Hürriyet – Turkey’s business and trade ties with the world’s third largest economy, which have been elevated to a strategic partnership level as a Japanese-led consortium has committed to build Turkey’s second nuclear power plant and following a marked increase of investments from the Far Eastern country in Turkey, are taking a new upward turn with the signing of a Memorandum of Understanding (MoU) with the Investment Support and Promotion Agency of Turkey (ISPAT) and Japan External Trade Organization (JETRO).
Signed in a ceremony attended by Turkey’s Minister of Economy, Nihat Zeybekci; Japan’s State Minister of Economy, Trade and Industry, Kazuyoshi Akaba; ISPAT President, Ilker Ayci; and Chairman and CEO of JETRO, Hiroyuki Ishige; in the Japanese capital Tokyo, the MoU aims at enhancing Turkish-Japanese trade, business and investment relations. ISPAT will give full-backing to Japanese companies looking to do business and investments in Turkey through its representative office in Tokyo.
“Japan is a major global economy and one of the top source countries of foreign direct investment (FDI). The existing cooperation between our countries will be strengthened with this deal through which ISPAT aims to attract more high-added value Japanese investments into Turkey”, ISPAT President Ilker Ayci said at the signing ceremony. Over 170 Japanese companies are active in Turkey in the fields of automotive, chemicals, finance, services, food, logistics and wholesale.
Instrumental in facilitating various Japanese businesses’ ventures into Turkey, among them the Bank of Tokyo-Mitsubishi UFJ’s (BTMU) entry into the Turkish banking sector and Sumitomo Rubber Industries’ manufacturing investment worth USD 500 million, ISPAT is actively promoting Turkey’s investment environment and opportunities around the world as well as in Japan.