The first JETCO meeting between Turkey and Qatar was held in Istanbul, attended by Trade Minister Ömer Bolat, Qatari Trade and Industry Minister Sheikh Mohammed bin Hamed bin Kasım Al Sani and officials from both countries.
Following the meeting, the first term JETCO Protocol was signed between Turkey and Qatar with the participation of Minister Bolat and Qatari Trade and Industry Minister Al Sani.
In his speech, Minister Bolat stated that Qatar is one of Turkey’s most important trading partners in the Gulf region and that a new dynamic has been achieved in bilateral relations through the efforts of governments and political leaders to ensure that the two countries continue their relations as strategic partners.
Bolat stated that they believe that the positive momentum achieved in bilateral political relations on the occasion of the first term JETCO meeting between Turkey and Qatar will also be reflected in economic and trade relations, saying: “Turkey -Turkey, whose technical negotiations took place throughout January.” and which we have just discussed with the Minister in all its commercial and economic dimensions: “I would like to say that the first JETCO meeting in Qatar was extremely productive. We see this meeting as an extremely useful mechanism where we discuss all our economic aspects. “We are deepening our relations and evaluating new opportunities in our business relationships with the active participation of our private sector companies,” he said.
“The JETCO Protocol is a reflection of our constructive discussions and agreements.”
Bolat stated that they are satisfied with the involvement and participation of private sector representatives in this very important bilateral cooperation mechanism and continued:
“We make it a point to hold these meetings regularly and monitor their outcomes carefully. The 1st Term JETCO Protocol that we just signed covers bilateral trade relations, mutual investment, contractual services, cooperation in third countries, green transformation, customs issues, etc. Activities that will improve trade. This reflects our very constructive discussions and agreements in many different areas.
We have included in our JETCO Protocol the need to increase cooperation and visits between our private sectors to develop bilateral trade relations and investment opportunities and that our contractors are ready to undertake major infrastructure and superstructure projects in Qatar under the Qatar Agreement to carry out Vision 2030. “In addition, we noted that we are ready to cooperate in the areas of tourism and health tourism, which are the most important components of our service sector, and that our authorized institutions are ready to cooperate with their Qatari counterparts in the areas of standardization, Accreditation and measurement technology to ensure that these issues are put into practice as quickly as possible.”
Bolat stressed that this meeting is an extremely important meeting to improve bilateral trade and economic relations and cooperation at a time when production and trade are stagnating around the world, saying: “On the other hand, we also brought together representatives of the business community” on the occasion of our first JETCO meeting between Turkey and Qatar. 2023 “Our bilateral trade volume reached about $1.3 billion in 2019, and I believe that this number will rise much higher with the entry into force of the Turkey-Qatar Trade and Economic Partnership Agreement.” force very soon. said.
“We are pleased that Qatar is exploring investment opportunities in our country.”
Bolat pointed out that another potential focus in Turkey-Qatar economic relations is mutual investments, saying that Qatari companies’ investments in Turkey have reached $10 billion.
Türkiye; Stating that he is attracting investments from Qatar, particularly in the areas 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 that Qatar is exploring investment opportunities in our country. I would like to reiterate that we want more Qatari investment in our country, both in our technological infrastructure and in our skilled human capital.” Before I come to this meeting We also had a bilateral meeting with Minister Al Thani. During our meeting, we comprehensively assessed issues such as bilateral trade and investment, renewable energy, contracting sector, cooperation in third countries, etc. I would like to thank you again for your interest in our joint work and your constructive attitude.
I would like to particularly emphasize that we as Turkey will closely monitor the implementation of all issues included in the JETCO First Term Memorandum to ensure that they are implemented in a timely and full manner and will make all necessary efforts in this direction. “It is also a great pleasure for us to see the Government of Qatar showing the same determination on this issue.”