Qatar-US bilateral trade above $1.25b in 1Q 2012

DOHA – Trade between Qatar and the United States increased to over $1.25 billion in the first quarter of the year, Robert W. Dunn, a senior commercial officer at the US Embassy in Doha, said in a report published by Qatar Times.

He said US exports to Qatar in the first quarter totaled $965.5 million while imports to the country amounted to $287.3 million.

"We have a trade surplus of $678.2 million in our favor in the first quarter," Dunn said.

Dunn cited exports to the Gulf nation in energy, aviation, automobile, healthcare and infrastructure.

"Our companies are world leaders with proven abilities in their respective fields. Hence it is only natural these companies find success here," he said. He added that the two-way trade between the US and Qatar hovered around $4 billion.

The total bilateral trade in 2011 stood at $4 billion, he said. Last year, US exports to Qatar accounted for $1.2 billion while imports totaled about $1.2 billion, Dunn said.

Economic Officer Sonam Liberman at the US embassy in Doha added that enhancing trade with the Middle East is "very important" for the US.

"The Middle East is a growing part of the world and has a great potential for trade. Trade and economic development are important to achieve stability," Liberman said.

On Economic Statecraft, a US policy in an "age of economic power," Liberman said it meant both harnessing global economic forces to advance America’s foreign policy and employing the tools of foreign policy to shore up the country’s economic strength.

"Here in Qatar, we practice it every day. Expanding trade and investment not only benefits our countries economically, but also enhances our bilateral relationship," Liberman said.

He said a key element of the US policy is to enhance "inward investments" and in that context the country has designed what is called SelectUSA.

"Our missions work with a broad range of local partners across the globe to help attract investment to the United States. We welcome our Qatari partners to join the SelectUSA project," Liberman said. – Agencies