Increasing Trade Volume Between Countries

The facts show a stable increase in trade between Turkey and Qatar and the deepening of economic ties. In fact; the trade volume between Qatar and Turkey has developed from $710 Million in 2016 to $1.4 Billion in 2018. The strong ties between both countries have also shown itself in the number of tourists that visit Turkey amounting to a 97% increase in the number of tourists visiting Turkey to a total of 96.000 tourists in the year 2018.

The recent contracting projects that was undertaken by Turkish Companies in Qatar include the Hamad Airport that was undertaken by Turkish TAV construction and Japanese Taisei Corporation, Al Khor Expressway; undertaken by the Turkish Company Tekfen and Al Thumama that is under construction for the 2022 World Cup and many others.

Similarly, a number of pioneer companies in respective sectors are owned by Qatari shareholders in Turkey. Most recently, Mayhoola Investment Group has acquired the majority stake in Turkish luxury department store Beymen, for a total of $405 Million. Moreover, some of the major companies in the Turkish Market including Digiturk(Bein), Finansbank(QNB) and A Bank(Commercial Bank)’s major stakeholder being Qatari investors.

FDI Incentives in Turkey

Turkey’s new investment law scheme provides altering benefits to FDIs from VAT and Customs Duty exemptions to social security premium support depending on the value and the location of the investments in various sectors including but not limited to the electronics, telecommunications, transportation, shipbuilding sectors and services such as health and education.

Moreover; establishment of a company in Turkey is both quick and effortless, once the required files are completed; a company would start to operate in less than 5 days.  Should the foreigners determined by the Ministry of Industry and Technology that have invested into a fixed capital at least in the amount of USD 500.000,00 or equivalent foreign currency or Turkish Lira would be a Turkish Citizen due to this investment.