ID :
187337
Wed, 06/08/2011 - 22:05
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https://oananews.org//node/187337
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US Aims to Boost its Exports to Qatar
Doha, June 08 (QNA) - Qatar's rank among the Middle East's leading export markets for US goods and services could go up further if American firms succeed in securing major projects, a senior official from the US Department of Commerce said.
Speaking to Qatar News Agency (QNA), US Assistant Secretary of Commerce for Market Access and Compliance within the International Trade Administration Michael C Camunez said, "Qatar currently ranks fifth, one rung below Egypt, among top markets for US exports to the Middle East. Four years ago Qatar was seventh which indicates a good growth rate and the prospects look bright for it to improving its ranking further."
US exports flows to Qatar have more than doubled in the five-year period from 2005 to 2010. According to US Department of Commerce, Bureau of Census figures exports to Qatar were around US$1 Billion in 2005 which expanded to $3.1 Billion last year, an increase by 16.6% over 2009 figure.
At a conservative growth rate of 20% per annum US exports to Qatar are anticipated to almost double further to reach $6 Billion in 2013, the Bureau estimates.
"We have a long track record with Qatar in the energy sector. HH the Emir Sheikh Hamad bin Khalifa Al Thani has put forward a very ambitious vision to transform the economy and move away from the hydrocarbon based economy to an alternative fuel based economy. We can provide excellent goods and services in alternative energy sector. We have some of the most competitive technology in this field that would be essential in helping the State of Qatar achieve its alternative energy goals," said Camunez. With Qatar poised for a fresh cycle of infrastructure, transportation and alternative energy growth, reaffirmed by its biggest ever budget this year, many countries including the US are keen to participate by providing technology, expertise and services in key sectors.
"We think the US can compete effectively in providing the full range of goods and services that Qatar will need to achieve its domestic goals," he said. "Beyond the bricks and mortar of physical construction there is a high degree of expertise, technology and project management would be required. We want to provide human capital, professional services that will help deliver, efficient, high quality, on-time infrastructure projects to providing the technology that will drive intelligent transportation and infrastructure systems."
Asked about the revenue goods and services exported to Qatar would generate for US, Camunez did not project figures. "I cannot give a specific figure from a US revenue perspective. The scale of expenditure happening in Qatar is breathtaking. The US cannot expect to win all of those bids, but we want to be competitive in as many as those projects as we can."
On the prospects of US trade with Arab nations, Camunez said, "There is tremendous promise in this region. President Obama, in his Cairo speech two years ago and recently two weeks ago, laid out a vision for the US policy and orientation in this part of the world. There is a young, dynamic population that is seeking economic empowerment and self-determination. We believe one of the several ways we can help promote stability in the region is help meet the economic needs of the people, particularly young people, of this region. Our objective is to deepen economic engagement with the Gulf as a region." Collectively the Gulf Co-operation Council (GCC) is the US' 10th largest trading partner which makes this region significant for the US economically as well as strategically. "Our economic and strategic interests are aligned. It is in our as well as the world's strategic interest to see robust economic growth and development in this part of the world," he said.
On US trade policy in the Middle East and North Africa region where some countries are currently facing uprisings, he said the US is committed to peaceful transition in each of these economies.
"We have invested financially in the building of institutions of civil society, strengthening economic infrastructures and mobilising the world community through the G20 to support through debt forgiveness and other initiatives the transition to a stable democracy.
"Economic engagement is the future. What the Arab spring demonstrates is that people here and throughout the world yearn for hope, opportunity and economic self-determination. They want opportunities to fully participate in the kind of standard of living and the quality of life that the rest of the world enjoys. The US policy is to support that kind of economic development."
On the challenges the US is facing in accessing new markets, Camunez said, "We generally promote and support open, liberal economies that are rules based that are committed to predictable and transparent regulations that give investors and economic actors some degree of confidence and predictability in the fair and even treatment here in the region."
Regarding non-tariff barriers that US firms face, he said, "These are market barriers that sometimes emerge for companies that are not from here which local firms do not face. We are trying hard that countries like Qatar continue reform and innovate and create open and transparent markets which ensure that companies are treated fairly. Qatar has made tremendous progress in reforming its economic system. It is generally very open to Foreign Direct Investment (FDI) as is evident by the US FDI here which was $12 Billion in 2010." The US economy has shown signs of recovery in recent months. Although its GDP increased 1.8% in the first quarter this year, the high unemployment rate is an issue of concern. With the US proactive on pushing its goods and services in the GCC, the prospects of increasing jobs for Americans look bright.
Talking on the unemployment rate issue, the Assistant Secretary said, "President Obama has given the highest priority to put Americans back to work. He has deployed a wide range of policies and initiatives to enable American companies to compete more effectively overseas.
"Around 95% of the world's consumers live outside the borders of the US and the president recognises that if American industry is going to be competitive and if we are to grow our economy we have to look to be competitive in overseas markets. So there are opportunities not just in Qatar but the Gulf region at large.
"It is a win-win situation for all. It gives the US the opportunity to sell its goods and services which put Americans to work and an opportunity for people of Qatar and the Gulf region generally because it brings the best quality goods and services to the region. It helps Qatar achieve its domestic energy and technology goals. It will help to build the capacity of Qatar."
