Minister of Economy and Commerce H E Sheikh Ahmed bin Jassim bin Mohammed Al Thani speaking in Miami.
DOHA: Government officials and over 200 businessmen and officials from Qatar gathered in Miami to launch a multi-city Qatar Roadshow to highlight economic and culture partnerships with key American cities.
The roadshow features a high-level delegation from Qatar and includes representatives from the Ministry of Economy and Commerce, Ministry of Energy and Industry, Qatar Investment Authority (QIA), Qatar Chamber, Qatar Businessmen Association, Qatar Airways, Qatar Stock Exchange, Doha Film Institute, Qatar Foundation, beIN Sports, Manateq, Qatari Diar, and the Supreme Committee for Delivery & Legacy.
The government delegation is being led by Qatar’s Minister of Economy and Commerce, H E Sheikh Ahmed bin Jassim bin Mohammed Al Thani, and Qatar’s Ambassador to the US, H E Sheikh Meshal bin Hamad Al Thani. They will be joined at the launch by officials in Miami to welcome people from across the region to the roadshow, which will include the inaugural 2018 Qatar-US Economic Forum.
More than 300 senior business executives are expected to attend the event, including over 200 Qatari representatives. Business-to-business sessions will be held on the sidelines, as attendees seek to bolster the strong and long-standing economic partnership between Qatar and the US.
International trade and investment form a key part of Qatar’s future growth and diversification and the US is one of Qatar’s most valued global partners.
US is one of Qatar’s strongest trade partners. In the last 10 years (2007-2017) trade volume between two countries doubled from $3bn per year to $6bn. However, last year the trade volume reached $5.75bn, with a trade surplus in favour of US amounting to $4bn.
More than 658 companies established in Qatar with partnership between Qatari and American citizens, while there are 117 US companies operating in Qatar 100 percent owned by US citizens.
Around 15,000 American citizens living in Qatar where 5,000 high skilled individuals are currently working in the private sector in Qatar, and a million other American jobs depend on business with Qatar. In 2015, Qatar investment Authority pledged to invest $45bn for the period from 2015 to 2020, where $10bnof it goes to the infrastructure sector.
“Over the past decade, Qatar has cemented its partnership with the US in the form of direct investments, joint ventures and trade deals,” said the Minister of Economy and Commerce. “These investments have contributed to the creation of hundreds of thousands of jobs and countless new opportunities for investors and businessmen from both countries.” “Florida was chosen as the first stop on our US visit because Qatar has deep and substantial economic ties to the Greater-Miami area,” he explained.
Qatar Airways alone has provided a $92bn boost to the US economy through the purchase of American-made aircraft, a deal that supports 123,000 jobs.
In 2017 Qatar spent $208m on medical and healthcare for its citizens moreover there are 1200 Qatari students studying in US.
Qatar’s private sector has also invested heavily in Florida. Al Rayyan Tourism Investment Company (ARTIC) owns and operates the St Regis Bal Harbour Resort and the W Hotel in Miami.
“I am honoured to welcome hundreds of executives and officials from Qatar to Miami for the Qatar-US Economic Forum and the US-Qatar Business Council. This event is a testament to our city’s position as a thriving epicenter of global investment,” said Mayor Suarez. “Our economic potential as a global city, international hub, and preferred destination for partnerships and investments is a valuable resource that is becoming well known among the world’s most prominent business leaders. I look forward to building upon these relationships and sharing everything Miami has to offer with the international community”.
Qatar’s partnership with, and support for, the American people extends beyond bilateral trade, and encompasses humanitarian projects. Qatar has established a $100m fund to help American victims of Hurricane Katrina and gave $30m in aid for Hurricane Harvey. And, the privately funded Al Faisal Without Borders Foundation has launched projects to help rehabilitate American ex-convicts.
