(MENAFN- The Peninsula) The Peninsula
Doha, Qatar: The Qatari Businessmen Association (QBA) organised a business lunch, yesterday in honor of H E Oliver Dowden, UK Deputy Prime Minister and his accompanying delegation, who is currently visiting Qatar. During the meeting, trade and investment relations between Qatar and Britain were discussed in the presence of Ambassador H E Neerav Patel, the United Kingdom's ambassador to Qatar.
The meeting also discussed the latest developments in the free trade agreement negotiations between the GCC countries and the United Kingdom, which the two sides expressed their full belief in its importance, as it will contribute significantly to economic growth and will enhance trade traffic in goods and services, new sectors as well as advanced technologies in a way that serves the common interests of both sides.
From QBA, the meeting was attended by Sheikh Faisal bin Qassim Al Thani, QBA Chairman and from QBA board: Sheikh Hamad bin Faisal Al Thani, Sheikh Nawaf bin Nasser Al Thani, and Sherida Al Kaabi. From QBA members: Salah Al Jaidah and Khaled Al Mannai, Nabil Abu Issa, Yousef Al Mahmoud, and Muhammad Altaf, as well as Sheikh Mansour bin Jassim bin Thani Al Thani, attended the meeting along with Sarah Abdullah, Deputy General Manager.
In the beginning of the meeting, UK Deputy Prime Minister Oliver Dowden spoke about the Qatari investments in Britain, such as the London Stock Exchange, Chelsea Barracks, Heathrow Airport and Harrods, considering these investments an important addition to the British economy and a successful model. He also stated that the volume of trade between Britain and Qatar jumped 100% last year, noting that Britain is working to conclude free trade agreements with the Gulf countries.
Regarding the British economy, Dowden said that he is getting positive feedback regarding the outlook for the British economy. Since Rishi Sunak was appointed Prime Minister last year, the feeling of economic stability has grown in the United Kingdom, because investors are looking forward to a stable investment environment.
He also stressed out that the Gulf countries are important trading partners for Britain, as these countries are considered the fourth largest trading partner after the European Union, the United States, and China.
For his part, Sheikh Faisal bin Qassim Al Thani, QBA Chairman expressed his confidence for a better future for bilateral relations between the two countries, confirming that the Qatari Businessmen Association is looking forward to cooperating with the UK to develop more investments.
It is worth noting that the United Kingdom is a major trading partner for Qatar, as the Planning and Statistics Authority's figures indicate that the year 2022 was exceptional in trade relations between the two countries, as the volume of trade exchange reached QR36bn, in which Qatar gained the lion's share by exporting its value. QR31bn which is about three times higher than in 2021, when it reached QR11bn , 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.
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