Turkey & Gulf Cooperation Council in search of partnership for construction projects

November 2, 2016June 27, 2017 BTT

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Turkish businesspeople from the Union of Chambers and Commodity Exchanges of Turkey (TOBB) arrived in Bahrain yesterday, accompanied by Customs and Trade Minister Bülent Tüfenkçi, for the second Turkey-GCC Business and Investment Forum on “Strategic Economic Partnership”. The forum hosts 800 delegates from Bahrain, Qatar, Saudi Arabia and the Arab states.

A total of 250 Turkish participants attended the forum to discuss construction projects worth $1 trillion with members of the Gulf Cooperation Council (GCC), including the United Arab Emirates (UAE) which holds $428 billion in the projects, and Saudi Arabia which has invested $417 billion. Turkey’s major construction firms continued talks with Arab states regarding potential investments in the project. Turkish investments are considered a “safe haven” by Gulf countries in the wake of the controversial Justice Against Sponsors of Terrorism Act (JASTA) in the U.S., which threatens Arab investments in the West.