- Title: LEBANON: Prime Minister Recep Tayyip Erdogan urges Arab investment in Turkey
- Date: 26th November 2010
- Summary: BEIRUT, LEBANON (NOVEMBER 25, 2010) (REUTERS) **CONTAINS FLASH PHOTOGRAPHY** CONFERENCE OF THE UNION OF ARAB BANKS / ATTENDANTS SEATED ATTENDANTS BANNER ADVERTISING THE CONFERENCE VARIOUS OF STANDS PROMOTING ARAB BANKS CONFERENCE VENUE LEBANESE PRIME MINISTER SAAD HARIRI AND TURKISH PRIME MINISTER RECEP TAYYIP ERDOGAN ATTENDING THE CONFERENCE HARIRI / ERDOGAN ERDOG
- Embargoed: 11th December 2010 12:00
- Keywords:
- Location: Lebanon
- Country: Lebanon
- Topics: International Relations
- Reuters ID: LVA6BSR40URAKXAIDVGCOF7G59SZ
- Story Text: Lebanese and Turkish leaders said on Thursday (November 25) they hoped to attract more foreign investment to their countries while forging stronger bilateral ties.
Speaking at the annual Union of Arab Banks conference in Beirut, Turkish prime minister Recep Tayyip Erdogan said he wanted more Arab investors to venture into the Turkish market.
Erdogan is on the second day of an official visit to Beirut. On Wednesday (November 24), Erdogan and Lebanese PM Saad al-Hariri signed an agreement to set up a free trade zone between their two countries.
In the Erdogan era, Turkey has moved towards building stronger ties with its Arab neighbours including Lebanon, Syria, Jordan as well as the Gulf Arab countries.
"Turkey has overcome the international crisis and its attractiveness (for investment) has increased, and those who will snap this opportunity up early will be the winners. I personally assure you that I will be following your investment businesses, for there is an investment agency that directly reports to me and I can assure you that it will offer you all the support that you need," Erdogan said.
Earlier this year, Lebanon and Turkey eliminated visa requirements between them. Erdogan urged the lifting of visa restrictions be broadened across the region to help boost economies.
"Today our brothers are embracing each other and visiting each other and businessmen are exchanging visits to our countries without any restrictions. We have developed all forms of cooperation. And it is not just Turkey that benefits from this openness, all the countries benefit from this. The European Union calls it Schengen, why don't we in the region form the same thing?"
As well as Lebanon, Turkey has already signed visa-free agreements with Jordan, Syria and Libya.
Meanwhile, Hariri said Lebanon was looking to increase the volume of trade exchange with Turkey and strengthen ties between their private sectors.
"We are looking forward today to improving the channels of cooperation between Lebanon and Turkey in the economic, development and investment fields. The business environment in Lebanon is now ready to attract foreign investments including Turkish investment in our promising economic sectors. We are working towards developing a partnership between the Lebanese and Turkish private sector and we are looking to increase the volume of trade exchanged between the two sides," Hariri said.
Erdogan said on Wednesday (November 25) his country wants to help Lebanese leaders overcome differences between them which have raised political tensions in recent days because of the international tribunal investigating the killers of Hariri's father and ex-premier, Rafik.
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