Qatar a forward looking nation with dynamism and ambition

I have come to know the Gulf well over the course of my career. My previous role as the British Defence Minister meant I was a regular visitor to the region. Yet every time I visit I can";t help but be impressed by the sheer ambition, creativity and potential on show. As I visit Qatar in my new role as Secretary of State for International Trade I am struck by the dynamism and ambition I see – a forward-looking country working towards an exciting national vision and preparing to host the World Cup in 2022.

Qatar, like the UK has a proud trading history. It is in our blood. The Arabian Gulf has always been an extremely important trading route for goods travelling from Asia to the Mediterranean and onto Europe. But it isn";t just goods that have been traded, the routes brought with them philosophy, religion and art – spreading cultural as well as economic prosperity. History has shown that open, trading economies generate wealth, create jobs, increase consumer choice and value for money and lead to higher standards of living. Trade is in the clear interests of our people; and it is the job of governments to ensure that trade opportunities flow. So that is why I am visiting Qatar today.

For the UK, the Gulf is a major trading partner. In 2015, UK exports stood at over £20bn – that";s more than China and twice as much as exports from India. We see increasing business with the Gulf as an essential part of our international strategy which includes future new Free Trade Agreements, and Qatar will continue be an important partner for the UK. In 2015 UK exports to Qatar totalled £2.6bn, up 16% on 2014 while Qatar";s exports to the UK doubled to £2.7 bn. Some of the UK";s largest companies like Shell have been major investors in the region for a number of years; and I am delighted that Shell is the largest foreign investor in Qatar, with its world-leading gas to liquids plant. Many British companies are also very active in Qatar";s exciting infrastructure projects, in particular architectural firms, design, project management and engineering consultancy. The UK is also very well-represented in the financial and professional services industry with many leading British legal firms, banks and accountancy and advisory firms well-established here. And of course, UK automotive, luxury goods, retail and brands are all also present in Qatar";s shops and malls. But I want to see more. I want the best of British business and industry to be here in Qatar. I want our companies, our experts, our officials to play a leading role in supporting delivery of Qatar";s 2030 National Vision and in delivery of a successful World Cup here in Qatar 2022.

I want the government to be quicker at identifying big-ticket exporting opportunities in high growth markets; we have already prioritised 31 across the Gulf, including Qatar. This not only covers traditional industries such as oil and gas, defence and infrastructure, but emerging areas like life sciences and creative. And UK Export Finance – the government";s export credit agency – will continue to be on hand to ensure that no export to Qatar fails because of lack of finance or insurance, and will continue its great work in reducing barriers to trade.

Selling our goods and services to the region is of course only half the story. The UK is one of the most open economies for inward investment in the world and according to the World Bank the UK was the highest ranked major economy for ease of doing business. In 2015-16, the UK attracted a record number of inward investment projects, generating the second highest number of jobs ever. I was delighted that just last month GSK announced that it would expand its UK manufacturing sites to the tune of £275m. The Gulf States are a critical investment partner for us. Institutional investors from Gulf Co-Operation Council countries in particular have led the way. Qatar holds over £30bn worth of investment (including Canary Wharf, the Shard, the HSBC building and Harrods) in the UK alone. Qatari Diar are leading prominent regeneration projects such as the Olympic Park Village and Chelsea Barracks. All of this is helping to power the continued growth of the UK economy while delivering healthy investment returns for Qatar in a stable political, legal and economic environment they know.

I know that the UK";s recent decision to leave the EU has led some to question the economic prospects for the UK and its potential for trade. I want to bring a clear message to the Gulf, ‘the UK is open for business and we now have a huge opportunity to position ourselves at the centre of an increasingly interconnected world.

The UK has always been a confident and outward-looking nation: always refusing to be constrained by our size or island status. The national pride felt after coming second in the Rio Olympics reinforces what can be achieved by a determined population of less than 65m. I often think that the era of modern globalisation could have been written with the UK in mind. We have a system of law, including commercial law that is admired across the whole world and underpins confidence in investments in Britain. We have a skilled workforce, low levels of industrial disruption, low regulation, low taxation, we speak English and we are in the right time zone for global trading. These strong economic fundamentals have meant the British economy has proven resilient both before and after the referendum – despite the doomsday predictions. I know that many here in the Gulf have already made clear their strong faith in the UK economy and their continued interest in increasing their investments in the UK.

And for any businesses and investors here who are concerned by the level of change afoot, I would like to reassure you that for the moment, nothing changes. We are still members of the EU. And while members of the Union, the UK will continue to – as it always has done – push for further economic liberalisation across the EU. Some may say that a vote to leave the EU was akin to the UK turning its back to free trade and towards isolationism. That couldn";t be further from the truth. We want the EU to succeed – we just don";t want to be governed by it. As we leave, we intend to do so in a way that ensures minimal disruption for our European partners with whom we will continue to have strong economic, political and security bonds. We are not leaving Europe - in the era of globalisation we need to be open to trading with any market which is functionally similar to our own even if it is not geographically proximate – we are re-joining the rest of the world.

For the UK, Qatar is an important part of that journey; and I am delighted that the government and business here in Qatar share that vision. The major UK/Qatar trade and investment conference which we will hold in the UK early in 2017 will be an important moment in delivering this shared ambition. I am sure that it will be a huge success, strengthen significantly our economic and trade links, and demonstrate to the world that -as the people of Qatar know - the UK is open for business like never before.