QBA’s European tour to promote investment concludes successfully

The high level trade delegation from Qatari Businessmen Association (QBA) visited London as the last leg of their Europe trip to promote Qatar as an attractive destination for international investment. QBA members have agreed with their European counterparts to establish a company in each of the three countries, with the aim to invest abroad and attract foreign investments in Qatar.
The QBA revealed that their visits to the European capitals, including Paris and Berlin, were successful and practical. The QBA also stressed that Doha will be a portal for Qatar’s neighboring countries and regional markets, and the QBA’s proposal to create a business community was highly welcomed by senior officials and businessmen in the countries forming their tour.
The meetings were led by Sheikh Faisal bin Qassim Al Thani, Chairman of the QBA; Hussein Al Fardan, First Deputy to the QBA Chairman; and Board Members Sheikh Hamad bin Faisal Al Thani, Sheikh Nawaf bin Nasser Al Thani, Sherida Al Kaabi, and from QBA Members Khalid Al Mannai, Saud Al Mana, Salah Al Jaidah, and also Sheikh Turki bin Faisal Al Thani, Sheikh Jabor bin Abdelrahman Al Thani and Sarah Abdullah, Deputy General Manager of the QBA. Mark Garnier, Under Secretary of State at the Department for International Trade said at the beginning of his meeting with the QBA delegates that trade exchange between the two countries exceeded £5bn in 2015, with the pace of growth increasing annually. He praised the successful business and investment forum held in London and Birmingham earlier this year, and pointed out that the partnership between the two countries is a strategic one, with more than 600 British companies operating in Qatar, in addition to Shell being the largest foreign investor in Doha.
Garnier expressed his admiration for the value of Qatari investments in Britain, amounting to £35bn, in addition to £5bn announced by the Prime Minister and Interior Minister, H E Sheikh Abdullah bin Nasser bin Khalifa Al Thani, during the business and investment forum held earlier in the year. Garnier also said that the UK is a strategic partner of Qatar’s successful staging of the 2022 World Cup, especially given the UK’s success in organising the 2012 London Olympics.
Garnier said that education is an important area of partnership between the two countries, where there are about 25,000 British professionals working in Qatar. In addition, the British Council is graduating about 8,000 students a year in Doha. In contrast, British schools are accepting about 4,000 Qatari students, at an increase of 20 percent annually. Garnier also referred to the agreement signed by the Qatari premier with his British counterpart in 2017 pledging to invest £5bn, and Britain’s total support for the Qatar 2030 Vision, making Doha an indispensable partner in the future. Garnier also noted that Britain has set up a £5bn investment fund to support companies investing abroad, with an amount allocated for companies wishing to invest in Qatar.
The British Ambassador to Qatar, Ajay Sharma, stated he will work with the Ministry of Foreign Trade to do everything in their power to support the increase of trade and investment between the UK and Qatar, which is for the benefit of both countries. Sharma said that the UK has always been open to business, and is running the largest international trade campaign in Doha as an important step to showcase the best services and products that the UK can offer to the world. H E Yousef bin Ali Al Khater Ambassador of Qatar to the UK, stressed that the mutual investments and the excellent bilateral relations between the two countries were once again confirmed by the visit of members of the QBA. “We are investing not only in the UK, but in the future of both our countries, and this is the greatest opportunity to make links stronger than ever,” Al Khater said.
Sheikh Faisal (QBA Chairman), said that the Qatari government’s role is extremely important and its contribution effective in that the members of the QBA are gathering with their British counterparts.
He pointed out that Britain seeks to boost the volume of exports as a contribution to GDP, with 11 percent of British companies exporting their products abroad. He also pointed out that the QBA meetings are an opportunity for UK companies to increase exports to Qatar, to open company branches in Doha, establish links between businesses and businessmen in both countries, and integrate and promote investment and trade opportunities between the two countries.
Sheikh Faisal praised Qatar’s achievements in the field of infrastructure projects and other economic sectors, stressing that Qatar’s strategic location between Asia and Europe represents an opportunity that can be efficiently exploited by both countries’ business and investment sectors. “We see clearly the importance of building a stronger Qatar, just as you want Britain to be stronger after Brexit. Therefore, British companies are going to invest in Doha with the establishment of free zones, the largest port in the region, and multiple facilities that will enhance our bilateral relations and further strengthen the strong relationship between both countries” he said.
On his part, Al Fardan added that the visits of the QBA to Paris, Berlin and London were very successful.  He added: “There is a great convergence of views towards welcoming the idea of opening joint investment companies in each countries. The practical steps will be considered soon.”
Al Fardan said that government is strongly supporting the business community in its efforts and is offer privileges. The investment environment is very conducive, industrial lands are available, and energy and electricity prices are suitable, so opportunities are great and plentiful to transform the free zones into placed of real industry.
Al Fardan also stressed that as with the case in France and Germany, a number of British companies will visit Doha individually and in groups. Issues of finance, land and other obstacles have been solved. Besides Qatar Development Bank, there is a British fund to help British companies invest in Qatar.
The QBA stressed that the visits to the major European capitals advanced beyond the stage of welcomes and formalities to direct and constructive work and openness through the presentation of projects, with political support from both sides, especially with regard to small and medium enterprises, which are mainstays of the advanced economies in each country.