Turkiye - Turkey’s Industry and Trade Minister Nihat Ergun stated that Turkey is gaining strength in the political arena with each passing day and that this is due to the country’s economic power. Ergun pointed to the fact that Turkey’s potential is recognized by foreign investors and the country is slated to become an investment hotspot in the near future.
Noting that Turkey has an active role in the solution of global problems, Ergun stated that Turkey will take advantage of this power and strength to improve international cooperation. Minister Ergun, attending the Turkey-India-Commonwealth of Independent States (CIS) Cooperation Forum Meeting, said Turkey’s total trade volume with the CIS rose from USD 5.7 billion in 2002 to USD 56 billion in 2008, but with the impact of the global financial crisis this number dropped to USD 34 billion the following year. Last year, Turkey’s trade volume with India was USD 1.8 billion, down from USD 3 billion in 2008, as a result of the global economic crisis. Nihat Ergun said, “Yet these figures are not sufficient. We are planning to increase our foreign trade with the CIS to USD 100 billion, and with India to USD 10 billion in a couple of years.” Ergun also suggested joint investments from companies of the participating countries in the fields of energy, machinery, tourism, motor vehicles and construction.