Qatar’s investments in Turkey will continue in the coming period, especially in the banking and real estate sector, said Yousuf Al-Jaida, CEO of the Qatar Financial Centre.
“Qatar will continue to invest in Turkey not only in the banking sector but also in the real estate sector. Some 35% of the $10 billion that Qatar has committed has been invested, and there is another $7 billion to flow into Turkey. Investments follow healthy political relations, and our relations with Turkey date back centuries,” Al-Jaida was cited as saying by Anadolu Agency (AA) on Tuesday.
Qatar was Turkey’s largest foreign investor last year, according to Al-Jaida, who added that the two countries have healthy political relations and that the heads of states share a common strategic perspective on global developments.
His remarks come after President Recep Tayyip Erdoğan’s official visit to Doha on Nov. 25 to attend the fifth meeting of the Turkey-Qatar High Strategic Committee. As part of efforts to promote bilateral economic ties, the visit saw seven agreements being inked between Ankara and Doha in the fields of economy, urbanization, trade, industry, technology and standardization.
The Qatar Finance Center and Turkey’s Presidential Finance Office inked a memorandum of understanding, aimed at strengthening economic and financial ties between the two countries.
The two allies’ close economic ties strengthened significantly after a Saudi-led embargo on Qatar. Ankara emerged as one of Qatar’s top partners since the Saudi Arabia-led bloc launched a trade and diplomatic boycott of the Gulf state in 2017, sending additional troops and food to meet Qatar’s needs just after the embargo began.
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