Doha, 10 Oct 2024

Minister of Treasury and Finance of the Republic of Türkiye, Mehmet Şimşek, highlighted the robust relationship between Qatar and Türkiye during a meeting titled 'Business and Investment Opportunities in Türkiye' held at Hotel Rixos Gulf Hotel Doha.

Present on the occasion were Chairman Qatar Chamber of Commerce, Sheikh Khalifa bin Jassim Al Thani; Chairman Qatar Businessmen Association, Sheikh Faisal bin Qassim Al-Thani; Ambassador of Turkiye to State of Qatar, Dr. Mustafa Goksu; Furkan Karayaka, Vice Presiden, Investment Office of the Presidency of the Republic of Türkiye; leading Qatari business community members; members of the business community; members of media; and guests.

Turkish Minister Şimşek said that political relations between Qatar and Turkiye are excellent. We are working to further develop our relations in a way that benefits both parties and expands the economic dimension.

He added that a Government-to-Government summit will be held between our countries soon. At this summit, 'we will continue our work in many areas, from energy to technology, tourism to manufacturing. We will enhance our relations through a Working Group. We are determined to maximize the potential for cooperation'.

He said that in the early 2000s, Turkiye's per capita income was $3,000; as of 2023, it has exceeded $13,000. Turkey's potential is very high. While the global economy has grown 2 times in real terms over the last 20 years, countries similar to ours have grown 2.2 times. Turkey, on the other hand, has grown 3 times and has entered the league of trillion-dollar economies, he said.

He also emphasized on the current favorable conditions for deepening business ties and encouraged Turkish businesses to invest in Qatar, particularly in manufacturing and other sectors. He outlined Türkiye's ambitious economic strategy aimed at tackling inflation, reforming financial balance, and achieving structural transformation, following challenges faced last year.

He forecasted a decline in inflation to below 10% and noted a significant increase in Central Bank reserves by 95%, projecting a reduction in fiscal deficits in the coming years.

Furthermore, Minister Şimşek reported substantial improvements in access to global capital markets, with rating agencies like Moody’s and Fitch upgrading Türkiye’s credit rating. He stressed the government’s commitment to enhancing the investment environment to attract more foreign investment.

Minister of Treasury and Finance of Turkiye said that Turkey is rising as a global production and service hub. 'We are the number one producer of white goods in Europe and the second in the world. We lead Europe in commercial vehicles, solar panels, cement-ready concrete, flat glass, steel production, and agricultural output'.

He said that the world is now talking about Turkey in the defense and aerospace industry. The defense industry is not only transforming one sector but also enabling significant leaps in other sectors. We are determined to transform our industry. We are planning this transformation to climb higher in global value chains. Both our infrastructure and our human, he stressed.

Sheikh Khalifa bin Jassim Al Thani, Chairman Qatar Chamber of Commerce in his address praised the strong ties between Qatar. He noted that trade between the two nations reached QR 4.75 billion in 2023.

He expressed the Chamber’s dedication to fostering partnerships and urged Qatari investors to explore opportunities in Türkiye, while also inviting Turkish investors to consider sectors in Qatar such as energy, tourism, real estate, agriculture, and food, emphasizing the country's favorable investment climate and infrastructure.

Earlier in his welcoming and opening remarks, Dr. Mustafa Goksu, Ambassador of Türkiye in Doha, reinforced the commitment to enhance commercial and economic cooperation between both nations and highlighted the initiatives taken to improve the business landscape.

Furkan Karayaka, Vice President of the Investment Office of the Presidency of the Republic of Türkiye, expressed confidence in Türkiye’s economic trajectory due to strong leadership and reforms. He assured the audience of the Investment Office’s role in facilitating Qatari investments in Türkiye, signaling a promising future for collaboration between the two countries.

The event was conducted by Abdullah Deniz, PhD (C), Country Advisor Qatar, Office of the Presidency of the Republic of Turkiye Investment Office, QFC Doha followed by serving the generous Turkish cuisine dishes.