Chinese automotive company to reach new markets via Turkey

AA- Nihat Ergun, the Turkish Minister of Industry and Trade, said that the Chinese automotive company "Chery" is willing to reach global markets via Turkey. "The company has applied to the Turkish authorities to invest USD 500 million in Turkey, and to reach new markets via our country", said Ergun during a meeting in Frankfurt, Germany. Ergun is in Frankfurt to participate in the 63rd International Frankfurt Automotive Fair. Two executives of the Chinese automotive group Chery visited the northwestern Turkish province of Sakarya in January 2009 to acquire land on which to build an automotive factory. The Chinese company is to cooperate with Turkey's Mermerler automotive company in this project.