+ A
A -
Tribune news network
Doha
The Qatar Financial Centre (QFC) has signed a memorandum of understanding (MoU) with Istanbul's real estate developer Akdeniz Insaat ve Egitim Hizmetleri (Agaoglu Group), the entity responsible for construction of the infrastructure of Istanbul International Financial Centre (IIFC).
QFC Authority CEO Yousuf Mohamed al Jaida, and Agaoglu Group Chairman Ali f1'ddbrahim Agaoglu, signed the agreement in Doha, a press statement said on Wednesday.
The MoU will boost efforts to develop and improve legal and regulatory frameworks between Istanbul Financial Centre and QFC, the statement added.
The signing came following a recent visit by a delegation from Agaoglu Group to Doha.
The visit saw the delegation conduct high level meetings with senior officials from the QFC. They were also given a tour of the QFCf0's current premises and were taken to Doha's new integrated financial city, Msheireb Downtown Doha.
The agreement will provide a host of benefits including proactively exposing Turkish financial and professional services firms to the QFC, and to provide Agaoglu with similar support as far as institutions based in Qatar are concerned.
Furthermore, both entities will aim to organise joint seminars and conferences on topics of mutual interest to Qatar and Turkey, as well as facilitate meetings with business delegations to promote their mutual interests.
.Jaida said,"This agreement helps bring together two regional powerhouses to ensure the continued development and growth of the region, and further clarifies the importance of the bilateral relations between Qatar and Turkey."
He further said,"There are over 200 Turkish companies operating in Qatar with many joint ventures between Turkish and Qatari business people. This is a figure we anticipate will increase, and the QFC platform is one avenue that will help bring more Turkish companies to Qatar."
Agaoglu chairman said,"Qatar is one the most important strategic partners of Turkey in the region, in terms of trade and investments, who believed in the future growth and potential of Turkey.
"Agaoglu is the largest real estate developer in Turkey which has developed more than 35,000 residential and commercial units since 1981. We are also the key actor in the development of Istanbul International Financial Centre which is approaching to its final stages of completion.
"QFC is a very good example of a modern and effective financial centre structure and thanks to their interest in IIFC, we are now proud to execute this MoU with them which we believe will establish the basis of a solid strategic partnership between IIFC and QFC."
QFC CEO and Sheikha Alanoud bint Hamad al Thani, Managing Director, Business Development at QFC Authority recently met with investors from Ankara and Istanbul who are looking to expand into Qatar.
The QFC officials also met with Turkish government officials including Nihat Zeybek?§i, Minister of Economy & Commerce. These meetings came as part of the QFC's efforts to promote Qatar as a lucrative destination for Turkish companies.
Turkish companies have undertaken 128 projects worth $14.2 billion in Qatar .
Qatar will invest $19 billion in Turkey in 2018.
