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Friday, January 21, 2022

Qatar trade volume with UK and EU reaches new heights


Doha has invested heavily in both markets

The trade volume between Qatar and the European Union reached $7bn in the first nine months of 2020, according to the Ministry of Commerce and Industry. 

Qatar Chamber has also announced that although trade between the United Kingdom and Qatar has increased by 22% over the past two years, it has been dropping in recent months, with its value reaching $2.5bn at the end of the third quarter of 2020.

Read also: Qatar and Turkey ink 10 new deals in latest round of ‘Strategic Dialogue’ meetings

Trade between Qatar and European Union member states makes up 12.3% of Qatar’s total global trade, that’s according to minister Ali bin Ahmed Al Kuwari, who highlighted the growing business ties between Qatar and Europe during a call with EU and World Trade Organisation representatives. 

Qatar has signed 14 commercial, economic, and technical cooperation agreements, as well as 12 “Reciprocal Promotion and Protection of Mutual Investments” agreements with various EU member nations in addition to having eight joint committees on trade and commerce. 

Aside from trade, Doha’s investments in the EU stand at $31bn, while there are 2,129 fully or partial EU owned companies operating in Qatar.

Qatari investments in the UK, which is on its way out of the European Union, currently stand at $47bn. 

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