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Tribune news network
Doha
Qatari-Turkish bilateral trade grew by 78.8 percent to QR8.7 billion in 2018, compared to QR4.8 billion in 2017, Minister of Commerce and Industry HE Ali bin Ahmed al Kuwari has said.
Speaking at the opening of the Qatari-Turkish Business Forum in Ankara on Friday, Kuwari said Qatari exports to Turkey grew by 99 percent in 2018, while Qatari imports from Turkey increased by 64.9 percent.
The forum was inaugurated by Prime Minister and Minister of Interior HE Sheikh Abdullah bin Nasser bin Khalifa al Thani, in the presence of Turkish Vice President Fuad Oktay, and a number of ministers and senior officials from both nations.
Hailing the Turkish companies for its contribution towards the Qatari economy, Kuwari said more than 499 Qatari-Turkish joint firms are currently operating in Qatar’s trade, contracting and information technology sectors, while 37 wholly-owned Turkish companies are operating in the construction and industrial sectors.
Kuwari said Qatar has established a comprehensive strategy to diversify its income source by supporting vital economic sectors, and investors, through the implementation of a set of programmes and policies aimed at opening Qatar’s economy to attract companies and channel foreign direct investment into priority sectors, in line with the state’s economic plans.
The minister noted Trade and Economic Partnership Agreement (TEPA) signed by Qatar and Turkey in 2017, which played a key role in facilitating the exchange of goods and services and promoting investment cooperation.
Kuwari also stressed the importance of the memorandum of understanding that the governments of Qatar, Turkey and Iran signed in 2017 to facilitate international transport and transit traffic, which is pivotal to streamlining the flow of goods and commodities by reducing transport time, costs and the required procedures.
He said, in order to attract foreign investment, Qatar has introduced key amendments to business regulations and legislations that allow foreign investors up to 100 percent ownership in all economic, commercial and real estate activities.
In parallel, Qatar has sought to open its economy to the world by modernising its infrastructure to meet the needs of companies and bolster trade with its various partners around the globe, Kuwari pointed out.
He said Qatar is also seeking to open its economy through the development of Hamad Port, which plays a pivotal role in linking world’s major economies through direct shipping lines, further cementing Qatar’s position as a transit hub with links to more than 40 ports in three continents.
“Qatar also offers access to economic and logistics zones in strategic locations in close proximity to Hamad International Airport and Hamad Port, as well as a high-speed road network designed in line with the highest international standards,” Kuwari said.
Quoting the World Bank, Kuwari said Qatar’s economy is expected to grow by about 2 percent in 2019, and 3 percent in the medium term, driven by growth in the services and construction sectors as Qatar pursues the implementation of projects within the framework of its National Vision 2030, and preparations to host the 2022 FIFA World Cup.
He noted Qatar’s foreign trade sector witnessed remarkable growth in 2018, with the trade balance recording a surplus of $52 billion, an increase of 40 percent compared to 2017.
Qatari exports increased by 25 percent last year, he said.
The Qatari-Turkish Business Forum aims to strengthen trade, industrial and investment cooperation between the two countries, stimulate mutual investments and contribute to increasing the volume of trade exchange between the two nations.
The forum seeks to create new prospects for cooperation between representatives of the private sector, promoting economic partnerships and reviewing investment opportunities in both countries to facilitate the establishment of joint projects that serve the interests of both sides.
The forum was also attended by Mohammed bin Ahmed bin Twar al Kuwari, First Vice Chairman of Qatar Chamber; Ruhsar Pekcan, Turkey’s Minister of Trade; and Rifat Hisarciklioglu, President of The Union of Chambers and Commodity Chamber Exchanges in Turkey.
The forum, which is the first of its kind, witnessed the participation of a number of heads and representatives of major Qatari companies as well as more than 80 major Turkish companies specialised in the fields of information technology, real estate development, industry and others.
The forum featured a presentation by the Qatari delegation highlighting the business environment and investment opportunities in Qatar.
Sheikh Ali bin Alwaleed al Thani, CEO of Qatar’s Investment Promotion Agency; Abdullah Mubarak al Khalifa, acting CEO of Qatar National Bank; Yousuf Mohamed al Jaida, CEO of Qatar Financial Centre; Mohammed Bader al Sada, CEO of Media City; Abdullah Hamad al Misnad, Executive Vice Chairman of Qatar Free Zones Authority; and Yousef al Obaidly, CEO of Digiturk, attended the presentation.
Turkish officials also delivered a presentation highlighting the success stories of Turkish construction company Tekfen in Qatar.
