With the economic crisis created by the palace power within society, energy was privatized. The sectors of telecommunication, tourism, food, health, insurance, defence, banking and shipyards were sold to Qatar.
While the AKP government aims to feed terrorist organisations and overcome the present economic slump it has dragged the country in with the Qatar investments; Qatar, on the other hand, aims to gain full control of energy in Cyprus and the eastern Mediterranean.
While Qatar participates in natural gas exploration activities with the Republic of Cyprus in the Eastern Mediterranean, the reason why the Turkish state remains silent is quite simply because the mentioned investments line the pockets of the AKP-MHP government.
Qatar has a total investment of 18 billion dollars in different sectors in the Turkish state. In 2018, it decided to invest a total of $19 billion. Yet Qatar’s Turkish state affiliations are not new. They entered the Turkish banking sector with Akbank, then quickly bought Finansbank with the QNB. Then beIN, and Digiturk… About 2.75 billion euros were paid for Finansbank, 1.4 billion dollars for Digiturk. Partnerships were made with Boyner, BMC and many other brands. In addition,
Regarding the investments to be made, the Qatar Investment Authority disclosed a generous $15 billion while a private company, Q Invests, put aside a further $ 4 billion. Both investments authorities are said to target the energy, telecommunications, tourism, food, health, insurance, defence, banking and shipyard sectors.
Erdogan sells key economic areas to Qatar
Moreover, with the fifth High Strategic Committee meeting held in Doha on November 25, 2018, the agreements signed by Erdoğan and Emir of Qatar, Sheikh Tamim Bin Hamad Al Sani, aim to improve cooperation in the fields of urbanism, trade, finance, investment and technology. Under this agreement, the Turkish state will earn an estimated $5 million.
Qatar will further increase its investments in the Turkish state and accelerate the flow of hot money to the AKP government, it has shared, making Qatar’s biggest investment the palace power.
According to the Swap Agreement signed on 25 November between the central banks of the two countries with the aim of facilitating trade in local currencies and supporting financial stability, central banks will have Turkish Lira and Qatari Rial in their safes with an amount corresponding to $5 billion. In 2018, this amount was $3 billion.
Qatar exports $335 million to the Turkish state
In general, the trade volume between the two countries remained at $ 1.4 billion in 2018. The Turkish state’s exports to Qatar jumped from $650 million in 2017, to $ 1.1 billion in 2018. During the same period, Qatar’s exports to the Turkish state increased from $264 million to $335 million. With this increase, Qatar ranks 39th among the countries which export to the Turkish state.
The Turkish construction sector, which has done business worth $17 billion with Qatar to date, has sought for infrastructure and superstructure projects on the agenda within the framework of the 2022 World Cup and the 2030 Qatar National Vision.
Finally, the fact that the mother of Sheikh Tamim bin Hamit al-Sani, the Emir of Qatar, established a company in the Turkish state and bought 44 acres of land in Arnavutköy on the route of Kanal Istanbul has created a big controversy.
Of the 100,000 shares of the company, approximately 45.45 per cent is owned by Sheikh Moza, while 31.82 per cent is owned by the Qatar former deputy prime minister Abdullah bin Hamid al-Attiyah’s wife Munire bin Nasir al-Misned. A remaining 22.73 per cent majority share is owned by Shanna Nasir al-Misned.
Obtaining Cyprus and the eastern Mediterranean is Qatar’s energy plan
Qatar wants to establish its own domination in the Turkish state in the economic field. This is Qatar’s first goal, and its second and most important goal is that it wants to obtain energy in Cyprus and the Eastern Mediterranean.
Here, Qatar follows its own agenda in the Mediterranean energy fight. While Qatar participated in natural gas exploration activities with the Republic of Cyprus in the Eastern Mediterranean, chauvinist Erdoğan ignored this issue which would otherwise create a legal basis for intervention.
Qatar made statements in support of the Turkish state in the occupation operation started by the AKP-MHP government in northern Syria and Rojava on 9 October. One of the most important reasons for these explanations is the aim of achieving Qatar’s targets.
Turkey’s economic investment in Qatar:
- Finansbank: In 2015, Finansbank acquired 99.81 per cent of its shares for a total price of 2.75 billion euros.
- Digitürk: Qatar’s beIN Media Group, acquired a Turkish Pay-TV platform managed by the Savings Deposit Insurance Fund (SDIF). The purchase figure of Digiturk is estimated to be around $ 1.2 billion.
- Akbank: Commercial Bank of Qatar acquired 71 per cent of Akbank in 2013 for $460 million. At the end of 2016, it paid another $224 million and acquired all shares of Akbank.
- Banvit Poultry: 79.5 per cent of Banvit, which is among the largest in the Turkish poultry sector, was transferred to TBQ Foods, a Brazilian-Qatar partnership.
- Boynek Group: Qatar-based Mayhoola fund acquired a 30.7 per cent stake in Boyner Group for $ 885 million. Among the stores owned by the Boyner Group are Altınyıldız, YKM, Ay Marka, Beymen and Boyner Büyük Mağazacılık.
- Ankas: Ankara-based Ankas, which operates in the fields of construction, infrastructure and engineering, was taken over in April 2017 by Hamad Bin Khalid of Qatar.
- BMC: 50 per cent of BMC, the automotive giant established in Izmir in 1964, was sold to the Qatar Armed Forces Industrial Committee in 2017.
- Ergo Portföy: Qatar’s QInvest, one of the Islamic financial institutions, acquired Ergo Portfolio in 2016. After the acquisition, the name of Ergo Portfolio was changed to Qinvest Portföy.
- Mansion on the Bosphorus: 2015 Turkey’s most valuable mansion, the Prince Burhanettin Efendi Mansion, was bought for 100 million euros. But these are just the visible faces of the coin.
Negotiations are also being held in Istanbul regarding two hotels worth approximately $1 billion. While city hospitals are at the center of Qatar’s attention, they are also in talks with companies that produce RO-RO ships. Qatar’s agricultural investment firm Hassad Food has made certain that it invested $ 650 million in agriculture and animal keeping in 2018.
Qatar also has partnerships with many companies of the Turkish state around the world. The leading companies are Qatari companies with 5% to 50% shares of brands like Shell and Total, Clothing giants like Marks & Spencer, Louis Vitton, Valentino, Italian car giant Porsche. Likewise, many Turkish hotels are owned by Qatar.
121 Qatari capital companies have been operating in Turkey
The Turkish state has experienced a major crisis from an economic perspective. With the decision of Qatar to invest $15 billion in Turkey’s Istanbul, transfers have been made of the historic city, being sold acre by acre to Qatar.
121 Qatar-based companies operate in different cities of the Turkish state. Qatar.
Finally, with a presidential decree, 58.5 per cent of the General Directorate of Foundations the Vakıfbank was transferred to the Treasury. Following this decision, there is a claim that the Treasury will sell all or part of its shares in Vakıfbank to Qatar in the new year.
While the AKP government will try to meet a portion of the budget deficit that will increase in 2020 with the income to be obtained from it, it is certain that the majority will be invested in war.
