Baku, Azerbaijan, June 29
By Rufiz Hafizoglu – Trend:
Qatar may suspend all projects with several countries the Cooperation Council of the Arab States of the Persian Gulf (Gulf Cooperation Council), the Qatari media outlets reported June 29.
According to the reports, such a decision is related to unfounded accusations with regard to Qatar by several Arab states led by Saudi Arabia.
Egypt, Saudi Arabia, Bahrain and the UAE announced about breaking their diplomatic relations with Qatar June 5, accusing Doha of supporting terrorist organizations and destabilizing the situation in the Middle East.
Later, the authorities of Libya, Yemen, as well as the Maldives and Mauritius also announced about severing diplomatic relations with Qatar.
“Qatar is largely interested in joint projects with Turkey. Such sectors as construction, medicine and pharmaceutics can attract Turkish investors,” the Qatari media outlets reported. “It is also expected to create a free economic zone between Turkey and Qatar.”
Total volume of Qatar’s investments in the world amounts to $335 billion, while the country’s investments in Turkey total $18 billion.
Qatar has acquired a number of large companies and banks in Turkey since 2015, such as QNB Finansbank, ABank, Digiturk, BMC and Boyner.
Total volume of Turkish investments in Qatar reaches $14.2 billion. The Turkish companies are engaged in implementation of about 130 projects, including the subway construction in Doha, the cost of which is $4.4 billion.
Trade turnover between Qatar and Turkey amounted to $692 million in 2016.
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