Turkish finance minister said on Wednesday that although the developments in North Africa and Middle East created some uncertainty for the business world, the region, the world and Turkey would benefit from those developments in long term.

Finance Minister Mehmet Simsek delivered a speech at the 6th Turkish-Arab Economy Forum in Istanbul and replied to questions.

Turkey always did its best in regard to prosperity, stability and peace in Middle East and Africa and it would keep doing so, he said.

Simsek said that Turkey attached a great importance to future of those countries.

"Several Arab countries export crude oil and gas as well as capital," he said. Simsek said that more cooperation was needed in the region and countries should do their best
to improve investment climate.

"Turkey has customs partnership with EU. It also has good relations with Russia and Turkic Republics. Countries investing in Turkey will have several important opportunities,"
he said.

Simsek said that trade volume between Turkey and Arab world which had been 6.9 billion U.S. dollars in 2002 reached to 33.5 billion U.S. dollars in the recent period.

Iraqi Finance Minister Rafi Hiyad al-Issawi said that Iraqi government attached a great importance to investments by private sector and especially to sectors of energy and
electricity.

Al-Issawi said that there were important opportunities in the areas of construction, infrastructure, transportation, ports and agricultural fields in Iraq.

Simsek said recent incidents in the Middle East had made this forum more significant, and Turkey could play a model role in the region.

The economy minister said better results could be got if more stable regimes, opener societies and more democratic societies were ensured.

Simsek said regional developments were for the best interests of regional people, and if regional people were more free and right reforms were made, the region could be more
stable and richer.

The Sixth Turkish-Arab Economic Forum (TAF'11) is taking place at the Four Seasons Hotel, Istanbul, on 26-27 April, 2011.

TAF'11 is organized by Al-Iktissad Wal-Aamal Group and the Turkish ministry of Finance, in cooperation with the Foreign Economic Relations Board of Turkey (DEIK) and the council of Arab League.

TAF has brought together, and since 2005, ministers, business leaders, professionals, governmental representatives and delegates from various Arab and Turkish bodies, governments and associations.

The Fifth Turkish-Arab Economic Forum, held in June 2010, was attended by 14 Arab Foreign & Finance Ministers and around 700 business professionals from leading companies coming from the Arab World and Turkey.

AA