Sheikh Dr Khalid (second left) with Erdogan at the Presidential Palace in Ankara. Also seen are al-Shaibei (left) and al-Hashmi. Trade volume between Qatar and Turkey currently stands at about $1.5bn, compared with $800mn in 2014 and $38mn in 2000.
Opportunities for Qatari investors and businessmen in Turkey were discussed during a meeting Ezdan Group Holding chairman Sheikh Dr Khalid bin Thani al-Thani had with Turkish President Recep Tayyip Erdogan in Ankara recently.
Efforts to involve the private sector of the two countries in building bilateral relations also figured in the talks held at the Presidential Palace in Ankara.
Erdogan praised the level of economic co-operation between the two countries and urged the private sector in Qatar and Turkey “to continue efforts to promote joint investments and tap investment opportunities provided by the attractive economic climate” in the two countries.
Trade volume between Qatar and Turkey currently stands at about $1.5bn, compared with $800mn in 2014 and $38mn in 2000.
Qatari investments in Turkey exceed $20bn, the second highest by any country in Turkey. With focus on agriculture, tourism and real estate, the Qatari investments are expected to be the largest in Turkey in a few years.
More than 60 major Turkish companies are currently operating in Qatar besides some 150 smaller firms, mainly engaged in the contracting, electronics and trade.
These companies are currently implementing several projects in Qatar worth about $14bn, most of which have been awarded in the last 10 years.
Turkish exports to Qatar have grown by 200% in the last two years to reach $1.2bn now.
Qatari imports from Turkey focus mainly on iron and steel, electrical appliances and equipment, tractors, bicycles and products made of iron and steel as well as heavy industries in general, in addition to food products of all kinds.
On the sidelines of the event, the Turkish President presented a copy of the Holy Qur’an written using the Ottoman calligraphy to Sheikh Dr Khalid in addition to a special version of his book Vision of World Peace, and a rare version titled Jerusalem Through Pictures-Past and Present.
On the Turkish side, the meeting was attended by Erdogan’s senior adviser Safar Touran, and president of the World Trade Centre in Istanbul, Arda Ermont.
The Qatari side also comprised QIIB chief executive officer Abdulbasit Ahmed al-Shaibei and International Investment Company CEO Ali Abdul Rahman al-Hashmi.
Ezdan Holding Group is one of the largest investment groups in Qatar with its huge real estate portfolio, financial investments in Islamic banking and Takaful insurance companies, health care and media, among others. Ezdan Holding Group won several international awards, the recent one being “The Best Qatari Group in Investment Diversification 2015 “by Forbes.
Turkish Contractors Association (TCA) president Emin Sazak said fresh Turkish investments in Qatar could touch between $25bn and $30bn over the next few years, mainly in infrastructure development ahead of the FIFA World Cup in Qatar in 2022.
In 2009, the first edition of “Made in Turkey” was held in Doha. The second edition will be held in December this year.
A project is on the anvil to set up a “Turkish Village” in Doha, which is planned as a mini-Istanbul and will have markets, hotels and a mosque.
Turkey is one of the popular tourist destinations for Qataris and residents. Turkey received more than 20,000 Qatari tourists last year.
The two countries signed many important economic agreements, one of which was the Reciprocal Promotion and Protection of Investments Agreement.