Qatar agrees to purchase ten percent stake in Istanbul stock exchange
Qatar agrees to purchase ten percent stake in Istanbul stock exchange
Qatar and Turkey have signed a number of economic agreements.
2 min read
The Qatari emir and Turkish president met this week [Getty]
Qatar has agreed to purchase shares in Turkey's main stock market, part of a number of economic initiatives agreed between the two countries on Thursday.
Zafer Sonmez, CEO of the Turkey Wealth Fund (TWF) and Mansoor bin Ebrahim Al-Mahmoud, CEO of the Qatar Investment Authority (QIA) signed a memorandum of understanding in Ankara's presidential palace on Thursday giving Doha a ten percent stake in Borsa Istanbul, Daily Sabah reported.
It was one of ten new deals agreed between Qatar and Turkey on Thursday, and a sign of ever closer ties between the two regional allies.
It follows the sixth Turkey-Qatar Supreme Strategic Committee meeting, chaired by President Recep Tayyip Erdogan and Emir Sheikh Tamim bin Hamad Al-Thani.
The TWF purchased the European Bank for Reconstruction and Development's ten percent stake in the Istanbul stock exchange in 2019.
The TWF still has a 80 percent stake in the Borsa Istanbul, according to the Turkish daily.
Agreements were also reached in the transfer and sale of shares between Middle East Antalya Port Operators and Turkey's Global Ports to Qatar's Terminals WLL, according to Anadolu news agency.
A total of 62 agreements between the two countries have been signed in recent years, with relations strengthening after the Saudi-UAE led blockade on Qatar in 2016.
Trade between the two countries increased by six percent in 2020, reaching $1.6 billion according to the Turkish news agency.
Turkey also maintains a military base in the Gulf state.
Zafer Sonmez, CEO of the Turkey Wealth Fund (TWF) and Mansoor bin Ebrahim Al-Mahmoud, CEO of the Qatar Investment Authority (QIA) signed a memorandum of understanding in Ankara's presidential palace on Thursday giving Doha a ten percent stake in Borsa Istanbul, Daily Sabah reported.
It was one of ten new deals agreed between Qatar and Turkey on Thursday, and a sign of ever closer ties between the two regional allies.
It follows the sixth Turkey-Qatar Supreme Strategic Committee meeting, chaired by President Recep Tayyip Erdogan and Emir Sheikh Tamim bin Hamad Al-Thani.
The TWF purchased the European Bank for Reconstruction and Development's ten percent stake in the Istanbul stock exchange in 2019.
The TWF still has a 80 percent stake in the Borsa Istanbul, according to the Turkish daily.
Agreements were also reached in the transfer and sale of shares between Middle East Antalya Port Operators and Turkey's Global Ports to Qatar's Terminals WLL, according to Anadolu news agency.
A total of 62 agreements between the two countries have been signed in recent years, with relations strengthening after the Saudi-UAE led blockade on Qatar in 2016.
Trade between the two countries increased by six percent in 2020, reaching $1.6 billion according to the Turkish news agency.
Turkey also maintains a military base in the Gulf state.
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