Union of Chambers and Commodity Exchanges of Turkey

The Union of Chambers and Commodity Exchanges of Turkey (TOBB) and Federation of Gulf Cooperation Council Chambers (FGCCC) held 2^nd TOBB-FGCCC Business and Investment Forum in Manama, Bahrain.

Attending the forum at the head of a 250 businessmen delegation, Hisarcıklıoğlu said that the number of businessmen from Gulf countries is approximately 500 and that they expect profitable and beneficial partnerships to be formed.

Stating that Turkey is even stronger today despite the coup attempt of July 15^th, Hisarcıklıoğlu said, “Our economy continues to grow stronger. It is more profitable than ever to do business in Turkey. In these difficult times, the first offer of help came from the Gulf countries.”

Emphasizing that Turkey and Gulf countries want to engage in more business together, Hisarcıklıoğlu stated that the present figures do not fully represent the full potential of either side.

Drawing attention to possibilities for cooperating in third countries, Hisarcıklıoğlu said, “There are two important steps we must take. One of these is the FTA between Turkey and Gulf counties. We’ve wanted to put this into effect for years. Let’s combine the 53 million Gulf population and 80 million of Turkey to become a 133 million market. Let’s add Turkey to the economic power which boasts of 1.5 trillion USD to make it 2.5 trillion USD. In order to achieve this, we must put into effect the FTA without any further delay. This is the right time. We must also put into effect the Preferential Trade Agreement Between Islamic Countries. There is a total population of 1.5 billion people in Islamic countries. This is an extraordinary power and opportunity. There is so very little left before the agreement can enter into effect. GCC members should update their concession lists. Let’s do this with all due haste.”

- Customs and Commerce Minister Tüfenkci

Customs and Commerce Minister Bülent Tüfenkci stated that the forum is an important opportunity for Turkey and Gulf countries to strengthen and develop relations and to identify new investment opportunities.

Pointing out the importance of GCC, Tüfenkci stated that these countries share a history, culture and destiny. Tüfenkci urged that efforts to ensure peace and stability in the region as well as maintaining security and spreading wealth be consolidated.

- Turkey could be a safe harbor for the Gulf

Bahrain CCI Chair Khalid Al Moayyed stated that they want to achieve a true leap forward in regards to the economy and that the forum will light the way for them. Pointing out the many avenues of cooperation, Moayyed said, “Our goal is full partnership with Turkey.”

Qatar CCI Chair Shaikh Khalifa bin Jassim Al Thani emphasized the importance of developing trade relations with Turkey, saying, “Turkey could be a safe harbor for the Gulf.”

GCC Secretary General Abdullatif Al Zayani stated the importance of bilateral trade in regards forming cooperation to increase the added value generated by countries.