Union of Chambers and Commodity Exchanges of Turkey

In his speech at the 8th Turkish – Arab Economy Forum, Hisarcıklıoğlu extended his thanks in the name of the Turkish Private Sector to Prime Minister Recep Tayyip Erdoğan, who sponsored and supported the forum, for his contributions to the development of Turkish-Arab Relations. 

Pointing out that the world was undergoing a fast economic and political change for the last 3 years, Hisarcıklıoğlu said, "This change is strongly felt in our geography, especially with the Arabian spring.  This transformation process offers a historical opportunity to bring stability and welfare to our region.”

Reminding that Turks and Arabs lived together for centuries, Hisarcıklıoğlu said, “In the last 30 years, a long distance has been covered in economic relations with the Arab world.   Our commercial relations gained speed from 2002 to the present.   In 10 years, the export to Arab countries increased by 11 folds, while our import from Arab countries increased by 12 folds.  In line with the developing political relations, our mutual trade approached 50 billion dollars per annum in 2012.   Important developments were seen in mutual capital movements.  10 years ago, 700 hundred Arab brothers were visiting Turkey, but now about 2.5 million Arabs visit our country”

- “Regional economic cooperation must be strengthened.”

Stating that Arab population was estimated to reach 600 million in 2050 and the number of people who demand good living conditions would rise, Hisarcıklıoğlu said:   “We will face many issues such as finding jobs for the youth, increasing food production and even preserving water resources. But, there are good opportunities, too.  It seems that with the energy sources discovered recently in Eastern Mediterranean, new energy-exporting countries will emerge in our geography. 

All these projections bring together new business and cooperation opportunities.  The best way to utilize these opportunities is to strengthen our regional economic cooperation.”

Pointing out that the Turkish business world aimed at deepening and diversifying relations with Arabs as with other countries of the world, Hisarcıklıoğlu said that the Turkish business world wanted the Arab World to become a major player of the global system. 

-''Arab capital and Turkish experience can be combined'

Hisarcıklıoğlu said that the capital savings of Arab countries that generate current account surplus may be combined with the industrial and engineering experience of the Turkish private sector, and that re-construction of the Arab countries that lacked investment could be realized jointly.

Stating that TOBB and DEIK were ready to provide any support to implement such projects with the network and experience they possessed, Hisarcıklıoğlu said:  “We are ready to give any assistance, and to teach what we know to our brothers, and share our experiences.   We should see each other as complementary elements of a whole, not competitors.  We are on board the same ship.  We must work together.  We must rise together.

In order to escalate the economic cooperation between the countries to the desired levels, the right legal basis should first be created.   Our boundaries must not prevent the movement of people, capital, goods and services between our countries.  In this context, it is of great importance to complete as soon as possible the negotiations over the Free Trade Agreement between Turkey and Gulf Cooperation Council  which have been suspended.   Liberalization will contribute to the desired escalation of the trade volume between us, and strengthen our cooperation.”

The TAF Special Award which is offered to those who contribute to the development of Turkish-Arab economic relations  in the scope of the forum has been awarded to Rifat Hisarcıklıoğlu, President of The Union of Chambers and Commodity Exchanges of Turkey (TOBB) and Chairman of The Foreign Economic Relations Board (DEIK), Ahmet Çalık, Chairman of the Board of Directors of Çalık Holding, Mansour S. Al-Maiman, Chairman of the Board of Directors of National Commercial Bank (NCB) and Fadi M. A. Jameel, Vice President of Abdul Latif Jameel Group.