Tuesday, September 29, 2009
ISTANBUL – Hürriyet Daily News
There is a need to develop bilateral trade relations between Turkey and Brazil, and to balance the trade volume between the two countries, Zafer Çağlayan, state minister for trade and economy, said Monday.
Speaking at the Turkey-Brazil Business and Investment Forum organized by the Confederation of Businessmen and Industrialists of Turkey, or Tuskon, Çağlayan noted the trade volume between Turkey and Brazil had not yet reached the desired level.
“Turkey’s exports to brazil currently stand at $318 million, whereas Brazil’s imports to Turkey total $1.4 billion. The total trade volume of $1.7 billion makes up only 0.5 percent of Turkey’s and 0.4 percent of Brazil’s whole foreign trade,” Çağlayan said.
There is notable potential for partnerships between Brazilian and Turkish companies in the construction sector, Çağlayan said.
“Numerous countries in the world are currently putting out infrastructure projects worth trillions of dollars to tender. Let us share our knowledge with you in this field. Cooperation in tourism could also be something to work on,” Çağlayan said.
Brazilian firms have so far made investments totaling $520 million in Turkey and the sum from Turkish firms investing in Brazil is $43 million. “Brazilian investments in Turkey are of utmost importance to us,” Çağlayan said.
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