Politics · Turkey · 9 hrs ago
Şimşek says Gulf war will reshape the region and its economy
Turkey’s Finance Minister Mehmet Şimşek said the Gulf war could reshape the region during a TRT World Forum session in Istanbul.
He said the conflict has caused a major short-term energy supply shock and reduced trade in countries near the fighting.
He said lasting economic recovery depends on a lasting peace and an end to the conflict.
Şimşek expects countries to work more closely and invest in regional links and energy security, including ways to reduce reliance on critical routes such as the Strait of Hormuz.
He said investment in alternative trade corridors could reach about $660 billion, though this was described as a possibility, not a confirmed commitment.
Turkey plans to keep investing in regional connections, including the Middle Corridor and the proposed Development Road route linking the Gulf through Turkey to China and Europe.
Turkish Treasury and Finance Minister Mehmet Şimşek said the Gulf war could fundamentally change the region’s economies.
He said the conflict had caused a major short-term energy supply shock and hurt economies, especially in countries on the front line.
Şimşek said a lasting recovery depended on peace and an end to the fighting.
He expected regional economic integration, energy security and investment in alternative trade routes to gain importance.
He said investment in alternative trade corridors could reach about $660 billion.
- Who
- Mehmet Şimşek, Turkey’s Treasury and Finance Minister.
- What
- He said the Gulf war could reshape regional economies and increase the importance of cooperation, energy security and alternative trade routes.
- When
- At the TRT World Forum’s closing session, reported on November 7 and 8, 2026.
- Where
- The forum was held at the Istanbul Congress Center in Istanbul.
- Why
- Şimşek said the war had caused an energy supply shock and harmed regional economies. He said lasting recovery depended on peace.
This story does not have two clearly opposing sides.
TRT has held the TRT World Forum, which brings together leading figures from around the world.
Şimşek spoke at the forum’s closing session about the economic effects of war and the region’s future outlook.
- Forum venue
- Istanbul Congress Center, Istanbul
- Alternative trade corridor investment
- About $660 billion
- Turkey’s free trade agreements
- 54, covering about 70% of exports
- Pending free trade agreements
- 3
3 sources
What people are saying
Investing in regional connectivity is, in my view, quite likely. In fact, doing so is an obvious necessity.
Regional connectivity investment is, in my view, quite likely. In fact, doing so is an obvious necessity.
Türkiye is likely to benefit significantly from all these developments.