Qatar’s Emir Tamim bin Hamad al-Thani flew to Turkey on Wednesday in a show of support of his ally as Ankara grapples with a currency crisis and a political row with the United States.
During his visit, the Qatar Emir promised to make a $15 billion investment in Turkey amid Ankara's widening diplomatic standoff with the United States, a Turkish presidential source said.
Sheikh Tamim bin Hamad al-Thanisaid Doha “will make a 15 billion dollar direct investment in Turkey,” the source added.
The announcement came after the emir held lunchtime talks with Turkish President Recep Tayyip Erdogan.
Earlier, Turkish media reports hinted that Turkey had been “frustrated” with Qatar for being silent on the crisis.
State media in Doha said Sheikh Tamim was travelling to Turkey for a "working visit."
A Qatar News Agency statement said the emir "will discuss with the Turkish president bilateral relations and means of strengthening the existing strategic cooperation between the two countries in various fields," said .
In a now-deleted report published on Tuesday, daily newspaper Takvim said that instead of supporting Ankara, Qatar had chosen to remain silent about what is happening in Turkey, although the latter was quick to support Doha during the Arab Quartet’s boycott.
The newspaper recalled what it described as “the great Turkish support” offered by Ankara to Doha at various levels following the Arab boycott who believe that Qatar is “supporting terrorism and interfering in the affairs of other countries and fostering relations with Iran.”
The newspaper stated that Turkey has sent dozens of cargo flights to Qatar and has stood side by side with Doha during the boycott.
Turkey has been rocked in recent days by a sharp decline in the value of its lira after US President Donald Trump tweeted last Friday that Washington was doubling aluminum and steel tariffs for Ankara.
Washington's move came during an ongoing dispute over Turkey’s holding of an American pastor for two years. In response, Erdogan has called for a boycott of US electrical goods.
It is believed many Qatari investors could be at risk from a Turkish economic crisis.