US exports to Qatar hit QR18bn in 2013

March 14, 2014 - 4:40:27 am

US Secretary of Commerce Penny Pritzker (left) with AmCham Qatar Chairman Robert A Hager. Salim Matramkot

DOHA: The volume of US exports to Qatar totalled $4.95bn (QR18.02bn) in 2013, and the world’s largest economy has posted a trade surplus of $2.6bn (QR9.47bn) with the Gulf state during the first eight months of the same year (January-August), said a press statement issued by the American Chamber of Commerce Qatar (AmCham Qatar) yesterday. 

Since the launch of the US National Export Initiative in 2010, exports to Qatar have increased by 56 percent, establishing a new record and underscoring the growing importance of the Gulf as an American export market.

The trade figures were released on the backdrop of the visit of the US Secretary of Commerce, Penny Pritzker, who is leading a trade mission to expand Qatar-US trade ties and economic partnership. 

“I am so pleased to be joined on this trade mission by 21 US firms that are eager to partner with government and industry in Qatar,” said Pritzker during her address at the AmCham Qatar’s special edition of ‘Distinguished Speaker Series’ hosted in partnership with the National US-Arab Chamber of Commerce (NUSACC).

Pritzker said: “The United States and our businesses truly value our strong commercial and economic ties with the Gulf region, and recognise that working together is a win-win. American companies have the expertise to help Qatar construct world-class infrastructure, and when US firms sell their goods and services to new markets, the American economy stands to gain. I hope this trade mission will lead to many more mutually-beneficial relationships between our two nations.”

The Secretary discussed her Middle East trade mission with AmCham Qatar members, influential business leaders and members of the media. She also highlighted the growing commercial ties between Qatar and the US, and American efforts to boost exports to the region in the infrastructure sector, including project management and engineering; construction, architecture and design; and renewable energy and environmental technologies.

Later this month members of AmCham Qatar’s Executive Committee and Board of Governors are expected to lead a delegation to Washington, DC to meet Congressional leaders and administration officials to discuss opportunities for American businesses in Qatar and Qatari investment in the US. 

AmCham Qatar hosts a monthly Distinguished Speaker Series featuring thought leaders from institutions such as The Brookings Doha Center, Soufan Group, US Chamber of Commerce, Northwestern University, Patton Boggs LLP, Atkins and PwC.

Robert A Hager, Chairman AmCham Qatar, said: “On behalf of AmCham Qatar’s 128 members, I extend our deepest gratitude to Secretary Pritzker for prioritizing Qatar and the Gulf and taking the time to connect with the vibrant and growing contingent of American businesses operating here.” The Peninsula