Qatari-Turkish Enhances Economic Cooperation

Qatar, 18 November, 2024 : The 10th Qatari-Turkish Supreme Strategic Committee aims to further enhance bilateral economic relations, said Turkish Minister of Trade H.E. Omer Bolat. Speaking to Qatar News Agency (QNA), Bolat highlighted the committee as a key platform for assessing Qatar-Turkey relations, particularly in trade and economy.  

The committee has facilitated over 100 agreements across various sectors, including defense, infrastructure, and logistics. These agreements align with the countries’ strategic cooperation goals and ensure regular coordination between government agencies and private sectors.  

Bilateral trade grew significantly over the past decade, with the 2022 trade volume reaching $2.3 billion. However, in 2023 it dropped to $1.3 billion, and the 2024 trade volume stands at $933 million as of October. Bolat expressed optimism for expanding trade under the 2018 economic partnership agreement.  

Turkish exports to Qatar include defense products, machinery, and textiles, while Qatar exports aluminum, chemicals, and gold to Turkey. Qatar is the eighth-largest market for Turkish construction services, with $20.3 billion in completed projects.  

Qatari direct investments in Turkey total $4.9 billion, while Turkish investments in Qatar amount to $48 million. Both countries are exploring new agreements to boost joint investments and cooperation in areas such as contracting, trade, and technical regulations.

Source : www.zawya.com