Qatar-Turkey trade volume reaches $1bn in 2017
January 10 2018 09:44 PM
Qatar Chamber vice chairman Mohamed bin Towar al-Kuwari and Turkish ambassador Fikret Ozer. PICTURES
Qatar Chamber vice chairman Mohamed bin Towar al-Kuwari and Turkish ambassador Fikret Ozer. PICTURES: Thajudheen

Qatar public and private sector investments in Turkey total $19bn in 2017

Turkish exports jumped 46% in 2017 to boost Qatar-Turkey trade volume from $750mn to $1bn, ambassador Fikret Ozer said.

Since Qatar’s energy exports to Turkey “improved” last year, Ozer said he hopes that trade volume between the two countries would reach $2bn in 2018 by intensifying mutual cooperation.

Speaking to reporters on the sidelines of a networking event in Doha, Ozer said Qatari public and private sector investments in Turkey stood at $19bn in 2017, “and are still increasing.” Qatari investments in Turkey are spread in the real estate, telecommunication, banking and finance, and IT sectors, the ambassador said.

The networking event, which included B2B sessions, was attended by 21 Turkish companies in the furniture industry, including a number of Qatari businessmen and representatives of several Qatari companies.

Ozer noted that many Turkish companies in various sectors, specifically in building materials and construction, “are keen on visiting Qatar” to explore investment opportunities in the country.

Next week, Ozer said, the embassy will open the second edition of Expo Turkey at the Doha Exhibition and Convention Centre in which more than 160 Turkish companies are expected to participate. Turkey’s ministers of economy and environment are expected to attend the event, he noted.

Addressing the event, Qatar Chamber vice chairman Mohamed bin Towar al-Kuwari said the chamber “is keen to activate reciprocal visits” between Qatari and Turkish businessmen to discuss possible partnerships and joint ventures between both sides.

“More than 200 companies in a number of industries are operating in Qatar. In addition, the projects carried out by Turkish contracting companies in the state of Qatar increased to $11.6bn, most of which are part of the 2022 World Cup projects. Qatari investments in Turkey are valued at $20mn,” al-Kuwari said.

Bursa Metropolitan Municipality mayor Alinur Aktas told reporters that businessmen in Bursa “are keen on exploring the investment opportunities in Qatar and to expand cooperation with the Qatari business community.”

Aside from the furniture sector, Aktas said, Bursa is known for its the textile, agriculture, tourism, and automation industries. He noted that it is possible for furniture companies in Bursa to open showroom and manufacturing facilities in Qatar “once the opportunity presents itself.”

He also stressed that the maritime route between the Hamad Port and the Port of Izmir, which was opened last year “is a very important advantage,” and would serve as “a major instrument to improve international trade.”

Citing Bursa’s 3mn population, Aktas said, “Qatar is a strategic country because it is constantly developing. If we can establish close ties between Qatar and Bursa City, both sides will benefit.”

Mobiliyum Furniture Mall chairman Talha Timur Han said the company is open to opportunities to establish Turkish furniture manufacturing facilities in Qatar.

“But for now Mobiliyum, which is the largest furniture mall in Turkey’s European side, wants to tap the investment potential of the Qatari market. We would also like to invite Qatari investors to visit our mall in Turkey so they could see the quality and craftsmanship of our furniture,” said Han, who added that the mall is targeting the high-end segment of the Qatari market.

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