Qatar Post has acquired an additional 40% stake in e-commerce platform Turkish Souq, a JV it established with Turkish postal service PTT in 2018, Doha News reports, citing Turkish daily Hurriyet. The reports did not clarify the size of the stake Qatar Post now has in the JV or the value of the transaction. However, the JV was previously “owned equally” between PTT and Qatar Post, according to an earlier Qatari Transport Ministry statement.

The move follows Turkish President Recep Erdogan’s recent visit to Qatar as part of his tour of Gulf nations, which also included Saudi Arabia and the UAE, and aimed at fostering economic collaborations and attracting investments.

About Turkish Souq: The e-commerce platform sells a range of Turkish goods, including furniture, clothing, sports equipment, and beauty products, to over 50 countries across the world, according to the ministry statement.

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