Over 1,500 Qatari, Turkish firms to explore opportunities

Doha: Over 1,500 Qatari and Turkish companies participated at the online Qatar-Turkey Business Forum yesterday which was presided over by Qatar Chamber (QC) Chairman Khalifa bin Jassim Al Thani and VicePresident of the Union of Chambers and Commodity Exchanges of Turkey (TOBB) Selcuk Oztürk. 

QC’s First Vice Chairman Mohamed bin Towar Al Kuwari and QC Second ViceChariman Rashid bin Hamad Al Athba and other board members and officials including Qatar’s Ambassador to Turkey H E Salem bin Mubarak Al Shafi and Turkey’s Ambassador to Qatar H E Mehmet Mustafa Göksu, also attended 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 a large turnout and business meetings from many Qatari and Turkish companies. 

Speaking during the event, Ozturk reiterated that Qatari investments in Turkey stood at $22bn last year, while Turkish investments in Qatar reached $122m. Turkey came in the fourth place for Qatari imports in the first half of this year. He also stressed that there are 179 Qatari companies operating in Turkey in various fields, while Turkish companies in Qatar are participating in many projects related to the FIFA World Cup 2022 and other projects such as Hamad Airport and Al Thumama Stadium. 

Ozturk went on to highlight that Turkish companies are eager to explore investment opportunities available in the Qatari market and in building partnerships with their Qatari counterparts. Earlier in his speech during the opening of the forum, Sheikh Khalifa stressed the forum’s importance in bolstering cooperation between Qatari and Turkish businessmen and promoting trade exchange and investment opportunities available in both sides. 

He 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. He added that trade volume between both countries registered substantial growth during the first half of the year, which reflects growing alliances and partnerships between business sectors. 

“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. The country 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. Qatar offers plenty of opportunities that attract Turkish investors,” Sheikh Khalifa added. 

For his part, Qatar’s Ambassador to Turkey Salem bin Mubarak Al Shafi, pointed out that the signing of the Joint Strategic Committee in 2014 has contributed to the expansion of cooperation between both countries. He added that the joint commercial agreements between both sides helped investors in both countries, and contributed to raising the volume of investments, whether governmental or private sector projects. 

He added that 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 challenges that may hinder growth in trade exchange between both countries. 

Turkey’s Ambassador to Qatar Mehmet Mustafa Göksu, 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, presentations about investment and trade were delivered by both sides. Talal Ahmad Al Mahmoud, Strategy Analyst at Qatar Investment Promotion Agency, highlighted the economic incentives offered by Qatar. He noted that Qatar is expected to remain strong and stable during the next year. 

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

Fahad Al Kuwari, Markets Manager of Qatar Free Zones Authority, highlighted 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, Lale ERAY, Head of Department of Ministry of Industry and Technology, introduced a presentation on the investment programmes offered by the Turkish Government to foreign companies, customs tax exemption system up to five years, added tax to foreign investors and how to apply for the programme, 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 $220bn from 2003 to date.