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Turkey to enhance relations with Arab countries

06-18-2010 11:42 BJT

ISTANBUL, June 17 (Xinhua) -- Turkey said on Thursday that it will enhance its relations with Arab countries, saying there was great potential in Turkish-Arab relations, the semi-official Anatolia news agency reported.

The statement was made by State Minister and Deputy Prime Minister Ali Babacan at the International Arab Banking Summit 2010: From Crisis to Financial Stability.

The report quoted him as saying that "the background, all materials and everything else are ready. There is only a need for political will for Turkish-Arab relations."

"Everything is ready to develop Turkish-Arab relations. This is what our peoples want. Our peoples and societies are celebrating coming together again," Babacan added.

He said the International Arab Banking Summit held in Turkey would contribute to financial relations between Turkey and the Arab world. Union of Arab Banks has 400 members and assets over 2 trillion U.S. dollars.

"Turkey's trade volume with Arab countries was only 7 billion dollars in 2002, however it climbed to 37 billion dollars in 2008, " Babacan said during the summit in Istanbul.

The minister said Turkey was planning to make Istanbul a global finance center, and had prepared and started to implement an action plan.

The Union of Arab Banks is organizing the two-day International Arab Banking Summit in Istanbul in cooperation with the Central Bank of Turkey, the Banks Association of Turkey, the Banking Regulation and Supervision Agency of Turkey, and the World Union of Arab Bankers.


Editor:Du Xiaodan |Source: Xinhua

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