Tribune News Network
Doha
Increased cooperation between British and Qatari companies has opened many avenues in bilateral trade, leading UK exports to Qatar to surge by 100 percent last year, said Greg Hands, the UK’s Minister of State for Trade Policy.
He met with a delegation from the Qatari Businessmen Association (QBA) during a business lunch hosted by the organisation in Doha recently.
The two sides discussed ways to support trade exchange and boost trade between the two countries.
The meeting also covered the latest developments in the free trade agreement negotiations between the Gulf Cooperation Council countries and the United Kingdom, which the two sides highlighted its importance in contributing significantly to economic growth and enhance trade in goods and services, advanced technologies and other sectors, in a way that serves the common interests of both sides.
Hands said that the United Kingdom and the State of Qatar have long-term trade relations. He also pointed out that during his meetings, Qatari officials demonstrated the commitment of both countries to delivering greater prosperity through global free trade, by working closely with key organizations such as the Qatari Businessmen Association.
Hands also expressed his optimism about a better future for his country after leaving the European Union, saying: “We in the United Kingdom are working on consolidating our relations with important countries such as the State of Qatar and all Gulf and African countries and other economic partners to enhance the prospects for economic and trade cooperation for the country, while I want to bring a clear message to our partners in Qatar that the United Kingdom looks forward to cooperating with the Qatari Businessmen Association to attract more investments, and we now have a great opportunity to strengthen our position in an increasingly interconnected world.”
From QBA, the meeting was attended by Sherida Al-Kaabi,Saud Al-Mana, Omar Al-Fardan, Nabil Abu Issa, Maqbool Habib Khalfan, Dr. Muhammad Altaf, Hakan Ozdemir, along withSarah Abdallah, QBA deputy GM.
For his part,Saud Al Mana, spoke about the bilateral relations between the State of Qatar and the United Kingdom, which extend to ancient historical roots. He also pointed out the economic relations between the two countries and the importance of constantly developing them.
During the discussion, Omar Al-Fardan also stressed the interest of Qatari businessmen in the British market, where there are already many Qatari investments, whether in the public or private sector, as the British market is the preferred investment destination for the Qatari businessman, adding that it is a market full of opportunities.
Bilateral Trade
It is worth noting that the United Kingdom is a major trading partner for the State of Qatar, as the Planning and Statistics Authority’s figures indicate that the year 2022 was exceptional in trade relations between the two countries, where the volume of trade exchange reached 36 billion riyals, in which Qatar gained the lion’s share by exporting a value of 31 billion riyals, which is about three times higher than in 2021, when it reached 11 billion riyals, in addition to the presence of major British companies in Qatar, such as Shell, which has been one of the major investors in the region for several years, in addition to many British companies active in infrastructure projects in Qatar, especially architecture, design, project management and engineering consulting companies.
