Doha, December 03 (QNA) - The United Kingdom has positioned itself as a fertile ground for Qatari investments that have poured into the UK over years, in terms of real estate assets and the London Stock Exchange, making economic field the foremost priorities in bilateral relationship, as well as a fundamental and ironclad pillar in the long-standing path of bilateral cooperation and strategic partnership.

The language of figures has been emphasizing this preeminent standing, as long as diverse investments enhance the Qatar-UK interests. Based on statistics revealed to Qatar News Agency (QNA) earlier this year, UK Minister of State for Trade Policy in the Department for Business and Trade, Rt Hon Greg Hands, affirmed that the State of Qatars investment portfolio in the UK valued at GBP 40 billion, thereby creating a massive diversity of sectors, primarily in energy, banking, financial services, real estate investment, and aviation.

The value is, likewise, projected to increase in the coming years, by virtue of the growing presence of Qatars public and private sectors in the UK investment ecosystem.

Accordingly, Second Vice-Chairman of Qatar Chamber (QC), Rashid bin Hamad Al Athba, emphasized the strength of Qatar-UK relationship, which is based on rock-solid foundations, stating that it has been evolving at multiple levels, driven by the shared desire to broaden the horizons of bilateral cooperation.

With the economic and trade ties constituting the foundation of this relationship, Al Athba stated that trade between the two countries is steadily growing and reached over QR10 billion in 2023.

He pointed out that the two countries share joint collaborative relationship, as well as economic alliances and projects, positioning the State of Qatar as one of the most consequential investors in the UK. And the latter draws a sheer volume of diverse Qatari investments. Reciprocally, the Qatari gas industry secures a vital percentage of the UK consumption, whether at individual, or corporate levels.

In terms of relations between private sectors in the two countries, Al Athba affirmed that the Qatari businessmen view the UK as one of the extraordinary destinations that attract the Qatari investments, indicating that there are vast sectors that pave the way for them to establish joint ventures there, such as real estate development, hospitality, healthcare, technology, et cetera.

He underlined that QC welcomes efforts to foster Qatar-UK investments, alliances, and projects aimed at increasing the public sector's engagement in the trade exchange volume between the two nations, stating that it stands ready to help all UK investors who desire to tap into the Qatari market so as to capitalize on the bold business atmosphere and spurring laws available, along with prolific investment opportunities across all sectors in Qatar, thanks to the world-class infrastructure in place.

More tellingly, international reports on the Qatari investment in the UK highlight that the State of Qatar possesses a sheer number of commercial real estate in the heart of London run by Canary Wharf Group, along with 90% of The Shard, the tallest building in Europe. Additionally, the Qatari investments in London involve the trade sector through the renowned Harrods store and Olympic Village, as well as uneven shares in several hotels, namely Savoy, InterContinental and Claridge's.

In addition, Qatar owns strategic stakes in a host of important UK firms and assets, such as a 20% stake in Heathrow Airport, 22% in Sainsbury's retail company, as well as being the largest shareholder with a 20% stake in the International Airlines Group (IAG), the parent company of British Airways, in addition to over 6% of Barclays Bank shares, a stake in Royal Dutch Shell energy firm, and 9% of the UK- Switzerland multinational commodity trading and mining company (Glencore).

The South Hook LNG Terminal represents the Qatar-UK mammoth strategic investment in liquefied natural gas, which was established in 2009, in partnership between QatarEnergy with a 70% stake, and Exxon Mobil Corporation with 30%. Accordingly, and Qatar provides nearly 20% of the UK's annual LNG needs.

(QNA)