Qatar's Minister of Economy Meets Representative of First District of South Carolina, US

Doha, September 09 (QNA) - HE Ministry of Economy and Commerce Sheikh Ahmed bin Jassim bin Mohammed Al -Thani met today with HE Mark Sanford, Representative of the First District of South Carolina, USA, who is currently visiting the country. During the meeting, they discussed ways to enhance bilateral relations between the State of Qatar and the United States, especially South Carolina State, in the economic and trade fields, as well as highlighting the opportunities to increase trade exchange in light of the potential and capabilities of the two economies. The two sides also reviewed the results of the economic tour of the United States, launched in its first edition in April, which included the holding of an economic forum, exhibition and bilateral meetings between businessmen from both countries in Charleston, South Carolina. They also discussed mechanisms to support joint investments and stimulate the private sector to establish innovative investment projects in key sectors that will serve the economic trends of the State of Qatar and the United States. The two sides stressed the importance of exchanging visits between businessmen from the State of Qatar and the United States and encouraging cooperation between government departments and the private sector to serve the common interests of the two countries. The meeting also discussed the developments of the Qatari economy, the investment opportunities offered by the State in all fields as well as initiatives launched to support the private sector and its role in enhancing its contribution to the overall economic development and attracting foreign direct investment. The latest measures taken by the State of Qatar to encourage and attract investments, including the draft non-Qatari capital regulation in economic activity, opened the door to foreign investors to 100% ownership in all sectors, as well as supporting investors' entry into the Qatari market were also discussed. Both the State of Qatar and the United States have close economic and trade relations, which reflected positively on the volume of trade exchange between the two countries, which amounted to QR 21 billion r in 2017. The United States is the first trading partner in terms of imports to Qatar by 16.3% Of Qatar's total imports. The number of US companies operating in Qatar is more than 650, of which 117 are wholly owned by the US, 20 are oil and gas companies and more than 30 are licensed under the Qatar Financial Center. (QNA)