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Friday, October 22, 2021

Qatar finalises major $115mn Turkey port purchase


Doha and Ankara inked the purchase deal last October, adding to strong trade relations between the two countries.

QTerminals, Qatar’s leading terminal operating company, finalised the purchase of Turkish port, Port Akdeniz, on Tuesday.

The Antalya-based port was purchased by the Qatari terminal operator after signing a $115.15 million deal, which was signed between the Doha firm and Global Ports Holding [GPH], the world’s largest independent cruise port operator, in October last year.

According to GPH, Port Akdeniz is its largest commercial port concession.

“This move is fully aligned with our strategy to become a pure play global cruise port operator and we will continue to pursue growth and innovation in the exciting cruise port market,” said Emre Sayın, GPH’s CEO, said last year, commenting on the major deal.

Last year also witnessed more major Qatari investments in its ally Turkey in several sectors.

This includes the inauguration of the Al Doha QTS91 training warship at the Anadolu shipyard in Istanbul.

The ship is aimed to utilise the ship to enhance the training capabilities of the Qatari Navy.

Read also: Qatar inks $140 million deal to buy Antalya port

Meanwhile, trade volume between the two countries quadrupled in Q3 of last year, reaching $1.4 billion in comparison to $643 million in 2013. Moreover, Qatari investments in Turkey have also risen last year, reaching $22 billion.

In 2019, Turkish exports to Doha increased by 10% compared to the previous year, after 500 Turkish companies started operating in Qatar.

Both countries have been allies since 1972 and the relations between the two states are expected to continue on the same path, despite the end of the GCC crisis which began due to Qatar’s relations with Iran and Turkey.

Since the end of the GCC, Qatar’s Special Envoy for Counterterrorism and Conflict Resolution Dr. Mutlaq Al-Qahtani in a recent statement said Doha is open to mediating between Turkey and rival Saudi Arabia to ensure regional stability.

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