Turkiye’s Trade Minister Highlights Strategic Committee’s Role in Enhancing Qatar-Turkiye Economic Ties.

DOHA: Turkiye's Trade Minister has underscored the pivotal role of the Qatari-Turkish Supreme Strategic Committee in strengthening bilateral economic relations between the two nations. Both countries are actively exploring avenues to boost joint investments, with the minister revealing that they are nearing the conclusion of technical negotiations to sign new agreements and protocols aimed at expanding cooperation across a wide range of sectors. According to Qatar News Agency, the Trade Minister, Bolat, elaborated on the bilateral agreements and protocols, which include initiatives to streamline trade, enhance cooperation in contracting services in third countries, and focus on consumer protection, market monitoring, auditing, technical regulation, standardization, accreditation, and compliance. These efforts underscore both nations' commitment to global cooperation. Bolat noted the growing interest among Qatari and Turkish investors and companies to collaborate on joint projects in third countries, which co uld significantly enhance investment and trade cooperation between the two countries. Bolat further mentioned that the upcoming 10th Supreme Strategic Committee is expected to bolster mutual investments and facilitate partnerships in third-country investments. This will leverage Turkiye's robust economic performance in recent years, Qatar's investment potential, and the strategic political alignment between the two nations. He highlighted that the positive high-level relations between Qatar and Turkiye serve as a guarantee for enhancing trade and investments. Key agreements such as the Reciprocal Promotion and Protection of Investments and the Avoidance of Double Taxation have played a crucial role in facilitating joint ventures. The minister reaffirmed Turkiye's support for Qatari investments, with the country's Investment Office actively assisting Qatari companies by offering guidance and removing obstacles. Similarly, Qatari authorities provide necessary support and facilities for Turkish companies. On t he potential for cooperation in technology and innovation, Bolat noted Qatar's National Vision 2030, which aims to increase investments in technology and innovation both domestically and abroad, with Qatar also showing interest in emerging investments in Turkiye. In this context, Bolat highlighted the keen interest of Qatari firms in events such as TEKNOFEST, Turkiye's largest aviation, space, and technology festival, and the Global Startup Awards (GSA) Summit 2024 held in September in Istanbul. He expressed optimism for highly successful partnerships in this field. Bolat reiterated his country's unwavering support for Qatari and Turkish companies to elevate bilateral trade and economic relations, emphasizing Turkiye's particular importance on its relations with Qatar and other GCC countries. Regarding supply chain cooperation between Qatar and Turkiye, Bolat mentioned that increased Qatari investments in production and logistics in Turkiye are poised to further enhance Turkish supply and distribution chain s. This demonstrates the positive outcomes of the Supreme Strategic Committee. Bolat also noted that the committee's decisions to support the Iraq Development Road Project would boost trade, prosperity, and welfare in the region. The Development Road Project is expected to become one of the region's most critical projects, connecting several countries in the region to Europe via Iraq and Turkiye, significantly reducing time and transportation costs.