The “Declaration of Intent on Facilitating Trade” signed not too long ago between Türkiye and Qatar is anticipated to play a facilitating function in reaching the $5 billion commerce goal between the 2 international locations and growing new cooperation alternatives, in accordance with a prime official on Saturday.
Eight agreements had been signed between Türkiye and Qatar within the presence of President Recep Tayyip Erdoğan and the emir of Qatar, Sheikh Tamim bin Hamad Al Thani, who was visiting Ankara not too long ago.
One of the agreements signed by the related ministers was the “Declaration of Intent on Trade Facilitation.”
The settlement is anticipated to contribute to additional growing Türkiye’s financial relations with Qatar, growing mutual investments, strengthening ties with the business neighborhood and advancing the event of each nations.
Trade Minister Ömer Bolat additionally offered an evaluation relating to the signed settlement to Anadolu Agency (AA) on Saturday.
Bolat famous that Türkiye is taking steps to simplify and expedite customs and overseas commerce transactions consistent with the “World Trade Organization (WTO) Trade Facilitation Agreement” and is finishing up initiatives that pave the way in which for the business world domestically and internationally.
Highlighting the significance of the Middle East and Gulf areas, he famous that Türkiye is targeted on strengthening cooperation to facilitate commerce and improve bilateral financial relations with these areas.
He emphasised that the “declaration of intent” signed between Türkiye and Qatar outlines the framework for efforts to speed up and simplify customs and overseas commerce procedures.
“This agreement marks the first step toward facilitating trade between the two countries. Türkiye and Qatar have demonstrated a commitment to enhancing dialogue and coordination in foreign trade processes,” he stated.
Bolat defined that the settlement goals to make sure seamless commerce stream by figuring out and eliminating obstacles in overseas commerce processes.
“With the agreement, it is planned to share experiences and best practices related to trade facilitation measures. This new dialogue aims to make customs and foreign trade transactions more efficient, digitize procedures for faster completion, reduce bureaucratic barriers in transportation and transit passages, and create a favorable environment for the business community,” he stated.
“Leveraging new technological solutions to establish a more transparent, predictable and secure trade system is also one of our main objectives,” he added.
Joint digital platforms
Bolat additionally talked about that the 2 international locations might set up joint digital platforms, which might contribute to creating the infrastructure wanted for the net sharing of paperwork, monitoring of customs procedures and real-time administration of commerce information.
He added that joint working teams could possibly be fashioned to enhance processes on the border gates of each international locations, and new procedures could possibly be developed to make sure uninterrupted logistics operations.
Bolat famous that financial relations with Qatar have gained momentum lately, with the bilateral commerce quantity reaching $1.3 billion final 12 months and $933 million within the first 10 months of this 12 months.
Recalling the $5 billion commerce quantity goal with Qatar, Bolat stated: “With the signed Declaration of Intent, trade between Türkiye and Qatar will become even easier, procedures will be simplified, and this will contribute positively to our foreign trade.”
Turkish contractors
Bolat additionally touched upon the present commerce relations with Qatar, stating that Turkish contractors have undertaken 198 initiatives price $20.3 billion within the nation up to now.
He talked about that Turkish corporations have not too long ago taken on large-scale metro, freeway, navy facility and airport enlargement initiatives in Qatar.
“We foresee significant opportunities for our companies, especially in the North Field Expansion Project for natural gas,” Bolat stated.
The minister additionally famous that Qatar’s direct funding inventory worth in Türkiye stands at $4.9 billion, whereas whole direct funding from Türkiye to Qatar is round $48 million.
Turkish corporations are energetic in Qatar in sectors similar to protection, textiles, electrical cables and companies, together with restaurant administration, he stated.
“In this context, our mutual efforts continue to raise these figures to higher levels,” he concluded.
Source: www.dailysabah.com