How global financial centers can help combat the COVID-19 pandemic

22 4月 2020

Doha, Qatar

The Qatar Financial Centre, one of the world's leading and fastest growing onshore business and financial centres, attended the fourth Turkish Capital Markets' Summit in Istanbul, Turkey.

 

The annual flagship event of the financial markets in Turkey brings together regulators, exchanges, market professionals, academics and international and domestic investors to facilitate coordination and contribute to the development of its capital markets.

 

In addition, Yousuf Mohamed Al-Jaida, Chief Executive Officer, QFC took part in a panel discussion entitled: 'The Story of Transforming a City to a Financial Center'. Moderated by Mark Howarth, Market Structure and Strategy Director, at Bloomberg, high-level executives on the panel included: Farah Jaafar-Crossby, CEO, Labuan Finance Center; Dr. Kairat Kelimbetov, Governor, Astana International Financial Centre, and Serkan Yüksel, Director of Istanbul Finance Center. 

 

During the session, Yousuf Mohamed Al-Jaida discussed the opportunities that are attracting companies to set up business in Qatar, for which the QFC provides an ideal platform. Businesses gain access to a robust local market, as well as regional markets worth USD $2.1 trillion which includes Turkey, Kuwait, Oman and Pakistan (under the New Emerging Belt Initiative).

 

Yousuf Mohamed Al-Jaida, Chief Executive Officer, QFC Authority 


The first lesson is that all the countries are concerned all around the world and therefore we are in the same boat: to maximize the chances to win this war we must share and work together. A second lesson is that we have to reconsider our economic models and give a new priority to long term perspectives and sustainable economy, it means environmental and social issues. It is the essence of WAIFC to contribute to these new goals and long term partnerships.

The QFC's participation and attendance in the Summit is aligned to its commitment to strengthen bilateral relations with Turkey's business community, as well as facilitate access to investment opportunities in Qatar's market through the QFC business platform, which currently has seven Turkish companies registered. 

 

Qatar and Turkey continue to enjoy robust bilateral relations and the combined value of their trade exchange hit $2 billion in 2018, registering a sharp jump of around 54% compared to 2017. A commercial and economic partnership agreement signed between the two countries in September 2018 aims to expand such cooperation by promoting trade exchange and easing restrictions on investments, among other areas. Turkish companies are handling projects worth over $11.6 billion in Qatar, most of which are geared towards preparations for the 2022 FIFA World Cup Qatar.