Turkey and the GCC: ‘A win-win dynamic,’ economists say
Momentum is building for economic relations between the Gulf States and Turkey, economists say. Turkey can increase the existing trade volume with the Gulf States by setting sector-based targets and by taking advantage of international conditions, according to Sedat Kutlu, an expert with the Turkish Arab Countries Businessmen’s Association. Exports and imports can open access to a broad base of businesspeople, The Economist Intelligence Unit noted in a July report that Turkey is developing as an increasingly important economic partner for the Cooperation Council for the Arab States of the Gulf (GCC) countries. Trade volume between Turkey and the GCC was close to $16 billion in 2014, according to EIU statistics, up from about $5 billion in 2005.
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