Turkish firms to play key role in FIFA 2022 countdown

DOHA: More Turkish and Qatari companies are expected to establish partnership at the upcoming ‘International Forum’ to be held in Turkey in October aiming to play major role in the run-up to the FIFA 2022 and beyond, said a top official of a leading Turkish business council.

Turkey, which is a trusted ally and strong economic partner of Qatar, is already having hundreds of Turkish companies operating in Qatar in almost every sector of the fast growing economy.

“More and more Turkish companies are joining hands and establishing partnerships with Qatari firms to expand economic cooperation and joint investment in new areas in both the economies and beyond,” Dr Ahmad Yabrudi (pictured), Head of the Middle East Businessmen Council, told The Peninsula on the sidelines of an event recently.

Dr Yabrudi added: “The number of Turkish companies operating in Qatar has grown to over 330, and this number is growing even while we are talking. We expect that at the upcoming business forum in Turkey, which both sides have agreed to organise in October this year, several new partnerships will be established.”He also noted that Qatar and Turkey are natural partners as both the economies are complementary in nature.

He said that the combined value of projects handled by Turkish companies in Qatar has crossed over $11bn which is set to grow significantly with the operation of new companies.

“Our economic relations are a win-win situation. A lot of Qatari companies and individuals are investing in Turkey’s promising sectors such as banking, finance and real estate. The QNB and Commercial Bank both have invested about $9.4bn acquiring two Turkish banks. And at the upcoming forum, more opportunities of investment will be introduced to Qatari companies,” said Yabrudi.

Asked about the challenges facing the businesses in expanding trade and economic cooperation, such as lack of cost effective and efficient transport and logistics facilities, he said that private companies and authorities from both sides are working to address these obstacles at the earliest.

“I am very optimistic about the further growth potential in bilateral trade and investment cooperation between Turkey and Qatar. Both sides have the zeal, enthusiasm and resources to find ways and viable solutions for these challenges,” noted Dr Yabrudi.

He also cited the example of the situation that cropped up after the war in Syrian which interrupted the movement of Turkish goods to Gulf States via Syria.

“I believe in the proverb, ‘where there is a will there is a way’. After the outbreak of the war in Syria, our Trucks found new way to Gulf States via Iraq and Iran and on RoRo ships. So trade and investment will continue to see sharp growth in the coming years,” he reiterated.

He also said that apart from real estate, finance and banking sectors, a lot of Qatari companies and individuals are investing to buy farmlands to grow food, livestock, poultry farms, and food processing facilities.

In addition, tourism is also among the most promising sectors where companies from both sides are forging partnership to boost tourism in the two countries.