Turkey, Gulf nations set trade goal for fifteen billion dollars
(MENAFN) Türkiye and Gulf countries have set a trade goal of $15 billion following Turkish President Recep Tayyip Erdogan’s visits to Kuwait, Qatar, and Oman, according to a statement from the Turkish Trade Ministry on Friday.
Trade Minister Omer Bolat accompanied Erdogan from October 21–23 to strengthen economic and commercial ties and elevate cooperation with Gulf states. During the visits, officials negotiated the Türkiye–Gulf Cooperation Council Free Trade Agreement, covering trade in goods and services, investments, digital trade, and digital trade investments.
Last year, Türkiye’s exports to Gulf countries reached $14.7 billion, while imports totaled $13 billion, creating a combined trade volume of $27.7 billion. “In 2025, 16% of Türkiye’s trade volume with GCC countries was with Kuwait at $713 million, Qatar at $1.1 billion, and Oman at $1.3 billion,” the statement said.
Bolat met with Qatari Commerce and Industry Minister Sheikh Faisal bin Sani Al Sani and Oman’s Commerce, Industry, and Investment Promotion Minister Qais Mohammed Al Yousef to finalize the FTA negotiations.
The Trade Ministry highlighted opportunities for Turkish contractors and investors through Kuwait Vision 2035, Qatar National Vision 2030, and Oman Vision 2040, primarily focusing on infrastructure and superstructure projects. To date, Turkish contractors have undertaken 315 projects worth $37.5 billion in the three countries and are expected to continue contributing to development initiatives.
The ministry emphasized its goal to enhance the efficiency of institutions and organizations to capitalize on regional and global opportunities. “The Development Road project — connecting the Gulf to Europe — the effective cooperation and the seizing of opportunities that will be established between the business communities of Kuwait, Qatar, Oman, and Türkiye in rebuilding Syria are among the main areas of cooperation,” the statement added.
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