Posted on January 11, 2018

Turkey's exports to Qatar increased 46 percent in 2017 from $495 million in the previous year, Turkish Ambassador to Qatar HE Fikret Ozer said on Wednesday. The Turkish envoy told Qatar Tribune that the trade volume between the two countries also registered an impressive surge from $750 million in 2016 to over $1 billion in 2017.

The volume of trade between the two countries is expected to double to $2 billion by the end of 2018 given the growing trade ties between the two nations, he said. Ozer said that Qatar has increased import of food, furniture and construction material from Turkey. Turkey has also started importing more LNG from Qatar, he said, adding that there are plans to increase the volume. The growing trade and economic relations between the two countries can be seen from the fact that Qatar has invested around $20 billion in Turkey.

These investments are likely to increase once the recent agreements signed between the two countries are implemented, he said. Turkey is also seeking Qatar's investment in multi-billion power plant project, the envoy said. The envoy said that Qatar has already made investments in Turkey's economic sectors of real estate, telecommunications, industry and banking. All these sectors still require a lot of investment, he said, adding that Qatari investors can also look for investment opportunities in furniture, agriculture and food sectors.

Citing Turkey as one of the best investment destinations in the world, Ozer said the country will have better connectivity with rest of the world as a new airport will be opening in Istanbul this year. Next week, Expo Turkey will be opened in Doha to further strengthen growing ties between the two countries, the envoy said, adding that more than 160 Turkish companies will be participating in the expo. Turkish economy minister and minister of environment will also be visiting the expo, the envoy said.

source: Qatar Tribune