31.10.2016 Ankara
Turkish business community is discussing cooperation opportunities with Gulf countries, a market with a total GDP of 1.7 trillion USD. A delegation of 250 businessmen lead by TOBB President Hisarcıklıoğlu will attend the business and investment forum in Bahrain. Close to 300 companies from Gulf Cooperation Council (GCC) members Bahrain, UAE, Qatar, Kuwait, Oman and Saudi Arabia as well as 60 Turkish companies operating in these countries will seek partnership and cooperation opportunities.
The 2nd
TOBB-FGCCC Business and Investment Forum will be held by TOBB and the
Federation of GCC Chambers (FGCCC) in Bahrain on the 1st and 2nd
of November, 2016, under the auspices of Bahrain Prime Minister Sheikh Khalifa
bin Salman al Khalifa.
- Hisarcıklıoğlu: An important opportunity
In his address, TOBB
President M. Rifat Hisarcıklıoğlu stated, referencing the fact that the FTA
discussions have been resumed, the organization is an important opportunity to
increase cooperation with the power of Gulf countries. He reported that sectoral
meetings of companies active in agriculture and food, renewable energy, energy,
oil and gas, defense industry, banking, finance and insurance, real estate,
automotive and supply industry, chemical products, cosmetics and cleaning
products, construction and infrastructure, construction materials, health and
medicine, , Machinery and equipment, mining, textile and apparel, tourism,
transport and logistics, electronics and telecommunication and franchising are
planned to take place during the forum.
- Power of the Gulf countries
Gulf countries hold
50% of all global petroleum reserves as well as financial reserves. Combined
GDP of GCC members Bahrain, UAE, Qatar, Kuwait, Oman and Saudi Arabia reaches
1.7 trillion USD. Combined populations of these countries is 47 million, with a
per capita income of 36,000USD.
- Gulf Countries undergoing economic transformation
Petroleum and natural
gas rich Gulf countries are working to diversify their production structures with
recent drops in the price of these goods increasing intensity of efforts.
Pre-crisis growth of
relations between Turkey and Gulf countries averaged around 33% annually.
Bilateral trade volume of 1.8 billion USD in 2000 has reached 16.4 billion USD,
there is a wide field of cooperation between Turkey and Gulf countries.