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Qatar To Invest $15 Billion In Turkey.

August 15, 2018

President Recep Tayyip Erdoğan meets with Qatari Emir Sheikh Tamim bin Hamad al-Thani in Ankara.


President Recep Tayyip Erdoğan meets with Qatari Emir Sheikh Tamim bin Hamad al-Thani at the presidential complex in Ankara, Turkey today 15 August 2018 on Wednesday. The investment package was announced after Qatar’s Emir Tamim bin Hamad Al Thani met Turkish President Tayyip Erdogan in Ankara.

Emir Sheikh Tamim bin Hamad Al Thani has said Qatar is standing by its “brothers in Turkey” as he announced a $15bn investment into the country’s financial markets and banks. The emir’s comments on Wednesday came after holding talks with Turkish President Recep Tayyip Erdogan in Ankara, Turkey’s capital. Turkey is currently grappling with a currency crisis and heightened tensions with the United States, its NATO ally.

Sheikh Tamim is the first foreign head of state to visit Ankara since the stand-off with Washington began last week. “We stand by the brothers in Turkey that have stood with the issues of the Muslim World and with Qatar,” Sheikh Tamim said in a tweet. “As part of the important talks that I held in Ankara on Friday with His Excellency President Erdogan, we announced a $15bn deposit package and investment projects in the country, which has a strong and solid productive economy.” Erdogan and Sheikh Tamim also discuss ways to improve their strategic cooperation. “We attach importance to his visit. This visit, at the same time, is an indicator that Qatar stands with Turkey,” Ibrahim Kalin, a spokesperson for the Turkish president, told reporters at a press conference on Wednesday.

Salim bin Mubarak Al Shafi, Qatar’s ambassador to Turkey, said his country would continue to support Turkey, adding that the emir’s visit demonstrated the “depth” of the two countries’ ties. “Qatar will continue to stand by its Turkish brothers as it did during the failed coup attempt in 2016,” Al Shafi said, adding Qatari people purchased millions of Turkish lira to support Ankara against the “economic operation”, the country is witnessing, local media reported.

Qatar and Turkey are bound by strategic relations at the political, economic and military fronts. But the Gulf country also shares a strategic partnership with the US, hosting a military base that serves as one of Washington’s most important overseas military bases with operations throughout the Middle East.

Turkey Minister of Finance and Treasury,  Berat Albayrak, to examine financial institutions and foreign exchange markets in order to take the drastic actions, if necessary to implement the Financial rules.  Treasury and Finance Minister Albayrak paid attention to the importance of independence in monetary policy and emphasized the importance of budget discipline:” Budget discipline constitutes the most important stance of our new economic approach. We set our targets.

We talked with all our institutions and ministers that we will not compromise for extra-budgetary expenses. Albayrak stated that they would look into the answer to 3 questions when evaluating their investments and expenditures and said: “Does it provide technological or high added value production? Is it increasing the export? Is it reducing the current deficit? we will prevail in the fields of economy. We care about this practice. No one’s doubt. We will come out victoriously with the support of our nationality, rational policies and a decisive stance and by Allah’s glace to emerge from this struggle. “



 


Author

Mr. Cemal Ozkus.

info@milanohomescyprus.com

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