Turkish textile entrepreneurs explore Russian market

08 Feb '12

2 min read

Turkish textile entrepreneurs are on a visit to Russia to explore trading and investment opportunities in the Russian Federation.

The tour has been organized by the Turkish Confederation of Businessmen and Industrialists (TUSKON) in collaboration with the Association for Business and Friendship between the Russian Federation and Turkey (RUTID).

The meeting between Turkish entrepreneurs, particularly from textile sector, and their Russian counterparts highlighted the emerging potential of the Russian market.

Özer Demircan, Secretary-General, Exporter and Industrialist Businessmen's Association (IHSANDER) of Turkey, said presently the association has more than 600 members, with 150 of them belonging to the textile sector. He revealed that 20 of these 150 members are on a visit to Russia to research the market there.

On their visit, the Turkish entrepreneurs were provided all business and market research assistance by RUTID. Esat Sari, President RUTID, said in future too they are ready to provide all types of assistance and guidance to overseas investors investing in Russia.

Further, quoting the 20 percent growth achieved by Russia's retail industry, he said Russia is amongst the fastest growing G8 nation, and would continue to prosper with the World Trade Organization (WTO) membership.

Noting the current period as the most favourable time for investment, he said overseas investors should consider long-term investments in the country.

Meanwhile, Demircan said after the recent visit, they plan to once again visit Russia with more members, to attend the trade shows on February 28.

Trade between Turkey and Russia is growing and the bilateral trade volume touched US$ 30 billion last year, which is expected to reach US$ 100 billion over the next five years.

Fibre2fashion News Desk - India

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