GCC-Turkiye Economic Forum Launched in Istanbul

The GCC-Turkiye Economic Forum launched in Istanbul with the participation of a number of officials and businessmen to strengthen relations between the GCC countries and Turkiye, as well as increase the volume of trade exchange between the two sides.

Turkish Minister of Treasury and Finance Mehmet Simsek said during his participation in the forum alongside an elite group of officials and business owners that the risk premium index in Turkiye has fallen to almost half, therefore the investor confidence has increased, and this will lead to an influx of capital.

Simsek explained that the risk premium index in Turkiye fell to less than 400 basis points, which was at the level of 700 points last May. This level of decline means that investor confidence is increasing, which will lead to capital inflow.

The Turkish Minister stated that his country has advanced capabilities in the industry field thanks to production diversity, as well as Turkiye being in a key position for access to the markets of Europe and Central Asia.

Increasing cooperation between parties through ways such as free trade agreements will contribute to diversifying the production of the GCC countries, accelerating mutual trade and investments and increasing the potential of other sectors such as tourism and construction, Simsek added.