Doha: Chairman of Qatari Businessmen Association (QBA) Sheikh Faisal bin Qassim stressed the strength and durability of the relationship between Qatar and Turkiye, distinguished by a momentum of high-level visits, which come to translate the strategic nature that distinguishes the relationship between Doha and Istanbul and contribute to strengthening it in various fields.
In an interview with Qatar News Agency (QNA), the Chairman of the Qatari Businessmen Association said that the visit of H H the Amir to Turkiye will give even more momentum to the existing cooperation between the two countries, which includes many domains, and is constantly going upwards.
The Chairman stressed the keenness of both countries leadership to explore an expansion of trade and economic cooperation, opening new horizons to enhance joint investments, especially given the great economic and trade potentials that Qatar and Turkiye have, bringing forth even more common interests and economic prosperity, in all sectors.
Sheikh Faisal explained that the relationship binding the business sectors in the two countries is based on mutual benefits where “everyone is a winner”. He pointed out the great intertwining of economic interests between Qatari businessmen and their Turkish counterparts, as Qatari investments in Turkiye are distributed over various activities: the tourism, agricultural and financial sectors. Moreover, Qatari individuals and companies have investments in the Turkish real estate sector, benefiting from real estate ownership regulating laws, in addition to an expansion of Qatari banks’ investments in the country.
The volume of Qatari direct investments in Turkiye is estimated at about QR38bn, according to Turkish Central Bank data, end of December 2021. There was also an inflow of about QR11bn of foreign direct investment coming from Qatar to Turkiye until the end of last June.
Sheikh Faisal bin Qassim pointed to the presence of a number of Turkish companies operating in the Qatari market, providing an added value to the local market, given the great expertise Turkish companies possess, especially in industrial activities and other fields.
More than 711 Turkish companies operate in Qatar, 664 of which have a Qatari and Turkish capital, and 47 other companies with 100 percent Turkish capital, as well as 15 Turkish companies in the free zone in Qatar. On the other hand, there are more than 183 Qatari companies operating in Turkiye.
The construction sector is one of the areas most focused on by Turkish companies operating in Qatar, in addition to the economic, commercial, health, real estate, technological and industrial sectors.
Turkiye is also a distinct investment destination for Qatari investors, as there are many successful Qatari investments in Turkiye in various sectors notably real estate, and tourism.
The QBA Chairman emphasized the role of business owners in benefiting from the cooperation between the two countries in all fields, as there are many opportunities that the private sector in Qatar and in Turkiye can benefit from.
The head of the Qatari Businessmen Association called on investors in the two countries to increase their joint investments that provide a solid base from which they can enter into global markets, especially since Turkey has a presence in a number of markets such as the Central Asian markets with which it has historical ties.
He remarked that there is nothing that prevents the emergence of Qatari-Turkish joint venture companies with a global outreach, especially given that Turkey is a large market, and has a presence in many other markets, especially in Central Asia. Sheikh Faisal bin Qassim pointed out that there are many rewarding investment opportunities in Turkey particularly in tourism, banking, construction, industry.
