Qatar-UK Economic Committee Convenes Fourth Meeting in Doha
The fourth meeting of the Qatar-UK Joint Economic and Trade Committee took place in Doha on Sunday. Senior officials and representatives from both the public and private sectors attended the event, reflecting the strong commitment to enhancing economic ties.
Key Meeting Highlights
The meeting was co-chaired by HE Dr. Ahmed bin Mohammed Al Sayed, Qatar’s Minister of State for Foreign Trade Affairs, and HE Sir Chris Bryant, the UK Minister of State for Trade Policy. Opening remarks emphasized the significance of these discussions in light of global economic changes.
Investment and Trade Figures
- Qatari investments in the UK have surpassed GBP 40 billion.
- Trade exchange between Qatar and the UK reached GBP 1.7 billion in 2024.
- UK foreign direct investment in Qatar from 2017 to 2024 exceeded GBP 6 billion.
- Over 600 British companies are currently operating in Qatar.
Strengthening Economic Relations
The meeting underscored the commitment of both countries to bolster their economic relationship. Notably, Qatar expressed an interest in reaching a free trade agreement with the UK and the Gulf Cooperation Council (GCC). Such an agreement aims to enhance market access and cooperation in areas like digital trade and customs.
Focus on Innovation and Sustainability
Qatar is keen to deepen collaboration with the UK in finance, digitalization, and innovation. This includes enhancing synergy between Qatar’s single business window and the UK’s trade window. Furthermore, discussions included cooperation in green growth and climate technology, with Qatar investing GBP 1 billion in this sector within the UK.
Future Directions
The committee reviewed the progress made on recommendations from their previous meeting and current projects. Both parties committed to advancing trade and investment cooperation. This collaboration aims to boost trade volumes and facilitate the movement of goods, services, and capital.
Conclusion of the Meeting
At the close of the meeting, Dr. Ahmed bin Mohammed Al Sayed and Sir Chris Bryant signed the minutes, marking a significant step forward in the Qatar-UK economic agenda.
