The reality of Turkish companies in Qatar with the beginning of 2019

Economic and trade relations between Turkey and Qatar have developed considerably in recent years, particularly following the Doha blockade of June 2017.

In this context, the number of Turkish companies in Qatar has increased, along with increased trade exchange between the two countries.

One of the indicators of the close cooperation between Ankara and Doha in the economic and commercial fields is the “Turkey Expo in Qatar” which opened on Wednesday in Doha, the largest forum for Turkish companies in the Gulf region.

The opening of the exhibition will be attended by a number of Turkish and Qatari officials.

More than 120 Turkish companies will be involved in real estate, construction, building materials, food, medical tourism, textiles, furniture and decoration, as well as a number of companies specializing in the fields of advanced technology, programming and information technology.

“Turkey’s exports to Qatar have increased by 61 per cent to $ 1.2 billion between 2017 and 2018,” said Attila Korochaili, a member of the Board of Directors of Expo Turkey in Qatar. Target to reach between $ 2.5 billion and $ 3 billion.

“”During the last year 2018, Turkish companies received several defense and military deals worth 15 billion riyals ($ 4.12 billion),” the Anatolia news agency reported.

He pointed out that “a Turkish company to manufacture and supply uniforms and textiles and other supplies to the Qatari army, and the investment in the project worth $ 100 million.””More than 150 Qatari companies have been established in Turkey since the blockade (June 2017) and more than 300 Turkish companies operating in Qatar have increased their support to Turkey after approving a $ 3 billion currency swap,” Kuroshaili said.

“The Qatari riyal is now a convertible currency in Turkey and business owners and individuals can make their transfers in local currencies,” he said.

For his part, the Turkish ambassador said during the press conference that “the exhibition is the largest forum for Turkish companies in the region and a bridge for economic, commercial and tourism links between the two countries.

“He added that “the exhibition reflects the keenness of the two sides to develop practical mechanisms to develop the level of economic cooperation and raise the volume of trade exchange and explore innovative and promising prospects to open new areas that will promote joint investments.”

He referred to the participation of Deputy Minister of Finance and Finance Noureddine Vegani in the opening of the exhibition.

The Director of External Relations of the World Association of Traditional Sports, Mohammed Levant, also pointed to the participation of the Federation, which will be presenting strong performances on the sidelines of the exhibition, in order to spread and raise awareness about traditional sports.

The volume of investments of Turkish companies in Qatar is 16 billion dollars.

Qatar is the second largest foreign investment in Turkey, with $ 20 billion in agriculture, tourism, real estate and banking.

The Qatari and Turkish economic sectors expect the volume of trade between the two countries to reach their highest level, exceeding the barrier of $ 5 billion soon.

The two countries are working on joint ventures and investments in Qatar and Turkey as well as other countries.

Source : Turk Plus

Would you like to start your own business in Turkey?

We are here to answer all your queries

how can we help you?

Contact us at ICS GLOBAL office nearest to you or submit a business inquiry online.

Do you want a complete and comprehensive guide on establishing a company in Turkey?

All the information you need to establish your company and start your business in Turkey in one page

error: Content is protected !!