Two Turkish officials in Doha to discuss economic partnership ahead of Erdogan’s visit
Ankara has announced that Turkey’s Vice President and Minister of Finance will travel to Qatar today, Saturday, to discuss “economic cooperation opportunities” with leaders there before President Recep Tayyip Erdogan’s planned visit to the Gulf region from July 17th to 19th. This visit appears to be aimed at further supporting Qatari-Turkish relations and assisting the Turkish economy, which is facing several crises, especially the depreciation of the lira.
Relations between Doha and Ankara are considered special and strategic in both the economic and military fields. The two countries support Islamic groups, notably the Muslim Brotherhood, which is classified as a terrorist organization in several Arab countries.
The government stated that Vice President Fuat Oktay and Treasury and Finance Minister Lütfi Elvan will meet with the Emir of Qatar, Sheikh Tamim bin Hamad Al Thani, and other officials this week to discuss economic relations and strengthen ties.
Both the Qatari Emir and the Turkish President have had more than 32 mutual visits over just 8 years, according to statistics provided by the Anadolu Agency, which is a record number in the diplomatic relations between countries.
The economic agreements signed between Ankara and Doha have increased to 80 agreements, with the vast majority of them, if not all, being in favor of Turkey. Qatar’s direct investments in Turkey have significantly increased to $33.2 billion, while the value of infrastructure projects carried out by Turkish construction companies in Qatar reached $22 billion. The currency swap agreement also increased to $15 billion.
Regarding commercial companies operating in both countries, Turkish statistics state that there are “over 700 Turkish companies operating in various sectors in Qatar, alongside 200 Qatari companies operating in a wide range of sectors in Turkey.”
Ankara seeks to enhance its cooperation in the energy sector with Doha, which is the world’s largest source of liquefied natural gas.
In terms of tourism, the number of Qatari visitors to Turkey was around 30,000 in 2016, then increased to about 110,000 in 2019, and reached 140,000 tourists this year.
Turkish security forces assisted their Qatari counterparts in securing the 2022 FIFA World Cup.
During the crisis between Qatar and its Gulf neighbors, Turkey provided significant support to Qatari authorities and strengthened its military presence there before the Gulf reconciliation took place in the city of Al-Ula, Saudi Arabia, in 2021.
Sources on Friday indicated that Turkey expects Qatar, Saudi Arabia, and the United Arab Emirates to initially inject direct investments of around $10 billion and a total of $30 billion in the energy, infrastructure, and defense sectors following Erdogan’s visit to the three countries.
Since 2021, when Turkey launched diplomatic efforts to repair relations with Saudi Arabia and the UAE, Gulf investments and financing have helped alleviate pressure on the Turkish economy and ease the currency crisis.
