Doha — A delegation of 18 American companies and over 30 U.S. business executives took part in the “2nd U.S.-Qatar Economic and Investment Dialogue” set up to open channels of communication between members of the business communities in both countries. The U.S. Chamber, as the organizer of the dialogue, worked in partnership with sponsors ConocoPhillips, Visa and Blue Rubicon. The success of the trade mission was marked by a closing lunch hosted by one of the event partners – the American Chamber of Commerce in Qatar.
Robert Hager, Chairman of the American Chamber of Commerce in Qatar, said: “American companies bring with them a number of innovations and transferrable skills that would give Qatari companies a critical competitive advantage. Qatari companies can take advantage of these skills by setting up a number of partnerships and finding new ways of working together, a key point of discussion during the business mission. This is the type of commitment we already see from mission sponsors, energy company ConocoPhillips, financial services company Visa and reputation management consultancy Blue Rubicon, who have all set up thriving business in the country. We are looking forward to paving the way for future economic cooperation between the U.S. and Qatar.”
The strong bilateral partnership is also evidenced by increasing trade volumes between the U.S. and Qatar, which have seen significant growth in recent years. The U.S. is one of Qatar’s largest trade partners — Qatar’s imports from the U.S. reached $3.3 billion during the first half of 2016, a 87 percent increase from the same period last year. Moreover, the Qatar Investment Authority (QIA) has renewed its commitment to invest over $35 billion in the U.S. over the next five years.
“The U.S. Chamber’s business mission is a great way to cap off 2016 and prepare for the coming year. By organizing this delegation of top American companies to Qatar for the bilateral dialogue, the U.S. Chamber is leading by action to strengthen and expand the vibrant commercial and investment relationship between our nations,” said Steve Lutes, executive director of the U.S.-Qatar Business Program at the U.S. Chamber.
Qatar and the U.S. inaugurated their first U.S.-Qatar Economic and Investment Dialogue in October of 2015, marking a milestone in the bilateral economic relationship between the two countries. The dialogue is intended as an annual forum for key decision makers to identify concrete steps to bolster financial, investment and economic relations.
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About the American Chamber of Commerce
The American Chamber of Commerce in Qatar (AmCham Qatar) is the first legally established foreign Chamber of Commerce in Qatar. AmCham Qatar was first launched February 2010 and is registered as a private institution for public benefit. AmCham Qatar is a non-profit, non-governmental and non-political organization dedicated to fostering mutual cooperation and understanding between Qatar and the United States through trade, commerce and investment.
AmCham Qatar’s principle objectives are to: Promote the expansion of trade and investment between the United States and Qatar Serve as a forum in which American business people in Qatar can identify, discuss and pursue common commercial interests; work with organizations in Qatar and internationally on matters of mutual interest; serve as a conduit of information to the governments and publics of the United States and Qatar concerning the improvement of business conditions; maintain relations with chambers of commerce in the United States and other chambers of commerce or commercial organizations; contribute to the development of a vibrant private sector in Qatar and uphold the highest standards of corporate and commercial practice.
About the Sponsors
ConocoPhillips
ConocoPhillips is the world’s largest independent exploration and production (E&P) company based on production and proved reserves and production of liquids and natural gas. ConocoPhillips explores for, develops and produces crude oil and natural gas globally. In 2003, ConocoPhillips started its collaboration with Qatar Petroleum through the development of Qatargas 3, a large-scale liquefied natural gas (LNG) project in Ras Laffan Industrial City, Qatar with a capacity of 7.8 million tons per annum (mta). ConocoPhillips holds a 30 percent interest in this integrated project comprising approximately 1.4 gross BCFD of natural gas production over the 25-year life span of the project, as well as an initial average volume of approximately 70 gross MBPD of liquefied petroleum gas and condensate combined from Qatar’s North field. To capture cost savings, Qatargas 3 executed the development of the onshore and offshore assets as a single integrated project with Qatargas 4. This included the joint development of offshore facilities situated in a common offshore block in the North field. This cooperation with ConocoPhillips offers new avenues of investment and growth and will be instrumental in the pursuit of global opportunities.
Visa
Visa Inc. is a global payments technology company that connects consumers, businesses, financial institutions and governments in more than 200 countries and territories, enabling them to use electronic payments instead of cash and checks. Visa provides processing services to financial institution clients through VisaNet, a centralized and modular payments network providing three essential functions in one complete, flexible package: transaction processing services, risk management services and information services.
Visa continually looks at how it can use its network breadth and payment expertise to extend the value of electronic payments so more people can use Visa in more ways and in more places around the world.
Visa develops payment products, which financial institution clients use to offer consumers greater choice in how they pay – pay ahead with prepaid, pay now with debit or pay later with credit. Visa owns and manages the Visa brand, which provides the assurance of acceptance at merchant outlets and ATMs in countries and territories worldwide.
Visa (is not a bank and) does not issue cards, extend credit or set rates and fees for account holders on Visa-branded cards and payment products. In most cases, account holder and merchant relationships belong to, and are managed by, financial institution clients.
With the expanding use of electronic payments, people’s daily lives improve, businesses operate more smoothly and governments become more efficient by partnering with local financial institutions, merchants, governments, nongovernmental organizations and business organizations to provide tailored solutions to meet their varied needs.
Visa brings its fundamental value proposition — convenience, interoperability, accessibility, and security — to people through new channels and on new devices. People pay and receive money to move forward, never backwards. Visa facilitates frictionless payments, therefore Visa fuels life’s momentum.
Visa’s vision is to be the best way to pay and be paid for everyone everywhere.
Blue Rubicon
Blue Rubicon is an award-winning strategic communications and public relations consultancy, specializing in transforming the reputations of some of the world’s leading companies and brands. As part of the Teneo Blue Rubicon Group, Blue Rubicon is part of a wider network of 15 offices and strategic hubs employing over 550 experienced consultants who offer world-class advisory and client service to the world’s largest and most complex organizations.
Well established in Qatar, the team of 15 experienced consultants combines an international view of communications with an understanding of the local landscape. The company’s first international office builds on a history of working with Qatari businesses since 2007.
Globally, the company’s strategic communications and reputation management services build value for clients by promoting and protecting reputation. Blue Rubicon offers world class consulting and client service to the world’s largest and most complex organizations. On a daily basis, Blue Rubicon’s consultants advise CEOs, business leaders and communications practitioners, providing strategic consultancy across the enterprise to build and transform reputations, always informed by sophisticated market intelligence. Blue Rubicon provides the comprehensive range of advice required to inform sound business decisions.
Blue Rubicon also has extensive experience advising clients on their communications with the financial community, including investors, analysts and financial media. The company has advised on important capital market transactions with a value totaling $250 billion, such as restructurings, IPO’s and fund-raisings, and large and challenging M&A situations. Blue Rubicon has specialist financial communications and investor relations capabilities located in New York, London and Dubai.
List of Companies Participating in the Mission
— ConocoPhillips (Lead Sponsor and Chair, U.S.-Qatar Business Program)
— Visa (Lead Sponsor)
— Blue Rubicon (Sponsor)
— Abbott
— Adelphi Capital
— Arabian Construction Engineering Co. (ACEC)
— Cigna
— Cisco Systems Inc.
— Dow Chemical Company
— ExxonMobil
— General Electric International, Inc.
— Gilead Sciences
— Lockheed Martin
— MasterCard
— MetLife
— New Image Building Services
— Occidental Petroleum of Qatar Ltd.
— Thomson Reuters
— U.S. Chamber of Commerce
— American Chamber of Commerce in Qatar
© Press Release 2016
