ANKARA: Sabuhi Attar, the head of the Turkish-Arab Countries Business Association, said the trade volume between Turkey and Arab countries, which stood at $9 billion in 2003, has reached $46 billion today, and this figure will be $70 billion in 2017.
Noting that Arab countries mostly invest in the construction sector, Attar said the investment projects in the tourism, food, and textile industries were also drawn up. Attar told Anadolu Agency that Turkey and Arab countries have strong relations with ongoing partnerships, recalling that Turkey has collaborated with many Arab countries, especially Saudi Arabia, Qatar, Bahrain, and Kuwait. The relations, despite hitting the occasional low due to terrorist attacks, have not been cut off entirely.
Attar pointed out that the recent terrorist attacks in Turkey and the attempted coup on July 15, may occur in all countries, saying terrorism was a global problem. “Not only Turkey, but also Arab countries are experiencing these problems. When it comes to trade, investment and industry, stability is required,” he said, adding, “If there is no stability, investments will slow down. In such times, we are trying for more collaborations and guidance with our businesspeople so that this tempo will not fall. We are trying to create more projects.”
“Turkey is well-ruled during risky periods”Explaining that they do not find many countries trustworthy for investments, Attar said the euro has plummeted more in comparison to the Turkish lira, and that Turkey is well-ruled during risky periods. Defining President Recep Tayyip Erdoğan’s call for using local currency in international trade was “the right decision,” Attar said each country must try to make its own economy the best and most stable, and that if a country values another currency, it is not an investment, but a tool, urging the attendants to use gold in trade if they are damaged by the dollar. “The investors can make the best evaluation,” Attar said. Attar stressed that their aim at the association was to bring together the Turkish and Arab worlds, and said more collaborations between the firms of the two countries were necessary.
