Istanbul hosts 2nd Turkish-Arab Banking and Financial Forum

Yousif stated that they aimed to raise Turkish investments in Egypt from 1.5 billion dollars to 3 billion dollars the following year.

Istanbul hosts 2nd Turkish-Arab Banking and Financial Forum

World Bulletin / News Desk

President of the Union of Arab Banks Adnan Yousif said it was inevitable that Turkey would receive its oil and natural gas from them and they would receive their needs from Turkey at 2nd Turkish-Arab Banking and Financial Forum in Istanbul. There is a political change in the Middle East and the Arab region and this process of change affects the region economically, said Yousif.

"Turkey has improved its economic infrastructure and the Gross National Product increased to 763 billion dollar and this encouraged the Arab world to invest in Turkey" he added.

"Arab investments in Turkey have reached seven billion dollars since 2005. Banking industry is important as well as real estate, health, textile, tourism and technology for the Arab countries," said Yousif.

The budget of the Arab banks has risen to 2.6 trillion dollars in the third quarter of 2012 and the gross domestic income has exceeded two trillion dollars, stated Yousif.

Yousif stated that they aimed to raise Turkish investments in Egypt from 1.5 billion dollars to 3 billion dollars the following year.

"Our target is 10 billion dollars in 2015," he said.

Turkey continues contributing significantly to the development of trade and economic relations in the Arab countries affected by the Arab spring uprisings, Yousif reiterated.

The Arab world is an important market for investments, said Deputy Secretary General of the Arab Union Abdelaziz Abou Hedna.

He noted that Turkish-Arab cooperation was not enough as they expected and called on both parties to improve the economic cooperation more as well as political cooperation.

Last Mod: 07 Mart 2013, 09:22
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