MoCI Undersecretary, H E Sultan bin Rashid Al Khater and Secretary-General of the Gulf Cooperation Council, Jasem Mohamed Albudaiwi, along with other officials at the GCC- Türkiye Economic Forum.
Doha, Qatar: Qatar participated in the GCC-Türkiye Economic Forum held in Istanbul from November 11 to 13. The opening ceremony was attended by H E Sultan bin Rashid Al Khater, Undersecretary of the Ministry of Commerce and Industry (MoCI), and Jasem Mohamed Albudaiwi, Secretary-General of the Gulf Cooperation Council, along with the ministers and undersecretaries of commerce from GCC countries.
The ceremony was also attended by high-profile officials from the Republic of Türkiye, as well as prominent business figures from both the Gulf Cooperation Council countries and Türkiye.
Undersecretary of the Ministry of Commerce and Industry, engaged in the discussion session titled “Trade and Investment Relations in GCC and Türkiye.” He conveyed his appreciation for participating in this significant forum, highlighting its pivotal strategic advancement in developing stronger relations between the GCC countries and Türkiye. He emphasized its significance, deeply rooted in the longstanding history of geographical, economic, religious, and cultural ties.
In this regard, MoCI Undersecretary underscored the strong and enduring ties in the strategic partnership between the State of Qatar and the Republic of Türkiye, which stands as an exemplary model for bilateral relations. He further highlighted Qatar’s key position as one of Türkiye’s foremost trading partners, with the trade volume between the two nations experiencing a notable 17% growth, reaching $2.2bn in 2022 compared to $1.8bn in 2021. Additionally, the Qatari market boasts the active presence of over 771 Turkish companies.
He highlighted that Qatar holds a prominent position as one of the major investors in Türkiye, with investments valued at up to 2 billion US dollars. The Qatar Investment Authority is actively involved in numerous substantial projects across Türkiye.
He also pointed out the significant contributions of the Qatari private sector in various investment sectors that have had a substantial impact on the Turkish economy. These sectors include real estate, contracting, tourism, industry, media, financial services, and healthcare.
Concerning the Qatari economic context, MoCI Undersecretary stated that Qatar has successfully sustained its balanced economic growth, with the Qatari GDP expanding by 2.7% in the first quarter of this year compared to the corresponding period last year.
He extended an invitation to investors, encouraging them to leverage the distinguished economic and investment environment that Qatar offers for foreign investments. He emphasised the presence of incentives and legislations specifically crafted to promote and facilitate foreign investments, targeting investors, businessmen, and company owners seeking opportunities to invest in Qatar.
The forum featured a series of interactive sessions that underscored key economic sectors, encompassing trade, agriculture, food industries, infrastructure, transportation, logistics, tourism, investment, finance, industry, energy, sports, and other pertinent domains.
The GCC - Türkiye Economic Forum is focused on increasing economic cooperation and facilitating trade interactions between the Gulf Cooperation Council countries and Türkiye. Additionally, the forum aims to promote exchange between entrepreneurs from the Gulf and Türkiye, creating an environment for the development of investment initiatives that align with the interests of both sides.
