Turkey and Qatar have set a target to raise bilateral trade to $5 billion, Turkish Trade Minister Omer Bolat said after meeting Qatar’s Minister of State for Foreign Trade Ahmed bin Mohammed Al-Sayed in Ankara. Bilateral trade reached $1.3 billion in 2025, representing a 53-fold increase over the past 21 years.

Trade between the two countries had previously climbed to $2.5 billion during construction activity ahead of the 2022 Qatar World Cup. Both countries expect their Trade and Economic Partnership Agreement, which took effect last year, to support further growth. Turkish contractors have completed 206 projects in Qatar valued at about $21 billion, while around 1,116 Turkish companies operate there in construction, services and manufacturing.

Qatari companies have invested a total of $7.8 billion in Turkey across finance, banking, energy, logistics, media and agriculture. Bolat also stressed the need for alternative trade routes as disruptions to cargo transport through the Strait of Hormuz continue amid conflict in the Middle East. Turkey and Qatar plan to strengthen alternative transit and trade corridors, while Qatar Investment Authority has indicated interest in expanding investments in Turkey.