Turkey to boost bilateral trade with Qatar, says minister

Turkey’s Minister of Economic Affairs Nihat Zeybekci said his country is willing to boost trade ties with Qatar to $1.5bn by the end of 2015.

In a speech at the Qatari-Turkish Business Forum held in the Qatari capital Doha Sunday, Zeybekci highlighted the notable rise in bilateral trade between the two countries from $24mn in 2003 to $770mn in 2013.

The Turkish minister pointed out that Turkish companies are implementing projects in Qatar worth $13.5bn agreed upon within the last decade. On the other hand, Qatari direct investments in Turkey have reached $740mn, he added.

Zeybekci reiterated Turkey’s willingness to reach an agreement that would allow his country to import liquefied natural gas from Qatar, the largest producer in the world.

He added that Turkey aspires to become among the top 10 world economies by achieving a GDP of $2tn, raising the value of its imports to $500bn and the per capita income to $25,000.

Zeybekci predicted that Turkish net exports will increase from $151.8bn in 2013 to $500bn in 2023.