RIYADH: Arab-Turkish economic relations are continuing to progress at all levels, with the volume of intra-trade standing at $55 billion, as stated by the secretary-general of the Union of Arab Chambers.
Khaled Hanafi added that exports from the Turkish nation are increasing annually by about 10 percent, and the presence of direct and indirect Arab investments in Turkiye has grown significantly in recent years.
The discussion took place during the fifth joint meeting of the Arab and Turkish Chambers, convened in Egypt. The event was attended by numerous heads of chambers of commerce and industry leaders from Arab nations and Turkiye.
During the meeting, Sameer Abdulla Nass, president of the Union of Arab Chambers and president of the Bahrain Chamber of Commerce, stressed the significance of increasing the openness of Arab economies at both regional and international levels.
He further underscored the importance of achieving optimal benefits from trade agreements concluded by Arab countries to boost their exports and enhance their capacity.
The president explained that this step would help remove all challenges and restrictions on the movement of trade between countries and attract foreign capital to contribute to creating opportunities for partnerships that achieve the common interest of all parties.
He also highlighted the importance of such meetings and conferences as opportunities to build strong relations between the Arab world and Turkiye. Especially noteworthy is the Arab-Turkish chamber, which, since its establishment, has played a significant role in raising the level of trade, economic, and investment exchange.
For his part, the Minister of Trade and Industry of Egypt, Ahmed Samir, stressed the importance of the business community in the Arab countries and Turkiye benefiting from the political relations between their nations. This collaboration aims to develop economic cooperation in areas such as joint manufacturing, the enhancement of intra-trade, support for transportation and logistics, and ensuring food security.
He urged the Arab and Turkish chambers to capitalize on the opportunities presented in the Arab Republic of Egypt, including those associated with the Suez Canal axis, the golden license, and the state ownership policy.
Source: Arab News
