Trade between Turkey and Arab states has increased 250 per cent over the past decade but more can be done to improve these numbers, the Turkish-Arab Chambers of Commerce said during a held a two-day meeting.
During the conference, which began on Tuesday in the Turkish town of Antalya, Turkish-Arab Chamber (TAC) Co-Chairman and the Union of Chambers and Commodity Exchanges of Turkey (TOBB) President Rifat Hisarciklioglu said: “10 years ago the trade volume between Turkey and Arab countries was $20 billion. Last year, this figure exceeded $50 billion. But there is still a long way to go.”
On its part, the Qatar Chamber (QC) said trade between Arab countries and Turkey is still below the level of their capabilities.
Increasing cooperation between the private sectors in both areas and establishing mutually beneficial investments were highlighted as areas which could help trade grow.
Trade between Qatar and Turkey grew 85 per cent in 2018 to reach $2.4 billion, up from $1.3 billion a year earlier. The rise follows a Saudi, UAE, Bahrain and Egypt imposed air, sea and land blockade of Qatar in June 2017 which forced the Gulf state to find alternative trade partners to meet its inhabitants’ needs.