'Qatari-Turkish economic relations are close and solid'

Qatar Chamber and Istanbul Chamber of Commerce praised the strength and sustainability of Qatari-Turkish relations, noting that the visit of His Highness the Amir Sheikh Tamim bin Hamad al-Thani to the Republic of Turkiye to participate in the eighth session of the Qatari-Turkish Supreme Strategic Committee will enhance co-operation and open new horizons between the two countries, especially in the commercial and economic fields.HE the Chairman of Qatar Chamber Sheikh Khalifa bin Jassim bin Mohamed al-Thani said that the visit of His Highness the Amir Sheikh Tamim bin Hamad al-Thani to the Republic of Turkiye to participate in the eighth session of the Qatari-Turkish Supreme Strategic Committee will bolster co-operation relations and create new horizons between both countries, most notably in the commercial and economic fields.Speaking to Qatar News Agency (QNA), His Excellency said that Turkiye is an outstanding tourist and investment destination, pointing out that Qatar was one of the largest foreign investors in Turkiye.Qatar's diversified investments in Turkiye include several sectors, most notably tourism, real estate and banking, His Excellency said, adding that in return, hundreds of Turkish companies are investing in the Qatari market and have projects in partnership with Qatari companies in various economic sectors, particularly in trade, contracting, services and hospitality.Hailing the strong Qatar-Turkiye relations in various fields, particularly the economic, trade and investment ones, His Excellency said that His Highness' visit will positively impact the trade and investment exchange, co-operation and partnership relations between the business sectors in both countries.HE Sheikh Khalifa bin Jassim bin Mohamed al-Thani highlighted Qatari businessmen's desires to boost cooperation with their Turkish counterparts, and to establish alliances and partnerships to benefit from Turkish expertise in setting up joint investments, whether in the two countries or in other countries that offer an atmosphere conducive to investments.Commenting on the important role played by the Qatari-Turkish Supreme Strategic Committee in fostering and elevating bilateral co-operation relations, His Excellency said that 16 co-operation agreements were signed in the committee's first meeting in Doha in 2015, pointing that the economic relations between the two countries witnessed rapid growth year after year.The trade exchange volume saw a 106% increase when it surged from QR 3.34bn in 2016 to QR 6.9bn in 2021, His Excellency noted.Turkiye is an important trading partner for the State of Qatar, and there is a common desire between both sides to maintain the accelerated pace of trade exchange, the QC Chairman said.His Excellency highlighted the close co-operation relations between the QC and Turkiye's Union of Chambers and Commodity Exchange amid reciprocal visits and a common desire to enhance co-operation and pave the way for companies of the two countries to establish commercial alliances and partnerships.The QC supports and encourages cooperation between business sectors, and works to facilitate the establishment of partnerships and alliances between them to support trade and economic cooperation between the two countries, His Excellency noted.His Excellency added that the QC recently hosted many Turkish delegations and took part in several important economic events held in Turkiye, during which it discussed ways to boost trade and investment co-operation between both countries.Vice-President of the Istanbul Chamber of Commerce Dr Israfil Kurulay praised the strength and sustainability of Qatari-Turkish relations.In an interview with QNA, Kurulay stressed that Qatar and Turkiye have had strong relations for many years at the highest political, economic, and social levels.During the last period, many agreements were concluded between the two countries that contributed to creating an atmosphere of continuity in the course of relations, he highlighted.He pointed out that His Highness the Amir's visit and participation in the Qatari-Turkish Joint High Strategic Committee meeting will achieve continuous co-ordination and great rapprochement in bilateral relations and important issues between the two countries.Kurulay also stressed that the Istanbul Chamber of Commerce attaches great importance to the relationship with Qatar.He also expressed his aspirations that this visit would contribute to advancing relations to the highest levels, raising the level of trade exchange between the two countries to the highest level.In his interview, he stressed the importance of concluding agreements between the two countries and the necessity of translating them into reality, pointing out that is the goal of the agreements.The Istanbul Chamber of Commerce brings together Turkish and Qatari businessmen under one roof to activate the agreements concluded between the two countries.The ball is always in the court of businessmen from both countries to activate it in the interest of all, he added.He also stressed that the Istanbul Chamber of Commerce encourages Qatari business owners to increase their investments in Turkey and cooperate with their Turkish counterparts in establishing partnerships and alliances, whether in Qatar or Turkiye, calling on Qatari companies to increase their investments in Turkiye and take advantage of the advanced infrastructure and attractive investment climate.As for the e-commerce between Turkiye and Qatar, he praised Qatar for this step and said that it is an opportunity to market more than 5mn Turkish products in Qatar.He described this step as a new way to facilitate trade between the two countries.Regarding his expectations about the Qatari-Turkish Joint High Strategic Committee, he expressed his country's desire and aspiration that the outcomes would result in decisions that are in the interest of the economy in both countries in the real estate and food sectors.He pointed out that many Turkish companies are operating in the Qatari market in various economic sectors, especially in trade, contracting, construction, health sector, services, and real estate.He said that the Qatari-Turkish Joint High Strategic Committee promotes trade exchange and partnerships at the economic, financial, commercial, educational, agricultural, technological, and defence levels, as well as the facilities granted to the citizens of the two countries.He pointed out that Qatar and Turkiye have strong economic relations based on trade exchange.In recent years, these relations have witnessed great prosperity in various fields and economic activities, and these relations culminated in agreements in the energy, infrastructure, manufacturing, military equipment, and tourism fields.In 2015, the value of trade exchange between the two countries amounted to $849.562; Turkish exports to Qatar were $432,845, while imports amounted to $416.717.In 2021, the value of trade exchange between the two countries reached $1,151,051, while Turkish exports to Qatar amounted to $568,198 and imports were $1,719,249, he said.The total Qatari investments in Turkiye amounted to around $33.2bn by the end of 2020.In the last 10 years, the volume of trade exchange increased from $340mn to $2.24bn, he said.He highlighted that 535 Turkish companies are operating in Qatar in various fields, especially in the construction sector.The value of the contribution of Turkish construction companies to infrastructure projects in Qatar has reached $18.3bn through the implementation of 146 projects.He explained that there are approximately 182 companies in Turkiye, with Qatari capital at a rate of $33bn.Meanwhile, more than 711 Turkish companies operate in Qatar, including 664 companies with Qatari and Turkish capital, 47 with 100% Turkish capital, and 15 Turkish companies in the free zone in Qatar.Regarding Qatar's hosting of the FIFA World Cup Qatar 2022, he stressed that this will enhance Qatar's role in the world, since it is hosted by an Islamic country for the first time, which lays the foundation for more achievements made recently by the State of Qatar.