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H.E Sheikh Ahmed bin Jassem bin Mohammed Al-Thani, Minister of Economy and Commerce, participated on Monday January 29, 2018 in the reception organized by the U.S. Chamber of Commerce to honor the Qatari delegation participating in the Qatar-US Strategic Dialogue held in Washington DC.
His Excellency Sheikh Mohammed bin Abdul Rahman Al Thani, Deputy Prime Minister and Minister of Foreign Affairs chaired the Qatari delegation, which brought together H.E Mr. Ali Shareef Al Emadi, Minister of Finance, HE Dr. Mohammed bin Saleh Al Sada, Minister of Energy and Industry, HE Sheikh Abdullah bin Mohammed bin Saud Al Thani, Chief Executive Officer of Qatar Investment Authority.
The US delegation was headed by H.E Mr. Rex Tillerson, US Secretary of State, along with a number of ambassadors and representatives of major American companies.
In his opening speech, H.E. Sheikh Ahmed hailed the history of friendly ties between the State of Qatar and the U.S. in the economic and trade fields.
The minister stressed that international trade and investment form a key part of Qatar’s diversification strategy, noting that the US is Qatar’s sixth trading partner with a total of $6 billion worth of traded goods.
H.E. said that 16% of Qatar’s imports came from the US in 2017, adding that the trade balance registered a surplus of $5 billion Dollars in favor of the US.
H.E. also noted that over 505 joint Qatari-U.S. firms and around 102 fully owned U.S. companies are operating in Qatar including 20 companies that operate in the field of Gas and petroleum while around 40 U.S. companies are licensed under the umbrella of the Qatar Financial Centre.
Sheikh Ahmed highlighted that Qatar has been increasing its investments in the United States over the years, creating millions of jobs across America. These include partnerships with numerous American companies, such as ExxonMobil, ConocoPhillips, and Raytheon.
In this context, H.E the minister pointed out that over 5,000 U.S. nationals currently work in the private sector in Qatar, while a million other American jobs depend on business with Qatar.
H.E. also hailed Qatar Investment Authority for pledging to invest $35 billion for the period from 2015 to 2020 and an additional $10 billion for infrastructure sector.
He noted that the investment program is moving along this target after Qatar Airways alone provided a $92 billion boost to the U.S. economy through the purchase of 332 American aircraft, a deal which supports more than 527,000 jobs in the United States.
On another note, H.E. highlighted that the US-Qatari gathering comes at a time of global economic uncertainties and challenging circumstances for Qatar, following the imposition of the illegal blockade on the country on June 5th of last year.
A blockade aimed at undermining Qatar’s position as an economically-independent and sovereign state, the minister said.
However, today, Qatar emerges stronger and more independent than ever before, he added.
H.E. stressed that the illegal blockade has presented an opportunity for Qatar to make its economy more open to the world.
In this context, the minister said Qatar has successfully established direct commercial routes with a number of strategic hubs around the world, diverting trade to its major trading partners.
Touching on the Qatari economy, H.E. said the wise policies adopted by the State contributed to increased productivity across all sectors, which reflected positively on the national economy and led to positive growth rates over the past year, reflecting the Qatari economy resilience and ability to weather the illegal blockade.
In 2017, Qatar’s GDP Increased to $220 billion USD compared with $ 218 billion in 2016, the minister said, noting that the country’s annual real GDP growth rate at constant price reached 2 % in 2017.
Quoting the latest report released by the World Bank, H.E. said Qatar’s real GDP growth is expected to increase to 2.6% in 2018, adding that the contribution of the non-oil and gas sector to GDP at constant price reached 52% in 2017.
Qatar’s foreign trade has also shown remarkable growth in 2017, the minister said, adding that the total foreign trade volume has increased by 16% in 2017 to reached $ 103 billion USD, compared with $ 89 billion USD in 2016.
H.E. added that Qatar’s total exports increased by 19 % to reach $ 68 billion USD in 2017, from $ 57 billion in 2016, reflecting positively on the trade balance, which recorded a significant surplus at 40% – from $25 billion in 2016 to $35 billion in 2017.
All these positive indicators demonstrate that Qatar has overcome the blockade and enhanced its economic competitiveness, which positions Qatar as a highly attractive destination for US investments, the minister said.
Touching on Qatar’s investment climate, the minister highlighted the country’s attractive characteristics, noting that Qatar is one of most politically stable countries in the Middle East with an economy that performed well, driven by petroleum sector revenues despite global and regional challenges.
The Minister also praised the wisdom of the country’s leadership and its decision to transform Qatar by 2030 to a knowledge-based economy driven by the private sector.   
Thus, the government is adapting its business model to this vision, the minister said, noting that Qatar is positioning itself to be a private sector driven regional hub for trade in high tech and value-added goods and services as well as to attract workers with world class skills to support investments and internal market in the state of Qatar.
In this context, H.E. said Qatar’s business environment is being designed and improved to diversify the economy and encourage foreign direct investments. In addition to the backing provided by a strong sovereign credit rating, foreign investors now enjoy a flat low rate of taxation, guarantees of ownership, a business friendly environment and a world class infrastructure for improved access to regional markets, the minister said.
In his concluding remarks, the minister said Qatar provides special incentives for projects being implemented in key sectors. 
In addition to 100% ownership and tax exemptions for up to six years, the minister said the government is offering opportunities for public-private partnerships in specific areas which will give foreign investors an edge in accessing regional markets, inviting U.S. companies to tap these opportunities and invest in Qatar.
For his part, H.E Mr. Rex Tillerson, U.S. Secretary of State, praised US-Qatari relations, stressing that bilateral ties are characterized by their strength and continuous development across all fields.
Mr. Tillerson also hailed Qatar’s positive economic growth rates and its advanced ranking on several indicators, calling on US companies from various sectors to tap investment opportunities offered by the State of Qatar, which would benefit both countries.
The U.S.-Qatar Strategic Dialogue is a reflection of the close cooperation between the State of Qatar and the U.S. on the political, security, economic and cultural levels.