Istanbul hosts Turkish-Arab Economic Forum for further cooperation

The one-day event on Thursday gathers ministers, experts, representatives, and economists from various institutions from Kuwait, Iraq, Egypt, Libya, and Tunisia, focusing on enhancing economic ties between Türkiye and the Arab world.

Moderating a key panel, Turkish Finance Minister Mehmet Simsek addressed the global uncertainties affecting growth and trade, highlighting that the world is experiencing significant challenges.

“At a time when the world faces great uncertainties, these issues are restricting growth. While trade generally drives growth, global trade is currently experiencing a slowdown,” said Simsek.

Despite these challenges, Simsek remained optimistic, stating that there are also significant opportunities for collaboration. “Although there are difficulties, there are also opportunities. We need to view things from this perspective,” he said, emphasising the potential for Türkiye and the Arab world to complement each other across various sectors.

He also pointed to the rapid development of technology, specifically artificial intelligence (AI), as a transformative force. “We are witnessing a global AI revolution that will not only bring an industrial revolution but will impact every aspect of our lives. This is a revolution we cannot afford to miss,” he noted.

Simsek expressed hope that the forum would foster beneficial partnerships between Türkiye and the Arab world, highlighting the strong potential for cooperation in various industries.