Turkiye and the State of Qatar possess components of economic integration through trade co-operation across numerous economic sectors shared by the two countries, Turkish economic experts and analysts confirmed.
Speaking to Qatar News Agency (QNA), they underscored the importance of the 10th Session of the Qatari-Turkish Supreme Strategic Committee, which convened in Ankara, in giving impetus to the economic and trade co-operation between the two countries, as well as exploring new economic opportunities for the shared interests of the two nations.
In this regard, Vice-President of the International Business Forum, Gazi Misirli, noted the strength of the Qatari-Turkish ties, especially that they are constantly evolving in all fields, particularly in economy and tourism, adding that the bilateral relationship has remarkably advanced in the economic arena, with significant growth in shared investments between the two nations, as well as a boom in trade exchange.
Qatar-Turkiye joint co-ordination in the economic area has become more robust than ever and has entered a new phase of strategic co-operation in the long term, Misirli underlined.
Chairperson of the Arab-Turkish businessmen Association in Istanbul (ARTIAD), Jamal Al Din Kareem, said that Qatari-Turkish relations are currently the best in both the political and economic spheres, given the close rapprochement they have forged over the past decade. He underscored Turkiye’s unwavering support for co-operation and partnership between the Turkish and Qatari businessmen, affirming that elevating the co-operation between Turkish and Qatari businessmen and investors is essential in the coming period.
Given the growing economic co-operation, the political harmony and converging perspectives, the bilateral relationship has been evolving increasingly, culminating in Turkiye being a crucial destination for Qataris. Subsequently, interest in the banking and real estate investment sectors by Qatari investors has been on an upward trajectory, ultimately leading them to secure the top position among foreign investors in Turkiye in 2018, Kareem highlighted.
During his participation in the conference titled Business and Investment Opportunities in Turkiye, held in Doha recently, Turkish Minister of Treasury and Finance, Mehmet Simsek, described the Qatari-Turkish political and economic ties as incredible, highlighting that they underscored the constantly evolving trade relations.
Conditions are favourable to reinforce this relationship and pave the way for businessmen to forge further trade relations, Simsek said.
The bilateral relationship has been strengthening in recent years across all fields, with a particular emphasis on economic ties.
Over 711 Turkish firms are operating in Qatar, including 664 with joint Qatari-Turkish capital, 47 fully Turkish-owned, and 15 located in Qatar's free zones. Additionally, more than 183 Qatari firms are operating in Turkiye.
Qatar's direct investments in Turkiye have largely increased to a value of $33.2bn, whilst the value of projects implemented by Turkish construction firms in the Qatari infrastructure reached $22bn.
In the tourism segment, the number of Qatari visitors to Turkiye increased to 30,000 in 2016, then rose to nearly 110,000 in 2019, and over 150,000 in 2023.
The two nations established the Qatar-Turkiye Business Council, which periodically convenes between the Foreign Economic Relations Board of Turkiye (DEIK) and the Qatari Businessmen Association (QBA).
Turkiye is considered one of the major economies whose GDP draws on diverse sectors, including industry, tourism, services, investment, banking, and agriculture, and recently has remained one of the preferred tourism destinations for Qataris, thereby undergirding its economy.
Additionally, leveraging the Qatari investments in the tourism sector could squarely support the Turkish economy.
