UK Exhibits Full Support to Qatar Post Accomplishing Brexit Deal
As the looming threats of what would happen once the Brexit deal is achieved have finally departed, the world countries have now encountered another area of stress. At a time, when the UK is trying to increase its involvement in the Middle Eastern countries, the positive and negative impacts of Brexit on the world markets have become a source of concern for the analysts.
One of the Middle Eastern countries, Qatar that has a strong political, cultural, and economic background with the UK will be benefited with the Brexit deal, the analysts say. They believe that the British departure from the European Union could strengthen the economic relations between both the UK and Qatar, paving the way for more economic and business opportunities.
Since, the Brexit deal has already been achieved, now it’s time for the UK to negotiate agreements with the Gulf countries. The critics believe that it could now be easily achieved, with no interference from the EU. The bilateral agreements between Britain and each of the Gulf countries would replace the current free trade agreements with the EU, while the former would become an export-based economy with negotiations from individual bilateral agreements with each country.
Over the time, the UK exports to Qatar have continued to rise as the latter provides the ease of doing business in most of the countries. In March 2019, the UK exports to Qatar amounted to £3.5 billion. The country is also the partner of choice for Qatar National Vision 2030, a developmental plan launched in October 2008 by the General Secretariat for Development Planning in the State of Qatar.
As the QNV 2030 aims to transform Qatar into an advanced society capable of achieving sustainable development by 2030, the UK plans to help the country in its objective. Various strategies have been made to address the challenges hindering economic, social, human and environmental development. A global bureaucratic framework of policy making, planning and allocation of funds to fulfil the task is equally important.
The UK has agreed to strengthen bilateral trade and investment relations with Qatar, while enhancing other fields of cooperation especially education, health, banking, engineering, development and projects related to the 2022 FIFA World Cup. This would promote activities of mutual interest between both the countries.
From former UK Prime Minister Theresa May to current Prime Minister Boris Johnson, every leader in the country has actively committed to cooperate with Qatar. A year before accomplishing the Brexit deal, Johnson even hosted the Emir of Qatar, Sheikh Tamim bin Hamad al-Thani, indicating his strong firm on bolstering the UK-Qatar relations.
Not only that, the Qatari investments in Britain have played an important role in the British economy. A data suggests that there are 675 Qatari-British companies operating in the Qatar’s market covering various economic sectors. There are also 50 British companies with 100 percent ownership in the Qatari market in various sectors, such as decoration, services, energy, consulting, technology, education, and health.
Taking their relationship to next level, both Qatar and the UK are currently working on a memorandum of understanding (MoU) that will create a structure for the UK to support the 2022 FIFA World Cup host across all areas, ensuring a safe and secured tournament.
Security, trade, business, and defence would become the key areas of co-operation under the MoU. In addition, the two countries will also have a joint squadron – Qatari and British pilots – flying together as a unit, indicating the UK’s support for Qatar’s World Cup in 2022. Besides that, the UK is determined to promote regional stability in pursuit of maintaining a stronger relationship, while fulfilling its commitments to Qatar.
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