One of the things that is distinctive about the US, in the way we do business with the world, is that when we engage with our trading partners we don't just engage in a transactional sense. We invest in human capital and the country on the whole. Ours is the largest FDI in Qatar and we want to continue this trend. Our investment over here is not just focussed on the benefit of US, but also benefiting Qatari people, he said in conclusion.
Speaking to Qatar News Agency (QNA), US Assistant Secretary of Commerce for Market Access and Compliance within the International Trade Administration Michael C Camunez said, "Qatar currently ranks fifth, one rung below Egypt, among top markets for US exports to the Middle East. Four years ago Qatar was seventh which indicates a good growth rate and the prospects look bright for it to improving its ranking further."
US exports flows to Qatar have more than doubled in the five-year period from 2005 to 2010. According to US Department of Commerce, Bureau of Census figures exports to Qatar were around US$1 Billion in 2005 which expanded to $3.1 Billion last year, an increase by 16.6% over 2009 figure.
At a conservative growth rate of 20% per annum US exports to Qatar are anticipated to almost double further to reach $6 Billion in 2013, the Bureau estimates.
"We have a long track record with Qatar in the energy sector. HH the Emir Sheikh Hamad bin Khalifa Al Thani has put forward a very ambitious vision to transform the economy and move away from the hydrocarbon based economy to an alternative fuel based economy. We can provide excellent goods and services in alternative energy sector. We have some of the most competitive technology in this field that would be essential in helping the State of Qatar achieve its alternative energy goals," said Camunez. With Qatar poised for a fresh cycle of infrastructure, transportation and alternative energy growth, reaffirmed by its biggest ever budget this year, many countries including the US are keen to participate by providing technology, expertise and services in key sectors.
"We think the US can compete effectively in providing the full range of goods and services that Qatar will need to achieve its domestic goals," he said. "Beyond the bricks and mortar of physical construction there is a high degree of expertise, technology and project management would be required. We want to provide human capital, professional services that will help deliver, efficient, high quality, on-time infrastructure projects to providing the technology that will drive intelligent transportation and infrastructure systems."
Asked about the revenue goods and services exported to Qatar would generate for US, Camunez did not project figures. "I cannot give a specific figure from a US revenue perspective. The scale of expenditure happening in Qatar is breathtaking. The US cannot expect to win all of those bids, but we want to be competitive in as many as those projects as we can."
On the prospects of US trade with Arab nations, Camunez said, "There is tremendous promise in this region. President Obama, in his Cairo speech two years ago and recently two weeks ago, laid out a vision for the US policy and orientation in this part of the world. There is a young, dynamic population that is seeking economic empowerment and self-determination. We believe one of the several ways we can help promote stability in the region is help meet the economic needs of the people, particularly young people, of this region. Our objective is to deepen economic engagement with the Gulf as a region." Collectively the Gulf Co-operation Council (GCC) is the US' 10th largest trading partner which makes this region significant for the US economically as well as strategically. "Our economic and strategic interests are aligned. It is in our as well as the world's strategic interest to see robust economic growth and development in this part of the world," he said.
On US trade policy in the Middle East and North Africa region where some countries are currently facing uprisings, he said the US is committed to peaceful transition in each of these economies.
"We have invested financially in the building of institutions of civil society, strengthening economic infrastructures and mobilising the world community through the G20 to support through debt forgiveness and other initiatives the transition to a stable democracy.
"Economic engagement is the future. What the Arab spring demonstrates is that people here and throughout the world yearn for hope, opportunity and economic self-determination. They want opportunities to fully participate in the kind of standard of living and the quality of life that the rest of the world enjoys. The US policy is to support that kind of economic development."
On the challenges the US is facing in accessing new markets, Camunez said, "We generally promote and support open, liberal economies that are rules based that are committed to predictable and transparent regulations that give investors and economic actors some degree of confidence and predictability in the fair and even treatment here in the region."
Regarding non-tariff barriers that US firms face, he said, "These are market barriers that sometimes emerge for companies that are not from here which local firms do not face. We are trying hard that countries like Qatar continue reform and innovate and create open and transparent markets which ensure that companies are treated fairly. Qatar has made tremendous progress in reforming its economic system. It is generally very open to Foreign Direct Investment (FDI) as is evident by the US FDI here which was $12 Billion in 2010." The US economy has shown signs of recovery in recent months. Although its GDP increased 1.8% in the first quarter this year, the high unemployment rate is an issue of concern. With the US proactive on pushing its goods and services in the GCC, the prospects of increasing jobs for Americans look bright.
Talking on the unemployment rate issue, the Assistant Secretary said, "President Obama has given the highest priority to put Americans back to work. He has deployed a wide range of policies and initiatives to enable American companies to compete more effectively overseas.
"Around 95% of the world's consumers live outside the borders of the US and the president recognises that if American industry is going to be competitive and if we are to grow our economy we have to look to be competitive in overseas markets. So there are opportunities not just in Qatar but the Gulf region at large.
"It is a win-win situation for all. It gives the US the opportunity to sell its goods and services which put Americans to work and an opportunity for people of Qatar and the Gulf region generally because it brings the best quality goods and services to the region. It helps Qatar achieve its domestic energy and technology goals. It will help to build the capacity of Qatar."
One of the things that is distinctive about the US, in the way we do business with the world, is that when we engage with our trading partners we don't just engage in a transactional sense. We invest in human capital and the country on the whole. Ours is the largest FDI in Qatar and we want to continue this trend. Our investment over here is not just focussed on the benefit of US, but also benefiting Qatari people, he said in conclusion.
