Turkey’s exports to Qatar witnessed a 20% growth to reach $1.1bn last year, according to an embassy official.
Commercial counsellor Burak Guresci of the Embassy of Turkey in Qatar said he “is optimistic” that the transcontinental country would cap 2019 with exports “reaching around $1.3bn to $1.4bn.”
Speaking to Gulf Times on the sidelines of the recently-concluded ‘The Big 5 Construct Qatar’, Guresci said total trade between Qatar and Turkey stood at $2.3bn in 2018, or “a 14% overall growth compared to 2017.”
According to data from the Qatar Chamber, the value of projects carried out by Turkish construction companies in Qatar is estimated at $11.6bn in 2018. There were 205 Turkish companies operating in the Qatari market in 2018, of which, 186 are joint ventures infused with Qatari and Turkish capital, the chamber added.
Turkish companies operating in Qatar are engaged in various fields, including infrastructure, construction and contracting, engineering consultancy, trade, electrical work, auto spare parts, and foodstuffs, among other sectors.
Guresci said Turkey is the largest country to participate during the second instalment of The Big 5 Construct Qatar in terms of exhibition space, represented by 30 companies operating in Turkey’s building materials and construction sectors.
“They are here to help Qatari companies involved in the country’s massive development strategy and infrastructure projects by offering their products. These companies told the embassy that they share an optimistic view of the Qatari market and construction landscape.
“I have also spoken to some of the Turkish companies that participated in last year’s edition and they said The Big 5 Construct Qatar is a very positive event, which is why they decided to return to Qatar this year,” Guresci said.
Asked about potential deals to be secured during The Big 5 Construct Qatar, Guresci said, “Since the European and Turkish markets are currently experiencing some headwinds, these companies are expanding their horizons and the markets they are exporting to, so they see Qatar as a dynamic construction market.
He added, “Even if they would not secure a deal immediately, they still come here to make their presence known in the hope of creating business or investment partnerships with their Qatari counterparts.”
Dmg events president Matt Denton, who also spoke to Gulf Times on the sidelines of the event, that The Big 5 Construct Qatar brings international products, solutions, and the latest technologies to the Qatari market.
“What we've found over the years is that these international companies eventually almost become local by setting up here and find distributors and create relationships. The event is also a venue for companies to attend seminars that showcase the latest technologies, and this sits quite well with Qatar’s policy of localisation,” Denton said.
LEAVE A COMMENT Your email address will not be published. Required fields are marked*
Qatari Hotels Association holds 2nd meeting
Covid recovery, oil curbs create a split-screen Saudi economy
Dubai business growth back to pre-Covid path as vaccines pay off
Most Asian markets end mixed as US jobs report eases inflation concerns
Blackstone’s offer for Crown Resorts draws out rival Australian suitor
Qatari app to drive discovery of local businesses for added value, savings
Moody’s affirms QIIB’s long-term credit rating at “A2/Prime-1”, with a stable outlook
Doha Bank wins ‘Best Trade Finance’ award for 3rd time
QSE to remain closed for Eid al-Fitr holidays from May 12 to 16