Gulf countiries more interested in investing in Turkey

Investors from Gulf countries, namely, Saudi Arabia, UAE, Bahrain, Kuwait, Qatar and Oman, are getting more interested in investing in Turkey. According to data from officials of the Gulf-Turk Capital group, Gulf countries' direct investments in Turkey totaled $30 billion in the last decade. Accordingly, senior managers from huge companies from the Gulf region have arrived in Turkey for cooperation and partnership purposes. The first business forum of Turkey-Gulf Cooperation Council (GCC) was hosted by the Union of Chambers and Commodity Exchanges of Turkey (TOBB) with cooperation of the Federation of GCC Chambers of Commerce and Industry (FGCCC Chambers) and the Turkey-GCC in Istanbul yesterday. Speaking at the opening ceremony of forum, FGCCC Chairman Saleh Abdullah Kamel said that Turkey has implemented reforms not only in economy, but also in other fields. "Turkey is the most successful example among other Islam countries," said Kamel, adding that Turkey's achievements are closely followed by the world and Islam countries. Kamel also called on Gulf countries to benefit from improvements in Turkey. Speaking at the ceremony, Economy Minister Zafer Caglayan said that Turkey's growth rate would surpass 8 percent as from 2011 and that a new incentive system would be finalized and announced by Turkey in ten days. TOBB Chairman Rifat Hisarciklioglu reiterated that trade volume between Turkey and the GCC countries amounted to $12 billion, urged Gulf countries to increase the amount of their investments in Turkey and called on women entrepreneurs to act in a more venturesome way.