Qatar and Türkiye Set Ambitious $5 Billion Bilateral Trade Target to Deepen Economic Ties

Doha and Ankara are moving to significantly expand their trade and investment relationship, with Qatar signaling plans for further financial commitments in Türkiye. Following high-level meetings in Ankara on Monday, officials announced a shared goal to push bilateral trade beyond the $5 billion mark.

A Qatari state delegation, led by Ahmed bin Mohammed Al-Sayed, Qatar’s Minister of State for Foreign Trade Affairs at the Ministry of Commerce and Industry, met with Turkish Trade Minister Ömer Bolat and Treasury and Finance Minister Mehmet Şimşek in the Turkish capital to strategize on strengthening economic cooperation.

“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 stated in a social media post on X on Tuesday.

Minister Bolat noted that bilateral relations have achieved remarkable progress, pointing to a 53-fold increase in trade value over the past 21 years. Trade previously peaked at $2.5 billion during preparations for the 2022 FIFA World Cup Qatar, largely propelled by construction initiatives.

The discussions also encompassed supply chains, new trade corridors, and expanded avenues for the private sector. Under the Trade and Economic Partnership Agreement (TEPA), which became effective in 2025, both nations are actively working to create new commercial opportunities and broaden market access.

Economic ties already feature robust mutual investments. Nearly 250 Qatari companies have deployed a total of $7.8 billion across Türkiye in sectors such as finance, banking, energy, logistics, media, and agriculture. Simultaneously, around 1,116 Turkish companies operate within Qatar, focusing mainly on construction, services, and manufacturing, while Turkish contractors have completed 206 projects in the Gulf state valued at a combined $21 billion.

During the sessions, Al-Sayed reiterated Doha's eagerness to broaden its investment footprint in Türkiye, noting that the Qatar Investment Authority is actively developing new initiatives. Furthermore, the two delegations addressed the necessity of establishing alternative trade and transport routes in response to regional shipping disruptions following the closure of the Strait of Hormuz amid the ongoing U.S.-Iran war. Both ministers confirmed a mutual commitment to convene the second Türkiye-Qatar Joint Economic and Trade Commission meeting in the near future.