ABU DHABI/ANKARA - Finance Minister Kemal Unakitan said on Thursday that capital in the Gulf countries were willing to invest in Turkey, adding, ''a great amount of source will come from these countries to Turkey. And with new debenture bonds, it will become a separate market like Eurobond.''
The Finance Minister who continues his tour of Persian Gulf countries, which aims to draw Arab capital that escaped from the West especially after the September 11 terrorist attacks, to Turkey, assessed his meetings to the A.A correspondent on the phone.
Recalling that they had held a meeting in Bahrain, which was the first stop of their tour, with investors and finance sector, and they had informed them on the situation of the Turkish economy, privatization and investing in Turkey and facilities to be offered about those issues, Unakitan said that he had also had meetings with the Finance Minister and Trade Minister of Bahrain.
Noting that a preliminary study had been carried out in Bahrain on an agreement on mutual encouragement of investments and prevention of double taxation, Unakitan said that they had decided to speed up efforts with this objective.
Stating that first the Foreign Minister and later the King of Bahrain were planning to visit Turkey, Unakitan said, ''also they want to increase their relations with Turkey.''
Recalling that they had later proceeded to Kuwait, and they had had separate meetings with foreign investors and finance sector, Unakitan said that also the investors in Kuwait had close interest in Turkey and they wanted to increase their investments in Turkey.
Noting that they had held meetings the same day in Abu Dhabi, the United Arab Emirates, he said that they would proceed to Dubai later in the day.
''We have been holding very beneficial meetings. It is our first visit of promotion like a road show in the Gulf countries. There is not only Arab capital but also leading finance organizations are here. We have the intention of drawing Arab capital to Turkey. It is difficult to mention right now the amount of source to come. We have to continuously hold meetings and expend efforts here. These are important markets. I say that a considerable amount of source comes to Turkey if we continuously hold meetings and expend efforts. You will see that we will get good results soon,'' he said.
Stating that during their meetings, investors had told them that they would show great interest in the notes like Eurobond that Turkey would issue in their markets, Unakitan said that necessary legal arrangements about the issue would be made in Turkey.
''We are making changes in order to issue debenture bonds appropriate to these markets. After they finish, this region becomes a separate market like Eurobond. Not only Islamic organizations but also all organizations are interested in this. If the second markets of these debenture bonds is formed, this place becomes second market. I don't want to give any figure, but I suppose that this region would become a market as equal as Eurobond,' he said.
Unakitan said that investors in the Gulf countries were also interested in privatization in Turkey, and they had gotten information about it.
Stressing that investors in Gulf countries also wanted to invest in tourism sector in Turkey, Unakitan said that Arab businessmen wanted to make big investments in tourism in Turkey and they also wanted easier visa procedures.
Noting that investors in all three countries had great interest in real estate, Unakitan said, ''as you know, we have a new legal arrangement about the issue. They say that they would purchase a great amount of real estate in Turkey.''
(MS-AÖ) 19.06.2003