Posted on July 19, 2018

With more than 300 Turkish companies operating in Qatar, the bilateral investments between Qatar and Turkey have reached around $30bn, including $20bn by Qatar in Turkey and around $11.6bn vice versa, officials said.

The officials representing the Turkey-based Supreme Council for Businessmen in the Middle East (SCBME) who are currently on a visit to Qatar said this during a press conference in Doha on Tuesday. The press conference was attended by several Turkish and Qatari businessmen as well as presidential advisor in Turkey Yasin Aktay.

Ahmed Yabroudi, president of SCBME, said that the investments are likely to increase with opening of new opportunities in near future."There are many more areas wherein Qatar and Turkey can explore investment opportunities. Once these new areas are covered, the trade volume between the two countries, Qatar and Turkey, will see substantial increase," Yabroudi explained. Yabroudi announced that in coordination with Qatar Chamber, they will be holding an effective commercial conference for Arab and Turkish businessmen this October. 

"Qatar's investments in Turkey are very successful and they now own two Turkish banks, including Finance Bank with a net worth of $2.9bn, which is now owned by Qatar National Bank," he added. He further pointed out that they are trying to promote investments in other Turkish provinces which have local production, despite the focus on the main provinces of Istanbul or Ankara. Yabroudi said that the target of Turkey is to become one among the top 10 economies of the world.

source: Qatar Tribune