Turkish-Arab Economic Forum kicks off in Istanbul

ISTANBUL

The 15th Turkish-Arab Economic Forum commenced in Istanbul on Thursday, featuring high-level officials from Türkiye and Arab countries.

The one-day event gathers ministers, experts, representatives and economists from various institutions and the private sector to discuss key agenda items.

Arab League Secretary-General Ahmed Aboul Gheit emphasized the forum’s significance as a platform for trade relations between the parties. This event strengthens dialogue and provides an opportunity to debate problems he noted, highlighting the growing economic relations between Türkiye and the Arab world.

Aboul Gheit reflected that Türkiye is uniquely positioned, bridging Europe and the Arab world. He acknowledged past misunderstandings affecting relations over the last decade but asserted that significant opportunities exist for further development.

He pointed out that Türkiye possesses substantial know-how that can leverage opportunities arising from the Arab world. Recently, Türkiye's exports to the Arab world totaled $46 billion annually, while imports amounted to $36 billion, he observed. He also highlighted the Arab world's substantial economic size, estimated at around $3 trillion.

Aboul Gheit stated that Türkiye and the Arab world could achieve a bilateral trade volume of $150 billion, underscoring Türkiye's well-developed infrastructure, including Turkish contractors who are involved in infrastructure projects across Asia and Arab countries.