1/11/2008

Turkey eyes incentives for auto exports, key sectors

Reuters - Turkey is working on an incentive scheme for the auto, white goods, electronic and textile sectors in a plan which includes boosting auto exports to $40 billion in five years' time, the industry minister said on Thursday. In the first 11 months of 2007, exports of vehicles and their parts amounted to $14.4 billion, Turkish Statistics Institute data showed. "We are planning an incentive programme that will be sector- and project-based. We are developing a new strategy for the auto, white goods, electronic systems and textile sectors," Industry Minister Zafer Caglayan told a news conference at the Istanbul Chamber of Commerce. Caglayan also said a large foreign auto company was working on a 1 billion euro ($1.47 billion) investment in Turkey but gave no details.
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