Secretary of Iran-Qatar Chamber: If the Result of Medicalian's Trip is the Establishment of a Currency Exchange, It is 'Significant'

The Secretary-General of the Iran-Qatar Joint Chamber of Commerce states that Turkey has 'taken over' Iranian markets in Qatar, and if the outcome of President Iran's recent trip to Qatar is the establishment of a currency exchange, it would be considered a 'significant achievement.' Mustafa Salehi-Nejad mentioned on Friday, October 5, that due to financial transfer obstacles for trade between the two countries, in the context of sanctions and the inability to establish a joint bank, if the 'output' of Massoud Bezgian's trip to Qatar is the establishment of 'this currency exchange,' it would be a 'remarkable achievement.' Mr. Bezgian traveled to Qatar on October 2, a day after Iran's missile attack on Israel, but during this trip, apart from a few memorandums of understanding, no contracts were signed between the two parties. The Secretary-General of the Iran-Qatar Chamber says that Iranian traders currently have to first transfer the currency obtained from exports to Qatar to the UAE and then to Iran, which reduces their trade profit by 20%. This official also pointed out the limited trade volume between Iran and Qatar, which is only $200 million, stating that Turkey has 'taken over' Iranian markets in Qatar. International sanctions have placed the Islamic Republic in a financial exchange bind even with its neighbors, so according to this official, reopening a currency exchange could be considered a 'significant achievement' of the Iranian President's trip to an important Arab country. Statistics from the Iran Chamber of Commerce show that Iran's exports to Qatar have decreased from $250 million in the mid-2010s after the JCPOA to $107 million last year. Meanwhile, data from the Turkish Statistical Institute indicates that Turkey's exports to Qatar have doubled during the same period, with Turkey exporting eight times more to Qatar than Iran last year. Both Iran and Turkey supported Qatar during its diplomatic and economic isolation by some Arab countries in the region, particularly Saudi Arabia and the UAE, in 2017. Mr. Salehi-Nejad described the political relations between Iran and Qatar as 'desirable and deeper than it seems,' but mentioned that Qatar strictly adheres to international laws focused on sanctions against Iran. He stated, 'In this situation, Turkey has been able to penetrate the Qatari market well, and even though the cost of trading with Turks is about 30% higher than trading with Iranians, Turkish products have replaced Iranian products in the Qatari market. This achievement for the Turks is a result of their diplomacy with Qatar, especially since Turkey is not under sanctions, while we are.' This official further emphasized that Qatari tourists travel to Europe, Australia, and Turkey, but none choose Iran for summer travel despite its proximity and low costs. This member of the Chamber of Commerce attributed the lack of Qatari tourists visiting Iran solely to the 'impossibility of using international credit cards,' without mentioning the lack of suitable tourism infrastructure and the detention of foreigners in Iran, which the West refers to as 'the Islamic Republic's hostage-taking.' Statistics from the Turkish Ministry of Culture and Tourism indicate that Turkey hosted over 70,000 Qatari travelers last year and 43,000 in the first eight months of this year. While Turkish Ministry of Commerce statistics report a $20 billion investment from Qatar in Turkey, Salehi-Nejad states that the necessary infrastructure to attract Qatari investors in Iran is not in place.