Italian companies’ investments in Turkey increase

Hurriyet Daily News - Even during the global financial turmoil, the Italian investors have not refrained from investing in Turkey, according to the Chairman of the Italian Chamber of Commerce in Izmir. "On the contrary, Italian companies’ investments in Turkey increased 196 percent in 2008 compared to a year earlier and reached USD 219 million", Rebii Akdurak said at a meeting held in Izmir yesterday to inform the Aegean companies doing business with the Italian firms of the services provided by SACE SpA. SACE, a Rome-based company founded in 1998, insures Italian companies in foreign markets. Reminding attendees that Italy is Turkey’s third largest trade partner, Akdurak said trade volume between Turkey and Italy increased 7.5 percent year-on-year to reach USD 18.8 billion last year.