Türkiye is working to attract international technology giants, Treasury and Finance Minister Mehmet Şimşek said on Tuesday, part of its strategy to boost productivity and strengthen its technological ecosystem.
Şimşek was speaking at Saudi Arabia’s flagship investment conference, the Future Investment Initiative Forum (FII), which kicked off in Riyadh.
Şimşek highlighted that globalization has been one of the strongest engines of global growth, noting that since 1990 the volume of world trade has expanded nearly sixfold, lifting around 1 billion people out of poverty.
That’s why Türkiye has continued to remain open to the outside world, according to the minister, who said the country is aware of the importance of regional and global integration and it is reaping the benefits.
Emphasizing the need to mitigate risks in certain areas alongside the benefits of globalization, Şimşek said Türkiye remains open to cooperation and is also developing its own capabilities in areas such as energy supply security, health and biotechnology and artificial intelligence.
When it comes to data, he said critical issues like privacy and cybersecurity require nations to build own competencies, according to Anadolu Agency (AA).
Şimşek also noted that while he believes in the overall benefits of globalization, its imbalances must be managed.
Also touching on the tariffs and protectionism, he emphasized that tariffs are a form of protectionism and do not benefit economies in the long run.
He said he believed that free trade agreements also serve as an important shield against protectionism, adding that they have almost finalized the agreement with the U.K. and are working on updating the customs union with the EU.
Growing global prosperity
Also addressing the forum, Vice President Cevdet Yılmaz said Türkiye is working with an aim to “jointly grow global prosperity based on green transformation, digitalization, investment-friendly policies, and global cooperation.”
Vice President Cevdet Yılmaz and Treasury and Finance Minister Mehmet Şimşek attend the Future Investment Initiative Forum (FII), Riyadh, Saudi Arabia, Oct. 29, 2025. (AA Photo)
Yılmaz was speaking at a roundtable discussion on “the true cost of economic security,” which was moderated by former Italian Prime Minister Matteo Renzi.
The meeting focused on the future of global trade, the impact of geopolitical developments on investment, new opportunities led by digital and green transformation, and developing a fair, sustainable, and inclusive approach to growth.
“As Türkiye, we are advocating for a vision of an open and resilient economy, strengthened by strategic diversification,” Yılmaz wrote on Turkish social media platform NSosyal.
“With our strategic geographic location, strong production infrastructure, and innovative startup ecosystem, Türkiye continues to be a reliable logistics hub between Europe, Asia, and the Middle East,” he added.
The Daily Sabah Newsletter
Keep up to date with what’s happening in Turkey,
it’s region and the world.
SIGN ME UP
You can unsubscribe at any time. By signing up you are agreeing to our Terms of Use and Privacy Policy.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Images are for reference only.Images and contents gathered automatic from google or 3rd party sources.All rights on the images and contents are with their legal original owners.
