(MENAFN- The Peninsula) By Mohammad Shoeb | The Peninsula
Doha: A number of Turkish companies, including manufacturers and exporters of electric and electronic items, are looking at Doha to make it as their regional hub to serve Qatar as well as other markets in the region, according to a prominent Turkish businessman who is also leading a union of industrial manufactures.
Turkish firms who are manufacturing wires, cables and other goods are exploring opportunities and looking for partners to set up their facilities in Qatar, especially in the rapidly developing free zones and economic zones.
'We are aware that the Qatari government is supporting to the local investors in a big way as part of efforts in establishing economic zones to achieve economic diversification. A number of Turkish companies, including several members of our association, are looking forward for that kind of investment opportunities in Qatar, Kerem Ozdogan, Executive Board Member of Turkey's Electrical and Electronics Exporters' Association (TET), told The Peninsula, recently.
Ozdogan, who was here leading a trade delegation of several Turkish companies, added: 'Several members of TET association and other Turkish companies are looking to establish their base in Doha and target other markets in the GCC region and beyond such as the Far East markets, making Qatar as their export hub.
He said that it will depend on the characteristics of the manufactures whether it will be economically feasible for them to set up manufacturing units in Qatar or using it as an export hub will be more cost efficient. It will largely depend on the nature and characteristics of specific goods they produce.
'There is a huge attention from the Turkish companies and investors about Qatar. Likewise, a lot of Qatari investors are also eying at the Turkish market to invest. They are evaluating the opportunities from every possible way, such as whether to make Qatar as a manufacturing base, storage base, or logistical base. Both sides are expected to hold meetings with like minded companies to expand and deepen the level of cooperation for a win-win situation, he noted.
Ozdogan also noted that setting up manufacturing units in Qatar for white goods (domestic appliance) and other electronics goods, is not that easy, but for electric items such as cables and other products, it would be much easier.
He said that the Commercial Attaché at the Turkish Embassy in Doha is also facilitating the potential investors in different ways.
The Qatar-Turkey bilateral economic cooperation has been growing fast and steady; especially after the blockade on Qatar the relations witnessed unprecedented growth. It is expected to continue maintaining the robust growth in 2020 and beyond. Bilateral trade volume between the two friendly countries during first nine months of 2019 reached QR5.69bn.
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