[REVISION HISTORY]

Turkey-Qatar and Turkey-Syria economic relations

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2026-08-26 14:04 UTC → 2026-08-26 21:27 UTC · added ~~removed~~

Turkish Trade Minister Ömer Bolat is actively working to expand bilateral economic ties with both Qatar and Syria. Regarding Qatar, Bolat met with Minister of State for Foreign Trade Ahmad Bin Mohammed Al-Sayed to pursue a $5 billion annual trade target. Bilateral trade has seen significant long-term growth, increasing 53-fold over the last 21 years to reach $1.3 billion last year. Economic cooperation remains anchored in construction and investment. Turkish contractors have completed approximately 206 projects in Qatar totaling $21 billion, while around 250 Qatari firms have invested $7.8 billion in Turkey across sectors such as finance, energy, logistics, and agriculture. To mitigate supply chain bottlenecks caused by regional conflicts, both nations are seeking to strengthen alternative logistics routes. In parallel, Bolat is spearheading efforts to increase trade with Syria. During ~~the 63rd Damascus International Fair, he met with~~ a recent business ~~leaders~~ delegation to ~~discuss~~ Damascus, which included participation in the Damascus World Economic Forum, officials discussed raising bilateral trade volume from approximately $3.7 billion to a medium-term target of $10 billion. Discussions centered on enhancing economic ~~integration, modernizing customs, establishing joint industrial zones, and creating transit corridors that connect the Middle East and Gulf regions~~ integration through ~~Turkey and Syria. Bolat noted that political~~ improved customs cooperation and ~~security progress in Syria~~ the modernization of border crossings. A significant development is the expected opening of the Nusaybin-Kamishli border gate by the end of the year, intended to facilitate transit trade toward Iraq and the ~~lifting~~ Gulf region. Syrian officials, including the head of ~~embargoes and encourage~~ the Investment Agency, emphasized the need for large-scale investment in energy, infrastructure, real estate, tourism, and ~~reconstruction.~~ agriculture. Further proposals include the potential establishment of Turkish banks in Syria and the creation of joint industrial zones in the border region to foster production and employment.

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