Trade Minister Bolat met with Ahmed bin Mohammed Al-Sayed, Qatar’s Minister of State for Foreign Trade, at the Ministry. Following the meeting, Bolat said that, under the leadership of President Recep Tayyip Erdoğan, Türkiye was acting in solidarity with the countries of the region in response to the effects of the war that began in the Gulf on regional countries and the global economy.
Türkiye-Qatar trade target set at $5 billion
Bolat said they attached importance to the Qatari delegation’s visit and noted that Türkiye-Qatar relations had developed significantly over the past 21 years. He said the annual foreign trade volume between the two countries had risen to $1.3 billion last year, adding that it had reached as much as $2.5 billion in 2022 due to construction work carried out in preparation for the World Cup held in Qatar.
Bolat said the two countries aimed to increase bilateral trade to $5 billion and noted that the Türkiye-Qatar Trade and Economic Partnership Agreement, which entered into force last year, would make a significant contribution to mutual trade.
Activities of Turkish companies in Qatar
Bolat announced that Turkish contractors had undertaken a total of $21 billion worth of work on 206 projects in Qatar. He said Turkish and Qatari investors conducted business with each other and formed partnerships.
Bolat said approximately 250 Qatari companies in Türkiye had an investment volume of $7.8 billion, adding that these investments were concentrated in areas including finance, banking, energy, logistics, broadcasting and agriculture.
Bolat said approximately 1,116 Turkish companies of small, medium and large scale were operating in Qatar. He noted that these companies were active in construction, services and some manufacturing sectors, adding that approximately 50,000 visits were made annually in each direction between Türkiye and Qatar in tourism and that relations in the transport sector were also in good shape.
Alternative transit routes on the agenda
Bolat said the closure of the Strait of Hormuz because of the war in the region had caused bottlenecks in logistics and supply, adding that Türkiye was working to meet the demand for consumer goods in Qatar and other Gulf countries.
Bolat said alternative routes were needed to reduce dependence on maritime transport and the Strait of Hormuz. He noted that, under the transit transport agreement with Saudi Arabia, Turkish carriers had been conducting intensive transit transportation via Syria, Jordan and Saudi Arabia since April 15, as well as along the Türkiye-Iraq-Saudi Arabia-Gulf countries route.
Bolat said they would work together to make transit and trade corridors stronger and more stable. He said they welcomed the Qatar Investment Fund’s desire to make more investments in Türkiye and its initiatives in that direction.
Emphasis on the High Strategic Committee in relations
Bolat said Türkiye-Qatar relations continued at virtually an “alliance” level in every area, adding that the meetings of the High Strategic Committee, chaired by President Recep Tayyip Erdoğan and Qatar’s Emir Sheikh Tamim bin Hamad Al Thani, formed the backbone of relations between the two countries.
Bolat said they would further develop the brotherhood and friendship between the two leaders in every area.
