Türkiye and Qatar strengthened their economic ties during a high-level meeting in Istanbul, focusing on investment, trade, energy cooperation, and aviation, concluding with a memorandum of understanding to enhance bilateral collaboration.
Turkish Treasury and Finance Minister Mehmet Şimşek met his Qatari counterpart, Ali bin Ahmed Al Kuwari, in Istanbul on Thursday for the latest session of the Türkiye-Qatar Joint Economic Commission.
The meeting underscored the growing economic ties between the two nations, with discussions centring on investment, project financing, green growth, and aviation cooperation.
During the opening remarks, Şimşek expressed gratitude for Qatar’s support following the February 2023 earthquake in southeastern Türkiye.
He highlighted the importance of strengthening economic cooperation, emphasising that both countries were committed to increasing mutual investments, expanding trade opportunities, and enhancing collaboration in key sectors such as housing, real estate, and large-scale infrastructure projects.
“The aim of this high-level dialogue is to strengthen the deep-rooted relations between Türkiye and Qatar,” he stated, adding that efforts would also focus on boosting export financing and fostering sustainable economic growth, according to the Turkish Hurriyet Daily.
He further stressed the strategic advantages Türkiye holds in global trade, citing its Free Trade Agreements (FTAs) with 54 countries, which provide access to a market worth $30 trillion, including the European Union.
According to Şimşek, such regional integration is a crucial safeguard against trade vulnerabilities, particularly in the face of increasing global economic fragmentation.
Al Kuwari reflected on the progress made during last year’s discussions in Ankara, noting that the economic relationship between Türkiye and Qatar had strengthened significantly over the years.
He pointed to successful joint ventures and investment projects, particularly in the energy sector.
“Our energy cooperation has seen significant growth and contributed to the economies of the two countries, particularly through liquefied natural gas (LNG) deals, namely the 2015 LNG deal, which was a crucial step in reinforcing our long-term commitments,” he said.
He also addressed the ongoing negotiations surrounding the Türkiye-Gulf Cooperation Council (GCC) Free Trade Agreement, describing it as an essential step towards increasing trade and investment flows.
Once finalised, the agreement is expected to open new markets, reduce trade barriers, and create a more conducive environment for businesses in both countries and the wider region.
Concluding the meeting, the two ministers signed a memorandum of understanding (MoU) to further enhance bilateral cooperation, reaffirming their commitment to strengthening economic ties and exploring new avenues for collaboration.
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