UK, Qatar Ink 2 New Trade and Investment MOUs
The U.K. and Qatar during the third U.K.-Qatar Joint Economic and Trade Committee Aug. 24 announced two new memorandums of understanding to boost trade and investment between the two nations, the U.K.'s Department for International Trade said. The MOUs include a new deal between DIT and Qatar's Investment Promotion Agency to help British businesses enter the Qatari market. The agreement will give information to companies on "strategic investment opportunities," and open the U.K. export market to vitamins and supplements. It allows Holland & Barrett to ship these goods to Qatar, the DIT said.
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The second MOU is with the Qatar Development Bank to allow U.K. and Qatari companies to share expertise on export finance, insurance products and cooperation on projects involving British and Qatari services, the DIT said. "Qatar is an important trade and investment partner for Britain," U.K. International Trade Minister Ranil Jayawardena said. "I believe we should nurture and maximise the strength of our relationship to make our economies more resilient and prosperous. We are committed to taking steps to further deepen the trade and investment relationship we share with Qatar, and today’s JETCO signals our ambition through two significant agreements."