Qatar-Turkey trade volume to increase in 2018, says Qatar Chamber chairman
Gulf Times | January 17, 2018- Following a 30% growth in Qatar-Turkey bilateral trade in the fourth quarter of 2017, trade volume between the two countries is expected to “increase further” this year, a Qatar Chamber official said.
Speaking on the sidelines of the Qatar-Turkey Economic Forum held in Doha yesterday, Qatar Chamber chairman Sheikh Khalifa bin Jassim bin Mohamed al-Thani lauded the “growing co-operation” between the two countries’ public and private sectors.
In 2017, Sheikh Khalifa said Qatar Chamber and the Union of Chambers and Commodity Exchanges of Turkey signed an agreement to enhance bilateral and economic ties between Qatar and Turkey.
“We will soon sign a new trade agreement with Turkey, which will serve our commercial trade in Qatar,” Sheikh Khalifa noted, adding that Qatar-Turkey relations “are growing,” particularly in the banking sector, real estate, and other industries.
In the long-term, Sheikh Khalifa said the trade agreements would lead to the establishment of more joint ventures between both the countries.
There are 186 Turkish companies working on joint ventures in the Qatari market, in addition to 19 Turkish companies with full ownership of Turkish capital worth QR63mn in the fields of infrastructure, construction
and contracting, engineering consulting, trade and electrical work, he said.
“In recent years, there has been a tangible and accelerated strengthening of co-operation between our two countries. This has been greatly reflected in the co-operation between business sectors in Qatar and
Turkey, which has led to an increase in trade volume to reach QR3.9bn in 2017 and the rise in imports from Turkey by 30% compared to 2016,” Sheikh Khalifa said.
He stressed that Qatar’s economy had continued to grow, despite the economic blockade imposed on Qatar. Citing official figures, Sheikh Khalifa said real GDP growth accelerated from 1.8% in the second quarter
of 2017 to 3.7% in the third quarter of the same year.
In his speech at the forum, Sheikh Khalifa said the embargo imposed on Qatar “was a great incentive for the Qatari private sector to expand its activities in the economic process.”
“Turkish goods and commodities have played an important role in stabilising the Qatari market, and we hope to continue the development of these partnerships to achieve the desired economic benefit the two
countries in the long term,” Sheikh Khalifa said.
He added: “I hope that this economic forum will achieve its objectives in enhancing co-operation between businessmen in both countries and contribute to the establishment of new partnerships and alliances.