Qatar, UK bilateral commerce reached QR9bn in Could

H E Ranil Jayawardena, Minister of State for Worldwide Commerce of the UK and QBA Board Member Sheikh Nawaf bin Nasser Al Thani with the UK delegation and different QBA members, throughout the assembly.

Doha: The Qatari Businessmen Affiliation (QBA) participated in a gathering and enterprise lunch in honor of H E Ranil Jayawardena, Minister of State for Worldwide Commerce of the UK and his accompanying delegation, within the presence of H E John Wilkes, the British Ambassador to Doha.

From QBA, the assembly was attended by Board Member Sheikh Nawaf bin Nasser Al Thani and QBA members Sheikh Faisal bin Fahd Al Thani, Khalid Al Mannai, Omar Al Fardan, Nabil Abu Issa, Maqbool Habib Khalfan, Abdullah Al Kubaisi, Ihsan Al Khaimi and Muhammad Althaf, in addition to Sheikh Mansour bin Jassim Al Thani and Sarah Abdullah, QBA Deputy GM.

At the start of the assembly, Sheikh Nawaf welcomed the friends, praising the bilateral relations between Qatar and the UK, which lengthen to historic historic roots. He additionally spoke concerning the financial relations and the significance of its steady improvement.

Minister Jayawardena stated: “The UK and Qatar have long-standing commerce relations and the elevated cooperation between the UK and Qatari firms has opened nice alternatives for our two international locations as UK exports to Qatar have elevated by 40 % final yr. Throughout my conferences with Qatari officers, we made it clear that we’re dedicated to offering extra prosperity to our two international locations by means of world free commerce and dealing carefully with key organisations such because the Qatari Businessmen Affiliation”.

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QBA Members additionally mentioned the scenario of United Kingdom, particularly after Brexit, the place Jayawardena expressed his optimism for a greater future for Britain after this step, saying: “We, in the UK are speeding time to consolidate our relationships with necessary international locations equivalent to Qatar and all Gulf and African international locations and different financial companions to reinforce nation’s financial and business prospects whereas I need to convey a transparent message to our companions in Qatar, that the UK is trying ahead to working with businessmen to draw extra funding, and we now have an awesome alternative to strengthen our place in an more and more interconnected world”.

For his half, Ambassador Wilkes added that the UK seeks to strengthen financial relations between the 2 international locations, particularly after cancelling the visa for Qatari traders, and that work is at the moment underway to launch a digital database, which goals to supply all financial and business info that will assist traders in numerous sectors.

It’s price noting that the UK is a serious buying and selling companion for the State of Qatar. In 2019, commerce trade between the 2 international locations amounted to QR14bn, and on account of the pandemic, it declined to QR11bn in 2020, rising by 40 % in 2021 and amounting to QR16.6bn riyals. The figures of the Planning and Statistics Authority point out that the yr 2022 might be distinctive within the commerce relations between each international locations, as the quantity of commerce trade throughout the first 5 months of the yr amounted to about QR9bn, through which Qatar gained an enormous share by means of the export of QR7.4bn riyals.

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Along with the presence of main British firms in Qatar equivalent to Shell, which has been one of many main traders within the area for a number of years, in addition to many British firms energetic in infrastructure initiatives in Qatar, particularly structure, design, undertaking administration and engineering consultancy companies.