QNA – DOHA
7 January 2017

Rt Hon Chancellor of the Exchequer of the United Kingdom Philip Hammond highlighted the importance of Qatar Business and Investment Forum, which will be held in London and Birmingham next March.
Speaking to Qatar News Agency (QNA), Hammond underlined that the upcoming forum, which has been planned for nearly nine months, would contribute to further promoting the economic relations between the United Kingdom and the State of Qatar, and explore more investments opportunities in both countries.

Meanwhile, Hammond highlighted the distinct and solid relations between the State of Qatar and the United Kingdom in all sectors, including economy, security and defense.
He pointed out to HH the Emir Sheikh Tamim bin Hamad Al-Thani's meeting with the UK Prime Minister Theresa May on the sidelines of the 37th GCC Summit in the Kingdom of Bahrain last December which he said contributed to strengthening the relations between the two countries.

He added that his visit to Doha, in the course of his current tour of a number of GCC countries, aimed at discussing future cooperation opportunities between Qatar and the UK, especially after the Brexit.

He said that his GCC tour also aims to follow up the developing relations between the two sides, and to affirm to the UK partners in the region that the Brexit would not negatively affect his country, or its cooperation and partnerships with the GCC countries in the fields of security, defense, trade and investment.

Highlighting the Qatari investments in the United Kingdom, the Chancellor of Exchequer said there are investments for Qatar Investment Authority and for the Qatari private sector. Meanwhile, there are a variety of British investments in Qatar in different fields, the most important of which are the investments of "Shell" which exceed 20 billion dollars, in addition to nearly 600 British companies operating in Qatar. 

He noted that trade exchange between the two countries exceeds 5 billion pounds a year, which is balanced in terms of exports and imports, adding that Qatar's ongoing plans to diversify the economy would allow more good opportunities to increase the volume of trade, especially with regard to the services sector such as health care, education, professional services, technology and financial services. 

He added that Qatari businessmen have good opportunities to expand their investments in the United Kingdom, expressing hope that the upcoming Qatar Business and Investment Forum would contribute to further promoting the economic relations between the two sides. 

On the mutual cooperation in the financial services, he said that many Qatari banks are currently operating in the British market, allowing them to benefit of the experience of "one of the world's largest financial systems", and well as the financial sector experts in London which is one of the largest financial capitals in the world.