DOHA BANK HAILS QATAR, UK TIES

Doha Bank CEO Dr R Seethara­man has drawn par­al­lels be­tween the eco­nomic block­ade on Qatar and the Brexit faced by Bri­tain, adding that both coun­tries have flour­ish­ing bi­lat­eral trade and busi­ness re­la­tions.

Qatar Today - - BUSINESS | BANK NOTES -

“De­spite the Brexit devel­op­ment im­pact­ing the UK and the eco­nomic block­ade im­pact­ing Qatar, the UK has al­ways re­mained an im­por­tant trade and in­vest­ment des­ti­na­tion for Qatar and will re­main so, and hence Qatar and the UK can con­tinue to ex­plore the grow­ing syn­er­gis­tic op­por­tu­ni­ties be­tween them,” said Seethara­man.

“Qatar-UK trade is worth more than £5 bil­lion. Food im­ports from the UK have come to Qatar af­ter the re­cent eco­nomic block­ade. Nearly a third of UK gas im­ports come from Qatar,” he added.

He fur­ther said that Qatar has a re­serve of $340 bil­lion in­clud­ing as­sets of its Sov­er­eign Wealth Fund, QCB re­serves in cash, and gold. “To­gether, Qatar's re­serves are more than 200% of its GDP.”

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