Senior ADDAX Management meet with Turkish Prime Minister

Date : 19 December 2006

Addax Investment Bank explores investment opportunities in Turkey.

A delegation from Addax Investment Bank recently visited Turkey to explore investment opportunities in the country. The team which included Yousef Al-Essa, CEO, Addax Investment Bank and Jassim Hasssan Ali Zainal, Managing Director, Addax Investment Bank met with the Turkish Prime Minister Recep Tayyip Erdogan, Central Bank officials and other prominent members from Turkey’s business community.

Speaking after his visit to Turkey, Al- Essa said, “After overcoming the many challenges of the last two decades, Turkey has undergone major economic reform in the past five years and is now on the path to impressive economic development. Turkey’s economy is growing at an average rate of 5 per cent per year; the majority of this growth is fuelled by the private sector, which is extremely encouraging.”

“The country’s inflation rate has also dropped dramatically with the Government targeting an inflation rate of 8 per cent, in line with the rest of Europe.

As relations between the EU and Turkey continue to improve, Turkey is soon expected to become a major contributor to the economic growth of the EU. Having identified Turkey as a high-growth market, Addax Investment Bank plans to re-visit Turkey in the coming months to solidify investment opportunities.