Qatar Development Bank mulling projects with Turkish SMEs

Qatar Development Bank (QDB) is weighing up the possibilities to start joint activities with Turkey's Small and Medium Enterprises Development Organization (KOSGEB), in order to establish Middle East industry and trade, incubation and matchup (B2B) centers for technology transfer and sharing know-hows for Turkish and Qatari small- and medium-sized organizations (SMEs), KOSGEB Chairman Recep Biçer has confirmed.

Speaking to Anadolu Agency (AA), Biçer assessed KOSGEB's international cooperation areas and said that the Second Turkish-Qatari High Strategic Committee meeting, hosted by President Recep Tayyip Erdoğan, was held in Trabzon last year.

Referring to the Memorandum of Understanding (MoU) that was signed during last year's meeting, Biçer said KOSGEB and the QDB have recently signed an agreement and a joint action plan. The plan is aimed at developing economic and commercial cooperation between Turkish and Qatari SMEs, increasing their share in the global market, and establishing their strategic cooperation and foreign partnerships.

According to the KOSGEB chair, his organization and the QDB took the first step toward a joint action plan in Ankara during a QDB delegation's visit to KOSGEB. During the visit, KOSGEB introduced its incentive models in the topics of project programs, entrepreneurship, access to financing, research and development (R&D) and innovation, as well as the methods of monitoring and evaluating incentives.

The QDB delegation and KOSGEB authorities also held a field visit and shared information on incubation, technology centers and clustering structures. Moreover, they addressed how the objectives of the action plan could be achieved as well as other potential areas of cooperation. Biçer pointed out that the plan was aimed at ensuring bilateral business talks between Turkish and Qatari SMEs, exchange of specialists, establishment of match-up centers and sharing of information and experience.

In recent developments, QDB representatives have invited members from KOSGEB to Qatar. "We think that the action plan will offer opportunities for cooperation between Turkish and Qatari SMEs which will lead to major economic gains," Biçer said.