Qatar-UK Business & Investment Forum to Enhance Bilateral Economic Relations

Doha, March 22 (QNA) - HE the British Ambassador to the State of Qatar Ajay Sharma on Wednesday said the 'Qatar-UK Business and Investment Forum' due to be held in Britain on 27-28 March will not only enhance relations between the two countries but also introduce available investment opportunities that can be used to achieve joint economic benefit. In a press conference held at the British Embassy in Doha on Wednesday, the British Ambassador said the UK and Qatar share a strong and growing trade and investment relationship. In 2015 total UK exports to Qatar totaled GBP 2,613m, with Qatar exports to UK at GBP 2.721m. Qatar has invested approximately GBP 35bn in the UK, and there are over 600 UK companies operating in Qatar. The Qatari and UK Government will host a major Qatar-UK Business & Investment Forum, over three days, taking place in London (27th March) and Birmingham (28th & 29th March 2017). The three day event will provide a significant platform to further the important trade and investment relationship between the UK and Qatar, he said. Both the UK and Qatar stand on the verge of exciting futures. The UK is paving the way to become a beacon of open trade around the world and Qatar is implementing its ambitious 2030 National Vision, which serves as a roadmap for the country's future. The close bilateral relationship we share is an excellent basis from which to strengthen our ties and work towards achieving our shared goals for the future, he added. The London conference will showcase Qatar to a UK audience, focusing on the opportunities that Qatar offers, the strength of the business relationship and other links. The Birmingham conference will showcase the UK's expertise to support the Qatari 2030 National Vision and promote our world leading sectors whilst promoting the investment opportunities around the UK, in particular, outside of London. On 29th March, delegates will be hosted by Birmingham City Council who will highlight specific investment opportunities in Birmingham, he added. The UK Ambassador to Qatar Ajay Sharma touched on the key objectives of the Qatar-UK Business & Investment Forum which include supporting Qatar in delivering a successful FIFA 2022 World Cup and to be its partner of choice in realizing its 2030 National Vision. It also aims to provide an exclusive opportunity for business leaders and senior UK and Qatari Ministers to network and promote current investment and trade opportunities in the UK and in Qatar. The forum also hopes to increase bilateral trade between Qatar and the UK; which currently stands at over GBP 5 billion per year. It also aims to showcase the best of British industry, best practice and areas of opportunity across key sectors of mutual interest such as healthcare, cyber security, finance and global sports highlighting areas of expertise that will support Qatar's goals. The forum is expected to attract 700 senior executives, decision makers, opinion formers and senior government representatives from Qatar and the UK. The program will include plenary key note speeches, panel sessions, live case-studies, ministerial roundtables and a main showcase together with contributions from senior cabinet ministers, key global business leaders and influential sector/market specialists, the ambassador explained. A post event program will also be provided by the Birmingham City Council to showcase the UK's unique mix of cultural heritage, excellence at sport and creative sectors, and trade and investment opportunities in the Birmingham area. Event activity will be themed as Invest in GREAT Britain & Northern Ireland, aligning with HMGs new GREAT campaign which promotes the UK offer to a global audience, HE the Ambassador added. In response to reporters' inquiries, Sharma stated that the UK government is taking positive steps to present investment opportunities in the country. He added that blogs and periodical publications are issued to show possible investments explaining that they are classified to each city separately, making it easy to quickly find the needed investment opportunities. The Qatar-UK Business & Investment Forum comes at a crucial time considering Brexit, which is taking place on the March 29th, offering a healthy environment for Qataris to invest in the large projects and opportunities which in turn will support both economies, considering Qatar and UK's strong relations and trade value that exceed billions, Sharma added. The forum's main goal is not to create immediate partnerships however it aims to present multi-billion-pound investment opportunities in the UK, and to present the available opportunities of mutual benefit in both countries. The next step would include looking into creating partnerships which may result in signing agreements during the forum, he pointed out. HE Sharma said that the Forum will provide a platform for the Qatari and British sides to present investment opportunities and then move forward an executive level by submitting them to the governments to take necessary action. The Forum will pave the way for talks, which will lead to signing a set of agreements to implement large investment projects carried out by the Qatari side in Britain and the British side in Qatar, he said. In this context, the British diplomat stressed his country's keenness in reaching trade agreements with the State of Qatar in particular and the GCC countries in general, especially following the Brexit. He highlighted the future prospects of work with Qatari citizens and means of facilitating their investments in the United Kingdom, he said, referring to the "The Investment Climate in Britain" Session which will brief investors taking part in the Forum on UK's legislation that supports direct investment, mainly low tax rates and others. He pointed out that there are measures which serve to strengthen the common relations between Qatar and Britain, especially that the Qatari citizen can easily enter the UK and take advantage of investment projects there. On the importance of the city of Birmingham, he pointed out to the various large investment opportunities as the city, which witnessed the industrial revolution, is abundant with investment opportunities. Britain is investing heavily in the infrastructure sector in order to support connecting UK cities to each other, he said, adding that by completing the national high speed rail network, Birmingham to London journeys will be almost halved from 1 hour 30 minutes to about 30 minutes, which will change the course of business in the Kingdom and help to benefit foreign investors. Britain is open to different cultures, which in turn supports the promotion of business environment and competitiveness, and makes it a special place to do business, the British envoy went on to say. On the challenges relating to the global economy's current situation, the Brexit and the low oil prices facing the GCC countries, HE Sharma expressed his belief that the Forum will serve as a mechanism to achieve joint means and opportunities which would serve both countries' economic diversification. Concluding, he expressed hope that the forum will introduce opportunities that can help overcome these challenges towards achieving wider investment prospects. (QNA)