Gulf states with $500 bln funds to meet in Istanbul

ISTANBUL — Businessmen from Gulf countries are set to negotiate investment opportunities in Turkey during the two-day International Investment Summit in Istanbul on Thursday.

Last week, Turkish President Abdullah Gül called on investors from Kuwait, Qatar, Saudi Arabia and the United Arab Emirates (UAE) to boost investments and cooperation with Turkey.

Gul assured them of political stability and high profitability.

On Thursday, investors will debate on the financing of megaprojects, advantages provided for investors and promotion of local projects. On Friday, talks will be held about energy transfer, renewable energy and alternative energy models.

Turkey's Foreign Minister Ahmet Davutoğlu said ahead of the summit that it would be help draw foreign capital into Turkey.

Turkish Energy and Natural Resources Minister Taner Yıldız and Development Minister Cevdet Yılmaz are expected to deliver speeches during the summit, which around 150 companies are expected to attend.

In 2008, Turkey signed a bilateral agreement with Gulf States, aiming at forging a strategic partnership in all fields.