ISTANBUL 

The Trade and Economic Partnership Agreement (TEOA), signed by Türkiye and Qatar in November 2018, will enter into force as of Friday, Türkiye's Trade Ministry announced on Thursday.

The agreement will increase mutual investments, simplify and accelerate business processes, and increase the projects prioritizing production and employment, according to a statement from the ministry.

"The strong legal infrastructure provided by the agreement establishes a new investment environment based on mutual trust for Turkish and Qatari businesspeople," it said.

The statement noted that with this historic agreement, the doors to a new era full of opportunities in Qatar have been opened for the Turkish business community.

The objectives of the deal are to increase the current bilateral trade volume with Qatar from $1 billion to $5 billion in the medium term, deepen commercial and economic cooperation between the two countries, ensure Turkish companies' entry into the Qatari market under advantageous conditions, and increase mutual investments and encourage production- and employment-focused projects.

The agreement also abolished customs duties and measures on a significant portion and established some technical and commercial regulations in trade.

The ministry noted that the annual foreign trade volume between Türkiye and Qatar is $1.1 billion in 2024, with a foreign trade surplus of $328 million in Türkiye's favor.

"Türkiye has signed and currently has in effect Free Trade Agreements (FTAs) with 23 countries and Preferential Trade Agreements with six countries, in addition to the Customs Union with the EU," it said.

These agreements have significantly contributed to the growth of our foreign trade over the last 22 years, with exports rising from $36 billion in 2002 to $267 billion in June 2025, according to the statement.