Friday, 20 Apr 2018
Business

$ 27 billion in remittances to the United States

Minister of Economy addresses the joint forum in Charleston: Charleston – The Arabs Tuesday, 17 April 2018 12:57 p 18 $ 27 billion in remittances to the United States HE Sheikh Ahmed bin Jassim bin Mohammed Al Thani, Minister of Economy and Trade, affirmed Qatar’s keenness to deepen its economic relations with the United States. He also stressed the strategic importance of relations between Doha and Washington during his address to the Qatar-US Economic Forum in Charleston, South Carolina, in cooperation with the Qatar Chamber, the American Chamber of Commerce, the Qatar Businessmen Association and the Qatari Business Council. The forum is part of the Economic Mobility Tour in a number of US cities. He pointed out that the United States is the first source of Qatari imports in 2017. He pointed out that the volume of remittances from the State of Qatar to the United States in 2017 alone, about 26.5 billion dollars, including profits from business, salaries and payments. He added that the State of Qatar has increased its investment in the United States for many years, which contributed to the provision of thousands of jobs across America. The investments included partnerships with many American companies, including ExxonMobil, ConocoPhillips and Raytheon. Commenting on the oil and gas sector, he pointed out that Qatar Petroleum has allocated $ 10 billion to invest in a liquefied natural gas plant in Texas. The project will provide 45,000 jobs over the life of the station . He also highlighted investments in the private sector, stressing that the latter injected more than $ 5 billion in technology, hospitality, real estate and home appliances trading, thus contributing to the US economy. The Minister referred to the measures taken by the State of Qatar to break the unjust embargo imposed on it since 5 June 2017, which was aimed at undermining its position as an economically independent and sovereign state. Definition of For her part, Ambassador Anne Patterson, President of the American Business Council, said that the purpose of the forum in Charleston is to define the private sector in the United States with investment opportunities in Qatar. In return, American businessmen will introduce the Qatari delegation to investment opportunities in South Carolina. Ambassador Paterson said that the past months have given Qatar the experience and opportunity to achieve self-sufficiency and open new ports, explaining that there is much room for cooperation between Qatar and South Carolina in various fields. praise Mr. Tony Allyn, Director of the Foreign Direct Investment Program of the South Carolina Department of Commerce, praised the selection of the delegation to the economic tour of Charleston and South Carolina as part of their tour. “We hope this visit will enhance the relations between the two countries.” A delegation from the Qatar Investment Authority and Qatar Airways visited South Carolina last February and signed a contract to buy Boeing 787s from Boeing, he said, adding that there were many investment opportunities in South Carolina for Qatari businessmen, For businessmen in South Carolina, Qatar, pointing out that the economic mobility tour contributes to the definition of investment opportunities in both countries. “The state of South Carolina is open to business for all, with many opportunities and major state companies such as Boeing and some major banks and institutions,” he said. “It is one of the best states to attract foreign direct investment. In addition, the forum witnessed bilateral meetings between businessmen from both sides, during which they reviewed the investment opportunities available in the State of Qatar and the United States and discussed ways to build long-term economic cooperation mechanisms between Qatari and US companies.

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