President of the Investment Office of the Presidency of the Republic of Turkiye H E Ahmet Burak Daglioglu
Ankara: President of the Investment Office of the Presidency of the Republic of Turkiye H E Ahmet Burak Daglioglu stressed that relations between Qatar and Turkiye are strong and well-established. He told QNA that the last 10 years have witnessed great development in Qatari-Turkish relations in various fields.
He said Qatari investments in Turkiye are currently estimated at $10bn, and there are Qatari companies operating regularly inside Turkiye, some with full Qatari capital, others with mixed capital, and in varying proportions. He also pointed out that Qatari investments exist in several different sectors, especially the finance sector (banks), health and tourism, in addition to real estate, in which Qataris (individuals and companies) have invested, with the recent period witnessing the entry of Qatari investments into the ports and technology sectors.
Daglioglu also stressed that Qatari-Turkish relations have expanded and grown significantly in the economic and investment aspect during the recent period, as the volume of trade exchange between both countries amounted to about $1.8bn.
He said the two countries are seeking to increase bilateral trade to $5bn by 2025, and that each of the two countries exports to the other its needs of materials and goods.
He added that the Turkish investment office is currently working with the investment office in Qatar, cooperating and discussing mechanisms of cooperation between both countries. There is also an agreement to protect the rights of Qatari investors in Turkey, he added.
Daglioglu pointed out that Qatari investors have made successful investments and large projects in previous years, and that the Qatar Investment Authority (QIA) currently has three huge projects in Turkiye. He reiterated that the coming years will witness an increase in the volume of investment between both countries. The movement of tourists between the two nations has also increased, especially after the COVID-19 pandemic, he said, and added that the numbers of Turks who will visit Qatar with the start of the FIFA World Cup Qatar 2022 and flights between the two countries are expected to increase.
The Turkish official added that both countries also play an important role in resolving the current crisis in supply chains and transporting goods the world is facing.
Daglioglu pointed out that there are agreements between the two countries in the fields of economy, trade and investment. These include a free trade agreement, in addition to agreement to protect investors from both countries, and an agreement to prevent double taxation. The two countries spare no effort to strengthen their relations in various fields, especially in the economic field, he said.
He also stressed that relations between Qatari businessmen and their Turkish counterparts are distinguished, as each side participates in all events and exhibitions organised by the other side constantly. There are also joint investments by Qatari and Turkish businessmen in some countries of the world.
He added that the Office always advises investors who come to Turkiye to go to long-term companies to invest in, especially technology companies that grow rapidly, and export companies that bring in hard currency, pointing to the increased demand from Qatari investors for technology companies.
He said that Turkish exports grew by nearly 30 percent after the COVID-19 pandemic, indicating that the COVID-19 pandemic affected all economies of the world, but the Turkish economy continued to grow during that period, as Turkish companies continued to produce and manufacture, at a time when international companies stopped their work and gave up part of their employees. While the Turkish government provided incentives for companies to continue their work, through the state bearing 30 percent of the salaries of employees in some companies to ensure the continuation of work.
He added that the infrastructure in Turkiye, such as ports, airports, and tunnels (such as the Eurasia Tunnel, in which the Qatar Investment Authority has investments) also contributed to supporting the country’s economy, noting that Turkish exports doubled during the current year.
Daglioglu also stressed that the Turkish authorities give guarantees to investors in hospitals and some other private companies which is called safe investment, and added that the authorities have made a comprehensive change in the laws on investment and investors where there is equality between the Turkish investor and the foreign investor, in addition to special support for investments in the field of technology.
He noted that the “Technofest” exhibition, which is considered the largest technology exhibition in the world, held its fifth edition this year under the auspices of Turkiye’s President H E Recep Tayyip Erdogan.
Over 500 foreign companies from Switzerland, Germany and other countries operate in Turkiye in the field of production and technological development, and these companies export their products from technology programmes and projects to countries around the world, he added.
