The trade volume of Qatar and Turkiye stood at QR8.1bn in 2022, an official of Qatar Chamber announced during the Qatar-Turkiye Trade Delegation and B2B Meetings held in Doha Monday.
Qatar Chamber first vice-chairman Mohamed bin Towar al-Kuwari made the statement in the presence of Turkish Minister of Trade Ömer Bolat, Ministry of Commerce and Industry undersecretary Sultan bin Rashid al-Khater, and Qatar Chamber board member Shaheen bin Lahdan al-Mohannadi.
Also attending the event were Turkiye Exporters Assembly (TIM) chairman Mustafa Gültepe and Turkish ambassador Dr Mustafa Goksu, including businessmen from both countries.
In his remarks, al-Kuwari praised the “deep-rooted and developed relations” between Qatar and Turkiye, noting that these are linked by “strong and fast-growing” economic and commercial ties, and “supported by the convergence between the leadership in both countries and the mutual visits at high levels.”
The bilateral trade volume of both countries reached QR8.1bn last year or an 18% year-on-year increase from QR6.8bn, making Turkiye “one of Qatar’s most significant trading partners,” al-Kuwari said.
Al-Kuwari attributed this surge in trade volume to the developed relations between both countries, especially with the presence of direct maritime lines, a number of signed agreements, and the abundance of mutual investments on both sides.
As for mutual investments, he noted that there are many Turkish companies operating in Qatar, either with full Turkish capital or in partnership with Qatari counterparts, across various sectors, including trade, contracting, construction, healthcare, services, and more.
“In Turkiye,” al-Kuwari said, “there are many Qatar investments in diverse sectors like real estate and tourism, among others, affirming that Turkiye is an attractive investment destination for Qataris and that Qatari businessmen are keenly interested in investing in Turkiye and establishing commercial alliances and joint ventures with their Turkish counterpart.”
Al-Kuwari also invited Turkish companies to increase their investments in Qatar, which provides an attractive investment environment, advanced infrastructure, and leading economic legislation, as well as incentives and facilities offered by the government.
Qatar hosts a range of “promising opportunities” available in its free zones, al-Kuwari noted, adding that Qatar Chamber supports co-operation and partnerships between both sides, highlighting that the chamber encourages Qatari investors to direct their investments towards Turkiye, “which offers tremendous opportunities and an attractive investment climate.”
Bolat, on the other hand, congratulated Qatar for hosting the Doha International Horticultural Expo 2023, noting that there are 130 businessmen participating in the Turkish pavilion to review vistas of co-operation with their Qatari counterparts.
The minister also lauded the distinguished relations between Qatar and Turkiye, noting that these strategic relations cover all fields, especially the economic and commercial spheres. He said there are 720 Turkish firms working in Qatar in various fields and about 120 Qatari firms operating in Turkiye with successful investments.
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