British Ambassador Jonathan Wilks Says Qatar and UK to Concentrate on Digital Commerce, Fintech Partnerships

Complete commerce quantity between Qatar and the UK reportedly reached £7 billion final yr, though there have been restrictions in place (partly attributable to COVID). The sturdy buying and selling exercise can also be being reported after varied challenges associated to the pandemic and ensuing socioeconomic uncertainty, in line with British ambassador Jonathan Wilks.

As reported by the Gulf Occasions, Wilks instructed the information outlet that the rise in commerce quantity between Qatar and the UK includes totally different sectors, like agricultural produce and meals merchandise. Wilks added that this can be a signal of the curiosity and exercise that the UK and Qatar have in creating commerce relations, conducting enterprise, and forming strategic funding relationships.

Wilks famous that the recently-launched ‘British Meals Pageant’, which ran till Could 25 in any respect LuLu shops throughout Qatar, gave an opportunity or alternative to the UK to share a few of its tech and enterprise partnerships to permit the Center Jap nation to reinforce its meals safety.

Wilks stated that the LuLu hypermarket chain, which has sourcing places of work in Birmingham, has helped with opening up key alternatives for suppliers throughout the UK, so that they’re in a position to entry totally different Qatari markets and work with different entities within the wider GCC area.

Wilks emphasised the significance of the UK and Qatar forming new expertise partnerships with a deal with digital commerce, Fintech platforms, well being, and schooling, amongst different industries.

Wilks remarked:

“E-commerce and Fintech are already huge areas for co-operation between the UK and Qatar, and that each nations are constructing on Qatar’s ambitions to grow to be a Fintech hub, which is a principal sector within the UK. London is likely one of the principal centres, and past London we’re already creating centres in main cities.”

Along with working with the UK and different European nations, Qatar and US enterprise initiatives had been valued at $200 billion, as of December 2020.

Final yr, Qatar Improvement Financial institution CEO stated the nation would work with US corporations to diversify its financial system, which is supported by Fintech and digital applied sciences.