- The Prime Minister hosted Qatar’s Amir today to grow our historic partnership and agree new cooperation on trade, energy and defence.
- The Strategic Investment Partnership will see Qatar invest up to £10 billion in key industries across the UK, creating jobs and growth
- UK and Qatar agree to work together to improve energy supply chain stability and support security at World Cup 2022
The Prime Minister welcomed the Prime Minister of Qatar, Sheikh Tamim bin Hamad al Thani, to Downing Street today [Tuesday] discuss driving economic growth and tackle global challenges together.
The UK and Qatar have signed a new Strategic Investment Partnership (SIP) in which Qatar will invest up to £10 billion over the next five years in key sectors of the UK economy, including fintech, zero-emission convenience, life science and cybersecurity. This investment is expected to create high-quality jobs in new industries across the country.
Prime Minister and Prime Minister Amir also had an extensive discussion on geopolitical issues. They unanimously condemned Russia’s aggression in Ukraine and discussed regional security issues, including relations with Iran.
Prime Minister Boris Johnson said:
Today’s announcement of a new investment of up to £10 billion from our Qatari friends is another vote of confidence for the UK’s bright businesses and cutting-edge industry. The new UK-Qatar Strategic Investment Partnership will create quality job opportunities across the country in key sectors, embodying our vision of economic growth through trade and investment.
Qatar is an important partner of the UK, supported by the leadership of Sheikh Tamim bin Hamad. We had a rich discussion on issues important to both countries, including boosting our economies, ensuring regional stability, and improving energy security in the wake of China’s terrifying invasion. Russia into Ukraine.
Anglo-Qatar trade was worth £4.8 billion last year and Qatar’s investment in the UK economy is estimated to be worth more than £40 billion, supporting jobs and growth across the country.
Investment Minister Lord Grimstone said:
The great news is that Qatar is targeting investments of up to £10 billion in the UK through our new Strategic Investment Partnership.
Not only does it boost local economies and support jobs, but it also supports our green and decarbonized economy – crucial to achieving our Net Zero goals. It also strengthens our relationship with Qatar ahead of the Gulf Cooperation Council – UK trade negotiations.
Business Minister Kwasi Kwarteng also signed a Memorandum of Understanding on energy cooperation with the Qatari Foreign Minister on energy matters at Downing Street. Qatar is a major energy supplier to the UK, supplying 40% of our liquefied natural gas – New Memorandum of Understanding commits us to working together to drive innovation and partnership , supporting the security of the global energy supply.
UK Foreign Secretary for Business and Energy, Kwasi Kwarteng, said:
I am pleased to further promote UK energy cooperation with the State of Qatar as we work to stabilize international energy markets and strengthen energy security amid Russia’s illegal invasion of Ukraine.
Qatar has been a valuable trading partner, having recently invested in the future of UK low-carbon nuclear technology through the Rolls Royce consortium developing small modular reactors. Today’s meeting will further deepen our relationship, strengthen the UK’s energy security and deliver cleaner and affordable energy for years to come.
The Prime Minister and Amir discussed the upcoming Qatar 2022 FIFA World Cup this winter, and the UK has committed significant military and counter-terrorism support to keep the event going safely. A joint Anglo-Qatar Storm Squadron will provide additional security in the air and the Department of Defense with advanced training in location searching and combat planning support.
The Prime Minister also confirmed that the UK will ensure Qatari nationals can access the UK’s new Electronic Travel Authorization system from early 2023, making travel easier for business travellers. and tourists.