Published : 4 days ago, on 05/12/2024

LONDON (Reuters) – British Prime Minister Keir Starmer and Qatar’s emir, Sheikh Tamim bin Hamad Al Thani, pledged to deepen their investment relationship during a meeting on the final day of a Qatari state visit to Britain.

The visit comes as Starmer seeks to deepen ties with wealthy Gulf states in search of investment to help fund his mission to rebuild a cash-strapped Britain’s creaking infrastructure and shift to a clean energy system by the end of the decade.

“The two leaders agreed that the countries’ thriving investment relationship would continue to grow and deliver significant benefits for both countries,” a statement on the meeting issued by Starmer’s office said.

On Tuesday, Qatar said it would invest 1 billion pounds ($1.3 billion) in climate technology in Britain, and the two countries also announced a memorandum of understanding to promote cooperation in financial services.

Qatar is already a big investor in Britain through the Qatar Investment Authority which owns the Canary Wharf business and entertainment district in east London and stakes in blue-chip names such as Barclays and Heathrow Airport.

The emir is scheduled to leave Britain later on Wednesday after another formal dinner engagement in the London’s financial district.

(Reporting by William James; editing by David Evans)