Turkish Minister Highlights Strong Economic Ties with Qatar
In a recent conference held in Doha, Turkish Treasury and Finance Minister Mehmet Simsek emphasized the robust political and economic relations between Turkey and Qatar. He stated that Turkey is keen to attract Qatari investors, showcasing a commitment to enhancing trade and investment opportunities between the two nations. The conference served as a platform to discuss the potential for increased investment in various sectors, particularly technology, where the Qatar Investment Authority has already made significant contributions.
Simsek noted that the trade exchange between the two countries reached an impressive 4.75 billion Qatari riyals in 2023, highlighting the ongoing growth in bilateral trade. He expressed optimism about the future, predicting a substantial increase in Qatari direct investments in Turkey over the next five years. The Turkish government is implementing new economic programs aimed at stabilizing the economy, reducing inflation, and creating a favorable environment for foreign investments.
The conference also focused on legal frameworks and investment opportunities available for Qatari businesses in Turkey, aiming to facilitate smoother transactions and partnerships. Sheikh Khalifa bin Jassim Al Thani, Chairman of the Qatar Chamber, echoed these sentiments, praising the continuous development of economic relations and the eagerness of Qatari investors to explore opportunities in Turkey.
Qatari Investments in Turkey
Furkan Karaki, Deputy Head of the Investment Office of the Turkish Presidency, revealed that Qatari investments in Turkey total around $10 billion, primarily concentrated in sectors such as real estate, tourism, and infrastructure. He highlighted that 220 companies with Qatari capital are currently operational in Turkey, contributing significantly to the economy.
Karaki also provided insights into the broader context of foreign direct investment in Turkey, noting that since 2003, Turkey has attracted $255 billion in foreign investments, with a notable portion coming from Gulf countries. The strong relationship between Turkey and Qatar is expected to continue flourishing, with both nations poised to benefit from increased economic cooperation.
