DOHA: With investment worth an estimated £30bn in the UK, Qatar is looking to further expand its stakes in Britain. To boost the bilateral trade and to help the Qatari and British companies strengthen their investments in both countries, Lord Mayor of the City of London Alderman Alan Yarrow opened the premises of the new British Chamber of Commerce in Qatar.
Currently, the major Qatari investments in UK include stakes in Sainsbury’s, BAA, London Stock Exchange, Barclays, the US Embassy building in Grosvenor Square and the Sharad. In 2011, Qatar invested in the Olympic Park and the Shell Centre in London. Qatari Diar, the direct property investment arm of Qatar Investment Authority (QIA), has opened a London office in 2010, a British embassy data noted yesterday.
Launching an office for the British Chamber of Commerce in Doha will support and develop the small and medium enterprises (SMEs) amidst strong trade relations between the two countries. Britain’s experience in this field can benefit the SMEs and entrepreneurs in Qatar, Lord Mayor Alderman said.
It is the best time to start new business in Qatar in light of the economic growth which the country was witnessing, and the latest numbers which showed an increase in the trade exchange between the two countries of 40 percent than last year, he said.
Ambassador of the United Kingdom to Qatar Nicholas Hopton and a host of Qatari businessmen attended the inauguration ceremony at the British Chamber of Commerce office .
Addressing the event, the Managing Director at the British Chamber of Commerce Office in Doha, Peter Cook said that the establishment of the British Chamber of Commerce Qatar comes at a time when the Qatari investments are increasing in the UK.
Thanks to the big support provided by the two governments and the Qatar Chamber, the British Chamber of Commerce in Doha will become one of the leading authorities to support business in the country, and to offer a wide range of business services to facilitate and accelerate the work of the small and medium-sized companies towards success in the world of business in Qatar.
In addition to its office in Qatar, the British Chamber of Commerce has 70 branches around the world. Cook underlined that the new office will focus on bolstering business and projects between the two countries, especially the small and medium enterprises, as well as providing support for the already established business between Qatar and Britain.
