Türkiye and Qatar have agreed to additional deepen their business and financial relations by increasing present cooperation and enhancing the commerce quantity, fostering new collaboration that can profit either side, Trade Minister Ömer Bolat mentioned Thursday.
He held the assembly with Qatar’s Commerce and Industry Minister Sheikh Mohammed bin Hamad Al Thani in Istanbul.
Meanwhile, the inaugural assembly of the Türkiye-Qatar Joint Economic and Trade Commission (JETCO) was held with the participation of representatives of each international locations’ private and non-private sectors.
Following the assembly, the 2 international locations signed the JECTO settlement.
The JETCO Protocol encompasses numerous areas, together with bilateral commerce relations, mutual investments, collaboration in third-country development companies and cooperation on points starting from inexperienced transformation to customs procedures, Bolat mentioned in a written assertion on X, previously Twitter.
“We have outlined a road map to surpass our bilateral trade volume, which has increased by more than 50 times in the last 20 years with Qatar, aiming to exceed the $5 billion (TL 153.41 billion) target set by our leaders,” he added.
“We are determined to elevate our strategically founded friendly relations with Qatar to even greater heights through economic and trade initiatives.”
Highlighting the significance of the personal sector’s involvement the minister voiced the necessity for rising collaboration and visits between international locations’ personal sectors to boost bilateral commerce relations and funding alternatives inside the framework of JETCO Protocol.
“Furthermore, we underline the readiness of our contracting firms to undertake major infrastructure and superstructure projects in Qatar within the context of Qatar’s 2030 Vision,” he mentioned.
The minister additionally recalled that in 2023 the bilateral commerce quantity between the 2 international locations reached roughly $1.3 billion and expressed perception that the Türkiye-Qatar Trade and Economic Partnership Agreement, set to come back into impact very quickly would additional add to this determine.
Bolat identified one other potential within the financial relations between nations lies in mutual investments, and mentioned that the investments of Qatari firms in Türkiye have reached $10 billion.
He mentioned that aside from fields together with local weather change, power, water and meals safety, Türkiye has additionally attracted investments from Qatar within the well being, tourism, transportation and finance sectors and that they had been happy to see the Gulf nation evaluating funding alternatives inside the nation.
Source: www.dailysabah.com