Fourth session of the joint Qatari-Turkish committee for commercial cooperation

April 03, 2011

Under the distinguished relations that join the State of Qatar and Republic of Turkey, the Ministry of Business and Trade has known this morning, Monday 14 March 2011, meetings of the fourth session of the joint Qatari-Turkish committee for commercial, economic and technical cooperation. The Qatari side was headed by HE Sheikh Jassim Bin Abdualziz Al Thani, the Minster of Business & Trade, while the Minister of Finance Mr. Mehmet Simsek headed the Turkish side.
The meetings are intended to address ways to boost the bilateral cooperation between the two countries, in the different fields, especially the economic, commercial, investment, technical and financial domains, for the benefit of the two countries in particular, and the regional countries in general.
Moreover, HE Sheikh Jassim Bin Abdualziz Al Thani, the Minster of Business & Trade, insisted during a press statement the keenness of both countries to strengthen the bilateral relation in the commercial and investment domains, as an application of the directives of HH the Emir Sheikh Hamad bin Khalifa Al Thani, and Mr. Abdullah Gul, the President of the Republic of Turkey.  
HE stated that the relations between the two countries has known a remarkable development during the last period, which was represented in signing several agreements and deals in different fields. HE added that this continuing progress requires us to find new developed mechanisms that keep pace with the development of the relations between the two countries, as well as to activate the economic, commercial and investment partnership between them. In addition, HE praised the volume of trade exchange between the two countries, and which reached about half a billion dollars in 2009. HE insisted as well on the importance of building strategic relations with Turkey in the various fields, as well as on the establishment of new investment projects, in light of the opportunities open to both sides, through the stimulation of the private sector to develop these relationships in a way that serves the bilateral interests, and maximizes the benefits from the agreements signed between both sides, towards the implementation of the plans and programs for sustainable development.         
During the meeting, the two sides signed as well the recommendations and the record of the joint Qatari-Turkish committee for commercial, economic and technical cooperation, which aim to strengthen the cooperation in various fields directed to advance the work of the different sides responsible of the development of the economic and commercial relations between the two countries, especially amid the progress and evolution that know the bilateral relations.
Furthermore, HE noted the importance of the outcome of the meetings of this committee, from positive outputs and recommendations directed towards setting effective mechanisms for the development and the expansion of the participation of the private sector in both countries, during the coming period. HE noted as well the importance of the role that private sector can play in the two countries, concerning the advancement of the bilateral cooperation, inviting to benefit from the agreements and the memorandum of understanding and cooperation signed between the two countries, in the fields of economy, trade and technique, in order to implement the plans and programs for sustainable development. HE noted as well the importance of activating the role of businessmen and Chambers of Commerce and Industry in both countries, through the exchange of visits and experiences.
It shall be mentioned also that the State of Qatar and Turkey are related by the Agreement on Economic and Technical Cooperation signed in 1985, as well as the agreement of the avoidance of double taxation and the treaty for the protection and promotion of investments that were signed in 2001. We should mention also the Memorandum of Understanding on cooperation with the Qatari Investment Fund, signed on 11/06/2008, which includes the different fields of cooperation, in the time that Qatar participates with the Gulf Cooperation Council countries in negotiations to sign a Free trade agreement with Turkey.   
HE the Minster of Business & Trade has praised the strength and durability of the Turkish economy, which was not highly affected by the global economic and financial crisis, especially that Turkey has succeeded in the raise of its Gross Domestic Product to reach 618 billion dollars. Between the most important natural resources in Turkey: Coal, chromium, mercury, copper, boron, oil and gold. The agricultural sector produces about 9.3% of the GDP, and between the most important crops are: tobacco, cotton, beets, nuts, wheat, barley, grain, olives, and citrus. Turkey is considered to be one of the most important producers of nuts in the world. As for the industrial sector, it produces about 25.6% of the GDP, and between the most important industries: automobiles, textiles, electrical and electronic appliances, food, textiles and basic metals processing, chemicals and petrochemicals. As for the services sector, it produces 58.5% of Turkey Gross National Product. The Information and Communication Technology (ICT) sector constitutes a fundamental basis in the economy, and during the last decade, the ICT sector has known a raise of 130%.
Turkey has become one of the fast developing energy markets in the world, in parallel with the economic development that had known in the last eight years, thing that may make from Turkey a probable future power plant in its region.