Minister Bolat: Qatar’s investments in Turkiye exceeded $20 billion

Minister of Commerce Omer Bolat stated that 220 Qatari companies have undertaken important projects in Turkiye and said, “Qatar’s investments in Turkiye have exceeded $20 billion.”

Turkiye-Qatar Trade Delegation and bilateral business meetings, organized by the Turkish Exporters Assembly (TIM) under the coordination of the Ministry of Commerce, were held in Doha, the capital of Qatar.

Speaking at the opening of the meeting, Bolat stated that they came to Qatar with a large delegation on the occasion of the opening of EXPO Doha 2023, and said that Qatar will host one of the most prestigious organizations in the world, such as EXPO, after the World Cup organization.

Stating that a strong trade delegation came from Turkiye to open the Turkish pavilion at EXPO, Bolat continued as follows:

“We are here to introduce Turkiye to hundreds of thousands of guests from all over the world. We also organized a trade delegation. This was our third trade delegation this year. We were here with the natural stone exporters delegation in March. We came here with the defense industry fair. We were here in July with 200 business people under the chairmanship of our President. We are here today with the organization of TIM. Nearly 300 Qatari business people are participating in our program. This is also a pleasure.”

Thanking Qatar for the helping hand it extended after the earthquakes in Kahramanmaras, Bolat said, “Turkiye and Qatar are not only friends, neighbors and brother countries, but also strategic partners. Under the leadership of our leaders, we have been maintaining our excellent political relations in the fields of economy, trade, investment and contracting services and tourism in recent years. We also develop joint projects in third countries.”

Bolat mentioned that the trade volume will increase with the recently signed trade agreements between Turkiye and Qatar and said, “With this agreement, we believe that our mutual trade and investments, which are currently $2.3 billion, will increase even more. There are serious investments from Turkiye to Qatar, 727 Turkish companies do business in Qatar. 220 Qatari companies have undertaken important projects in Turkiye. Qatar’s investments in Turkiye have exceeded $20 billion.”

Stating that Turkish contractors have undertaken major projects in the development of Qatar’s infrastructure and superstructure and have successfully completed services worth $18-$19 billion, Bolat added that Turkiye and Qatar are also cooperating in the Development Road Project.

“Close political relations enable us to strengthen commercial cooperation.”

TIM President Mustafa Gultepe stated that they came to Doha with a delegation of 115 people, including 61 representatives from 53 exporting companies, and stated that the delegation represented all 27 exporting sectors. Stating that the friendship between Turkiye and Qatar has been tested many times and that today there are strong ties beyond friendship between the two countries, Gultepe said, “Our exports to Qatar have increased 6 times in the last 10 years. 10 years ago, our share in Qatar’s imports was 1%. Today, the rate has reached 4.5%. Last year, we exported $1.5 billion to Qatar.”

Gultepe stated that strengthening exporters’ existing collaborations abroad and enabling them to meet with potential buyers are among their primary duties, and added:

“We are experiencing a period where trends in global trade are changing. Close supply, trade with friendly countries and regionalization are becoming more important day by day. Turkiye offers a strong partnership to its immediate surroundings with its identity as the most important production center of the region. Our economic structure, which is compatible with Qatar, contains important opportunities for both parties. I think we should make the best use of this period when the conjuncture is in our favor.

Last year, 5,050 of our companies exported $1.5 billion to Qatar. All 27 of our sectors exported to Qatar. Last year, we recorded an increase in the exports of 18 of our sectors. Our exports reached $290 million in the defense and aerospace sector, $177 million in the furniture sector, and $124 million in the electrical and electronics sector. We observe that there are serious opportunities in the machinery, electricity, jewelery and precious metal goods and automotive sectors.”

Gultepe stated that close political relations between governments enable them to strengthen commercial cooperation, and added that they see trade delegations as one of the most important tools to develop cooperation.

Source: Trthaber / Prepared by Irem Yildiz

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