ABU DHABI - Turkish State Minister Kursad Tuzmen said, "United Arab Emirates will realize 400 billion USD of projects in the next 10-15 years. Turkey`s target is to take share worth of 40 billion USD from these projects."
Tuzmen added, "there is a cloud of investment (worth of 500 billion USD) in Gulf countries, and we are trying to draw this cloud to Turkey."
Speaking to reporters in Abu Dhabi --where he attended the 11th International Business Forum organized by Turkish Independent Industrialists` & Businessmen`s Association (MUSIAD)-- Tuzmen said, "in the next 10-15 years, Abu Dhabi Emirate will realize projects worth of over 170 billion USD, and Dubai Emirate worth of 230 billion USD. Tenders (for these projects) will be held in coming years. This presents very big opportunities for Turkish contractors. Turkish companies should carefully follow these tenders. The most important thing they will do is to find reliable local partners."
Tuzmen noted that rise in oil prices brought huge amount of capital cumulation in Gulf countries, adding, "there is a cloud of investment (worth of 500 billion USD) in Gulf countries looking for a place to pour. We are trying to draw this investment cloud to Turkey."
He said that investors from Abu Dhabi want to focus on automotive, banking, petro-chemical and agricultural areas in Turkey.
Tuzmen said that Turkey has to sign free trade agreements with UAE and Gulf countries to boost commerce with these countries.
Tuzmen will return to Turkey on Wednesday evening.