Qatar Postal has successfully acquired a substantial 40% ownership stake in the prominent Turkish e-commerce platform, Turkish Souq, according to local news source Hurriyet Daily. Turkish Souq, operating as a vital international e-commerce hub, is renowned for offering consumers access to a wide array of high-quality products from renowned brands, delivering both a global shopping experience and competitive pricing.
The platform holds special significance for small and medium-sized enterprises (SMEs) aiming to tap into foreign markets. Its product range spans various categories, encompassing items like furniture, clothing, sports gear, and beauty products. Turkish Souq emerged as a collaborative effort between the Turkish postal service PTT and Qatar Post, with its establishment dating back to 2018.
Currently, the platform boasts an impressive inventory comprising around 300,000 products, all of which are dispatched to over 50 countries worldwide. While specifics regarding the financial terms of the deal remain undisclosed, this development comes amid growing economic ties between Turkey and Gulf nations.
Turkey’s Treasury and Finance Minister, Mehmet Şimşek, commented on the flourishing relationship between the two regions, highlighting a significant $51 billion investment package deal announced in July. This deal, he noted, is a clear reflection of productive dialogue between Turkey and the Gulf nations, with some investments anticipated to commence within the year.
The transaction aligns closely with President Recep Erdogan’s recent diplomatic visit to Qatar, forming part of his broader Gulf tour that also included Saudi Arabia and the United Arab Emirates. These diplomatic efforts aimed to attract investments from the Gulf region. Among the notable agreements made was a substantial drone procurement deal with Turkish defense firm Baykar in Saudi Arabia.
Erdogan’s tour culminated in Qatar, where he formalized a joint declaration with Doha and exchanged nearly 100 documents to enhance bilateral cooperation across diverse sectors. The acquisition of a significant stake in Turkish Souq by Qatar Postal is seen as a significant stride in strengthening economic ties between these nations, further fostering collaborative efforts and promoting growth in various sectors.
