LOC19:04
16:04 GMT
Deputy Prime Minister, Oil Minister Participates at the 14th edition of the Turkish Arab Economic Forum
ISTANBUL, Nov 8 (KUNA) -- Deputy Prime Minister, Oil Minister and Minister of State for Economic and Investments Affairs, Saad Al-Barrak, marked the significant leap in Arab-Turkish relations, particularly in Kuwait, driven by numerous investment initiatives.
Al-Barrak's statement to KUNA came after his participation at the 14th edition of the Turkish Arab Economic Forum in Istanbul, titled "New Era for Partnership".
The Minister described investments opportunities as "promising" especially in tourism and construction fields, and highlighted the experience of Kuwait Finance House experience as successful endeavor.
Chief of Turkish Presidency Investments Office, Burak Daglioglu, spoke during the launch of the forum saying that Turkiye, under the leadership of President Erdogam, has been on the right path of cooperation with Arab states since 2003.
Trade between Turkiye and Arab States 20 years ago comprised about 10 percent of total Turkish exports, stated Daglioglu, while today it amounts to more that USD 45 billion, taking up 20 percent of total exports.
Chief of Turkish Union of Chambers and Commodity Exchanges, Rifat Hisarciklioglu, took note of the critical stage the world is currently in, a stage that requires international cooperation and solidarity.
Hisarciklioglu explained that global trade and economy are approaching a recession prompted by surge of geopolitical risks and conflicts.
Arab Union of Chambers Secretary General, Khaled Hanafi, hailed the growth of Arab-Turkish economic relations, calling Turkiye an important partner to the region.
Hanafi underlined Arab investments in Turkiye whether in real estate or tourism, saying that some 10 million Arabs choose Turkiye as their designated touristic destination annually.
The forum handled current political and security developments, their effects on region economies, boosting financial cooperation, challenges and principles of Islamic finance, and integrating financial technologies.
It also delved into strategic investments, reinvigorating trade relations, capitalizing on investment opportunities in traditional and renewable energy sectors alike, as well as expanding horizons of real estate, construction, innovation and defense investment opportunities.
The forum was launched back in 2005, as a platform to engage in the development of Arab-Turkish relations. (end)
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