‘Turkiye and Qatar to enter into comprehensive trade, economic pact by year-end’
Turkiye and Qatar are expected to enter into a comprehensive trade and economic agreement by the end of this year, which would stimulate and strengthen the bilateral commercial relations between the two countries.
This was disclosed by Turkiye Minister of Trade Dr Omer Bolat as he unveiled the Ankara’s pavilion at the Expo 2023 Doha.
The pavilion – one of the largest settlement areas of expo, covering an area of 1,024sq m – aims to promote environmentally friendly and environmentally sensitive approaches to agriculture, development, and technological advancement. It showcases Turkiye’s biodiversity, plant cultivation richness, plant cover, natural and geographical features.
Attaching great importance to enhancing its trade relations and economic cooperation with Qatar, with which it has deep-rooted friendship bonds; he said “we are continuing our efforts to further advance the bilateral trade volume, which reached $2.3bn in 2022.” Turkiye’s exports increased by 30.7% to $1.5bn dollars in 2022, while imports decreased by 8.6% to $773mn, he said in the presence of O Volkan Agar, deputy minister of trade; M Mustafa Goksu, Turkish ambassador in Doha; and Ali Kilickaya, director general of exports.
Optimistic that the bilateral economic relations have the potential to reach higher growth trajectory in the coming years; he said a comprehensive trade and economic agreement would be signed by the end of this year, which would stimulate investments flows (both ways) between the two countries.
The proposed agreement would abolish customs duty, he said, adding it would augur well for trade and investments.
Stressing that as many as 130 Turkish businessmen participating in the Turkish pavilion to review vistas of co-operation with their Qatari counterparts; the visiting minister said “we will like to work together” as he expect the expo to be fertile ground for co-operation.
“We see this (expo) as beginning” (of strengthening the relations between the two countries in the agricultural sector, he said. Bolat said there are 720 Turkish firms working in Qatar in various fields, and about 120 Qatari firms operating in Turkiye and have successful investments.
According to Qatar Chamber, the two countries’ bilateral trade volume reached QR8.1bn in 2022, showing an 18% annual increase, making Turkiye one of Qatar’s most significant trading partners.
Qatari companies, with $9.9bn in direct investments in Turkiye since 2002, demonstrate the importance of investment relations between two countries, he said, adding big Qatari funds have invested in Turkiye’s large big projects amounting to $19bn.
“We are doing our best (from both the sides) to stimulate bilateral investments into Turkiye and into Qatar in the near future,” according to him.
He said the potential areas where Turkiye and Qatar could collaborate further in mutual investments are in the areas of tourism, banking and financial services, renewable energy, transportation, environmental protection, information technologies, construction, and consultancy.
This was disclosed by Turkiye Minister of Trade Dr Omer Bolat as he unveiled the Ankara’s pavilion at the Expo 2023 Doha.
The pavilion – one of the largest settlement areas of expo, covering an area of 1,024sq m – aims to promote environmentally friendly and environmentally sensitive approaches to agriculture, development, and technological advancement. It showcases Turkiye’s biodiversity, plant cultivation richness, plant cover, natural and geographical features.
Attaching great importance to enhancing its trade relations and economic cooperation with Qatar, with which it has deep-rooted friendship bonds; he said “we are continuing our efforts to further advance the bilateral trade volume, which reached $2.3bn in 2022.” Turkiye’s exports increased by 30.7% to $1.5bn dollars in 2022, while imports decreased by 8.6% to $773mn, he said in the presence of O Volkan Agar, deputy minister of trade; M Mustafa Goksu, Turkish ambassador in Doha; and Ali Kilickaya, director general of exports.
Optimistic that the bilateral economic relations have the potential to reach higher growth trajectory in the coming years; he said a comprehensive trade and economic agreement would be signed by the end of this year, which would stimulate investments flows (both ways) between the two countries.
The proposed agreement would abolish customs duty, he said, adding it would augur well for trade and investments.
Stressing that as many as 130 Turkish businessmen participating in the Turkish pavilion to review vistas of co-operation with their Qatari counterparts; the visiting minister said “we will like to work together” as he expect the expo to be fertile ground for co-operation.
“We see this (expo) as beginning” (of strengthening the relations between the two countries in the agricultural sector, he said. Bolat said there are 720 Turkish firms working in Qatar in various fields, and about 120 Qatari firms operating in Turkiye and have successful investments.
According to Qatar Chamber, the two countries’ bilateral trade volume reached QR8.1bn in 2022, showing an 18% annual increase, making Turkiye one of Qatar’s most significant trading partners.
Qatari companies, with $9.9bn in direct investments in Turkiye since 2002, demonstrate the importance of investment relations between two countries, he said, adding big Qatari funds have invested in Turkiye’s large big projects amounting to $19bn.
“We are doing our best (from both the sides) to stimulate bilateral investments into Turkiye and into Qatar in the near future,” according to him.
He said the potential areas where Turkiye and Qatar could collaborate further in mutual investments are in the areas of tourism, banking and financial services, renewable energy, transportation, environmental protection, information technologies, construction, and consultancy.
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