By: Ahmad Awad

Kuwait-Mubasher: Turkish exports to Arab countries reached $42.7 billion in 2014, said Turkish economy minister Nihat Zeybekçi.

He added that the trade exchange between Turkey and Arab countries jumped by 300% in the past ten years to $53 billion in 2014 from $13 billion, with anticipation to raise the exports to $70 billion by the first quarter of 2017.

Turkey has been building an industrial zone in Iraq, Zeybekçi said, on the sidelines of the Arab-Turkish commerce meeting held in Kuwait.

The minister noted that Turkish exports totaled $171 billion in 2014.

The Arab direct investments amounted to $11 billion, the minister said, asking the Arab investors to increase their investments in Turkey.

Zeybekçi clarified that the main source of European investments in Turkey is Arab funds established in Europe.

Turkey plans to make the gross domestic product reach $2 trillion in 2023, concluded the minister.