IPA Qatar, Invest in Türkiye highlight collaboration milestones and launch the 1st joint report on Qatar and Turkey bilateral investment relations
14 December 2020
On the occasion of the 6th Qatar-Turkey Supreme Strategic Committee and the 1st anniversary of their partnership, the Investment Promotion Agency Qatar (IPA Qatar) and the Presidency of the Republic of Turkey Investment Office (Invest in Türkiye) recently co-hosted a virtual seminar to highlight the key milestones of their collaboration and celebrate the launch of the first joint report on Qatar and Turkey’s bilateral investment relations titled ‘Qatar & Turkey: Unlocking sustainable investment opportunities across the economic spectrum’.
The event witnessed the participation of Turkey’s Ambassador to Qatar H.E. Dr. Mehmet Mustafa Göksu, alongside representatives from IPA Qatar, Invest in Türkiye, and a number of private Qatari and Turkish enterprises, who shared their successful investment journeys in the two countries.
For his part, H.E. Dr. Mehmet Mustafa Göksu commented:
“The 6th session of Supreme Strategic Committee which we hosted in Ankara on November 26th proved the increasing importance of the Turkey-Qatar economic partnership overall. 7 out of 10 agreements signed during the meeting were in the field of economy. Thus, the launch of this insightful report today is very timely. We trust that it will serve as a guide for individuals and companies looking for new business and investment opportunities in our respective countries. I would like to thank our colleagues in the Investment Office and IPA Qatar for their efforts in putting this report together.”
IPA Qatar’s CEO Sheikh Ali Alwaleed Al-Thani expressed his gratitude to Mr. Ahmet Burak Dağlıoğlu, President of Invest in Türkiye, for helping create harmonious economic relations between the two countries. He noted: “IPA Qatar’s partnership with Invest in Türkiye builds on a strong collaborative foundation between Qatar and Turkey and the remarkable trade and investment synergies between the two economies. Today, we celebrate together our bilateral collaboration and the launch of our joint report, which showcases the two countries’ resiliency, business-friendly environment, and sector-diverse opportunities that Qatar presents to Turkish investors and vice versa.”
Following up on IPA Qatar CEO’s remarks, Invest in Türkiye’s President Mr. Ahmet Burak Dağlıoğlu said: “The “Qatar-Turkey Bilateral Trade & FDI Report” aims to provide an overview of the investment landscapes in the two friendly and allied nations. We hope this report serves as a guide for individuals and companies who are willing to invest in Turkey and Qatar. As Invest in Türkiye, we will continue to work with our esteemed colleagues at IPA Qatar to increase bilateral investments. We attach utmost importance to Qatari investors as Qatar has been a key player globally with strategic investments in many countries. And, we are happy to see that Qatari investments in Turkey have been increasing in recent years.”
The joint webinar was attended by a number of Turkish and Qatari multinational companies, SMEs, and startup ventures representing various sectors and industries. During the event, the IPA Qatar and Invest in Türkiye representatives presented key highlights of the Qatar-Turkey Bilateral Trade & FDI Report and the two nations’ value propositions. The value realized by investors in both Qatar and Turkey was showcased with testimonials shared by high-level representatives of Doğuş Group, Yapı Merkezi, QNB and the Commercial Bank.
he bilateral report can be found on both the website of IPA Qatar and Invest in Türkiye. During the 5th session of the Qatar-Turkey Supreme Strategic Committee in 2019, and in the presence of the Amir H.H. Sheikh Tamim Bin Hamad Al-Thani and the Turkish President H.E. Recep Tayyip Erdoğan, IPA Qatar and Invest in Türkiye signed an MoU to collaborate in several areas to support the investment journey of Qatari and Turkish enterprises and help them realize their growth ambitions in both countries.
It is worth mentioning that bilateral trade between Qatar and Turkey continues to strengthen, having increased by 2.5 times between 2013 and 2019. Qatar has shown a continued commitment to investing in Turkey, with the value of Qatari investments in Turkey standing at USD 22 Billion in 2019. Meanwhile, over 675 Turkish companies are operating in Qatar and this number continues to see an upward trend, given the increased bilateral cooperation.
As part of the 6th Supreme Strategic Committee, recently held in Turkey, 10 agreements were signed between the two nations, bringing the total number of agreements signed as a result of Qatari-Turkish meetings to 62.