Doha
Qatari-Turkish bilateral trade grew by 78.8 percent to QR8.7 billion in 2018, compared to QR4.8 billion in 2017, Minister of Commerce and Industry HE Ali bin Ahmed al Kuwari has said.
Speaking at the opening of the Qatari-Turkish Business Forum in Ankara on Friday, Kuwari said Qatari exports to Turkey grew by 99 percent in 2018, while Qatari imports from Turkey increased by 64.9 percent.
The forum was inaugurated by Prime Minister and Minister of Interior HE Sheikh Abdullah bin Nasser bin Khalifa al Thani, in the presence of Turkish Vice President Fuad Oktay, and a number of ministers and senior officials from both nations.
Hailing the Turkish companies for its contribution towards the Qatari economy, Kuwari said more than 499 Qatari-Turkish joint firms are currently operating in Qatar’s trade, contracting and information technology sectors, while 37 wholly-owned Turkish companies are operating in the construction and industrial sectors.
Kuwari said Qatar has established a comprehensive strategy to diversify its income source by supporting vital economic sectors, and investors, through the implementation of a set of programmes and policies aimed at opening Qatar’s economy to attract companies and channel foreign direct investment into priority sectors, in line with the state’s economic plans.
The minister noted Trade and Economic Partnership Agreement (TEPA) signed by Qatar and Turkey in 2017, which played a key role in facilitating the exchange of goods and services and promoting investment cooperation.
Kuwari also stressed the importance of the memorandum of understanding that the governments of Qatar, Turkey and Iran signed in 2017 to facilitate international transport and transit traffic, which is pivotal to streamlining the flow of goods and commodities by reducing transport time, costs and the required procedures.
He said, in order to attract foreign investment, Qatar has introduced key amendments to business regulations and legislations that allow foreign investors up to 100 percent ownership in all economic, commercial and real estate activities.
In parallel, Qatar has sought to open its economy to the world by modernising its infrastructure to meet the needs of companies and bolster trade with its various partners around the globe, Kuwari pointed out.
He said Qatar is also seeking to open its economy through the development of Hamad Port, which plays a pivotal role in linking world’s major economies through direct shipping lines, further cementing Qatar’s position as a transit hub with links to more than 40 ports in three continents.
“Qatar also offers access to economic and logistics zones in strategic locations in close proximity to Hamad International Airport and Hamad Port, as well as a high-speed road network designed in line with the highest international standards,” Kuwari said.
Quoting the World Bank, Kuwari said Qatar’s economy is expected to grow by about 2 percent in 2019, and 3 percent in the medium term, driven by growth in the services and construction sectors as Qatar pursues the implementation of projects within the framework of its National Vision 2030, and preparations to host the 2022 FIFA World Cup.
He noted Qatar’s foreign trade sector witnessed remarkable growth in 2018, with the trade balance recording a surplus of $52 billion, an increase of 40 percent compared to 2017.
Qatari exports increased by 25 percent last year, he said.
The Qatari-Turkish Business Forum aims to strengthen trade, industrial and investment cooperation between the two countries, stimulate mutual investments and contribute to increasing the volume of trade exchange between the two nations.
The forum seeks to create new prospects for cooperation between representatives of the private sector, promoting economic partnerships and reviewing investment opportunities in both countries to facilitate the establishment of joint projects that serve the interests of both sides.
The forum was also attended by Mohammed bin Ahmed bin Twar al Kuwari, First Vice Chairman of Qatar Chamber; Ruhsar Pekcan, Turkey’s Minister of Trade; and Rifat Hisarciklioglu, President of The Union of Chambers and Commodity Chamber Exchanges in Turkey.
The forum, which is the first of its kind, witnessed the participation of a number of heads and representatives of major Qatari companies as well as more than 80 major Turkish companies specialised in the fields of information technology, real estate development, industry and others.
The forum featured a presentation by the Qatari delegation highlighting the business environment and investment opportunities in Qatar.
Sheikh Ali bin Alwaleed al Thani, CEO of Qatar’s Investment Promotion Agency; Abdullah Mubarak al Khalifa, acting CEO of Qatar National Bank; Yousuf Mohamed al Jaida, CEO of Qatar Financial Centre; Mohammed Bader al Sada, CEO of Media City; Abdullah Hamad al Misnad, Executive Vice Chairman of Qatar Free Zones Authority; and Yousef al Obaidly, CEO of Digiturk, attended the presentation.
Turkish officials also delivered a presentation highlighting the success stories of Turkish construction company Tekfen in Qatar.
