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Turkish Minister ensures higher allocation for R&D
15
Feb '11
Turkey's Foreign Trade Minister, in his recent conversation with the textile industry representatives said that, though the previous Turkish governments paid no heed to or denigrated the research activities, but the present government ascribes great importance to the same.

State Minister Zafer Çaglayan said that, as the textiles accounts for 20 percent of the country's overall exports, the textile sector is of great importance to the country.

He said that, the government is all set to help the textile sector, as and when it seeks help, and assured that, the quantum of support would be three to four times higher than what is being provided now.

He further revealed that, about 1,700 firms in Europe are facing closure or acquisition, and the Turkish government has been formulating new provisions relating to tax and insurance, so as to aid the Turkish firms willing to acquire these foreign firms.

Previous governments have for long paid no heed to the research and development activities, and thus the country now needs to enhance its R&D and innovation initiatives by almost two-fold, the Minister said. The present government is looking forward to increase its allocation to R&D activities to around two percent of the country's Gross National Product.

Fibre2fashion News Desk - India

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