About 1500 Qatari and Turkish companies discuss establishing trade and investment alliances

Qatar-Turkey Business Forum

Qatar Chamber (QC) Chairman Sheikh Khalifa bin Jassim Al Thani and Vice-President of the Union of Chambers and Commodity Exchanges of Turkey (TOBB) HE Selcuk Oztürk presided over the Qatar-Turkish Business Forum which kicked off on Tuesday through a video conference.

Ambassador of the State of Qatar to Turkey H.E. Salem bin Mubarak Al Shafi, Ambassador of the Republic of Turkey to the State of Qatar, H E Mehmet Mustafa Göksu, alongside with a number of leading Qatari and Turkish businessmen attended the webinar with the participation of about 1,500 companies from both sides participated in the event.

QC’s First Vice Chairman HE Mohamed bin Twar and Second Vice Chariman Rashid bin Hamad Al Athba as well as many board members participated in the webinar.

During the event, the two sides reviewed trade and investment cooperation and discussed establishing alliances and partnerships that support both countries’ economies.

The forum’s Qatar-Turkish Matchmaking Platform witnessed large turnout and business meetings from many Qatari and Turkish companies.

Addressing the forum, Sheikh Khalifa stressed the forum’s importance in shedding light on bolstering cooperation between Qatari and Turkish businessmen and promoting trade exchange and investment opportunities available in both sides.

He said that this forum came in the light of the strong and close relation between Qatar and Turkey, especially in the economic and commercial aspects, noting that both countries’ leaderships are keenly interested in developing both countries’ bilateral relations in all aspects.

Sheikh Khalifa also noted that the bilateral relations between the two countries have evolved significantly in recent years, affirming that their trade exchange has witnessed great growth during the past three years.

The two countries’ trade recorded substantial growth during the first half of this year, he said adding that this reflected the strength of their trade relations which are witnessing more alliances and partnerships between business sectors.

HE stressed that Qatar is replete with myriad of promising opportunities for investment in all fields and industries, as well as in tourism and services, especially with the preparations for the host of Qatar World Cup 2022.

Qatar has made tireless efforts to develop its infrastructure, issued legislation and laws that enhance the investment environment and provided investment incentives that enhance its position as an investment destination, he added.

Sheikh Khalifa pointed out that Qatar offers a plenty of opportunities that attract Turkish investors, especially with the strong desire of Qatari businessmen to forge alliances and partnerships with their Turkish counterparts.

HE expressed his hope that this forum would help in achieving further cooperation and convergence between the private sector of both countries.

On his part, Vice-President of the Union of Chambers and Commodity Exchanges of Turkey (TOBB) HE Selcuk Oztürk praised the economic relations between both countries, noting that fields of economic cooperation between them are witnessing great increase thanks to bilateral meetings and joint forums between businessmen from both sides.

Ozturk also noted that Qatari investments in Turkey stood at $ 22billion last year, while Turkish investments in Qatar reached $122million, pointing out that Turkey came in the fourth place for Qatari imports in the first half of this year.

HE stressed that number of Qatari companies working in Turkey reached 179 companies in various field, noting that Turkish companies working in Qatar are participating in many projects related to the host of FIFA World Cup 2022  and other projects such as Hamad Airport and al-Thumama Stadium.

HE assured that Turkish companies are eager to explore investment opportunities available in Qatari market and building partnerships with Qatari counterpart.

For his part, the Ambassador of the State of Qatar to Turkey H.E. Salem bin Mubarak Al Shafi  said that both countries are bound by close and distinct, pointing out that the signing of the Joint Strategic Committee in 2014 has contributed to the expansion of cooperation.

He affirmed that the joint commercial agreements between both sides contributed to providing facilitation to investors in the two countries, and contributed to raising the volume of investments, whether governmental or private sector.

His Excellency also pointed out holding such meetings would contribute to bringing businessmen in both countries together to learn about the most important investment opportunities available in both sides, in addition to discussing any obstacles that prevent increasing trade between them.

Ambassador of the Republic of Turkey to the State of Qatar H E Mehmet Mustafa Göksu eluded the close relations between both brotherly countries, terming them as “historic and exceptional” and covering all areas.

HE pointed out that the Turkish embassy in Doha is ready to help Qatari businessmen who are interested to invest in Turkey or cooperate with Turkish companies.

He also invited Qatari businessmen who wish to invest in Turkey to contact the relevant agency represented in the Investment Office of the Presidency, noting that the office has representatives who can answer any enquiries regarding investment in Turkey.

During the event, many presentations about investment and trade were delivered by both sides.

Talal Ahmad Al-Mahmoud, Strategy Analyst at Qatar Investment Promotion Agency, highlighted the Qatari economy in his presentation, the economic incentives offered by Qatar and the role of Investment Promotion Agency in Qatar. He said that Qatar is expected to remain strong and stable during the next year, while the GDP is expected to grow by 5% in 2021.

Abdulla Al Naimi, Investment Manager at Qatar Science and Technology Park (QSTP), said that the  establishment of QSTP 15 years ago was to provide an international place for researches, energy, environment, technology and education, and to play a key role in accelerating the pace of innovation and tech entrepreneurship.

The QSTP’s Product Development Fund (PDF) encourages local startups and SME in the private sector to develop products and services relevant to local market needs.

Fahad Al Kuwari, Markets Manager of Qatar Free Zone Authority, delivered a presentation on the free zone. He said that Qatar ranked highly across a range of global competitiveness metrics, proving a strong and reliable place to do business. The authority oversees many free zones including Ras Bufontas and Umm Alhoul. These zones offer distinguished services for local and foreign investors.

From the Turkish side, Mrs. Lale ERAY, Head of Department Ministry of Industry and Technology, introduced a presentation on the investment programs offered by the Turkish Government to foreign companies, the customs tax exemption system up to five years, the added tax to foreign investors and how to apply for the program, as well as investment incentives and support.

Can GÜRLEK, expert in the Ministry of Industry and Technology, reviewed the most important efforts made by the Turkish government to attract foreign capital, noting that Turkey received foreign investments estimated at about $220 billion from 2003 to date.