Trade exchange between Qatar and Turkey in the past five years witnessed a “more than 100%” growth from “$900mn” in 2016 to “$1.91bn” in 2020, Qatar Chamber chairman Sheikh Khalifa bin Jassim al-Thani said.
Sheikh Khalifa made the statement during a meeting with Abdurrahman Kaan, the president of Turkey’s Independent Industrialists’ and Businessmen’s Association (MUSIAD), where both officials discussed ways to boost investments of both countries.
The meeting reviewed ways of boosting Qatar-Turkey commercial and co-operation relations, as well as investment opportunities available in both sides, including the possibility of establishing joint ventures between the private sector.
Addressing the meeting, Sheikh Khalifa praised the “distinct, close relations” between Qatar and Turkey, noting that these ties are “historic” and “based on understanding and mutual respect.”
Sheikh Khalifa also noted that there are hundreds of Turkish companies operating in the Qatari market under joint ventures with Qatari partners in various sectors, such as trading, contracting, services, and hospitality; he stressed that Turkey “is an attractive investment destination” for Qatari businessmen.
He also validated Qatari businessmen’s “strong desire” to invest in Turkey and to forge economic alliances with their Turkish counterparts, and to benefit from Turkey’s experience in establishing joint investments, especially in Africa, “which is full of feasible investment opportunities.”
On his part, Kaan emphasised the interest of MUSIAD to establish close co-operation ties with Qatar Chamber, and to develop mutual investments between businessmen from both countries.
Kaan also stressed the desire of Turkish businessmen to invest in Qatar in several sectors, referring to a study to establish a manufacturing factory for food products in Qatar under a “joint Qatar-Turkish capital” to promote their products not only in the Qatari market, but in markets of the Middle East region.