC’s welcoming of the activity of more US investments and companies in the Qatari market, urging both sides to enter into partnerships and trade alliances that benefit the economies of the two friendly countries, especially at the level of small and medium enterprises.

HE Sheikh Khalifa bin Jassim bin Mohammed Al-Thani stressed that the State of Qatar, despite the one year siege, has managed to achieve significant economic growth and to continue to set up major projects at the same pace. In the meantime, the past period has seen the issuance of new laws and the introduction of major amendments to many existing legislation in order to attract and promote domestic and foreign investments, which helped to increase the competitiveness of the national economy, and contributed to attract more investments to the State.

Chairperson of the US-Qatar Business Council Ambassador Ann Patterson said that the Council seeks to strengthen the relations of cooperation and partnership between the private sector in both countries by building a foundation for a strong partnership between the State of Qatar and the US, facilitating trade initiatives, exploring possible investment opportunities and strengthening economic ties between the two countries. she added that the Council expects volume of trade exchange between Qatar and US, to double in the coming phase, especially that Qatar’s economic policies have removed restrictions on foreign investment and will open more financial and investment opportunities and provide more jobs.

She added, in remarks, that the Qatari economy is performing well despite the current circumstances, citing the IMF’s recent report and its praising of the results achieved by the country’s economy and its ability to overcome the negative effects of the siege imposed on the country.

Patterson revealed that there is increasing interest from US companies in investment in Qatar’s energy sector, especially after Qatar has announced that it will increase its LNG production from 77 million to 100 million tonne in the coming period, in addition to the desire of the US side to develop cooperation with Qatar in the financial field and with small and medium enterprises.

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