Trade

Turkey and Qatar signed 15 new trade and cooperation agreements in the food and construction sectors and the pharmaceutical industry, Qatar’s Chamber of Commerce announced lately.

Qatar’s Chamber Acting Director General Saleh Hamad al-Sharqi said the trade deals which were agreed in principle in early August have officially been sealed.

Aside from the food and construction sectors, agreements in transport, logistics and the plastics industry were also signed, al-Sharqi said. 

Turkey’s exports to Qatar totaled $52.4 million in June 2017, while they reached $36.2 million in May 2017. Turkey’s imports from Qatar amounted to $23.7 million in June, compared to $19.6 million in May.

Turkish exports to Qatar increased 51% in August as the bilateral trade volume between the countries reached $600m in the first half of this year. Since June 5 when Qatar underwent a blockade by Arab countries, including Saudi Arabia, the United Arab Emirates, Egypt, Bahrain, and Yemen, Turkey has sent more than 220 cargo-planes of daily use items.

Turkish exports to Qatar have tripled from their normal levels to $32.5 million since four Arab countries began boycotting the Gulf state on June 5, Turkey’s Customs and Trade Minister Bulent Tufenkci also stated a while ago.

Saudi Arabia, the United Arab Emirates (UAE), Egypt and Bahrain accuse Qatar of funding terrorism, fomenting regional instability and cosying up to revolutionary theocracy Iran. Qatar has denied the accusations.

Turkey, which has long tried to play the role of regional mediator, has backed Qatar in the dispute but is also wary of upsetting its other allies, including Saudi Arabia.

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