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FINANCIAL NEWS
Qatari investments in UK hits USD48.35b
30 Oct 2014
(MENAFN) According to the Qatari Ministry of Economy and Commerce, the United Kingdom is fourth on the list for biggest imports into the State of Qatar, with Qatari investments in the UK reaching more than USD48.35 billion, QNA reported.
The Ministry said that during last year, the trade volume between the two countries reached USD5.2 billion, while imports from the UK alone were nearly USD2 billion. Meanwhile, Qatari exports to the UK also showed signs of growth going from USD1 billion in 2008 to USD4 billion in 2012
In terms of sectors, the energy sector represented 98 percent of Qatar’s exports to the United Kingdom, led by LNG, with Qatar being capable of supplying the United Kingdom with 20 percent of its LNG and electricity needs, which led to the renewal of the USD7 billion contract between the two countries so that Qatar would import LNG until 2018.
The Ministry also said that the two countries have a strong bilateral relationship as well as the United Kingdom having an important contribution to the Qatari economy, with 79 British companies operating in Qatar with 100 percent of its capital being British as well as 457 more that have joint British and Qatari capital.
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