Qatar is a tiny but smart country. It wealth was and is mainly made by their profits from the oil and natural gas industry. But that’s not why Qatar is rich its because it reinvests its money in profitable sectors.
While Qatar is still in a diplomatic blockade this situation has not stopped it from directing their investments away from the crisis. Thanks to the blockade Qatar now sees investment opportunities in other regions which it previously never considered.
Sheikh Abdulaziz bin Ahmad Al-Thani, chairman of Qatar’ biggest contractor, has said that trade with Turkey will reach new heights as the crisis in the region likely to be dragged.
“Turkey and Turkish-based companies will the first priority in all of our projects” from now on, Sheikh Abdulaziz told Turkish daily Hurriyet on June 28, suggesting Qatar will scale down trade with the blockading countries in the GCC.
“I seriously think there will be more investment in Turkey, our doors are open wide to Turkish companies. There are plenty of business opportunities for both countries now and this needs to be utilised,” the member of the Qatari royal family, who sits on the board of directors of Sharaka Holdings, said.
Sheikh Abdulaziz also said that Qatar will become a centre for Turkish products and added that an economic zone for Turkish business could be set up in Qatar.
Qatar is one of the largest investor in Turkey with the investments of more than $20 billion. Turkish analyst Oktay Yilmaz, expects the volume of trade between the two countries to increase by $ 5 billion annually.
“Qatar has been able to overcome various challenges in terms of exports and the operations at its ports and airport and maintained the development and growth of all economic sectors,” the minister said.
“Qatar is one of the largest producers and exporters of natural gas in the world and has the world’s largest fleet of LNG carriers.
Qatari businessmen aspire to strengthen trade relations with their Omani counterparts and sign long-term agreements to establish co-operation in various trade sectors to ensure increased trade and smooth flow of goods between the two countries over the long term, Qatar Chamber (QCCI) has said in a statement.
Speaking at a business meeting with Qatar Chamber officials, Zubair Corporation CEO C S Badrinath said the company has three projects “based on partnerships between Qatari and Omani businessmen, which are expected to be launched soon.”
“The first project involves water production and distribution under the brand ‘Oasis Qatar’; production will be within two months. The second is a factory for electrical transformers, while the third is a factory for petrochemicals,” said Badrinath, who was part of a trade delegation from Oman that met with Qatar Chamber vice chairman Mohamed bin Towar al-Kuwari and board member Mohamed bin Ahmed al-Obaidli.
Qatar Chamber officials held meetings in Islamabad with representatives of the Federation of Pakistan Chambers of Commerce & Industry with a view to underpinning trade relations between both countries, according to a statement issued by the Chamber.
It was agreed that the holders of diplomatic, special and official passports of the two countries will be to travel without visa between the two countries. Following the talks between Prime Minister Narendra Modi and his counterpart Sheikh Abdullah Bin Nasser Bin Khalifa Al Thani, the agreements were signed on visas, cyberspace and investments.
“Four Forward! The leaders witness exchange of four agreements in the fields of visas, cyberspace and investments,” External Affairs Ministry spokesperson Vikas Swarup tweeted.
A letter of intent was also signed to negotiate agreement on grant of e-visa to businessmen and tourists of the two countries.