Qatar-US bilateral trade volume has reached QR11.72bn ($3.21bn) during the first nine months of this year ended September 30, 2020. The US trade surplus with Qatar for the period (January-September 2020) stood at QR5.42bn ($1.49bn), official data show. 

The US exports of goods to Qatar during the January - September 2020 period reached $2.35bn (QR8.55bn), while its imports from Qatar stood at $860m (QR3.13bn), according to the latest data published by the US Census Bureau on its official website.

When analysed on annual basis, the official data show that the exchange of goods between Qatar and the US was severely impacted during the period understandably due to the coronavirus-led measures and lockdowns in both the countries. The trade exchange during the period (January-September 2020) fell by over 40 percent compared to QR19.77bn ($5.43bn) registered for the corresponding period last year (January-September 2019). 

As a result of sharp fall in trade volume between the two countries, the US trade surplus has also witnessed a decline of over 43 percent (year-on-year) compared to QR9.57bn ($2.62bn) recorded for the same period last year.

Meanwhile, it's worth mentioning that the Qatar-US bilateral trade volume had reached at all time high in 2019 breaching the previous peak level recorded in 2014. The total value of goods exchanged between the two countries during 2019 jumped to nearly QR30bn ($8.15bn), registering a double-digit growth of 36 percent (year-on-year) compared to QR21.84bn ($5.99bn) in 2018, US Census Bureau data show.  The exchange of goods between Qatar and the US is expected to witness sharp recovery as public and private organizations from both the countries are working aggressively to boost the economic ties. The level of cooperation between Qatar and the US is likely to expand and deepen in new areas, including more cooperation in small and medium-sized enterprises (SMEs) sector as Qatar has accelerated the process of economic diversification.

The trade representative bodies, industry chambers and diplomatic missions from both the countries are working in close cooperation and exploring investment opportunities in new sectors in Qatar as well as in the United States. 

'QatarZones (including Qatar Free Zones as well as Industrial Economic Zones) is an ideal environment for foreign direct investment where investors from around the world, including the #US, own 100% of their business and participate in a growing and fruitful economic environment in #Qatar, said the Qatar Embassy in USA in a tweet on Friday. 

'The Qatar Free Zones Authority stimulates Qatar's economic development by attracting foreign direct investment in the free zones, noted an infograph shared by the Qatar Embassy which also highlighted the $3bn investment fund and 20-year renewable period of 0% corporate tax and other attractive benefits offered by the QFZ Authority. 

A number of leading Singaporean, Chinese, German and US companies have already partnered with the QFZA, which include tech majors like Microsoft and Google.

In early June this year, the Minister of State H E Ahmad bin Mohamed Al Sayed, who is also the chairman of QFZA, addressed a webinar hosted by the US Chamber of Commerce which was also attended by representatives from leading US corporations and household names such as Apple, Boeing and ExxonMobil. This reflects the growing economic and investment ties between Qatar and the US.  

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