Qatar-Turkey trade grows by 30 per cent since Gulf crisis

The volume of trade exchange between Qatar and Turkey has grown by over 30 per cent since the Gulf blockade, the Qatari Minister of Economy and Trade, Sheikh Ahmed bin Jassim Mohamed Al-Thani, announced yesterday.

Speaking at the Qatar-Turkey Economic Forum held yesterday in the Qatari capital of Doha, Al-Thani said that cooperation between both countries “is witnessing a steady increase”.

He noted that several negotiations are currently underway, stressing that “the two countries will conclude economic and trade agreements soon”. The agreements will aim to grant preferential treatment for Turkish goods and services in Qatar “and vice versa”, according to the Qatari minister.

“The agreements will have a great impact on strengthening trade ties between both countries in the short and long term, and will achieve prosperity and benefits for Qatar and Turkey”, Al-Thani pointed out.

“Enhancing trade volume highlights the recent procedures and agreements that have been signed “and the deep impact they made on strengthening economic relations between the two countries”, the Qatari official reiterated.

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Our cooperation with Turkey, he pointed out, also aims to create a strategic economic partnership that would open new markets and tap the purchasing power of more than 185 million people, which he said “could be developed to reach 400 million people in the future”.

The Qatari minister also praised the efforts exerted by the private sectors in both countries to break what he described as an “illegal siege” imposed on Qatar by strengthening existing relations to provide “high-quality alternatives” for a number of consumer goods.

Citing the “unique bilateral relations” between the two countries, Al-Thani noted that the Qatar-Turkey trade volume stood at nearly QAR2 billion ($549,300) in the first quarter of 2017.

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Turkish Minister of Customs and Trade, Bulent Tufenkci, said that he “is looking towards the signing of more agreements and collaboration in more projects to strengthen Qatar-Turkey economic and trade ties, and its strength in the region”.

The forum was also attended by the chairman of the Qatar Chamber of Commerce, Sheikh Khalifa bin Jassim Mohamed Al-Thani, and the president of the Union of Chambers and Commodity Exchanges of Turkey, Rifat Hisarciklioglu.

On 5 June Saudi Arabia, the United Arab Emirates, Bahrain and Egypt severed ties with Qatar on claims it supported terrorism and then imposed punitive measures on the country. Doha denied the accusations and said it was facing a campaign of lies and fabrication.