Presidential Investment Office President Burak Dağlıoğlu: “A fintech company from Turkey purchased a fintech company from Dubai. “This is how they will expand their investments in different Arab countries” – TOBB President Rifat Hisarcıklıoğlu: “We must bring together the capital accumulation of Arab countries and the production experience of the Turkish private sector in the fields of industry, tourism and agriculture.”
ISTANBUL (AA) – President of the Presidential Investment Office Burak Dağlıoğlu stated that they constantly consult and work together with investment ministries or agencies and said, “I would like to give an example from Fintech. A fintech company from Turkey purchased a fintech company from Dubai. “This is how they will expand their investments in different Arab countries.” he said.
The 15th Turkish Arab Economic Forum started in Istanbul with the theme “Türkiye and the Arab World: Global Corridor in Investment, Trade, Technology”.
The government, business world and finance sector representatives of Kuwait, Iraq, Egypt, Libya and Tunisia also attend the forum, where Treasury and Finance Minister Mehmet Şimşek also participates.
At the opening of the event, Burak Dağlıoğlu pointed out the importance of regional investments and stated that the Presidential Investment Office is in constant contact with its counterparts in the relevant countries.
Dağlıoğlu stated that they constantly consult and work together with the investment ministries or investment agencies in the countries and said, “I would like to give an example from Fintech. A fintech company from Turkey purchased a fintech company from Dubai. This is how they will expand their investments in different Arab countries. ” he said.
Rifat Hisarcıklıoğlu, President of the Union of Chambers and Commodity Exchanges of Turkey (TOBB), reminded that we are in a period when geopolitical risks and conflicts are increasing, and said that they believe that the need for strong international cooperation and solidarity is increasing.
Pointing out that the private sector should be strengthened together, Hisarcıklıoğlu said, “Because in our age, the main power of countries comes from their private sectors. The strength and dynamism of the Turkish economy is also based on the private sector. In this way, we are an entrepreneurial country that has established the largest industrial production capacity and exports the largest industrial products between Italy and China.” he said.
Hisarcıklıoğlu pointed out that Turkey is one of the largest in the world in the fields of construction, tourism and agriculture, and said:
“We are the main supplier of Europe in many sectors, especially automotive, white goods, iron and steel and apparel. We are the country from which the EU imports the most cars outside itself. We export 260 billion dollars annually to more than 200 countries with 12,600 different products, 94 percent of which are industrial goods. We deliver 60 percent of this to developed, rich markets and countries. This shows that Turkish products are quality, price competitive and appreciated by consumers. We achieved all this by liberalizing trade and increasing competition. Because trade enriches, protectionism impoverishes. “Freer trade is essential, especially for the stability and prosperity of developing countries.”
– “The economic relations between us do not reflect our potential”
Pointing out the need to integrate with the world and improve the business environment, Hisarcıklıoğlu said, “Countries that achieve this will be the winners of this century. Unfortunately, despite this situation, the economic relations between us do not reflect our potential. The trade and investment volume between us remains below the level it should be. The way to make countries more prosperous is to come together and stand together. “The way to achieve this is to increase economic relations and especially the trade we make with each other.” he said.
Industry, tourismEmphasizing the need to bring together the capital accumulation of Arab countries in the field of agriculture and agriculture with the production experience of the Turkish private sector, Hisarcıklıoğlu said, “We want to work closely with our Arab friends to develop entrepreneurship and strengthen SMEs in our geography. As TOBB, we are ready to share experience and knowledge on these issues.” he said.
Reminding that they have made significant progress in increasing commercial relations recently, Hisarcıklıoğlu continued as follows:
“Turkey’s exports to Arab countries were 5 billion dollars 20 years ago. It exceeded 45 billion dollars in 2023. Again, in the last 20 years, Türkiye has received more than 50 billion dollars of direct foreign investment from Arab countries. Located in the middle of Africa, Europe and Asia, Turkey has a business-friendly investment environment. The Turkish economy, which has shown positive growth in 19 of the last 20 years, is developing solidly and rapidly. “I believe that this forum will contribute to the realization of new regional cooperations and further strengthening economic relations with our Arab brothers.”
– “It has a location connecting Türkiye, Russia, Europe and Africa”
Khaled Hanafy, Secretary General of the Union of Arab Chambers, stated that they are making efforts to increase economic and commercial cooperation between Turkey and Arab countries, and pointed out the importance of Turkey increasing its trade volumes with Arab countries.
Al-Iktissad Wal-Aamal Executive Director Faysal Abou Zaki also stated that economic transformations are taking place in the world and said that they have a vision of shared wealth and regional development.
Zaki stated that Turkey has a position connecting Russia, Europe and Africa, and noted that Turkey can further strengthen its position in the global economy with its strategic and economic potential.
Khalid Ali Salim Al Senaidi, Deputy Secretary of the Gulf Cooperation Council, stated that free trade agreements between Turkey and Arab countries are important in terms of increasing bilateral trade between their countries, and stated that they aim to increase the welfare of countries and peoples.
Arab Economic Forum Strategic Partner Erkan Kork also underlined that there is a disciplined banking sector in Turkey and noted that Turkey and Arab countries can cooperate in the field of fintech, technology, with know-how experience and with a win-win formula.