The Turkish Wealth Fund announced that Qatar invested in the Istanbul Stock Exchange by 10% against $ 200 million through the Memorandum of Understanding signed between Ankara and Doha on November 26, 2020.
The wealth fund added in a statement, on Monday, that it would still maintain an 80.6% stake in the Istanbul Stock Exchange, which was reported by Turkish media and translated by "Gulf Online."
He pointed out that the price of the deal was determined on the total capital value of the Istanbul Stock Exchange of $ 2 billion.
The CEO of the Turkish Wealth Fund, Zafar Sonmaz, said: “Obtaining 10% of the shares in the Istanbul Stock Exchange is the beginning of cooperation aimed at owning long-term fund assets between the two countries.”
The Turkish official believes that "this investment will contribute to developing the principles of corporate governance before the public offering of the Istanbul Stock Exchange in the medium term," adding that this investment has a special importance in terms of attracting foreign capital to our country during the Corona period, especially in light of global economic difficulties.
The Emir of Qatar, Sheikh Tamim bin Hamad Al Thani, the Turkish capital, made an official visit last Thursday, and President Recep Tayyip Erdogan received him at the White Palace in Ankara in a high-profile ceremony.
During the visit, Qatar and Turkey concluded 11 agreements in various fields, in addition to the Turkish sovereign wealth fund announcing the signing of a memorandum of understanding with the Qatar Investment Authority, which included the acquisition of 10% of the value of the Istanbul Stock Exchange.
Officials from both sides signed agreements in various fields, most notably: joint investment in the "Golden Horn" project in Istanbul, and joint promotion activities in free zones.
The agreements included the establishment of a joint economic and trade committee, cooperation in the field of water management, strengthening economic and financial cooperation, and cooperation in the areas of family, women and social services.
The last summit between the two leaders is the 28th in 70 months, which is a record in the history of relations between the two countries, and perhaps in the history of international relations, as 52 agreements and memoranda of understanding were reached between the two sides.
The Turkish-Qatari relations are witnessing a growing development and continuous cooperation at all levels, with the existence of great political harmony between the two countries and an agreement of views on many regional and international issues, especially in the Middle East region.
Turkey and Qatar are considered strategic partners that cooperate on many issues at the bilateral, regional and international levels, as bilateral relations have witnessed remarkable progress in recent years, in almost all fields.
No comments:
Post a Comment