Qatar’s investment in Turkey crosses $20bn

Photo: www.thepeninsulaqatar.com


With the fast-growing and deepening bilateral relations between Qatar and Turkey, Qatar’s investment in Turkey has crossed QR72.83bn ($20bn), which is expected to touch new heights in the coming days as both sides are working aggressively to further expanding the level of bilateral cooperation in all fields, including business, trade and investment.

Qatar and Turkey, including leading businesses and investors from both sides, are set to organise a joint international forum which is to be held in October in Turkey. The forum aims at boosting bilateral economic cooperation and investments both in Qatar and Turkey.

At the coveted forum contracts signed between both sides are expected to be implemented. In addition, participants, including Qatari businessmen, will be introduced about the investment opportunities in Turkey and the tourist potentials and production in industry, food and health.

The bilateral trade volume and economic cooperation between Qatar and Turkey have witnessed an unparalleled growth over the last couple of years, especially after the unjust economic blockade imposed by some of Qatar’s neighbours, in early June last year.

Turkey, which has emerged as one of the fastest growing economies in the world, is one of Qatar’s closest strategic allies and most trusted trading partners. Both sides are working to deepen relations, and looking forward to develop and strengthen partnerships. The bilateral trade volume reached QR4.73bn ($1.3bn) in 2017.

Currently, more than 300 Turkish companies of different sizes are operating in the Qatari market, 26 of which operate with 100 percent Turkish capital. The combined value of projects handled by by Turkish companies in Qatar stood at about QR42.24bn ($11.6bn).

The numbers were released on Tuesday (late evening) at a press conference addressed by Dr Yasin Aktay, Adviser to Turkish President Recep Tayyip Erdogan. Dr Aktay, and the members of his accompanying high level trade delegation, which included Dr Ahmad Yabrudi, Head of the Middle East Businessmen Council, visiting Qatar to attract investments in Turkey, especially to the Siirt province. The delegation is here to take advantage of the capacity and potential in Qatar and Turkey by launching more bilateral projects between the businessmen in both countries in a way that will reflect positively on the trade volume of both countries.

Dr Yabrudi noted that the delegation’s visit to Qatar aims to develop ties between Qatari companies and its Turkish counterparts by establishing new partnerships and alliances in light of the significant potential found in both countries. He added that the council agreed with entities in Qatar to form committees to ensure achieving these aims.

Dr Aktay highlighted that Turkey is witnessing an unprecedented growth in several economic fields, especially foreign trade, and the total value of exports over the past twelve months have reached about $164bn.

The visit of the Turkish trade mission, which coincided with the second anniversary of the failed coup attempt in Turkey, Dr Aktay spoke in great details about the efforts made by Turkey to face the threats and plots that target its economy and safety. He added that Turkey has become an even stronger and more persistent in pursuing development. And the propaganda created and spread through a section of the Western media will not be able to hinder Turkey’s growth and prosperity.

Aktay also expressed his deep gratitude to Qatari people and the leadership for the firm stance in support of Ankara during the coup attempt. He noted that Turkey will not forget those who stood by it in those circumstances and those who chose to remain silent.

Source: www.thepeninsulaqatar.com

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