15 Nov 2017 - 0:40
US to diversify its exports to Qatar: William Grant
By Satish Kanady / The Peninsula
The US is working on a trade plan that would focus on diversifying its exports to Qatar. Currently, majority of the US exports to Qatar are concentrated in a few industries, William Grant (pictured), Charge d’Affaires, US embassy in Qatar, said.
“The majority of US exports are currently concentrated in transportation and heavy equipment, particularly in aviation; vehicles; electronics and communication. We want to expand that into energy, financial services and other fields”, Grant said while delivering a key note address at the “Doing business and investing in US & Qatar Forum”, Monday.
American companies have a competitive edge in global market, particularly industries that involve complex design, engineering, and advanced manufacturing. No matter what the product or service, American companies that market globally put immense focus on research, design, innovation, quality, a customer-centric culture, transparency and ethical business practices, he said.
The relationship between the United States and Qatar is strong and getting even stronger. “We are seeing good returns across many lines of effort: diplomatic, military, trade, investment, the fight against the financing of terrorism, increased protections of workers rights, the worldwide effort to stop trafficking in persons---the list is long and getting longer. “
On the business side, over 100 American companies operating currently in Qatar and the volumes of trade between our two countries reached more than $6bn in 2016.
Underscoring Qatar-US relations, Grant recalled that Qatar Investment Authority (QIA) opened its New York two years ago. The QIA is in the final stage of opening its second office in Los Angeles. QIA is moving actively on its investment program in the US, he said.
According to Grant, private from Qatar have also been increasing their focus on the US market, particularly in the strong-performing sectors like real estate, hospitality, retail, and technology.
“Our two governments are very likeminded when it comes to making sure that we do what is needed so that the private sectors can succeed. Both the US and Qatar do not want government to be a problem”.
The US is committed to our long-standing partnership with Qatar and to growing our two-way trade and investments. There are boundless opportunities that both our nations can benefit from, both today and into the future.
A year ago Qatar and the US held the first government-to-government Economic and Investment Dialogue (EID) in Doha.
“In the first quarter of 2018, we expect to have the second one, an expanded bilateral dialogue in Washington. The purpose is to identify barriers to economic success and address them and pursue policies that facilitate more trade, more investment, more economic growth and more jobs.”
The US will continue to work even more closely with Qatar in 2017, especially in light of the Gulf dispute that started this June. “And I assure you, we remain fully engaged in the efforts to help bring this dispute to a close,” Grant said.