Automotive, chemicals among privileged sectors in Turkey’s new incentive scheme

Dünya - Turkey’s news incentive scheme in planning will favor certain sectors like automotive, chemicals, aerospace and electronics so as to improve local production in critical industries, according to Turkey’s Minister of Economy, Zafer Caglayan. Caglayan, speaking at the Turkish-South Korean CEOs Meeting organized by Turkey's Foreign Economic Relations Board (DEIK), called for improved and more balanced trade between Turkey and South Korea.

The Minister told the South Korean audience, including the visiting South Korean President Lee Myung-bak, that the new incentive scheme to be unveiled this month will provide important advantages for companies in fields like automotive, chemicals, aerospace and electronics. “With numerous advantages for manufacturing investments, South Korean companies are invited to invest in Turkey to increase their competitive power in world markets,” said the Minister, urging the South Koreans to prefer Turkey as an investment location.

South Korean President Lee Myung-bak said that Turkey’s economic performance in face of the global financial crisis was admirable, and that the country would become one of the most prominent economic powers in the world with its consistent growth. “The free trade agreement between Turkey and South Korea will bolster economic ties,” the visiting president said of the FTA under negotiation between the two countries.
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