Trade volume between Qatar and the UK stood at around $2.9bn in 2018, according to Qatar Chamber chairman Sheikh Khalifa bin Jassim al-Thani, who led a delegation to London recently.
Qatar Chamber participated in the joint Arab-British Economic Summit held at the Queen Elizabeth II Centre in London, organised jointly by the Union of Arab Chambers, the Arab-British Chamber of Commerce, and the League of Arab States.Last updated: July 06 2019 08:25 PM
The summit focused on the topics that are most relevant to British and Arab business where a wide range of emerging projects are being developed within the Arab world and the broad scope on the British side for deepening cooperation ties between the two sides.
Sheikh Khalifa lauded the distinguished relations between Qatar and Britain, describing them as historic and witnessing a growing development in various fields, especially trade and economy.
He noted that Qatari investments in Britain play an important role in the British economy. The strategic partnership in the energy sector through South Hook and South Hook Gas is an important factor in enhancing cooperation relations, he stressed.
Sheikh Khalifa said trade volume in 2018 saw a 3.6% growth compared to the $2.8bn figure recorded in 2017.
He said there are 675 Qatari-British companies operating in the Qatari market covering various economic sectors. There are also 50 British companies with 100% ownership in the Qatari market in various sectors, such as decoration, services, energy, consulting, technology, education, and health.
The total value of Qatari investments in Britain is around £40bn, making Britain Qatar’s largest single investment destination with large commercial properties in the heart of London through the Canary Wharf, “the tallest skyscraper in Europe,” Sheikh Khalifa noted.
The most prominent Qatari investments in London include Harrods, the world’s most famous department store; the Olympic Village; and various stakeholdings in a number of hotels, which play an important role in strengthening the British economy.