Qatar & Turkey to ink preferential trade agreement: Minister

DOHA: Qatar and Turkey are set to ink an important partnership agreement to boost trade and economic cooperation.
The agreement will grant preferential treatment for Turkish goods and services in Qatar and vice-versa, the Minister of Economy and Commerce, H E Sheikh Ahmed bin Jassim Al Thani, announced in his address at opening of the second edition of the Qatar-Turkey Economic Forum here yesterday.
The agreements signed between Qatar and Turkey in the recent past have already led to a sharp rise in the bilateral trade volume between Qatar and Turkey, which is expected to cross over QR7bn in 2018.
“Qatar, under the leadership of Emir H H Sheikh Tamim bin Hamad Al Thani, has proven its steadfastness and ability to maintain its established position as one of the strongest regional economies and among the most promising economies in the world,” said the Minister.
He hailed efforts exerted by the Qatari and Turkish private sectors to break the illegal blockade imposed on Qatar by strengthening cooperation to provide high quality alternatives to many consumer goods.
He said that the cooperation between Qatar and Turkey aims to create a strategic economic partnership that allows the opening of new markets with a size of more than 185 million people, which can be developed further to reach over 400 million people.
Commenting on the sharp rise in the volume of bilateral trade, he said that during the first half of 2017 it stood at about QR2bn, which registered significant growth over the last six months, especially after the blockade. The bilateral trade volume reached QR3.9bn in 2017. The imports from Turkey have increased by 30 percent compared to 2016. The Minister also noted that Qatar has strengthened its strategic stocks of commodities and logistics in accordance with a strategic plan to increase this stock continuously and has undertaken several steps to achieve self-sufficiency in many vital sectors.

Sheikh Ahmed inaugurated the Qatari-Turkish Economic Forum at Doha Sheraton Hotel. The meeting was attended by the Turkish Minister of Customs and Trade, Bülent Tüfenkci; Chiarman of Qatar Chamber Sheikh Khalifa bin Jassim Al Thani, and Rifat Hisar Geklioglu, President of the Federation of Chambers and Commodities Exchanges of the Republic of Turkey.
More than 150 companies representing the infrastructure, construction, medicines, medical supplies, food, agriculture, rubber, plastics, industrial equipment, electricity, logistics and security systems sectors participated in the Qatari-Turkish Economic Forum.
The Forum is an extension and culmination of what was agreed upon in the framework of the opening of the programme prepared for the Qatari delegation in Izmir, Turkey, which witnessed a significant participation by businessmen and investors from both sides.
Sheikh Jassem also noted that this meeting reflected mutual concern between the two sides to explore wider horizons for trade and economic cooperation and open up new fields to promote joint investments.
Commenting on the unjust blockade he said that this has been an important and strong incentive for the speedy adoption and implementation of several projects and initiatives through the provision of alternative sources of import.
On the newly-opened Hamad Port, he said that the iconic port now accounts for 27 percent of the regional trade volume in the Middle East and has connection with 14 ports and 72 destinations worldwide. The Minister pointed out that Qatar has taken several initiatives to achieve self-sufficiency in many vital sectors through the implementation of projects by establishing partnership between the government and private sectors, including the launch of major projects for investors in the field of food security, logistics, sports, tourism, industrial, health, education and services.
Over 400 business leaders, senior diplomats and government officials from both sides attended the high profile event.
Sheikh Ahmed said Qatar has introduced several important economic reforms and key changes which is attracting foreign direct investments from all over the world. And the Qatar-Turkey Economic Forum, which aims at exploring and expanding new areas of economic cooperation, will help boost the bilateral trade volume in 2018 and the coming years significantly.
“We have also taken strategic decisions to boost revenues and strengthen our economy by diversifying the non-hydrocarbons sector by offering 100 percent FDI in several sectors, laws related to Investment Free Zones among others, are part of our long term strategy to achieve sustainable development. We have already made considerable progress in this regard,” said the Minister.
He also said that the number of Turkish products and companies in Qatar is growing fast, and in the coming days, the strategic partnership with Turkey will bring more fruitful results for mutual interests.
On his part, Turkish Minister Bülent echoed similar views and added that the Forum will bear fruitful results in the future. “We attach great importance to our relationship with Qatar. Turkey and Qatar value and pursue similar ideas and goals. We are strong partners expanding cooperation in all walks of life, including business, trade and investment… We do not differentiate when it comes to the security and stability of Turkey and Qatar. The unfolding events in the region, such as the unlawful blockade against Qatar, have brought us closer for higher levels of cooperation,” noted Bülent.
Bülent also said the private sector from both the countries has great opportunities for business and investment both in Turkey, Qatar and elsewhere. Private sector is playing critical role to boost the trade volume between the two friendly countries.