Türkiye and Gulf countries have agreed on a trade target of $15 billion after President Recep Tayyip Erdogan’s recent visits to Kuwait, Qatar, and Oman, the Turkish Trade Ministry announced Friday.
Trade Minister Omer Bolat accompanied Erdogan on his visits from Oct. 21-23 to deepen economic and commercial relations, as well as to elevate cooperation with Gulf countries, The Caspian Post reports, citing Anadolu.
The Türkiye-Gulf Cooperation Council (GCC) Free Trade Agreement (FTA) was negotiated during the visits, covering trade in goods and services, investments, digital trade, and digital trade investments.
Türkiye’s exports to GCC countries reached $14.7 billion, while its imports from the countries totaled $13 billion last year, making up $27.7 billion in trade volume.
“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,” according to the statement.
Bolat met with Qatari Commerce and Industry Minister Sheikh Faisal bin Sani Al Sani, as well as Qais Mohammed Al Yousef, Oman’s Commerce, Industry, and Investment Promotion Minister, to negotiate the Türkiye-GCC FTA.
The Turkish Trade Ministry said that Turkish contractors and investors can evaluate the opportunities in the Gulf region through the Kuwait Vision 2035, the Qatar National Vision 2030, and the Oman Vision 2040 strategy plans that involve cooperation on primarily infrastructure and superstructure projects.
The Turkish contracting business undertook a total of 315 projects worth $37.5 billion in the three countries to date, and it will continue to play a key role in the countries’ development vision plans.
The Trade Ministry said it will further enhance the effectiveness of its institutions and organizations to seize 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 said.
The second round of negotiations for the Türkiye-Qatar Joint Economic and Trade Committee (JETCO) will be held in Doha.
Bolat, Turkish Industry and Technology Minister Mehmet Fatih Kacir, and Al Yousef held a meeting to discuss and address the development of institutional capacity in priority areas via expert exchange, strengthening cooperation in the establishment and operation of industrial zones, and identifying trade and investment areas.
The ministers signed a cooperation memorandum of understanding on protecting competition and preventing monopolization.
“Our priority is to take our relations to the next level and increase Türkiye’s trade volume with Kuwait, Qatar, and Oman to $5 billion each,” the Turkish Trade Ministry’s statement said.
