In parallel to many positive developments in the Turkish industry and business life, the country is now in position to raise hopes for a more successful national informatics sector. In fact it was informed by Turkish Economy Minister Zafer Caglayan that the target of the sector was to to realize an export figüre of US$ 1 billion in the sector by the end of 2013. Caglayan who made some important statements i ...

Economy Minister Zafer Caglayan said on Thursday that Spanish companies consider Turkey as the country of priority in their investments. Caglayan gave information on a meeting of CEOs which was held in Spain and chaired by Prime Minister Recep Tayyip Erdogan on November 26, saying that senior managers of 17 companies which provide 1 million people with employment, as well as the head of Employers' Confedera ...

Turkey which has been spending immense effort to improve its foreign trade performance has signed agreements with many countries all over the world. Turkey attributes great importance to its economic partners and this returns as new positive progress in the foreign trade statistics of the country. Within this frame, Turkey and South Korea are to sign free trade agreement on Aug. 1 Mr. ÇAĞLAYAN, the successf ...

A recently introduced government investment incentive program was published in the Official Gazette following the approval of the Cabinet on Wednesday. The program divides provinces into six categories based on their current level of economic development and the investment opportunities they offer.  The first category, mainly Western provinces, is the most developed, while the sixth category includes the le ...

Turkey enjoys its position as a spot of attraction for international investments from global giants.Among many companies interested in operating in Turkey, General Electric (GE) seems to be coming with the biggest potential namely an investment amount of USD 900 million. The global giant plans to undertake investments in healthcare and infrastructure projects in Turkey over the next 3 years. The decision to ...

Turkey’s exports in the first five months of the year hit a record high of $60 billion, the economy minister said. “Sixty billion [dollars] in the first five months is a first for the Turkish Republic and exports in the past 12 months have exceeded $140.5 billion,” Zafer Çağlayan said at a meeting in Ankara yesterday. While the European Union grew 1.5 percent last year the European growth figure would be at ...

Turkish FDI rise 25 pct in 2 months The flow of foreign direct investment (FDI) into Turkey increased 25 percent to $1.7 billion during the first two months of the year compared with the same period last year, Economy Minister Zafer Çağlayan said May 4. Investments constitute the cornerstone of government policy on maintaining economic development, sustainability of growth and improving the national develop ...

The United States and Turkey have for six decades enjoyed a close political and military relationship. However, our economic and business partnership has lagged behind until recently. During President Barack Obama’s 2009 trip to Turkey, he and Turkish President Abdullah Gul agreed to advance our commercial partnership to the level of our diplomatic and strategic defense relationship. According to U.S. Secre ...

With the announcement of the new incentives system, U.S. firms Pepsi, General Electric, 3M, Kimberly-Clark and Quest Diagnostics have all decided to invest in Turkey. VISITING THE WORLD'S TWO LARGEST ECONOMIES After his recent trip to China, Turkey's Minister of Economy Zafer Çağlayan has now begun his schedule of meetings in the United States. Çağlayan met with a number of administrators from leading Ameri ...

US companies introduced to Turkish incentive scheme Turkey’s new investment incentive scheme is the world’s greatest system, and will hopefully lead to an international investment boom, Economy Minister Zafer Çağlayan said yesterday at a New York meeting of the River Club. Çağlayan was explaining the new scheme to the Chief Executive Officers (CEOs) of several large American firms. On the train ride to Wash ...

Caglayan expresses hope to increase bilateral trade volume with Iran Economy Minister Zafer Caglayan, who is currently in Tehran as part of a delegation accompanying Prime Minister Recep Tayyip Erdogan, made assessments yesterday with regard to Turkey's commercial ties with Iran following the welcoming ceremony at Sadabad Palace. "Besides preferential trade, we will be holding contacts about promoting and i ...

A new incentive package that is expected to substantially help reduce Turkey’s current account deficit (CAD) is to be presented to Prime Minister Recep Tayyip Erdoğan for his review of its content and coverage on Wednesday, Economy Minister Zafer Çağlayan has said. Speaking at the International Investors Association’s (YASED) general congress meeting Tuesday in İstanbul, Çağlayan said the package will be an ...

