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Qatar and Turkey finalise financial trade deal

November 11, 2016 at 12:30 pm

Turkish Deputy Prime Minister Mehmet Simsek (L) and Qatari Minister of Economy and Commerce Sheikh Ahmed Bin Jassim al-Thani (R) attend the 6th Session of the Turkish-Qatari Joint Commission on Economic and Technical Cooperation Signing Ceremony in Istanbul, Turkey on 10 November 2016 [Şebnem Coşkun/Anadolu]

Turkey and Qatar yesterday agreed to cooperation to further develop their political and economic relations.

The two signed a memorandum of understanding inked by Turkey’s Deputy Prime Minister Mehmet Simsek and Qatar’s Economy and Trade Minister Sheikh Ahmed Bin Jassim Al Thani in Istanbul.

“Many topics decided today, for example the signing of an agreement over cooperation on fairs and free trade zones, actually came on the agenda in the 5th Joint Economic Commission,” Simsek said.

“With [Thursday’s] 6th Joint Economic Commission we finalised these memoranda of understanding,” he added.

Regarding a proposed free trade agreement, Simsek said they expected bilateral trade volume between the two countries to rise to much higher levels once the deal is signed.

He said as of now there are 99 companies with Qatari co-partners in Turkey and this number is expected to increase in the coming years.