A NEW ERA IN TRADE UNVEILED

The Business Forums conducted in Saudi Arabia, the United Arab Emirates, and Qatar bolstered the influence of the Turkish private sector

The Business Forums conducted by the Foreign Economic Relations Board (DEİK) in Saudi Arabia, the United Arab Emirates, and Qatar, as part of Turkish President Recep Tayyip Erdoğan’s Gulf tour, have bolstered the Turkish private sector. During the Business Forums held in Jeddah, Doha, and Abu Dhabi, featuring the participation of Heads of State and Ministers, 200 Turkish business individuals under the auspices of DEİK, along with representatives from the business sectors of four countries, a new chapter in trade was inaugurated.

A total of 27 agreements were signed, encompassing areas such as mutual investments, sectoral cooperation, and joint investments in third countries. The Business Forums, orchestrated by the Foreign Economic Relations Board (DEİK) and its counterparts in Saudi Arabia on July 17, Qatar on July 18, and the United Arab Emirates on July 19, served as a platform to unite the top leaders of the four countries. The forums were centred around the objective of amplifying mutual trade volumes with countries in the region, fostering new collaborative investments, and strengthening cooperation in third-party nations.

PRESIDENT ERDOĞAN: “OUR COLLABORATION WITH THE GULF COUNTRIES WILL INTENSIFY AND PROGRESS THROUGH TANGIBLE PROJECTS IN THE FORTHCOMING PERIOD”

President Recep Tayyip Erdoğan addressed journalists’ questions upon his return to Türkiye following his Gulf tour. Explaining that bilateral relations were discussed in all dimensions, Turkish President Erdoğan said, “We had the opportunity to assess global and regional developments between us. We concentrated on significant and comprehensive cooperation projects, adopting a win-win approach. Our collaboration with these countries will strengthen and progress through tangible projects in the upcoming period. Hopefully, we will witness the positive effects of this on our economy as soon as possible. We will swiftly execute the agreed-upon matters, particularly in areas such as defence industry, energy, tourism, and contracting.”

Highlighting the UAE as a pivotal commercial and economic partner in the region, Erdoğan stated, “Last year, we elevated our trade volume by 25 percent to 10 billion USD. This figure keeps increasing. There is a significant potential for trade and investment between Türkiye and the Emirates. During our visit, we addressed the steps to harness and leverage this potential. Through the joint agreement we adopted, we raised our relations to the level of strategic partnership.”

OLPAK: “WE WILL WITNESS THE REFLECTIONS OF THE AGREEMENTS ON OUR TRADE IN THE SHORT AND MEDIUM TERM”

DEİK President Nail Olpak emphasized that DEİK made an almost landing on a private plane with a crowded delegation of 200 Turkish business people to Turkish President Erdoğan’s Gulf tour and said, “First of all, the intense participation of our business world in the Business Forums we organized in Jeddah, Doha and Abu Dhabi was an extremely important message. The Gulf Tour underscored the Turkish private sector’s strong commitment to revitalizing economic and trade ties with Saudi Arabia, Qatar, and the United Arab Emirates. The significant presence of ministers from the host countries at our meetings in all three nations showcased the depth of their commitment to fostering this process. The discussions generated a positive outlook for the Turkish business community. In addition to official agreements, 27 additional agreements were signed, promising significant gains for our country and the business community. The agreements, particularly those influencing our industry directly in the energy, health, information technologies, real estate, and food sectors, hold great significance for positive impact. Substantial agreements have been reached regarding investments in solar energy and hydrogen as well. Hence, it is an exceedingly diverse array of agreements in terms of commercial scope. The business communities in the three countries have displayed considerable interest in Türkiye, expressing a strong appetite and intention to invest in the country. We will witness the impacts of these robust initiatives in trade in the very near term.”