High purchasing power of Qatar's firms is great advantage for Turkish exporters, says export expert
Turkey's exports to Qatar rose 29 percent to $382 million year-on-year in the first nine months of 2017, the Aegean Exporters' Association (EIB) said on Monday.
The country's exports to Qatar also jumped 90 percent to $216 million during the four months (June to September) following the embargo imposed by some Arab countries on Qatar, according to an EIB statement.
The association stated that Turkey's food exports to Qatar surged 98 percent to $114 million in the first nine months of 2017, compared to the same period in 2016.
Aquaculture and animal products was the largest food export sector with $38 million, said the group.
It added that Turkey's exports to Qatar in the first nine months of 2016 totaled $296.9 million and $114 million in June-September.
Qatar's food production meets only 10 percent of the country's domestic consumption, said the association’s Sabri Unluturk.
"Most food consumption in Qatar is met by imports. And the high purchasing power of Qatar's firms is a great advantage for Turkish food exporters," he added.
World Cup and construction
He stated that ahead of Qatar hosting the 2022 World Cup, the country will need $150 billion of infrastructure and construction work.
Nearly one-fifth of world’s 250 largest construction companies are Turkish, second only to China, he stressed.
Turkish firms can do many projects in Qatar, and as more Turkish products are used in projects, the country's exports will rise, he stressed.
In June, Saudi Arabia, the United Arab Emirates, Egypt and Bahrain all abruptly cut off diplomatic and commercial ties with Qatar, accusing it of supporting terrorist groups in the region.
Qatar fiercely denied the accusations, blasting the Saudi-led embargo as a breach of its national sovereignty.
Turkey's total exports in January to September 2017 reached $114.66 billion, according to Turkish Exporters Assembly (TIM) data.
The EIB also took part in the FoodConsumer Industries Exhibition (Oct. 26-29) in Doha to promote Turkish foods and represent Turkish exporters.