Qatar and Türkiye Aim for $5 Billion Bilateral Trade Target

Doha, Qatar Aug 25, 2026 ALN: Doha and Ankara aim to expand trade and investment, with Qatar signalling further investment in Türkiye.

Qatar and Türkiye are targeting more than $5 billion in bilateral trade as they seek to deepen economic and investment ties in the coming years. This ambitious target was announced by Qatar’s Minister of State for Foreign Trade Affairs at the Ministry of Commerce and Industry, Ahmed bin Mohammed Al-Sayed, following a series of meetings held in Ankara on Monday. The discussions come at a time when both countries are looking to enhance their economic cooperation, particularly in light of recent global economic challenges.

A Qatari state delegation led by Al Sayed met with Turkish Trade Minister Ömer Bolat and Treasury and Finance Minister Mehmet Şimşek in the Turkish capital to explore various avenues for strengthening economic collaboration. “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 noted in a post on X, highlighting the importance of ongoing dialogue between the two nations.

Trade relations between Qatar and Türkiye have seen remarkable growth over the past two decades. According to Bolat, Qatar-Türkiye relations have “made tremendous progress,” with a staggering 53-fold increase in bilateral trade recorded since the year 2000. This growth trajectory reflects not only the strengthening of ties but also the strategic economic partnerships that have developed in various sectors.

Significantly, trade between the two countries peaked at $2.5 billion during the preparations for the 2022 FIFA World Cup in Qatar. This surge was largely driven by extensive construction projects, showcasing the potential for collaboration in infrastructure and development. The two delegations are now focused on sustaining this momentum and working towards the ambitious $5 billion trade target.

In their meetings, the delegations also discussed the importance of establishing robust supply chains, enhancing trade corridors, and exploring opportunities for the private sector. The discussions underscored the need for both countries to be proactive in identifying and capitalizing on mutual economic interests, especially in light of ongoing global economic shifts.

Under the Trade and Economic Partnership Agreement (TEPA), which is set to come into effect in 2025, Qatar and Türkiye are working to create new opportunities for businesses and expand access to each other’s markets. This agreement is expected to facilitate smoother trade relations and provide a framework for future economic collaboration, which is crucial in an era where geopolitical tensions and economic uncertainties can disrupt traditional trade flows.

The relationship between Qatar and Türkiye is already marked by significant two-way investment. Nearly 250 Qatari companies have invested a total of $7.8 billion in Türkiye, spanning various sectors including finance, banking, energy, logistics, media, and agriculture. This level of investment highlights the confidence that Qatari businesses have in the Turkish market and the potential for further growth in these sectors.

Conversely, around 1,116 Turkish companies are currently operating in Qatar, particularly in the construction, services, and manufacturing sectors. Turkish contractors have undertaken 206 projects in the Gulf state, with a combined value of $21 billion, further solidifying the economic ties between the two nations. The presence of Turkish companies in Qatar is indicative of the strong bilateral relations and the mutual benefits derived from such partnerships.

During the recent meetings, there was also a clear indication of Qatar’s interest in expanding its investment footprint in Türkiye. Bolat confirmed that Al-Sayed conveyed Doha’s intent to increase its investments, with the Gulf state’s sovereign wealth fund, the Qatar Investment Authority, already exploring new initiatives within the Turkish market. This interest aligns with Qatar’s broader strategy to diversify its investment portfolio and enhance its influence in key global markets.

Another critical topic of discussion was the need to strengthen alternative trade and transport corridors. This is particularly pertinent given the ongoing disruptions to regional shipping routes, notably following the closure of the Strait of Hormuz due to the ongoing U.S.-Iran conflict. Both sides acknowledged the importance of establishing stronger and more stable transit and trade corridors to ensure the uninterrupted flow of goods and services between the two nations.

In conclusion, the meetings between the Qatari and Turkish delegations reflect a shared commitment to enhancing bilateral trade and investment. The mutual desire to achieve a $5 billion trade target signifies a strategic partnership that could yield significant economic benefits for both countries. As Qatar and Türkiye navigate the complexities of the global economy, their collaborative efforts may serve as a model for other nations seeking to strengthen economic ties in a rapidly changing geopolitical landscape. Bolat also confirmed the two sides’ “mutual commitment” to holding the second Türkiye-Qatar Joint Economic and Trade Commission meeting in the “near future,” indicating that both countries are keen to maintain the momentum of their discussions and turn their ambitions into tangible outcomes.