Qatari & Turkish business entities sign MoU

Aiming to boost  trade and economic cooperation between Qatar and Turkey, the Qatar Business Women’s Association and Turkey’s  Industrialist Businesswomen and Businessmen Confederation signed a Memorandum of Understanding.
The agreement was signed by Aisha Al Fardan, QBWA Vice-President and  Nezaket Emine Atasoy, General President of the Turkish business confederation.
With the agreement, the two parties will cooperate to enhance business relations between private companies  in various sectors in both the countries. The officials have invited each other to participate in various business and trade events happening in their respective  countries.
“Agreement  between QBWA and Turkish association, will bring in more business between the countries. On the national level, bilateral relations between the countries have been growing, and there is increase of volume of trade exchange between the two countries,” said Al Fardan.
“Qatar is an open country for business and holds much future and growth, which is an attraction for many who come here. Since most of our QBWA members are involved in fashion and art sectors, the agreement is promising for  us,” she told The Peninsula.  
Meanwhile, Qatar could acquire Turkish poultry giant Banvit, in a joint venture with Brazilian food processor BRF SA, by the end of this month.
“Qatar investment Authority and  Qatar Holding Company  in partnership with a Brazilian company, have made a bid to buy Banvit. The Brazilian company aims to increase it halal production.  They are initially planning to buy some 80 percent with a  deal worth around $250m and  if the deal works out, the group is expected to buy the whole company.  We expect talks to conclude by the end of this month,” said Burak Guresci, Commercial Counsellor, Embassy of Republic of Turkey.
“Once this happens, we expect to see more of Turkish food products in Qatar,” he added. On the other hand, trade volume and bilateral relations between both the countries are seeing much increase.
“We  are trying to increase trade relations between  business people in private sector in Turkey and Qatar. Two weeks  ago we had Expo Turkey in Qatar, bringing in some 150 Turkish  companies. Next week at Project Qatar, Turkey will present one of the largest national pavilion, with some 62 companies showcasing their products here. However, last year the trade fell to less than $1bn, due to  drop in oil prices and import of oil from Qatar was decreased. However, with the  prices of both petroleum and natural gas increasing, we expect it to go over $1bn, this year,” said Guresci.
While Qatar exports, natural gas, aluminium  and fertilizers to Turkey, it imports construction materials and furniture from the country. While, Qatari investment in Turkey is increasing, Turkish companies are becoming stronger in Qatar’s construction sector, with presence seen in major rail and stadium projects.