World Economic Forum in Turkey

Connecting Regions - Creating New Opportunities
Istanbul, Turkey 23-24 November

Read the summit report

Over 400 high-level participants from international business, political leaders as well as top Turkish business people and government officials are participating in the second World Economic Forum to be held in Turkey since 1998. The meeting comes at a crucial time for Turkey; with the start of EU accession talks, the country has entered a new stage of economic and political development, which will require many tough choices.

Watch the Opening Plenary - EU membership will connect civilizations, says Turkish PM

From the meeting:

 Turkish Prime Minister: “We have fulfilled our promises”
 Recent EU members support Turkey
 EU aspirations trigger market reforms
 Energy role 'not critical' to Turkey's EU drive
 Middle East leaders identify peace as the key to growth
 EU membership will connect civilizations, says Turkish PM
 Quotes

Friday 24 November

 Turkish Prime Minister: “We have fulfilled our promises”

Turkey has met its obligations as it pursues negotiations for membership in the European Union, the Turkish Prime Minister, Recep Tayyip Erdogan, told participants in the closing session of the World Economic Forum in Turkey. “We have fulfilled whatever promises we made,” Erdogan said. He added: “We know there are difficulties to come. But we are continuing to move forward with great patience. The responsibility falls more on the EU than on Turkey. We are looking for political common sense.”
Press release

 Recent EU members support Turkey

New members to the EU have encouraged Turkey’s bid for membership. Bogdan Pascu, Deputy Prime Minister of Romania, whose country will join the EU in January 2007, said the path to accession was long and required immense adjustments to domestic policies. He added that more than 60% of the population are supportive of becoming a member and of enlargement, including an enlargement that includes Turkey.

In order to become EU members, Central and Eastern European countries have gone through profound reforms. EU membership has brought many benefits, but also disappointments. This session focused on identifying potential lessons for a country like Turkey as it embarks on the long road to EU accession.
Session summary I Photos

 EU aspirations trigger market reforms
Turkey has benefited from its recent market reforms and now enjoys a GDP growth rate exceeding 8% and low inflation, said Peter D. Sutherland, Chairman, Goldman Sachs International, United Kingdom and Co-Chair of the World Economic Forum in Turkey. He cautioned participants against complacency however, saying that, “Turkey’s aspirations have also exposed it further to the global economy”.

Ali Babacan, Minister of the Economy of Turkey, and Chief Negotiator for the European Union, further highlighted some of his country’s recent economic achievements, including high growth, a lower budget deficit, higher productivity and exports, increased FDI inflow and a healthy macroeconomic environment. “For any country to be able to attract investments, to be able to have an advantage over other countries,” the minister said, “stability, both political and economic, is a must.”
Session summary

 Energy role 'not critical' to Turkey's EU drive
Turkey’s role in the energy world is exaggerated, Gareth Evans, President, International Crisis Group, Belgium said during an energy session of the World Economic Forum in Turkey. “People should consider that Turkey’s significance does not stem from its role as an energy supplier,” he advised. Evans stressed that other geopolitical issues will be a more important factor for Turkey’s potential as an EU member than its role as an energy hub.
Photos I Session summary

Thursday 23 November

 Middle East leaders identify peace as the key to growth
In a session that addressed regional stability in the Middle East, leaders identified the Israeli-Palestinian conflict as the central underlying problem afflicting the region and reminded regional governments that economic progress follows political reform.

“Sadly enough, the peace process cannot be led by business,” said M. Shafik Gabr, Chairman and Managing Director, Artoc Group for Investment & Development, Egypt, but he added that political action alone - without business leadership - was not enough.

Abdullah Gül, Deputy Prime Minister and Minister of Foreign Affairs of Turkey, agreed that political reform leads to economic success, and he said that transparency and freedom are necessary for progress in regional stability. He singled out NGOs and the nurturing of civil society as essential. “I attach a high level of importance to NGOs in strengthening the region,” he said.
Photos I Session summary

  EU membership will connect civilizations, says Turkish PM
Turkey’s joining the European Union will be an important contribution to global peace and prosperity, Turkish Prime Minister Recep Tayyip Erdogan said in a keynote address to participants in the opening session of the World Economic Forum in Turkey today. "Turkey’s membership in the EU will be an important example of how an alliance of civilizations can be achieved," he declared. But there are those who do not see the benefits, he acknowledged. Nevertheless, the prime minister stressed that, "We should work together so we can achieve world peace and push out global terror and the clash of civilizations."
Press release I Session summary I Photos

 Quotes

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"Female employment in our part of the world has contributed more to the global economy than China."

Neelie Kroes, Commissioner, Competition, European Commission, Brussels

Co-Chairs
Victor Halberstadt, Professor of Public Economics, Leiden University, Netherlands
Muhtar A. Kent, President, Coca-Cola International, USA
Güler Sabanci, Chair and Managing Director, Sabanci Holding, Turkey
Peter Sutherland, Chairman, Goldman Sachs International, UK

Interview
Felix Howald talks about the main issues that were discussed at the World Economic Forum in Turkey.

Programme Pillars
The programme is built on four pillars to guide discussions:
1. EU Accession
Assess the many tough choices related to Turkey’s EU accession that must be made on both sides.
- Update on Turkey, the Region and the EU
- Turkey and the EU: Mutually Influential – Mutually Beneficial?
- Branding Turkey: Changing Perceptions
- Thinking Strategically: Turkey’s Role in Mitigating Europe’s Risk
- Benchmarking EU Enlargement

2. Geopolitical Role
Understand Turkey’s role in the region and explore its potential to mitigate Europe’s emerging risks, particularly in energy security.
- Global Energy Security Update: European Perspective
- Global Risks Update
- Guardians of Europe’s Energy
- Defining the Path Towards Regional Stability

3. Competitiveness & Business Opportunities
Examine Turkey’s long-term comparative advantages and translate them into concrete business opportunities.
- Competitiveness Update: Turkey and the World
- How Will Education Shape Turkey’s Future?
- FDI: The Colour of Money
- Creating a Regional Hub for Financial Services
- Stimulating Sectoral Innovation
- Defining Turkey’s Long-term Comparative Advantages?
- Privatization – What’s Next?

4. Bridging Civilizations
Understand the essence of intercultural dialogue, explore the main differences between civilizations and identify effective instruments to overcome divergences.
- Taking Stock of Intercultural Dialogue
- The Economics of Gender (In)equality