``TURKEY HAS BECOME A RELIABLE COUNTRY FOR FOREIGN INVESTORS``
ISTANBUL (AA) - Chairman of the Chamber of Turkish-German Trade & Industry Kemal Sahin has indicated today (Wednesday) that, with its exports amounting 733 billion Euro, the world`s economic leader Germany and Turkey (that he called as `tiger of Bosphorus`) have immense potential and opportunities in front of them.
Sahin noted that Turkish-German commercial relations have reached a very important point. ``Germany is Turkey`s biggest economic partner. The Turkish economy, with its young workforce and growth rate of almost 10 percent, promises to be a heaven for German investors``, said Sahin.
Sahin stressed that the trade volume between Turkey and Germany increased by 25 percent last year, reaching 20 billion Euros. ``We expect the trade volume to increase by two fold and reach 50 billion Euros,`` expressed Sahin.
``In 2004, almost 1300 German firms were active in Turkey. They have made investments worth 4.5 billion Euros. About 62,000 Turkish firms are based in Germany. They employ approximately 370,000 individuals and earn revenues over 30 billion Euros,`` noted Sahin.
According to Sahin, Turkish entrepreneurs want to do business with Europe. ``The first European address for Turkish businessmen and businesswomen is Germany, not only because Germany is EU`s biggest market but also because 2.7 million Turks live in Germany. They are a bridge between Turkish firms and the German economy,`` commented Sahin.
Sahin said that, in the past three years, Turkey`s GNP increased 4 times. ``This GNP increase and Turkey`s young population will add momentum to Europe. Turkey could be a spring board for German firms planning to do business in Eurasia and the Middle East. If the Germans choose Turkey as their base, they can easily resist pressures from China, India and the United States,`` told Sahin.
Sahin added that Turkey has made remarkable reforms in the past years and it has become a reliable country for foreign investors. ``Red tape has been minimized in Turkey, making it attractive for German and other foreign investors. In the next 4-5 years, the total German investment in Turkey would reach 10 billion Euros,`` remarked Sahin.
The Turkish-German Economy Congress is attended by 200 Turkish and German firms and will continue until May 6th, 2005.
(SOL-ULG)
2005-05-04