The recent acquisition of 25 percent of Turkey’s Alternatifbank by Commercial Bank of Qatar shows the confidence of Qatari businessmen in the Turkish economy, despite the failed coup attempt, said Turkey’s Minister of Development Lutfi Elvan.
He was speaking at a joint meeting between Qatari and Turkish businessmen, hosted by Qatar Chamber of Commerce and Industry (QCCI) on Wednesday.
Elvan also praised Qatar’s decision to open a tourism office in Turkey, which would boost tourism between the two countries as Istanbul is one of the favoured destinations for Qatari holiday makers.
The minister said the volume of work undertaken by Turkish companies in Qatar in infrastructure, tourism and construction have exceeded $11.6 billion.
The meeting was attended by Vice-Chairman of Qatar Chamber Mohamed bin Ahmed bin Tawar and also a group of Qatari and Turkish businessmen.
Elvan said trade relations between Qatar and Turkey have enhanced recently and the volume of trade exchange between the two countries amounts to $1.3 billion.
Talking about Turkish economy, he said,”The growth rate in Turkey reached 5 percent in 2015 percent, and will range between 4.5 and 5 percent in the current year.
“Turkish economy is built on strong and solid foundations. Factories continue production and investment companies have not been affected by the recent incident,” he added.
During the meeting, Elvan revealed a number of projects and investment opportunities that are currently under way in Turkey, or to be launched in the coming period, which he said could be shared by businessmen from both countries.
He confirmed that Turkey would continue to improve its investment environment and provide incentives to investors, deepening the dialogue between foreign and Turkish investors. Meanwhile, Tawar said that economic and trade relations between Doha and Ankara has witnessed great development and has tripled in a short period of time, with more and more Turkish companies operating in Qatar and taking part in its ongoing development.
He said Turkey represents an important economic destination for Qatari investments especially in energy, transport, tourism, banking and real estate sectors.
“The Qatari investments in Turkey reached $20 billion, placing Qatar as the second biggest investor in Turkey.”
Last year Turkish companies managed to get projects worth $2.5 billion in Qatar, he said, adding that in the coming year, Qatar would be spending nearly $150 billion on infrastructure projects and Fifa World Cup, which could give Turkish companies a great opportunity to participate in these projects,” Tawar said.