Turkish Ambassador to Doha, Fikret Ozer, said Monday that the trade volume between Qatar and Turkey increased by over 46 percent by the end of 2017, compared to the same period of 2016, to reach $1.3 billion.
In a seminar on “Qatar-Turkey Trade and Investment Opportunities”, attended by Ozer, Turkey’s Metcap Energy Investments and Qatar’s Fusion Dynamics signed a deal to invest more than $5 billion in energy and petrochemical industry.
Following the Arab boycott of Qatar on June 5, 2017, Qatar and Turkey have seen a boost in trade and military ties. Turkish-led newspaper, Zaman, reported in 2017 that Qatar will pump $19 billion worth of investments into the Turkish economy.
Some experts on Turkish-Qatari relations said that Qatar is believed to be doubling its investments in Turkey in 2018 to amount to $20 billion by injecting new investments worth $19 billion; in addition to the existing $18 billion investments in various fields including tourism, energy, telecommunications, food industry, health, insurance, banking, and military industries, according to media reports. For his part, President of the Middle East Economic Forum Arden Ozil said that the Turkish market serves as a safe haven for Qatari investments, especially in light of the continued economic embargo imposed on Qatar by Egypt, Saudi Arabia, the United Arab Emirates (UAE) and Bahrain since June.