Us Qatar Free Trade Agreement

Sustainable development is a priority of the government`s trade and investment strategy. The Investment Law provides that when approving a foreign majority stake in a project, the authorities must ensure that it aligns with the state`s broader development plans in implementing Qatar`s National Vision 2030 (QNV 2030), which aims to increase economic diversification, stimulate non-oil growth, improve added value in the hydrocarbon sector and develop human capital. In a 2014 investment climate report, the U.S. State Department found that Qatar prioritizes projects that use raw materials from the region, produce products for export, produce new products, use innovative technologies, support knowledge transfer and improve human resources. In the construction sector, large contracts are typically awarded to joint ventures between foreign and local companies, in line with diversification and Qatarization priorities in 2030. The UAE is a party to several multilateral and bilateral trade agreements, including with GCC partner countries. Under the GCC, the UAE has strong economic relations with Saudi Arabia, Kuwait, Bahrain and Oman, which means that the UAE shares a common market and customs union with these nations. Under the Greater Arab Free Trade Area Agreement (GAFTA), the United Arab Emirates has access to free trade with Kuwait, Bahrain, Qatar, Oman, Jordan, Egypt, Iraq, Lebanon, Morocco, Saudi Arabia, Tunisia, Palestine, Syria, Libya and Yemen Export growth has been supported by initiatives to improve the non-oil economy. For example, the Qatar Development Bank (QDB) launched its Tasdeer program in 2011, which provides export credit insurance and advisory services to exporters. QDB reported QR250 million ($68.5 million) in new orders for Qatari exporters after 60 Qatari SMEs participated in 10 QDB-backed international trade fairs. Describes the bilateral and multilateral trade agreements in which this country participates, including with the United States. Contains websites and other resources for U.S.

companies to get more information on how to use these agreements. In recent years, Qatar has recorded considerable budget and trade surpluses and reached historic highs, fuelled by regular hydrocarbon exports, growing demand for imports, measured market liberalization and an expansion of bilateral trade relations. Although foreign direct investment (FDI) flows declined in 2013, foreign direct investment flows increased and consolidated the State`s position as a central international investment agency. Bilateral trade between Qatar and its major Asian trading partners grew strongly in 2014, the last time the Qatar Investment Authority (QIA) signed billions of investment swap and currency swap agreements with China. . . .

Comments are closed.