10 billion dollar investment: JETCO Protocol was signed between Türkiye and Qatar

10 billion dollar investment: JETCO Protocol was signed between Türkiye and Qatar


The friendly relationship between Ankara and Doha, which has been going on for years, is gaining momentum with the mutual visits of the leaders.

The 1st meeting of the Turkey-Qatar Economy and Trade Joint Commission (JETCO) was held at the Presidential Dolmabahçe office.

Following the inter-delegation meeting held closed to the press, Minister of Commerce Ömer Bolat and Qatar Minister of Commerce and Industry Sheikh Mohammed bin Hamad bin Qassim Al Abdullah Al Thani signed the JETCO protocol.

“A new momentum was gained thanks to the leaders”

In his speech, Minister Bolat stated that Qatar is one of Turkey’s most important trade partners in the Gulf region, and that a new momentum has been achieved in bilateral relations with the efforts of governments and political leaders, ensuring that the two countries continue their relations as strategic partners.

Stating that they believe that they will reflect the positive momentum achieved in bilateral political relations on the occasion of the Turkey-Qatar 1st Term JETCO meeting, to economic and commercial relations, Bolat said, “Turkey-Turkey, whose technical negotiations were held throughout January and which we have just reviewed with the Minister in all its commercial and economic dimensions, “I would like to state that the Qatar 1st Term JETCO Meeting was extremely productive. We consider this meeting as an extremely useful mechanism in which we discuss all our economic relations in depth and evaluate new opportunities in our commercial relations, with the active participation of our private sector companies.” he said.

Bolat stated that they were pleased with the inclusion and participation of private sector representatives in this very important bilateral cooperation mechanism and continued as follows:

We attach great importance to holding these meetings regularly and monitoring their results carefully. The 1st Term JETCO Protocol, which we have just signed, covers bilateral commercial relations, mutual investments, contracting services and cooperation in third countries; It is a reflection of our very constructive discussions and agreements on many different areas, from green transformation to customs issues and activities that will improve trade.

“Our bilateral trade volume will reach approximately 1.3 billion dollars”

Emphasizing that this meeting is an extremely important meeting to improve bilateral trade and economic relations and cooperation while there is stagnation in production and trade around the world, Bolat said, “On the other hand, we also brought together representatives of the business world on the occasion of our Turkey-Qatar 1st Term JETCO meeting. 2023 “Our bilateral trade volume reached approximately 1.3 billion dollars in 2019, and I believe that this figure will rise much higher with the Turkey-Qatar Trade and Economic Partnership Agreement, which will come into force very soon.” said.

“We are pleased to see that Qatar is evaluating investment opportunities in our country.”

Bolat pointed out that another potential heading in the economic relations between Turkey and Qatar is mutual investments, and said that the investments of Qatari companies in Turkey have reached 10 billion dollars.

Explaining that Turkey attracts investments from Qatar, especially in the fields of climate change, energy, water and food security, as well as energy, health, tourism, transportation, infrastructure, finance and tourism, Bolat continued his words as follows:

We are pleased to see that Qatar is evaluating investment opportunities in our country. I would like to express once again that we wish to see more Qatari investments in our country, both with our technological infrastructure and qualified human capital. Before coming to this meeting, we also had a bilateral meeting with Mr. Minister Al Thani. During our meeting, we comprehensively evaluated issues such as bilateral trade and investments, as well as renewable energy, the contracting sector, and cooperation in third countries. I would like to thank them once again for their interest in our joint work and their constructive attitude.

I would especially like to emphasize that, as Turkey, we will closely follow the implementation of all the issues included in the JETCO 1st Term Memorandum of Understanding in order to ensure that they are implemented in a timely and complete manner and will make every effort necessary in this direction. It also gives us great pleasure to see the same determination in the Qatar government on this issue.



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