Press Release           Beirut 28/4/2008

The 3rd Turkish Arab Economic Forum
To be held in Istanbul on 12 June 2008

The First Turkish Arab Finance Summit

The 3rd Turkish Arab Economic Forum will be held under the patronage of H.E. Recep Tayyib Erdogan, the Prime Minister of Turkey. The Forum is organized by Al-Iktissad Wal-Aamal Group, in cooperation with the Finance Ministry and the Foreign Economic Relations Board in Turkey (DEIK) and the League of Arab States. The Forum, in its 3rd edition, acquires a special importance as it will witness a finance summit, for which the Turkish Finance Minister has invited his counterparts in the Arab World and neighboring countries to summit consider and discuss the future of Turkish-Arab finance and investment relations, and mechanisms of improving coordination on major regional and international issues. Ministers and businessmen from countries, like Turkmenstan, Azerbaijan and Kazakhstan, will participate in the Forum.

The Forum comes after the address, which the Secretary General of the League of Arab States made at the 2006 Forum, for broadening the framework of the Forum and developing it from an economic event for businessmen and investors to a platform that can tackle all financial and strategic relations between Turkey and the Arab World, including coordination on the level of political leadership and the participation of the private sector in these countries.

TAF-08 also comes at a time of considerable potential for economic ties and cooperation between Turkey and the Arab countries. On its part, Turkey has witnessed growth rates averaging more than 7% annually, since 2003, especially amidst continuing economic reform and growing investment opportunities.While in the Arab world, a comprehensive process of reform and structural change is underway, supported by unprecedented oil surpluses, resulting in numerous projects of Arab investment in Turkey, in addition to a rush of new development plans and projects, especially in the Gulf countries.

A host of well-known speakers from Turkey, the Arab world, Eurasia and other countries will participate in the Forum, along with policy makers, investors and leaders of famous Arab, Turkish and international companies. The event will constitute a platform for discussing and analyzing issues related to cooperation and economic ties between Turkey and the Arab World. Some of the main topics on the agenda of the Forum include:

• An update on economic developments, economic reform and the changing investment environments in Turkey and the Arab countries.
• A “Finance Summit” for the ministries of finance of Turkey and invited countries to discuss improving links between Arab and Turkish financial markets.
• Political and economic cooperation between Turkey, the Arab world and the Eurasian countries.
• Prospects for joint projects in oil and gas, heavy and manufacturing industry, and infrastructure development.
• Business and investment opportunities in various sectors and development projects, and the privatization program in Turkey and the Arab countries.
• Turkish-Arab partnerships in land development and real estate projects
• Possibilities of Turkish-Arab cooperation and coordination in water resources and energy.

The event is sponsored by BankMed, The National Commercial Saudi Bank, Saudi Cables and Credit Card Services Company.

TAF 2006 was attended by H.E. Recep Tayyip Erdogan along with the participation of the Secretary General of the League of Arab States. H.E. Amro Moussa, Deputy Prime Minister of Iraq, Dr. Barham Saleh, and the Lebanese Prime Minister, H.E. Fouad Siniora.