The second GCC-British Economic Forum organised by the Arab British Chambers of Commerce in London, was dominated by discussion about post-Brexit relations.
Ahmed bin Mohammed al-Sayed, founder and CEO Sharq Capital Investment LLC and former CEO Qatar Investment Authority, participated in a special panel on the impacts of Brexit. He observed that it was natural for all investors anywhere to have clarity before making investment decisions.
“We don’t know the consequences of the deal between the EU and the UK and how this will affect the investment environment. Investors will be more hesitant until we know the outcomes,” he said.
He added: “UK people are smart and will come up with a plan. When the plan becomes clearer, then investment will follow. He added that some fundamental issue need to be settled.
He said that while the UK was moving into ‘unchartered territory’ there were opportunities to enhance trade.
Looking at the wider EU context, it was noted that most GCC–UK trade is bilateral and ended in the UK and that there was now room for more flexibility in bilateral deals with the GCC.
Yousef Ali al-Khater, Qatar’s ambassador to the UK, who attended with a Qatari presence that included Sheikh Khalifa bin Jassim bin Mohamed al-Thani, chairman, Qatar Chamber of Commerce and Industry, commented to Gulf Times: “I think this is an opportunity now after the Brexit to build relationships, especially bearing in mind that the UK is an important partner for the Gulf and for Qatar in particular. I believe that many opportunities will be discussed at this forum and then discovered.
“Since we have this historical relationship with the UK, and bearing in mind the investments between the Gulf and the UK, that will make it a certainty that we will have an even stronger relationship in the future.”
Dr Khalid K. al-Hajri, Chairman and Chief Executive Officer QSTec (Qatar Solar Technologies) commented: “I think there are many challenges – and also a lot of opportunities. There are both threats and opportunities.
Asked if Qatar remained as enthusiastic about the UK now that it is out of Europe he replied: “I don’t think there is any reason for Qatar not to do so but I will leave that up to others to assess their position.”
The participants at the 2nd GCC-British Economic Forum in London. The forum was dominated by discussion about post-Brexit relations.
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