By Fran Gillespie  | |
BRITAIN will soon be reliant on Qatar for between 15 and 20% of its gas supply, Prince Andrew, Duke of York, yesterday said, describing the relationship between the two countries as "almost umbilical".
Speaking at a luncheon held by the Qatar British Business Forum (QBBF), Prince Andrew acknowledged that the rapid rate of inflation, plus the lack of sufficient school places and other factors were currently inhibiting British business expansion in Qatar, but he emphasised the longstanding and close links between Qatar and the United Kingdom.
Representatives from a wide range of British business interests in Qatar were present at the luncheon at the Ramada Plaza Hotel yesterday, when Prince Andrew, Duke of York was the guest of honour. The Duke of York is the UK's Special Representative for International Trade and Investment.
The Duke of York was welcomed on behalf of the QBBF by Gary Mond, head of retail banking at the International Bank of Qatar. In his address to the QBBF members, The Duke, who has previously visited Qatar on a number of occasions, said that it was a pleasure to return to this country and to encounter familiar faces once again, in addition to some newcomers.
"Many young people from Qatar are educated at British universities," the Duke observed, and he hoped that universities all over Britain would continue to attract students from this country. He commented on the fact that it is almost a tradition for many Qataris to visit London during the hot summer months!
The role of the QBBF, he said, was not only to assist in providing information and advice for UK services and businesses considering setting up offices in Qatar but also for foreign investors who contemplate entering the UK.
The Duke referred to the dilemma faced not only by Qatar but all the GCC countries as to whether or not they should unpeg their currencies from the US dollar. He pointed out that inflation in Qatar was caused not only by domestic circumstances but by factors outside the control of this country such as the rapid rise in the price of basic commodities including foodstuffs.
Despite the problems resulting from inflation, he urged British businesses to "stick with it", because, "this country is a real engine room of growth and development in the next four or five years."
In his closing remarks the Duke of York thanked everyone present for helping to give a friendly image to British business interests in Qatar.
"The QBBF", he said, "is a vibrant organ of success for people on the ground", and he wished its members every success.
Among the guests were the British charge d'affaires in Qatar, Roddy Drummond, and his wife Yasmin, prominent Qatari businessman Yousuf Darwish and British peer the Right Honourable the Lord Slynn of Hadley, a leading representative of the legal profession. |
