3/18/2014

Turkey’s infrastructure & energy projects draw British interest

Yeni Safak – Investment opportunities in Turkey’s large scale infrastructure and energy projects are being watched by the British investors. Organized by UK Trade and Investment (UKTI) the British Business Summit held in Istanbul brought forth the major areas of cooperation between Turkey and UK with a heavy emphasis on infrastructure and energy sectors.


“Turkey is becoming an international trade hub and there exists many cooperation opportunities between UK and Turkey. The combination of Turkish firms’ regional reach and British firms’ experience and global access could lead to highly successful partnerships”, Fiona Woolf, the Lord Mayor of City of London, said at the opening ceremony.


Woolf said that Istanbul’s becoming of an international finance center would be beneficial for the UK as much as it is for Turkey. "Istanbul's development in becoming a global financial hub and its success will boost global trade volumes for the city of London and the UK as well”, she noted.


“UK could contribute to meeting Turkey’s growing energy needs. We are talking about a market that is expected to reach USD 100 billion in volume over the next 10 years. The Turkish market is influential over a wide geographic area spanning from Central Asia to Africa. British and Turkish companies are in close contact in these regions”, Woolf remarked.


Also speaking at the event, UK’s ambassador to Turkey, Richard Moore drew attention to Turkey’s large scale infrastructure projects and British contribution to some major projects in the country.


There are over 2200 British companies operating in Turkey. The trade volume between the two countries exceeded USD 15 billion dollars in 2013.

Turkey; turkey energy sector; turkey infrastructure projects; british investors turkey; uk investments turkey; turkey-uk trade; Fiona Woolf

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