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Washington, DC - October 28th: The US-Qatar Business Council (USQBC) in collaboration with Qatar Development Bank (QDB), hosted a virtual panel discussion on October 28th, 2020, entitled “Qatar’s Growing Exports: Sourcing Opportunities for US Buyers”.
The discussion, moderated by Mr. Mohammed Barakat, Managing Director of USQBC, focused on Qatar’s growing role as a partner of choice for US businesses looking to diversify their supply chains of high-quality, value-added products. Thereafter, attendees were introduced to QDB’s easy and efficient b2match business matchmaking platform to help match interested US buyers to their Qatari counterparts.
While the relationship between the two countries has flourished for over 50 years, the US-Qatar commercial relationship has greatly expanded recently. In 2019 alone, there was over $9.4 billion in trade between the countries, a growth of over 100% since 2017. US companies have already increasingly relied upon Qatari products with US goods imports from Qatar totaling $1.6 billion in 2018, up 31.3% ($375 million) from 2017, and up 224.5% from 2008.
Kicking off the event, Mr. Abdulaziz Nasser Al-Khalifa, CEO of QDB remarked, “For years, the United States has been a strong partner of Qatar and diverse business relations already exist. And now, after several years of diversification and growth across all sectors, our young and growing private sector is ready to partner and share experiences with the US market.”
Qatar Development Bank’s export promotion department carefully selected and backed 27 total Qatari companies participating in the matchmaking event. These businesses fell under six distinct categories: (Petro-) Chemical Products & Plastic Products, Metal Products, Construction Materials, COVID-19 Supplies, Industrial Products, and Electronics.
“Qatar's private sector is thriving, particularly our small and medium-sized enterprises. Today, these companies offer a range of exceptional and innovative products, at tremendously competitive prices due to the unique advantages of producing in Qatar,” said Mr. Fahad Al-Dosari, Qatar’s Commercial Attaché to the US. “Qatar's companies are eager to bring more of these products to the US market, to further deepen our already strong trade relationship.”
“Qatar’s recent export developments, innovations, and new capabilities showcase the country’s remarkable commitment to diversifying its economy and manufacturing high-value products,” said Mr. Mohammed Barakat, Managing Director of USQBC. “With the great speed of these developments coupled with attractive incentives, American companies are quickly realizing that Qatari companies can be a reliable and cost-effective solution to their procurement needs.”
The US-Qatar Business Council is the premier entity to facilitate trade and investment between the two countries and provides advisory and consulting services, issues reports and publications, and hosts events to build business relationships between the US and Qatar. USQBC is dedicated to helping its American and Qatari members expand their business and encourage foreign investment and trade.
To visit the b2match matchmaking platform, click here.