Qatar and Turkey have recently held a series of high-level meetings, including an economic forum and a three-day expo aimed at further enhancing the bilateral and economic relations of both countries, which, according to a Turkish trade official, would be good for the region’s stability and economic prosperity.
A delegation from the Republic of Turkey Prime Ministry Investment Support and Promotion Agency (Ispat), led by its president, Arda Ermut, was in Qatar recently and held dialogue with private companies, Qatari institutions, and policymakers to promote investment opportunities in Turkey.
While majority of Turkey’s foreign direct investments (FDI) are from Europe, Ermut said the agency is seeking to attract FDI from the GCC region, which had witnessed a steady increase in previous years.
In 2010, the share of Turkey’s FDI from Europe was around 75% and has now decreased to around 65%. At the same time, the share of Asian countries in the total volume was around 2% and has now increased to around 5%. Investments from Russia and GCC countries increased the same way, Ermut said.
“But of course, the relationship of Qatar and Turkey relation is something different. This is why we think the opportunities and potential between the two countries are much higher. While we are looking at the investment perspective, we are also considering the trade and services perspective.
“These two countries can easily meet their demands by looking at their comparative advantages but when they co-operate I am sure that the effect would be multiplied and it would be good for both of them not only in their particular countries but at the same time for the entire region too – both for stability and economic prosperity,” Ermut told reporters in a meeting held recently.
Ermut noted that the agency will increase its presence in Qatar not only through official delegations but with the influx of more businessmen and tourists from Turkey.
During its one-day visit to Qatar, the agency met several companies and held meetings with Qatar Businessmen Association chairman Sheikh Faisal bin Qassim al-Thani and Qatar Chamber chairman Sheikh Khalifa bin Jassim bin Mohamed al-Thani, as well as institutions like the Qatar Financial Centre and Qatar Investment Authority.
“In all these meetings, we were able to discuss investment opportunities. There are many individuals and institutions in Turkey that are trying to increase relations with Qatar starting with President Recep Tayyip Erdogan, the office of the Prime Minister, the Ministry of Economy, including the Ministry of Customs and Trade, which was here in Qatar for an economic forum, the Ministry of Defence, and other authorities, whose presence will increase in the future... they are opening the way for us,” he said.
On Tuesday, HE the Minister of Economy and Commerce Sheikh Ahmed bin Jassim bin Mohamed al-Thani and Turkey’s Minister of Customs and Trade Bulent Tufenkci spoke at the Qatar-Turkey Economic Forum and formally opened the ‘Expo Turkey by Qatar 2018’ the following day.
The two ministers were also joined by Sheikh Khalifa, Independent Industrialists and Businessmen Association president Abdurrahman Kaan, Union of Chambers and Commodity Exchanges of Turkey president Rifat Hisarciklioglu, Turkish ambassador Fikret Ozer, and other officials during the high-level events.
LEAVE A COMMENT Your email address will not be published. Required fields are marked*
India and Iran to deepen ties, sign 9 agreements
Trump Park Avenue sues Saudi prince for not paying rent
Gulf’s rate reprieve may end as US spreads stop narrowing
Barwa Bank wins 2 titles at Global Banking & Finance Awards 2017
Qatar Chamber explores investment opportunities in Irish tech sector
‘China may retaliate if US imposes tariffs on metals’
Technical analysis of the QSE index
Weekly Market Report
China may look at gradual relaxing of capital curbs