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Written by TACCI Admin   
Tuesday, 22 April 2014 16:04


Last Updated ( Tuesday, 22 April 2014 17:43 )
Turkey and Malaysia signed FTA to generate trade volume between the two countries worth around $5 bn PDF Print E-mail
Written by TACCI Admin   
Tuesday, 22 April 2014 15:41


Turkey's prime minister and his Malaysian counterpart annouce signing of the trade agreement.

Turkey's Prime Minister Recep Tayyip Erdogan said Thursday at a joint press conference with his Malaysian counterpart Najib Razak that a free trade agreement with Malaysia had been signed. 

Erdogan said that the two leaders had reached the idea of a "Strategic Partnership" between the two states on his visit to Malaysia in January. This partnership aims to generate trade volume between the two countries worth around $5 billion over the next five years and the free trade agreement will help them meet this target.

"We will put all our efforts to pass the free trade agreement between Turkey and Malaysia at the parliament before it recesses," Erdogan continued while Najib said, "this is a high and challenging target and both countries need to work hard to achieve this goal and this goal will usher in a new age."

Najib added that joint economic commission meetings following the signing of a free trade agreement would be held within the shortest possible time. 

Noting that the two countries would deepen their academic, economic and commercial cooperation, Erdogan said that Turkey is ready for admission of more Malaysian students to Turkish universities. 

Also discussed in the meeting were international and regional issues as well as cooperation between the two states in international organizations such as the U.N., Organization of the Islamic Cooperation and the D-8. Najib vowed that Malaysia would support Turkey's bid to become a non-permanent member of the United Nations Security Council for the term 2015 and 2016. 

Erdogan had earlier welcomed Najib in a military welcoming ceremony held at the Prime Ministry in Turkey's capital, Ankara. 

Najib was also received by Turkish President Abdullah Gul and attended a conference at the Ankara-based think-tank SETA Foundation with Turkish Foreign Minister Ahmet Davutoglu. 


Last Updated ( Tuesday, 22 April 2014 15:42 )
German Mubea opens EUR 20 million production plant in Turkey PDF Print E-mail
Written by TACCI Admin   
Thursday, 17 April 2014 16:21
German Mubea inaugurates production plant in Turkey

Germany’s major automotive supplier Muhr und Bender KG (Mubea) has opened its EUR 20 million manufacturing plant in the Manisa Organized Industrial Zone in Aegean Turkey.

Commissioned in September 2013, the new facility is Mubea’s first greenfield investment in Turkey and will focus on the production of suspension coil springs and stabilizer bars -- components that were previously imported to Turkey.

The plant in Manisa spans over a total area of 31,000 square meters with an annual capacity of 3.5 million spring coils, while plans for doubling the annual output are already underway. Aiming to reach EUR 4 million in exports, Mubea’s current customer portfolio in the Turkish domestic market includes Renault, Ford and Toyota.

Present at the plant’s opening ceremony, Dr. Jörg Neubrand, Board Member of Mubea, said the company is number one in the sector, and that they are looking forward to boosting their global presence with their Turkish clients.

Assisted by the Investment Support and Promotion Agency of Turkey (ISPAT) during its investment stages, Mubea’s Manisa plant highlights Turkey’s competitiveness with its high potential to reach customers in the surrounding regions.


The interest of foreign investors in Turkish shipyards PDF Print E-mail
Written by TACCI Admin   
Tuesday, 01 April 2014 16:06
Foreign investors eye shipyards in Turkey

Sabah - Foreign investors, with an ever-growing interest in Turkey, have now set eyes on shipyards. Shipyard lands are leased from the state for a period of 49 years, and in the event of an extension of the time limit, millions of dollars worth investment will flow to Turkey, according to industry players.
Suheyl Demirtas, Secretary General of the Turkish Shipbuilders’ Association (GISBIR), says, “During 2002-2008, the sector expanded threefold on a global basis, while it grew tenfold in Turkey. The stability in the recent years is a source of attraction for foreign investors. Investors from every part of the world are seeking opportunities in Turkey”. Demirtas says shipyards are leased by the National Real Estate for 49 years, and only 20 years have left until expiry. According to Demirtas, the injection of foreign capital into Turkey will also provide shipbuilders with opportunities for offshore constructions, while daily rentals of a platform have reached USD 1 million. He added, “There are globally renowned companies with offshore operations. The path to cooperating with these involves attracting foreign investors to Turkey. Paving the way for this will also remove barriers to offshore operations. Turkey leases platforms from various countries for its oil and gas explorations.



Turkey is attracting French BNP Paribas' investments PDF Print E-mail
Written by TACCI Admin   
Friday, 28 March 2014 18:50
French BNP Paribas shifts investments to Turkey


Star - Turkey continues to be the preferred choice of destination for foreign investors. Being closely monitored by many international companies, Turkey is seen as the most favorable country for investments in many fields, particularly in the finance sector. French banking giant BNP Paribas is the latest addition to the list of foreign companies that have decided to shift their investments to Turkey, due to the ongoing political crisis in Ukraine.

According to Lars Machenil, CFO of BNP Paribas – also the French partner of Turkish Economy Bank (TEB) with operations in Turkey – Turkey is a promising market and is currently one of the two countries in which they are willing to grow in the future. Machenil said the bank will close 84 branches and reduce staff by 1,600 in Ukraine until the end of 2015, owing to the tough economic environment in Eastern Europe. He added, "Turkey is a thriving market; together with Poland, it posts a dynamic and ever-growing performance. With our focus on the Turkish market since 2002, we are satisfied with Turkey and are considering increasing our investments there. "


Last Updated ( Friday, 28 March 2014 18:51 )

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