Qatar took part in the GCC-Turkiye Economic Forum in Istanbul, which aims at bolstering economic cooperation between the GCC countries and Turkiye, and raising the value of trade exchange between the two sides.
The State of Qatar was represented at the Forum by HE Undersecretary of the Ministry of Commerce and Industry Sultan bin Rashid Al Khater.
Addressing a panel entitled "GCC-Turkiye Trade and Investment Relations", HE the Undersecretary of the Ministry of Commerce and Industry stressed the importance of the Forum which reflects the strong strategic development in the relations between the GCC countries and Turkiye which are based on deep-rooted geographic, economic, religious and cultural bonds.
His Excellency emphasized the strong and firm strategic partnership between the State of Qatar and the Republic of Turkiye, which have become an inspiring model of countries' bilateral relations.
Qatar is one of Turkiye's most important trading partners with the volume of trade exchange reaching $2.2 billion in 2022, an increase by nearly 17%, compared to $1.8 billion in 2021. More than 771 Turkish companies are active in the Qatari market, and Qatar is among the largest investors in Turkiye at a value of up to $2 billion, His Excellency noted; adding that Qatar Investment Authority is currently managing a number of huge projects in Turkey, and about 182 companies are operating in the Turkish market with Qatari capital worth up to $33.2 billion.
HE the Undersecretary of the Ministry of Commerce and Industry highlighted the great role of Qatar's private sector which has recorded in recent years a notable presence in a number of investment fields supporting the Turkish economy, such as real estate, contracting, tourism, industry, media, financial services, and health.
His Excellency pointed out that the State of Qatar was managed to maintain balanced economic growth with Qatar's GDP rising by 2.7% in the first quarter of 2023, compared to the same period last year. He called on investors from all over the world to benefit from the distinguished economic and investment environment offered by Qatar for foreign investments, and the incentives and legislation aimed at encouraging foreign investors, businessmen and company owners to invest in Qatar.
The GCC-Turkiye Economic Forum featured several panels highlighting various economic fields, including trade, agriculture, food industries, infrastructure, transportation, logistics, tourism, investment, industry, energy, sports, and others.
