US-Qatar Trade Relations
Relations 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.