Union of Chambers and Commodity Exchanges of Turkey

In his speech at the opening, the Union of Chambers and Commodity Exchanges of Türkiye (TOBB) Board Member Öztürk Oran stated that the global economy is going through a difficult period and that a difficult year awaits them due to the expectations of recession, “Therefore, we all need strong cooperation. We must act jointly as the deep-rooted nations of this region.”

Emphasizing the need to strengthen the private sectors in the countries together, Oran said that the strength of the Turkish economy comes from the private sector.

“Trade enriches, protectionism impoverishes. In particular, it is essential for the prosperity of developing countries that trade is free. Therefore, we should spread free trade together.”

Öztürk Oran, stating that Türkiye is a great industrial power and is among the giants of the world in construction, agriculture and tourism, said: “However, despite all these opportunities, we could not grow our economic relations sufficiently. Türkiye makes only 8 percent of its total foreign trade with the Arab League. The Arab League, on the other hand, makes only 1 percent of its total trade with Türkiye. So we're not doing business with each other. Considering the potential we have, these figures are a drop of water at sea. An Arabic proverb says, ‘There is no increase with one hand.’ We are currently trying to increase it with one hand. The way to make our countries and nations more prosperous is to increase trade.”

Oran added that the forum will contribute to the discussion of regional cooperation opportunities and the development of trade.

Deputy Minister of Treasury and Finance Zaman said that the reorganization of the forum after 5 years is an indication of the determination to raise the relations between Türkiye and Arab countries to higher levels.

Noting that they attach great importance to the special relationship between Türkiye and the Arab world, Zaman said, “We are very pleased with the use of high-level cooperation and contacts between our countries. We attach great importance to these dialogues. The relations with Arab countries, which we have recently accelerated in many areas such as trade, defense, industry, health, agriculture and tourism, aim to go further in the field of finance and investment.”

Zaman stated that they will have the opportunity to cooperate in various fields today and that they will be able to identify the opportunities that will come in front of them in the future together.