4/27/2012

UK Trade Minister: Turkey the best location to invest for mid-sized British firms

Hürriyet - A trade mission to Turkey by a British delegation underscored the country’s unique status as a favorable investment location and an attractive market for mid-sized firms looking for expansion opportunities abroad.

Led by the UK Trade and Investment Minister Lord Stephen Green, around 30 companies are taking part in the two-day visit that aims to foster links between British and Turkish firms and boost trade and investment between the two countries. Rapid growth and investment opportunities make Turkey an excellent location to invest in for British companies, Lord Green said about the visit that mainly focuses on presenting Turkey’s investment and partnership opportunities offered to mid-sized British businesses that lack such traits at home.
“Turkey is a country full of opportunities for European companies, not only with its large domestic market but also in terms of its ties with surrounding markets in the Caucasus, Central Asia, North Africa and the Middle East,” he said.

“Our mission is formed of mid-sized companies as large-scale corporations can take care of themselves when investing abroad. Britain has a large number of mid-sized businesses with little prospect of growth at home. Such companies have to look for successful, high-growth markets abroad. Turkey is such a country,” Lord Green described their motives, adding, “Turkey’s business environment and professional life is very similar to the UK’s, and the flight time is below 4 hours, which together make Turkey an even better choice for British companies seeking partnership and investment deals.”

Speaking to the press about Turkey’s accession to the EU, Lord Green underlined the country’s significance and would-be contribution to the EU’s ailing economy. “Turkey’s eventual entry will be a turning point for the Union, revitalizing and refreshing its economy,” he predicted.

Turkey and Britain have a trade volume nearing USD 15 billion. Companies like BP, Tesco, Vodafone, and HSBC are among 2,300 British firms operating in Turkey.
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