Qatar’s Minister of Economy and Commerce has revealed that the government has increased its investments in the United States over many years, creating thousands of jobs across the country. These investments include partnerships with several American companies, such as ExxonMobil, ConocoPhillips and Raytheon.
Sheikh Ahmed Bin Jassim Bin Mohammed Al-Thani made his comments during the opening of the Qatar-US Economic Forum in Miami, Florida, the Qatar News Agency has reported. The forum is organised by the ministry in cooperation with the Qatar Chamber of Commerce, the US Chamber of Commerce, the Qatari Businessmen Association and the Qatari American Business Council.
According to the minister, the trade volume between the two countries reached about $6 billion in 2017. The US, he added, is the primary source of imports to Qatar; 16 per cent of its imports came from America last year. “In the past five years,” Sheikh Ahmed pointed out, “the volume of trade between the two countries is valued at about $24 billion.”
Around 650 American companies currently operate in Qatar, of which about 117 are fully owned by the US. Fifty-five companies operate under the umbrella of the Qatar Financial Centre.