Tag: Qatar Investment Authority

US-Qatar Trade Relations

qatarRelations between America and Qatar have historically been bilateral, putting them in the category of bilateral allies.  Following its break from the UK in 1972, the US set up diplomatic relations with Qatar, today making them valuable partners, with Qatar being supportive of America’s transformation.  As well, the regions work together on maintaining security in the Persian Gulf.

At the recent US-Qatar trade and investment council meeting that took place in Washington, Minister of Economy and Commerce Sheikh Ahmed pointed out how the increase in GDP of the contribution of the non-oil sector.  The escalation was around 8 percent from 2010 to 2015.  Ahmed said that it was the non-oil sector that had a substantial role in the state’s economic growth during this time frame.

It was then that Ahmed thanked the relationship between the US and Qatar for this strengthening.  He said: “The strong, friendly and economic partnership between Qatar and the United States has achieved remarkable economic growth and increased trade volume. The total trade volume between the two countries reached $4.5bn in 2015.”  He also noted the necessity of the US-Qatar friendship, adding that his region was “looking forward to further advancement and promotion of economic, commercial and investment cooperation between the two countries.”

Also at the council meeting were other Qatari representatives such as those from the Foreign Ministry, Transport and Communications Ministry, Finance, General Authority of Customs Ministry and Qatar Investment Authority, among others.

 

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Recent Qatari Investment Measures

qatar-airwaysQatar Investment Authority, is paying for S$3.4 billion ($2.5 billion) to become the new proprietor of BlackRock Inc.’s Asia Square Tower 1, which has a prime location in the region’s central business district.  According to a statement made by Qatar Investment Authority and BlackRock Monday, this move has been hailed as Singapore’s largest ever office transaction.  Qatar Investment Authority is the sovereign wealth fund in the region.

In other news, Qatar Airways launched its first ever commercial flight to Atlanta, USA.  Flights will be scheduled every day, featuring non-stop services between Hartsfield-Jackson International Airport and Hamad International Airport (HIA) in Doha.  This move was celebrated by operating the inaugural flights with one of its Airbus A380 aircraft.  Skytrax reigned “Airline of the Year.”

Customers have wanted this for some time since the Doha-based carrier’s statement read: “The inaugural inbound and outbound flights were sold out, demonstrating the need and desire for the new international service to and from Atlanta.” This sentiment was echoed by Akbar al-Baker, CEO of Qatar Airways who said: “From our very first flight, we see that our services are essential to this city, even in a major aviation hub such as Atlanta. We are broadening the horizon and giving seasoned business and leisure travellers convenient access to many new and important destinations around the world. Atlanta is home to dozens of Fortune 500 companies that conduct business around the world – businesses that need the convenience that only our flight, with connections in Doha, can provide. The first Qatar Airways departure proves the point that hundreds of passengers on the first flight from Atlanta took advantage of convenient connections to reach more than 40 destinations out of the airline’s global network of more than 150 destinations. The majority of connecting passengers flew on from Hamad International to India, Southeast Asia and African destinations, such as Nairobi, Addis Ababa, Asmara and Khartoum.”

Also, in the 17th Asian Junior Athletics Championship 2016, Qatar’s Ibrahim Moaaz Mohamed set the first championship record with a 60.49m effort in the men’s discus throw final in Ho Chi Minh City.

These examples above indicate that Qatar is fast becoming recognized as an impressive global entity.

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