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TOBB says Turkey, Arabic
world must establish
ART & CULTURE
FAMILY & HEALTH barter bank
Hisarciklioglu, said Thursday Turkey and the Arabic world
ISLAM must establish a barter bank.
TECHNOLOGY Thursday, 10 June 2010 13:34
ENVIRONMENT President of the Executive Board of the Union of Chambers and Commodity Exchanges of Turkey (TOBB),
Rifat Hisarciklioglu, said Thursday Turkey and the Arabic w orld must establish a barter bank.
The Third Meeting of Foreign Ministers of Turkish-Arab Cooperation Forum (TAC) began together w ith TAC
WRITERS Economic Forum at the Four Seasons Hotel in Istanbul.
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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.
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The Arabic w orld, 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 w orld, Hisarciklioglu said.
At a time w hen the balance of pow er is being re-shaped, it is the common wish of the Turkish business
community to see an Arabic w orld w hich has solved its regional problems, and reached w elfare and
stability, Hisarciklioglu stressed.
We w ant to establish cooperation w ith the Arabic w orld in all fields by maximum cooperation and
integration, Hisarciklioglu said.
As the business w orld, w e favor the establishment of permanent peace and stability in the region,
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 betw een 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, w e must establish a strong banking system among
our countries. We need to create a joint barter bank. Accordingly, w e 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 betw een Turkey and Lebanon and Turkey and Gulf Cooperation
Council must be completed soon.
Once these tw o 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 w elfare, Hisarciklioglu also said.
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