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Turkish Economy Minister Mehmet Zafer Çağlayan opened a Turkish trade exhibition in India on Tuesday and had discussions with Indian counterparts.Çağlayan inaugurated the Turkish Products Exhibition, hosted by the İstanbul Chamber of Commerce (İTO) and met with Prithviraj Chavan, the chief minister of Maharashtra, India’s richest state, and Indian business leaders to boost trade ties with the country.
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As part of Turkey’s strategy to create a film production hub in Antalya, Çağlayan met with key Bollywood directors and producers to seek opportunities for joint production ventures.
Trade between the two countries has grown at a brisk pace in the last year. Over the period, Turkey’s exports to the country have grown 47 percent to $606 million, while Indian imports increased 79 percent to $3.4 billion, with total trade volume between the two countries expected to grow from $4 billion in 2010 to $6 billion this year. This growth is encouraging, yet represents a small fraction of Turkey’s $114 billion annual exports, an issue Çağlayan chided Turkey’s business community on during his last visit to India in April, speaking of Turkish exporters’ “big country phobia.” “We [Turkey’s exporters] act timidly … when it comes to [establishing business ties with] the world’s largest importers,” he said.
Çağlayan’s April visit -- coinciding with two Turkey-India business forums in the country attended by 150 Turkish businessmen -- oversaw $1 billion in contracts for Turkish companies, with ceramic tile producer Söğütsen Seramik A.Ş. and construction contractors Fernas Group, STFA and Alsim Alarko closing deals with Indian companies.
Most notable was a $420 million construction agreement between Turkey’s Fernas Group and Indian petrochemicals company ONGC Petro Additions, Ltd. to construct a facility at the Dahej Petrochemical Complex in Dahej, Gujarat. |
Source : todayszaman.com
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