Qatar and Türkiye set $5 billion target for bilateral trade

Doha and Ankara aim to expand trade and investment, with Qatar signalling further investment in Türkiye.Qatar and Türkiye are targeting more than $5 billion in bilateral trade as they seek to deepen economic and investment ties in the coming years, Qatar’s Minister of State for Foreign Trade Affairs at the Ministry of Commerce and Industry Ahmed bin Mohammed Al-Sayed said following meetings in Ankara on Monday.A Qatari state delegation led by Al Sayed met Turkish Trade Minister Ömer Bolat and Treasury and Finance Minister Mehmet Şimşek in the Turkish capital to discuss ways to strengthen economic cooperation between the two countries.“During these meetings, we discussed ways to enhance trade and investment cooperation, and to increase the volume of trade exchange, which reached $1.3 billion,” Al Sayed said in a post on X on Tuesday.Following the meetings, Bolat said Qatar-Türkiye relations have “made tremendous progress,” highlighting a 53-fold increase in bilateral trade over the past 21 years.The Turkish Trade Minister added that trade between the two countries peaked at $2.5 billion during preparations for the 2022 FIFA World Cup Qatar, largely driven by construction projects.The two delegations discussed expanding economic cooperation and boosting bilateral trade towards the $5 billion target.Talks also focused on supply chains, trade corridors and opportunities for the private sector.Under the Trade and Economic Partnership Agreement (TEPA), which entered into force in 2025, Qatar and Türkiye are also working to create new opportunities for businesses and expand access to each other’s markets.The relationship already includes significant two-way investment, with nearly 250 Qatari companies investing a total of $7.8 billion in Türkiye across sectors including finance, banking, energy, logistics, media and agriculture.Around 1,116 Turkish companies operate in Qatar, particularly in construction, services and manufacturing.Turkish contractors have also undertaken 206 projects in the Gulf state worth a combined $21 billion.The meetings also highlighted Qatar’s interest in further expanding its investment footprint in Türkiye.Bolat added that Al-Sayed conveyed Doha’s interest in expanding its investments in Türkiye, with the Gulf state’s sovereign wealth fund, Qatar Investment Authority, already working on new initiatives in the country.The two sides also discussed the need to strengthen alternative trade and transport corridors amid continued disruptions to regional shipping routes following the closure of the Strait of Hormuz due to the ongoing U.S.-Iran war.Bolat said Ankara and Doha would work together to establish stronger and more stable transit and trade corridors. The Turkish Trade Minister also confirmed the two sides’ “mutual commitment” to holding the second Türkiye-Qatar Joint Economic and Trade Commission meeting in the “near future,” Bolat said in a post on X on Monday.