D-8 to Deepen Mining, Energy Cooperation: Turkey will Intensify Investments Initiatives in D-8 Countries

Istanbul, Turkey | September 14, 2009 by D-8 Secretariat

Turkish Energy Minister Taner Yildiz had a meeting with Dipo Alam, Secretary-General of D-8, in the Ministerial Complex of Dolmabahce, Istanbul

D-8 Organization willing to work together with Turkey on renewable energy and also to import boron, Turkish energy minister said earlier this month.

Turkish Energy Minister Taner Yildiz had a meeting with Dipo Alam, Secretary-General of D-8, in the Ministerial Complex of Dolmabahce, Istanbul, to discuss various potential in the natural resources within the D-8 countries.

Alam said that the meeting was very productive and especially focused on energy. He said that D-8 countries demanded boron from Turkey, one of world’s largest boron producers, adding that Turkey could also export some other mines to these countries.

Yildiz said that D-8 Countries have a strong demand for renewable energy, and this would mean good opportunities are abundant for investment in this sector, espeically in the wind energy. “We see that there are strong demand to the renewable energy from countries such as Indonesia and Malaysia, both from the private and public sector,” said Yildiz. He stressed the need of Turkish companies to be introduced to this opportunities and drew a similar analogy to the renowned success of Turkish construction companies in the developing world. “With some sort of consortium, we are also in the position to succeed in this sector,” Yildiz said. He also said that he will cooperate more intensely with D-8 to work on various funding opportunities with the OPEC fund, and shall assign special desk at his ministry for the D-8 cooperation.

D-8 was established by the initiative of Turkish government on June 15th, 1997. As the organization progressed, now the intra-trade growth has seen significant increase, where in 2006 was US$ 35 billion and increased to US$ 64 billion in 2007; and in 2008, the intra-trade increased again to US$ 78 billion from total trade with the world at US$ 1.2 Trillion.

Turkey’s trade volume with D-8 countries rose 27 percent in 2008 to 18 billion USD, 4.3 billion exports and 13.6 billion imports

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