U.S. State Department said Tuesday that the United States and Qatar on Monday reached a set of understandings on civil aviation aimed at ensuring a level playing field in the global aviation sector.
Regarding the key issue of financial transparency, the relative airlines should issue public annual reports in the coming year with financial statements audited externally in accordance with internationally recognized accounting standards, according to the Understandings.
Within two years, those airlines should publicly disclose significant new transactions with state-owned enterprises and take steps to ensure that such transactions are based on commercial terms.
Officials of the two countries plan to meet again within one year to discuss progress.
U.S. Secretary of State Rex Tillerson and his Qatari counterpart Mohammed Al Thani have welcomed the outcome at the U.S.-Qatar Strategic Dialogue held on Tuesday in Washington.
In an announcement, the State Department said the Understandings were to address concerns that U.S. carriers have raised regarding the government support of Qatar’s flagship carrier, Qatar Airways, referring to “subsidized competition and a lack of transparency,” while maintaining the Open Skies framework of U.S. international aviation policy…