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Fri 18 Mar 2016 01:00 AM

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Qatar said to eye Turkish banking, agricultural investments

Qatar's ambassador to Turkey quoted as saying initial agricultural investment could be $500m

Qatar said to eye Turkish banking, agricultural investments

Qatar is reportedly in talks to buy stakes in a number of Turkish bank following a deal agreed by Qatar National Bank to buy Finansbank last year.

Turkish media quoted Salem Mubarak Shafi al-Shafi, Qatar’s envoy to Turkey as saying that the talks with Turkish banks are ongoing.

Qatar National Bank, the Gulf Arab region’s largest bank, agreed to buy Turkey’s Finansbank from the National Bank of Greece (NBG) for $2.95 billion in December.

The ambassador was also quoted as saying that Qatar is also keen on investing in Turkey's agricultural sector, with an initial investment reportedly about $500 million.

He added that Turkish businesses would be given priority for a planned stadium and other construction contracts in Qatar related to the 2022 World Cup.

Arguing that the oil plunge would not negatively affect Qatar’s investments, Al-Shafi also said Doha was targeting tourism investments in Turkey.

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