Caglayan, Simsek call for stronger regional economic cooperation

The Middle Eastern and Neighboring Countries Fair began yesterday in Gaziantep with the aim of strengthening cooperation and commercial ties in the region. The fair, which runs through Sunday, was attended by Foreign Trade Minister Zafer Caglayan and Finance Minister Mehmet Simsek, as well as Sinan Celebi, the industry and trade minister of northern Iraqi regional administration, and Iraq's Deputy Minister of the National Investment Commission Salar M. Ameen, along with representatives from hundreds of firms from Turkey, Syria, China, Iraq, Jordan, Lebanon, Romania, Italy and Brazil. The officials, speaking at the opening of the fair, called on participants to further economic cooperation, saying that doing so would eventually boost prosperity in the region. Caglayan said Turkey is eager to increase its trade with neighboring countries in the region. "We're hoping to reach $1 trillion in foreign trade by 2023. Let's do this together," he said. Stating that Turkey's share of the trade with 57 Islamic countries amounts to only 15 percent of its overall trade, he called on participants to raise this to around 40-50 percent. "Let's make use of our mutual advantages and improve trade. Let's carry out joint operations in third countries. This is what this fair is for," he said. Simsek, also speaking at the event, said that with their predominantly young populations and huge economic potential, Turkey and its neighbors may achieve greater prosperity. "We all have what's needed for greater prosperity and more investment and trade." He called on Middle Eastern countries to unite and realize their potential.