Union of Chambers and Commodity Exchanges of Turkey

The Union of Chambers and Commodity Exchanges of Turkey (TOBB) Board of Directors Vice President Ayhan Zeytinoğlu, Dr. Mohamed bin Jawhar al-Mohamed, a member of the Board of Directors of the Qatar Chamber, and representatives of several companies from the two countries attended the Turkey-Qatar Business Forum, which focused on the commercial relations of Turkey and Qatar.

During the forum, held at a hotel in Istanbul, a commercial cooperation agreement between various companies from the two countries was signed.

TOBB Vice President Ayhan Zeytinoğlu, in his speech at the forum, said that as the Turkish business community, they always stand close with Qatar and work with the Qatar Chamber on many platforms.

- “Mutual trade volume has reached $3 billion”

Stating that, at the forum, many business people from Turkey and Qatar, each of whom is the star of their own sector, will meet, Zeytinoğlu said, “We see clearly that our business worlds want to do more business with each other. Bilateral business meetings will also be held in many sectors. With these meetings, lucrative partnerships will be established.”

Zeytinoğlu, recalling that Qatari friends gave the first support to Turkey during the 2016 FETÖ coup attempt, said that the Emir of Qatar, the Government of Qatar and the Qatari business community are on Turkey's side.

Noting that Qatar also supports Operation Peace Spring against terrorist organizations in northern Syria, Zeytinoğlu said, “As one of our proverbs says, 'Friends become evident on black days.’ We never forget people who were there for us in difficult times. Similarly, when Qatar faced regional problems, Turkey and the Turkish business community stood by their Qatari friends. We have given Qatar both diplomatic and de facto support. When Turkey and Qatar were together, the economy also prospered. Ten years ago, our mutual trade volume wasn’t even half a billion dollars, but now we've reached $3 billion. Qatari capital investment in our country 10 years ago was $100 million; but now this figure is $2.5 billion. The value of the projects undertaken by Turkish companies in Qatar reached $17 billion. These are very important developments, but we're at the beginning. From now on, we're going to do bigger things.”

- “We support Qatar's vision to diversify its economy”

Zeytinoğlu stating that they are following Qatar very closely stressed that the 2022 FIFA World Cup is a great opportunity for the promotion and tourism of Qatar.

Zeytinoğlu stated that they are as proud as Qatar as it is the first time that a Muslim country is hosting this tournament, and, “We are also following Qatar’s 2030 National Vision closely. Qatar is taking concrete steps. We support this vision towards diversifying the economy.”

Zeytinoğlu, recalling that Turkey had experienced a similar transformation in the recent past, “40 years ago, Turkey was an agricultural country that exported $3 billion a year. Today we export $170 billion a year. 94% of that is industrial. We sell more than half of the goods we produce to the most competitive countries in the world: European and American markets. We have become the most powerful industrial country between Italy and China.”

Reporting that Turkey is the 6^th largest tourist destination in the world, Zeytinoğlu continued, “We have become the world's largest power in the contracting sector after China. Our businessmen undertook a total of 151 projects abroad amounting to $7.5 billion in the first 9 months of this year. Turkey is still the largest consumer goods manufacturer in Europe and the second largest in the world. It is Europe's largest supplier of automotive. The architects of all these success stories have come to do business with you in this hall today. Let's join our strengths together. We have great experience, brave entrepreneurs; Qatar has immense capital accumulation and financial experience. Let’s bring these together with tangible projects. Let's make the Turkey-Qatar partnership accepted throughout the world. Let the Turkey-Qatar connection be one of peace, trade and wealth of this region.”

- “Qatar sees Turkey as an attractive investment center”

Qatar Chamber Board of Directors Member Dr. Mohamed bin Jawhar al-Mohamed said that as part of the efforts of the leaders of the two countries, the trade volume between Qatar and Turkey increased by 85% compared to 2017, reaching 8.7 billion Qatari riyals.

Mohamed bin Jawhar al-Mohamed pointed out that the trade volume between the two countries was 4.2 billion riyals in the first half of this year, and that 1.7 billion riyals of this volume were exported to Turkey by Qatar and 2.5 billion riyals is made up of Qatar's imports from Turkey.

Mohamed bin Jawhar al-Mohamed stated that a balance in the volume of trade and the two countries exists as well as the will to continue increasing trade relations, “Qatar's private sector sees Turkey as an attractive investment center. Qatari businessmen are eager to joint venture between Turkey and Qatar and increase their cooperation.”

Mohamed bin Jawhar al-Mohamed pointed out that the number of Turkish companies operating in the Qatari market exceeded 450 and said, “The number of projects implemented by Turkish companies in Qatar has exceeded 130 and the total value of these projects is over $15 billion. On the other hand, 130 companies from Qatari companies serve in different fields in Turkey. Despite the unfair blockade against Qatar since mid-2017, Qatar's economy has not only exceeded this blockade, but has brought its economy to the largest growth rates in the region. Qatar's economy will grow by 3% in 2022 with the impact of the FIFA World Cup. Qatar supports foreign investors and encourages them to enter the Qatari market. In this forum, we would like to invite Turkish companies to take advantage of attractive investment environments in Qatar and to take advantage of the opportunities provided by the Qatari government to foreigners. The Qatari market will be honored to host Turkish companies.”