By Sachin Kumar
DOHA: Greater cooperation between the businesses of the United Kingdom (UK)and Qatar could unlock huge opportunities for both countries, said Liam Fox, the UK Secretary of State for International Trade and President of the Board of Trade.
Fox was speaking at a private business lunch orgnaised by the Qatari Businessmen Association (QBA) in honour of Fox and his accompanying delegation in the presence of Ajay Sharma, UK Ambassador to Doha.
“The UK and Qatar have a longstanding trading relationship. UK exports to Qatar increased by 16 percent last year and greater cooperation between UK and Qatari businesses could unlock huge opportunities for both nations. As I and Emir H H Sheikh Tamim bin Hamad Al Thani have made clear, we are committed to delivering greater prosperity for both our countries through global free trade, working closely with key organisations like the Qatari Businessmen Association,” said Fox.
The event was attended by Sheikh Faisal bin Qassim Al Thani, Chairman of the QBA, and its board members, Sheikh Nawaf bin Nasser Al Thani and Sherida Al Kaabi as well as QBA members Sheikh Abdullah bin Ahmed Al Thani, Ibrahim Mohamed Al Jaidah, Nabil Abu Issa and QBA Deputy General Manager Sarah Abdullah.
QBA Chairman welcomed the distinguished guests, praising the bilateral relations between Qatar and the UK which go far back in history. He also spoke about the need for continuous follow-up on the bilateral trade missions, visits and the vast potential for enhancing the cooperation between private sectors of both sides.
QBA Members also discussed the impact of UK exit from the EU on the trade relations between the UK and its partners. Fox confirmed on the stability of the economic situation and that UK wants the EU to succeed and while leaving they intend to do so in a way that ensures minimal disruption for their partners with whom they will continue to have strong economic, political and security bonds.
Fox said the primary goal is to become a more open country, get rid of the restrictions that have hampered cooperation with all world markets, especially in the era of globalisation. Ajay Sharma added that the UK is seeking to strengthen economic ties between the two countries and is currently working on the launch of a digital platform that provides all economic and commercial information that will assist investors in various sectors
UK is considered a strategic Trade partner for the Gulf countries. In 2015, UK exports stood at over £20bn – that’s more than China and twice as much as exports from India. Whereas in the same year; UK exports to Qatar totaled £2.6bn, up 16 percent on 2014 while Qatar’s exports to the UK doubled to £2.7bn.
The Peninsula