Caglayan praises increase in direct foreign investments in Turkey Economy Minister Zafer Caglayan has said that Turkey was a safe harbor and shining star in the world with direct foreign investments which were increased by 74 percent in 2010 to reach $15.7 billion in 2011. In a statement released on Monday, Caglayan said that Turkey has been maintaining its position as a center of attraction for investors, ...

Cities in Turkey that dominate in global trade will soon be designated as “Special Turkish Economic Zones”. Sharing their plans with SABAH, Minister of Economy Çağlayan explains that these zones, which focus on trade and tourism, will be duty-free. Economic Minister Zafer Çağlayan paid a visit to SABAH, in which he explained a number of plans on the agenda to further promote Turkish trade zones. Explaining ...

Turkey views all French firms that have invested in Turkey as Turkish, Economy Minister Zafer Çağlayan said at a press conference following a closed meeting with French businessmen in Turkey on Jan. 27. “Those foreign companies – be they from France or any other country - who trustfully invested in Turkey, are Turkish companies in our eyes,” Çağlayan told reporters, amid calls for restraint against potentia ...

Turkish economy minister said on Tuesday that Turkish Eximbank would provide a loan of 250 million USD to Libya. Delivering a speech at the opening of the Turkey-Libya Business Forum in Tripoli, Economy Minister Zafer Caglayan said that he believed Libya would improve democracy and upgrade economic living standards in a very short period of time. Turkey and Turkish businessmen were resolute to keep supporti ...

Turkey posted a $5.2 billion current account deficit in November, amounting to a 13.2 percent drop as from the same period last year. On a 12-month basis, the current account deficit narrowed from $78.6 million to $77.8 million. The foreign trade deficit of Turkey also decreased by 4 percent to amount to $6.6 billion in November 2011. Furthermore, Turkey's tourism revenues increased by 13.2 percent as from ...

Saudi Arabia has lifted a 6-year-old ban on Turkish poultry imports, which was enacted after the outbreak of the bird flu epidemic in 2005, said Economy Minister Zafer Çağlayan. This opens the way for Turkish exporters to access the $1.3 billion poultry market in the Arabian kingdom, Çağlayan said. The ban was lifted for eight Turkish firms as a result of intense talks with the Saudi authorities, he said, a ...

Caglayan stresses importance of venture capital and entrepreneurship Economy Minister Zafer Caglayan yesterday met with leading fund managers and CEOs from 50 private firms at a meeting in which venture capital models with public and private sector partnership were discussed. Speaking at the meeting, Caglayan said that the companies supported with venture capital have increased their export rates by 220 per ...

Turkey enjoys positive economical indicators achieved in 2011 showing its unavoidable rise to become the shining star of Europe (and the world) by 2023. In fact, the government officials have announced that the export target for 2012 is forecasted as US$ 149 billion with an increase of approximately 10 percent as compared to US$ 132 billion in 2011. When we look at the economies in Europe particularly, we c ...

Turkey's export industry set a record-breaking, 18.2 percent rise between December 2010 and December 2011 to reach $134.6 billion, Economy Minister Zafer Caglayan said yesterday. "First, these exports figures have broken a [republican] record. Second, Turkey has surpassed its $132 billion export record in 2008, taking it back to pre-crisis levels," Caglayan said at a Turkish Exporters' Assembly (TIM) meetin ...

Turkey hopes to tame its chronic current account deficit (CAD) problem by attracting sizable Saudi investments in key industries that contribute most to the widening CAD, Economy Minister Zafer Caglayan has said, while the government eyes a bigger slice in huge multi-billion dollar Saudi infrastructure and construction projects. "We are looking for Saudi experience and investment in refining, petrochemical ...

Turkish Economy Minister Zafer Caglayan has said that a draft law criminalizing rejection of Armenian allegations pertaining to the incidents of 1915 would seriously harm GENEVA- Caglayan, who is currently in Geneva, told AA correspondent on Friday that the bill was brought up in France ahead of presidential election set to be held in 2012. It was a tactic by French President Nicolas Sarkozy to impress Fren ...