Qatar attaches great importance to economic diplomacy as a main pillar in its foreign policy, Qatar’s ambassador to the United States of America Mohamed bin Jaham al-Kuwari has stressed.
Over the past three decades, Qatar has been keen to promote economic diplomacy at regional and international levels. Qatar seeks through economic diplomacy to promote relations and friendship among nations, beyond profits and politics, the ambassador said.
Delivering a lecture at Robert H Smith School of Business at University of Maryland, College Park, ambassador al-Kuwari said that from Qatar’s perspective the economic diplomacy works in two directions: harness economic factors to enhance the foreign policy, and the employment of foreign policy to support economic relations.
He said that Qatar National Vision 2030 aims at diversification of the economy to transform it from an oil-based economy to a knowledge-based economy in order to achieve social and human development.
In order to realise that vision, Qatar was keen to enhance its economic relations with other countries in all fields. For example, Qatar Investment Authority opened an office in New York last year in order to invest more than $35bn in a number of American cities over the next five years, the ambassador pointed out.
He reiterated the importance of economic diplomacy in building relations and friendships among nations, referring to Qatar Katrina Fund which contributed more than $100mn for rebuilding projects in the city of New Orleans and neighbouring American cities, in an initiative that represented the distinct relations between the two countries.
The ambassador also pointed out to Qatar’s pledge at the Syria Donors Conference in London to offer $100mn in addition to the $1.6bn already provided to contribute to alleviate the tragedy of Syrian refugees.