Qatar- US Strategic Dialogue: Boosting Bilateral Trade and Investments
The visit of a delegation from Qatar, headed by Assistant Undersecretary for Industry Affairs and Business Development at the Ministry of Commerce and Industry, Saleh bin Majid al-Khulaifi, to Washington DC marked a significant milestone in US-Qatar relations. The focus of the sixth strategic dialogue between the two nations was increasing collaboration and drawing more foreign direct investments towards the priority sectors in Qatar under the nation’s third National Development Strategy (NDS3).
Stressing on Qatar’s Commitment towards Chemical Industry and Oil & Gas Field Services
Saleh bin Majid al-Khulaifi, during his visit, underscored Qatar’s dedication to bolstering its capacities in developing the scope of their chemical industries, oil, and gas field services. The Gulf nation is set to reveal several appealing investment opportunities in 2024, with a massive investment exceeding the mark of $100bn across various industry sectors.
Rising Bilateral Trade Volume
One of the highlights of the dialogue is the rise in the bilateral trade volume. It clocked in at a whopping $5.5bn up until October 2023, primarily driven by the substantial contributions from more than 912 US companies operating in Qatar.
Areas of Collaboration
The sixth strategic dialogue covered a range of cooperative areas between the two countries. From manufacturing and logistics services to information technology and digital financial services, a broad spectrum of sectors were discussed. Furthermore, sectors like food and agriculture, healthcare, low-carbon metal production, and the integration of renewable energy sources received special emphasis as parts of Qatar’s priority industries.
Offering Incentives and Promising Opportunities
The strategic dialogue also shed light on the promising opportunities available within Qatar, along with various incentives and legislation changes, aimed at urging more investments into the country.
Participation from Various Qatari Government Entities
In a show of the strategic dialogue’s vital importance, representatives from multiple Qatari government entities participated in the event. This participation accentuates the significant role of the dialogue in advancing economic, trade, and investment partnerships between the US and Qatar.
