Qatar’s our land of opportunity
FOLLOWING the EU announcement about the end of the transition period, we’ve got to stop waiting for the completion of discussions. The economic impact is too important to just sit around to see what happens. Now is the time that we need to be looking at other global opportunities and markets that we can work with to ensure British companies continue to thrive and drive forward. Qatar is one of our key allies and it is time for us to take advantage of the opportunities presented by our friends in Doha. As has been widely reported: ‘Qatar has invested £35 billion in the UK and had plans for another £5 billion. The UK is Qatar’s number one destination for foreign direct investment. British exports of goods to Qatar rose from £1.31 billion in 2013 to £2.13 billion in 2016.’ Qatar supplies 30 per cent of our gas imports, making it vital for Britain’s energy infrastructure. Qatar plans to invest up to £140 billion in its infrastructure over the next seven years, which is a significant opportunity for British business. In light of the uncertainty around Brexit negotiations and timings, let’s make the most of opportunities elsewhere in the world.
BARONESS VERMA, House of Lords, London SW1.