(MENAFN- The Peninsula) SelectUSA executive director ambassador Vinai Thummalapally visited Qatar and met with business and government leaders to highlight investment opportunities in the United States.
SelectUSA is a US Government-wide programme that offers assistance to international companies as they seek to expand their business into the United States. "Our thriving trade and investment partnership with Qatar continues to grow, providing tremendous opportunities for Qatari and American businesses," said US Ambassador to Qatar Dana Shell Smith yesterday. Thummalapally introduced SelectUSA and investment opportunities in the United States during his meetings in Qatar. He announced that the Department of Commerce is hosting the second SelectUSA Investment Summit in Washington, DC from March 23 to March 24. The Summit will showcase investment opportunities from every corner of the United States, while high-profile business and government leaders share their insight on the latest business trends.
"This visit has provided great insight into how we can expand our services for Qatari companies as they consider investing in the United States," said Thummalapally. "There is a wide variety of opportunities for companies of all sizes to find the resources, customers, and ideas they need to be competitive. Success in the US market can help drive success globally."
Housed in the Department of Commerce, SelectUSA serves as a single point of contact to ensure Qatari investors will have the opportunity to learn more about how, where and why to invest in the United States. Interested participants can register for the Summit at www.selectusasummit.com. New this year: the day before the summit on March 22, first-time investors can learn the basics of investing in the US.
US-Qatari commercial ties have expanded at a rapid pace over the last three years, with US exports growing to nearly $5bn in 2013. Currently, the US accounts for 20 percent of Qatar's total imports, making it Qatar's number one import trading partner. American transportation equipment constitutes more than half of US exports to Qatar in 2014.
Earlier, addressing a meeting hosted by the American Chamber of Commerce, Qatar, Thumalappally noted the US economy is showing strong signals of recovery. The $17 trillion economy is projected to grow by 3.4 percent. The US saw $200bn foreign investments in 2013. "We are looking for a better number for this year," he said.
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