TOBB says Turkey, Arabic world must establish barter bank

Hisarciklioglu, said Thursday Turkey and the Arabic world must establish a barter bank.

TOBB says Turkey, Arabic world must establish barter bank

President of the Executive Board of the Union of Chambers and Commodity Exchanges of Turkey (TOBB), Rifat Hisarciklioglu, said Thursday Turkey and the Arabic world must establish a barter bank.

The Third Meeting of Foreign Ministers of Turkish-Arab Cooperation Forum (TAC) began together with TAC Economic Forum at the Four Seasons Hotel in Istanbul.

Speaking at the inauguration of the meeting, Hisarciklioglu thanked Turkish Prime Minister Recep Tayyip Erdogan for his support extended to the TAC for the past five years.

The Arabic world, extending from the Atlantic Ocean to the Persian Gulf, with a population of around 350 million people has a special place in the heart of the Turkish business world, Hisarciklioglu said.

At a time when the balance of power is being re-shaped, it is the common wish of the Turkish business community to see an Arabic world which has solved its regional problems, and reached welfare and stability, Hisarciklioglu stressed.

We want to establish cooperation with the Arabic world in all fields by maximum cooperation and integration, Hisarciklioglu said.

As the business world, we favor the establishment of permanent peace and stability in the region, Hisarciklioglu said.

The history of our region shows us that no problem could be solved by the use of force. We are against embargoes, isolations and military interventions, Hisarciklioglu said.

Commercial relations between Turkey and Arab countries developed significantly in the past several years, Hisarciklioglu noted.

There are things we must do in order to continue this nice trend. We must first of all modernize the transportation net among our countries. Secondly, we must establish a strong banking system among our countries. We need to create a joint barter bank. Accordingly, we can reduce the dependency of Turkish and Arabic businesspeople on foreign banks. We can preserve the financial resources of the region in the region, Hisarciklioglu said.

Touching on the importance of lifting obstacles in the face of commerce, Hisarciklioglu said that the negotiations on free trade agreement between Turkey and Lebanon and Turkey and Gulf Cooperation Council must be completed soon.

Once these two agreements get signed, a vast area of free trade between the Eastern Mediterranean and Persian Gulf would be created, Hisarciklioglu said.

We invite Arab companies and investment funds to make more investments in Turkey. Let us work together to turn our region into one of peace, stability and welfare, Hisarciklioglu also said.


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Last Mod: 10 Haziran 2010, 13:34
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