Doha: Turkish president Abdullah Gul said here on Wednesday that Turkey will soon sign a free trade agreement with the Gulf countries to boost commercial ties.
Gul, who is on a three-day official visit to Qatar, also announced that Turkey and Qatar had signed an agreement to avoid double taxation.
Gul was addressing the first meeting of the newly established Qatari-Turkish Business Forum attended by Qatari business leaders and a delegation from Turkey, including the Minister of Finance, Minister for Energy and Natural Resources and the Minister for Public Works and some 230 prominent Turkish businessmen.
"Qatar and Turkey have historic amicable relations. We are keen on boosting them and we have signed an agreement on [avoiding] double taxation that will help create the right environment for businessmen of both countries," Gul told the gathering.
The agreement eliminating double taxation was published in Tuesday's Turkish Official Gazette, Turkish media reported yesterday.
"Turkey will sign a free trade agreement with Gulf countries soon," Gul added, urging Qatari businessmen to invest in his country.
"We are the sixth economy in Europe and our GDP will reach $1 trillion in the next five years. Now you can open a company in Turkey overnight and enjoy the same rights of Turkish investors," he said.
"We wish the economic relations with Turkey were as developed as our political ties, which are excellent," said Shaikh Hamad Bin Jasem Bin Jabor Al Thani, Qatar's prime minister and minister of foreign affairs, urging Turkish businessmen to do the same in Qatar.
There are about 7,000 Turkish citizens living in Qatar and some 22 leading Turkish contracting companies are involved in Qatar's development projects.
Trade between Qatar and Turkey in 2006 amounted to $407 million.
Gul and Shaikh Hamad also witnessed the signing of an agreement between the Qatari Businessmen's Association and The Union of Chambers and Commodity Exchanges of Turkey, establishing a joint business council.
Speaking to local and international media ahead of the visit, Turkish ambassador to Qatar Mithat Rende said the visit comes at a time when Turkey, which relies heavily on Russia and Iran for its gas supplies, is planning to diversify its sources.
Ankara is expected to sign a framework agreement with Qatar in the energy sector under which Turkey would start buying liquefied natural gas (LNG) from Doha in 2010.
