www.worldbulletin.net - "We hope to make the legal arrangement and issue the first certificate within this year," Babacan said during First Business Forum of Turkey-Cooperation Council for the Arab States of the Gulf in Istanbul.
Turkey's deputy prime minister said on Tuesday that Turkey was working on a more flexible legal arrangement that would enable foreigners to purchase real estate in the country.
Ali Babacan said that Turkish Treasury was working on issuing a rent certificate,. (source)
"We hope to make the legal arrangement and issue the first certificate within this year," Babacan said during First Business Forum of Turkey-Cooperation Council for the Arab States of the Gulf in Istanbul.
Babacan said Turkey attached importance to construction of a railway that would connect Gulf states, and extending that railway to Turkey would shorten geographical distance and would link the Gulf to not only Turkey but also to Europe and Central Asia.
Trade volume between Turkey and Gulf countries climbed to 11.9 billion USD from 1.5 billion USD in nine years, from 2002 to 2011, Babacan said.
Babacan said Turkey and Gulf states should sign a free trade agreement soon in order to raise their trade volume.
Moreover, Babacan said Turkey had rehabilitated its investment climate thanks to recent economic reforms, and noted that businessmen from Gulf region could carry out joint projects with Turkish businessmen in finance, banking, construction, transportation, energy and agriculture.
Babacan said Turkish and Gulf region businessmen could also cooperate in other countries.
The minister also highlighted the importance Turkey attached to energy cooperation with Gulf states, adding that Turkey hoped member states of Cooperation Council for the Arab States of the Gulf would invest in electricity industry in Turkey.
