"We believe that no trade between the UK and Qatar should fail for lack of finance and insurance. We will be doubling the finance available from UK Export Finance to support trade with Qatar to £4.5 billion. That… will be an additional £2.25 billion in support for UK companies exporting to Qatar, and for their Qatari buyers in both the public and private sectors," Fox said in a statement, published on the UK government's website.
He added that London was interested in promoting mutual trade and investment with Qatar.
"Yet more recently, Qatar-UK relations have been characterised by ambitious projects, profitable investments, and a proven track record of successful collaboration. Most visible has been the £35 billion worth of investment that Qatar has made in the United Kingdom," Fox said.
Fox pointed out that 600 UK firms were operating in Qatar, with some of them involved in preparations for the 2022 World Cup. He added that Qatar also remained one the United Kingdom's key partners in the energy sector.
According to UK government statistics, UK exports to Qatar totaled $3.2 billion in 2015, with Qatar exports to the United Kingdom amounting to $3.4 billion.
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