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Tuesday, October 19, 2021

Turkey, Qatar set eyes on global market for Turkish products


The Turkish-Qatari joint is set to reach 47 different countries around the world. 

The online shopping website Turkish Souq, initially set up to boost trade between Turkey and Qatar, is now aiming for the global market, the Turkish Anadolu Agency reported on Wednesday.

The e-commerce website, established by Turkey’s postal service PTT and Qatar’s postal service in 2018, is expanding its services to become a global platform by which Turkish goods can be exported to 47 different countries, Turkey’s Minister of Transport and Infrastructure Adil Karaismailoglu said.

The Turkish-Qatari joint trade website “turkishsouq.com” saw an influx of Turkish products enter the Qatari market at a time when neighbouring Gulf states imposed an illegal blockade on Doha and halted all trade.

“Thanks to this cooperation, PTT has made an important initiative in the field of e-export, which is also supported by its strong logistics infrastructure, on behalf of our country and ensured the supply of approximately 300,000 products to the world market,” the minister stated. 

With the latest move, Turkish products can be exported to different countries such as England, Italy, Sweden, Portugal, Russia, Australia, Canada, and Brazil, he added.

“Everyone on earth will benefit from Turkish products,” Qatar Post chairman Faleh al-Naemi said, according to the report. 

Read also: Turkish exports to Qatar to hit $1 billion in 2021

Relations and trade between Ankara and Doha have strengthened in recent years, particularly after the 2017 blockade that came to an end earlier this year. 

In 2020, trade volume between the allies increased by 6% to reach $1.6 billion. 

On June 5, 2017, Saudi Arabia, the United Arab Emirates, Bahrain, and Egypt cut diplomatic and trade ties with Doha and imposed an illegal air, land and sea blockade that prevented the import and export of goods, including important food items.

The sudden act disrupted Qatar’s food security, which at the time relied on imported goods for more than 80% of its food.

“2017 was the year when Turkey’s exports to Qatar increased most,” said Cigdem Ulug Kutlu, partner at Turkish consulting firm, Shedu Consulting & International Trade.

In November Qatar and Turkey signed ten new agreements and finalised the sale of 10% of shares in Turkey’s stock exchange, Borsa Istanbul.during the sixth Strategic Dialogue between the two countries.

The allies also signed another MoU for joint investment in the ‘Made in Istanbul Golden Horn Project’, a prominent, historical waterway that links the Bosphorus and the Marmara seas.

Qatar’s total investments in Turkey have now reached $22 billion, with 533 Turkish companies operating in the Gulf country in numerous projects that are worth at least $18.5 billion. In turn, 179 Qatari companies currently operate in Turkey.

Qatar and Turkey have also been initiating alternative ways to strengthen bilateral relations beyond politics and economy, with particular emphasis on education.

The move is expected to increase the level of cultural and scientific cooperation between the two countries to match up with other fields, such as commercial and military.

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