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Qatari emir vows $15bn investment in Turkey after Erdogan meeting

Qatar pledges to make direct investment in Turkey, currently hit by currency crisis amid a diplomatic stand-off with US.


Wednesday August 15, 2018

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.

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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 discusses 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.



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