The Prime Minister welcomed the Amir of Qatar, Sheikh Tamim bin
Hamad al Thani, to Downing Street today for discussions on
driving economic growth and addressing global challenges
together.
The UK and Qatar signed a new Strategic Investment Partnership
(SIP) which will see Qatar invest up to £10 billion over the next
five years in key sectors of the UK economy, including fintech,
zero emissions vehicles, life sciences and cyber security. The
investment is expected to create high-quality jobs in new
industries across the country.
The Prime Minister and the Amir also had a wide-ranging
discussion on geopolitical issues. They were united in their
condemnation of Russia’s aggression in Ukraine and discussed
issues of regional security, including relations with Iran.
Prime Minister said:
“Today’s announcement of up to £10bn in new investment from our
Qatari friends is another vote of confidence in the UK’s
brilliant businesses and cutting-edge industry. The new UK-Qatar
Strategic Investment Partnership will create quality job
opportunities across the country in key sectors, delivering on
our vision of economic growth through trade and investment.
“Qatar is a valued partner for the UK, supported by Sheikh Tamim
bin Hamad’s leadership. We had a rich discussion on the
issues that matter to both of our countries, including boosting
the economy, ensuring regional stability and improving energy
security following Russia’s appalling invasion of Ukraine.”
UK-Qatar trade was worth £4.8 billion last year and Qatari
investment in the UK economy is already estimated to be worth
over £40 billion, supporting jobs and growth across the
country.
Minister for Investment Lord Grimstone said:
“It is excellent news that Qatar is targeting up to £10 billion
investment into the UK through our new Strategic Investment
Partnership.
“Not only will it boost local economies and support jobs, but it
supports our green economy and decarbonisation – crucial in
meeting our Net Zero targets. It also strengthens our
relationship with Qatar ahead of our UK-Gulf Cooperation Council
trade negotiations.”
Business Secretary also signed an MoU on energy
cooperation with Qatar’s Minister of State for Energy Affairs at
Downing Street. Qatar is a major energy supplier for the UK,
providing 40% of our liquefied natural gas – the new MoU commits
us to work together to boost innovation and collaboration,
supporting the security of global energy supplies.
UK Secretary of State for Business and Energy, , said:
“I am delighted to further the UK’s energy cooperation with the
State of Qatar as we work to stabilise international energy
markets and boost energy security in the context of Russia’s
illegal invasion of Ukraine.
“Qatar is already a valued trading partner, recently investing in
the future of British low-carbon nuclear technology through the
Rolls Royce consortium developing small modular reactors. Today’s
meeting will deepen our relationship even further, reinforcing
the UK’s energy security and delivering cleaner and affordable
energy in the years ahead.”
The Prime Minister and Amir discussed the upcoming 2022 Qatar
World Cup this winter, and the UK committed significant new
military and counter-terrorism support for the safe running of
the event. A joint UK-Qatar Typhoon Squadron will provide
additional air security, and the Ministry of Defence with
advanced venue search training and operational planning support.
The Prime Minister also confirmed that the UK will ensure Qatari
nationals can access the UK’s new Electronic Travel Authorisation
system from early 2023, facilitating easier travel for business
visitors and tourists.
Notes to editors:
- The Strategic Investment Partnership was signed by , Investment
Minister and H.E. Sheikh Mohammed bin Abdulrahman Al-Thani,
Deputy Prime Minister and Minister of Foreign Affairs
- The Energy MoU and Strategic Energy Dialogue were signed by
the UK Secretary of State for Business, Energy and Industrial
strategy and Qatar’s Minister of
State for Energy Affairs Saad Sherida Al-Kaabi.
