Ladies and Gentlemen,

Let me begin by thanking Barış Öney and Zehra Öney for their great work. Globalturk Capital Forum has already become one of the signature gatherings of the year on Türkiye and the Turkish markets.

As in previous years, we have among us distinguished economists who will provide you with detailed analysis and data.

Allow me to offer a broader geopolitical perspective. We are once again facing a serious crisis.

The conflict in the Middle East is no longer a regional issue. It is spreading fast and reaching further. We are all beginning to feel its consequences.

There are growing risks to energy security, food security, transportation, and trade.

If the conflict persists, it will translate into higher inflation and lower growth across our economies.

There is also the risk of irregular migration flows. This is not only a concern for Türkiye as a neighbouring country, but for Europe as a whole, including the UK.

In addition, prolonged instability increases the risk of terrorism.

A scenario in which Iran becomes a failed state would have far-reaching consequences, not only for the region, but for everyone else, notably Europe.

And yet, despite this challenging picture, there is also a more positive perspective.

As diplomats, we are, by nature, eternal optimists. And in every crisis, there is also opportunity.

If tensions de-escalate in the near term, and if Türkiye remains outside the conflict, our country will emerge stronger and its strategic relevance will increase further.

It will further consolidate its position as a safe and reliable destination for investment and business.

Türkiye will also play a more prominent role as an energy hub and a key transit country linking the Middle East with Europe. Relevant projects, including the Development Road, are already on the table.

At the same time, a deal will bring a degree of calm for some time for both Iraq and Syria. Greater stability in these neighbouring countries would open significant opportunities for reconstruction, trade, and services, areas where Turkish companies have strong capabilities.

Similarly, in a more favourable trajectory, the eventual end of the war in Ukraine would create further opportunities for Türkiye to contribute to large-scale reconstruction efforts.

These would also have positive implications for Türkiye’s relations with its Western partners, including the EU, particularly at a time when Europe is rethinking its defence, economic security, competitiveness and supply chain resilience.

This scenario may sound optimistic. But it is also realistic.

First, no country in the region, save Israel, has an interest in the continuation of this conflict.

Second, countries beyond the region, including the UK and China, want to see an end to the conflict.

Third, Gulf countries are exercising restraint to avoid further escalation and so is Türkiye.

Fourth, this is about Türkiye’s resilience.

Resilience discourse may sound sloganic. But remember, in our lifetimes, we have witnessed the Iran–Iraq War, conflicts in the Gulf, a prolonged war in Syria, instability in the Caucasus and the Balkans, and the ongoing war in Ukraine.

Despite all this, Türkiye has continued to adapt, grow, and project soft power and stability.

With our dynamic population, strong military, robust industrial base and entrepreneurial spirit, we believe in this resilience. And we are working actively to preserve it.

Ladies and gentlemen,

Türkiye is heavily engaged in intensive diplomatic efforts. Our President and Foreign Minister are in constant contact with their counterparts.

We are in close coordination with our partners and allies, including the UK, the US, and key regional actors such as Pakistan and Egypt.

Our priority is clear: to prevent further escalation and to limit the damage to our countries and societies.

What is at stake is significant. And we will continue to shoulder this responsibility to promote stability.

Thank you.