A solid partnership, promising economic prospects

In order to strengthen the strong and strategic brotherly relations between the State of Qatar and the Republic of Turkey, H.H. Amir Sheikh Tamim bin Hamad Al Thani started an official visit to Turkey yesterday.

The two countries look forward to strengthening the strong brotherly ties and strategic relations between them, which have been developed and rooted over many decades, to cover the sectors of security, politics, military, economy, investment, development, culture and others in order to achieve common interests. of the two countries and their brotherly peoples.

Qatar-Turkey relations, which officially began in 1979, with the opening of the two countries’ embassies in Doha and Ankara, are strong and solid at all levels. Its strength was enhanced by the establishment of the Joint Senior Strategic Committee between Qatar and Turkey in 2014, of which Doha hosted its first session in December the following year. Since its creation, seven meetings have been held, equally between the two countries, resulting in the conclusion of more than eighty agreements in various fields.

Mutual official visits at the highest level between the two countries, as well as political consultations, do not stop, because Doha and Ankara are linked by relations of friendship and brotherhood that are exceptional in their distinction and gift due to the great rapprochement at the level of leaders and people and the common denominators between the two brotherly countries, and the boundless solidarity between them in times of crisis, as well as harmonious political visions on many issues and issues. The two countries also share a political orientation that adopts dialogue, diplomacy and the activation of mediation efforts as the basis for security, stability and peace and the resolution of international and regional conflicts.

The biggest indication of the depth of Qatar-Turkey relations is that since 2014, His Highness the Amir and HE the Turkish President have held 28 summits. The most recent of these meetings took place in December 2021, when President Recep Tayyip Erdogan visited Doha and chaired, together with his brother the Emir, the seventh meeting of the joint Qatari-Turkish high strategic committee between the two country. After the meeting, the two sides signed several agreements and memorandums of understanding covering endowments, Islamic affairs, media, communication, culture, disaster and emergency management, to standardize standards, small and medium enterprises and investments.

The final communiqué of the committee meeting was also signed, indicating that the two sides discussed many aspects of their strong and distinguished relationship, including regional security and cooperation in defence, health, trade. and investment, energy, aviation, tourism, culture and education. The two sides pledged to further strengthen their bilateral relations in the financial services sector and to continue to act in close financial coordination, and the two sides welcomed the signing of the agreement on the extension and modification of the exchange agreement between the Turkish lira and the Qatari rial between the Central Bank of the Republic of Turkey and the Central Bank of Qatar.

The Committee welcomed, in its final communiqué, the progress made in mutual investments over the past year and the fact that Qatari investments in Turkey reached the equivalent of 33.2 billion dollars at the end From 2020, the two sides pledged to explore more ways to support the diversification of economic relations and financial coordination between them.

The two sides agreed to increase their cooperation in infrastructure projects in the two countries. Qatar appreciated the role of Turkish companies in the infrastructure development projects in Qatar ahead of the 2022 FIFA World Cup and the development plans under Qatar Vision 2030.

The State of Qatar has proposed the creation of a “Turkish Free Economic Zone” in the areas supervised by the Qatar Free Zones Authority. This offers unique opportunities to combine Turkish industrial innovation with the global competitive advantages of the Qatari economy to enable Turkish investors to access additional markets in India, Asia and Africa.

The two countries renewed their joint commitment to continue and strengthen regional and global efforts to establish international peace and security, combat terrorism and resolve conflicts through peaceful means.

Turkey is one of Qatar’s most important trading partners, and the trade volume between the two countries has seen a remarkable increase from $340 million in 2010 to $2.24 billion in 2019. two parties hope to raise it and raise it to $5 billion. . Turkey is a distinguished investment destination for Qatari investors, as there are many successful Qatari investments including real estate, tourism and others.

The tangible development in the volume of trade between the two countries is mainly due to the close relations and mutual visits, and the existence of numerous trade and investment agreements signed at the level of the public and private sectors, which have facilitated the implementation in place of mutual investments. , and has contributed to increasing the flow of goods and merchandise in both directions, notably with the signing of the trade and economic partnership agreement between the two governments in 2018, and the inauguration of shipping lines between them.

More than 711 Turkish companies are operating in Qatar, including about 664 companies with Qatari and Turkish capital, 47 companies with 100% Turkish capital, 15 Turkish companies in the free zone, in addition to more than 183 Qatari companies operating in Turkey. Qatar also hosts the “Expo Turkey in Qatar” every year with the participation of hundreds of Turkish companies wishing to work in the Qatari market.
The construction sector is one of the areas most targeted by Turkish companies operating in Doha, in addition to the economic, commercial, health, real estate, technological and industrial sectors.

Turkey, which covers just over 783 square kilometers and is inhabited by around 85 million people, is a country with great capabilities in many productive fields, including agriculture, industry and services.

This opens the door wide for increased Doha-Ankara trade and investment expansion as the two countries move towards joint investments in third countries and achieve great integration that benefits everyone.

Turkey’s economy grew by 11% in 2021, the highest among its peers in the Industrial Group of Twenty (G20) and third among Organization for Economic Co-operation and Development (OECD) countries.

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