Lord Mayor looks to build financial ties with Qatar

The Lord Mayor of the City of London, Alderman Alan Yarrow, will be visiting Qatar on Tuesday 27 January helping improve the financial and professional services ties between Qatar and the UK. The visit will aim to boost the bilateral trade and investment between the two countries which stands at £5 billion per year. Currently, the UK is the fourth largest exporter to Qatar.

Acting as ambassador for the UK’s financial and professional services, Lord Mayor Yarrow will be in Doha and meet with the Prime Minister, other senior members of the government, investment authorities and senior business leaders.

The Lord Mayor will be joined by a wide ranging business delegation from the UK which includes senior representatives from banks, asset managers, insurers and legal services firms. The Lord Mayor will also launch the establishment of the new British Chamber of Commerce in Doha housed in the headquarters of HSBC.

Speaking ahead of his trip, Lord Mayor Yarrow said:

“Qatar is rapidly progressing with a visionary economic reform plan. With the World Cup being hosted in 2022, combined with proposals for ambitious infrastructure developments, the nation has maintained its status as one of the globe’s fastest growing economies.”

“My visit, accompanied by a strong business delegation, goes to show just how committed the UK is in remaining the Qatar’s partner of choice in the financial and professional services sector. With a trade relationship worth £5 billion each year, we are more than ever wanting to build on this and support Qatar in their grand economic plans.”

The visit to Qatar forms part of a wider 12-day visit to the Gulf from 16 – 28 January.

Notes to editors

About the Lord Mayor of the City of London: The Lord Mayor is head of the Square Mile’s City of London authority for one year and the position is unpaid and apolitical. It is an exceptionally demanding role. The Lord Mayor spends some 90 days abroad and addresses some 10,000 people face-to-face each month (making around 800 speeches a year). The Lord Mayor represents City businesses and helps the City Corporation advise the Government of the day on what is needed to help the financial services sector to function well. The Lord Mayor frequently travels to represent the City; and travels overseas with the status of a Cabinet Minister. The Lord Mayor meets several international Heads of Government and Business each month to discuss financial services, often in conjunction with senior City business representatives. The Lord Mayor lives in the Mansion House for the Mayoral year.