Qatar doubles investments in Australia to reach QR10bn, says envoy

Qatar has doubled its investments in Australia in the past two years, which now sits at around 4bn Australian dollars or about QR10bn, according to Australian ambassador Jonathan Muir.Speaking on the sidelines of ‘Australian Week’ organised recently by LuLu Group, Muir said: "We’ve seen a doubling of Qatari investments in Australia. Qatar Investment Authority (QIA) is a major investor in commercial real estate, electricity grid, and a partner in the Sydney Airport.”Muir also lauded Hassad Foods’ investments in Australia, as well as Nebras Power’s contributions to the country’s energy mix."We value Hassad Foods’ investments in Australia. But more importantly, we have seen an increase in Qatari investments over time...Nebras Power is a great investor in Australia, which is decarbonising its economy."So, they are now important investors in Australia’s renewable energy sector, taking important stakes in two green farms, and we welcome further investments from them over time,” the ambassador emphasised.Asked about Qatar-Australia trade, Muir noted that bilateral trade between both countries is "really going well.”"Two-way trade reached 2.6bn Australian dollars or about QR7bn. Over the course of the last four years this is annualised growth of about 8% year-on-year, so despite the effects of the Covid-19 pandemic trade between Qatar and Australia continues to grow annually,” Muir told Gulf Times.He said Australia’s top exports to Qatar are mostly engineering services, meat, and produce, while its top imports from Qatar are aviation services, aluminium, and fertilisers.Muir also lauded Australia’s relationship with LuLu Group, which he stressed is ramping up its relationship with different major Australian suppliers. The ambassador also praised the support extended by Qatar Airways, especially during the pandemic, allowing Australian exports to reach international markets."Over the past years, LuLu has ramped up its relationships with suppliers in Australia leading to an increase in our local products and the volume, as well. We are also grateful for the support we received throughout the pandemic from Qatar Airways by helping to keep our exporters connected to the world, and we’re also very grateful to the tourism that they bring,” he said.