Economic forum to boost Qatar-Turkey cooperation

The ‘Qatari-Turkish Economic Forum’, slated on Tuesday in Doha, aims to enhance economic cooperation between Qatar and Turkey in various fields, including infrastructure, agriculture, pharmaceuticals, and industry, private sector leader Qatar Chamber announced.

Similarly, the Turkish embassy in Doha and project development company Medyacity are organising ‘Expo Turkey 2018’ from January 17 to 18 at the Doha Exhibition and Convention Centre (DECC) to further promote investment opportunities between Qatar and Turkey.

On Tuesday, Qatar Chamber chairman Sheikh Khalifa bin Jassim bin Mohamed al-Thani and Union of Chambers and Commodity Exchanges of Turkey (TOBB) president Rifat Hisarciklioglu will inaugurate the economic forum.

In a statement, the chamber said more than 150 Turkish companies specialising in infrastructure, building materials, pharmaceutical and medical supplies, foodstuff, agriculture, glass and plastic, industrial equipment, electricity, and logistics and security systems will be represented at the event.

The forum will also feature sessions on investment opportunities in Qatar to be presented by officials from the Ministry of Economy and Commerce, the Ministry of Transport and Communications, and Qatar Development Bank.

Earlier, Turkish ambassador Fikret Ozer said the Turkish embassy in Doha, as well as other Turkish public and private sector officials are closely working with authorities concerned in Qatar and agencies such as Qatar Chamber to further develop economic and bilateral relations of both countries. He also said Turkey’s ministers of economy and environment are expected to attend ‘Expo Turkey 2018’.

In a letter to Gulf Times, the Office of the Commercial Counsellor of the Turkish Embassy said the B2B meetings arranged by Medyacity during ‘Expo Turkey 2018’ will provide an opportunity for companies in Qatar and its decision makers to explore business opportunities with leading Turkish exporters in the fields of IT, technology, tourism, medical, food, textiles, furniture, construction materials, heavy machinery, highway construction, logistics, and landscape, among others.

Figures provided by Qatar Chamber showed that trade volume between Qatar and Turkey reached over $1.44bn (QR5.24bn) in 2016 against $1.43bn in the previous year. Qatar’s exports to Turkey in 2016 stood at $908.5mn, while imports from Turkey reached $538.9mn.

“The trade balance continued to be in favour of Qatar at $369.6mn, marginally down from $384.4m in 2015. More than 200 Turkish companies in a number of industries are operating in Qatar,” Qatar Chamber said.

The value of projects carried out by Turkish contracting companies in Qatar increased to $11.6bn, most of which are part of the 2022 FIFA World Cup projects. Qatari investments in Turkey are valued at $20mn, it added.