Turkish – Qatari Business Leaders’ Summit began on the sidelines of Expo Turkey by Qatar in Qatar National Convention Center. The meeting will focus on exploring cooperation opportunities in trade.
There were a number of sessions on how to make economic gains in light of global changes. The sessions also explored investment opportunities in the private sector of Qatar and Turkey.
Vice Chairman of Qatar Chamber Muhammed bin Ahmed bin Twar said that bilateral ties reflect a spirit of cooperation and an intention to up cooperation in all fields, particularly in investments and trade.
He noted that bilateral trade tripled in recent years to close in on $1 billion. Qatari investments in Turkey grew to $18 billion, making Qatar the second biggest investor in Turkey. He added that there were plans to enhance cooperation in a number of sectors such as agriculture, industry, energy and tourism.
He added during the meeting that enhancing Qatari and Turkish investments will contribute to bringer the private sector of both countries closer, something that will boost investments even more. He then called on Qatari and Turkish businessmen to continue working together in order to have more partnerships, alliances, and joint projects that boost the economy of both countries.
Bin Twar highlighted that the Turkish economy’s great achievements in recent years was a unique experience that can be benefited from. He said that Turkey’s economy saw significant growth in recent years, bringing the Gross Domestic Product to $861 billion in 2016, a rise of $130 billion in nine years.
The Vice Chairman of Expo Turkey by Qatar, which is taking place in Qatar from April 19-21, is a reflection economic cooperation between Qatar and Turkey, noting that Turkey is the top investment destination for business owners in Qatar.
The Vice Chairman of Qatar Chamber Muhammed bin Ahmed bin Towar Al Kuwari said that Turkish companies have earned an international reputation for their quality in carrying out infra-structure projects in particular, adding that Turkish companies were playing a big part in implementing Qatar’s major infra-structure projects ahead of World Cup 2022.
The Vice Chairman of Qatar Chamber expressed his hope that bilateral trade volume increases in the coming period, particularly in light of the commitment of the countries’ leadership on supporting businessmen and investors in establishing partnerships that advances economic cooperation. He added that holding joint exhibitions and meetings plays a big role in realizing that commitment.
Trade volume between Qatar and Turkey increased significantly in the past four years. Turkish exports to Qatar four years ago were worth $250 million, rising by the end of 2016 to $440 million. Meanwhile, Qatar’s exports to Turkey increased from $525 million four years ago to $835 million by the end of 2015.
The constant efforts by both sides to develop trade ties have led to trade volume increasing 20 times in the past 10 years, reflecting the distinguished diplomatic ties between Qatar and Turkey. Bilateral trade volume is expected to reach $2 billion in the near future, in light of rate of increase trade relations. More than 150 Turkish companies participated in the Turkey Expo by Qatar with the aim of enhancing trade relations.
The expo aims to bring together Qatari and Turkish companies to cooperate, establish joint projects, and transfer knowledge and technology that would make the State of Qatar a trade gate for Turkey in the Middle-East and North Africa. Another goal for the Expo is to provide a platform for Qatari and Turkish businessmen to work together to achieve those goals. (QNA)
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