4/16/2008

US companies plan expansion to Turkey

Turkish Daily News - Some 65 companies from the United States gathered in Istanbul with the aim of finding local business partners and expanding their operations to Turkey and the nearby region. The meetings started within the framework of the “Trade Winds Europe” conference organized by the U.S. Department of Commerce and the Turkish-American Business Association (TABA AmCham) in Istanbul. The three-day conference that ends today consists of panel discussions and hundreds of one-to-one meetings between U.S. companies and their potential local partners. Stephen E. Alley, counselor for commercial affairs at the U.S. Embassy in Athens, told the TDN some companies visiting Istanbul would continue their journey to Athens later this week to inspect potential investment opportunities in Greece. “However, Turkey still appears a more dynamic country to invest in. Whereas Greece has become part of the old Europe and operating there is somewhat complex and over-regulated, Turkey is known as a growing and dynamic emerging market – and as such, a more attractive investment target for U.S. companies.” Some 250 U.S. companies have offices in Turkey. The annual trade volume between Turkey and the U.S. stands at around $11.2 billion.

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