Improve bi-lateral trade with Turkey - Shri Kamal Nath

19 Mar '08

2 min read

Shri Kamal Nath, Union Minister of Commerce and Industry, has invited the Turkish Companies to explore the Indian markets and make investments, especially in the infrastructure sector as it has the promise of sustained high levels of returns, and added that Indian companies are also committed to make investments in Turkey.

This he said during the bilateral meeting with Mr. Kursad Tuzmen, Turkish State Minister for Foreign Trade. Both sides agreed that India and Turkey could collaborate in R&D and their commercial spin-offs in the fields of bio-technology, nano-technology and information technology.

The meeting was attended by Shri Ajay Shanker, Secretary (Industrial Policy & Promotion); Shri G.K. Pillai, Commerce Secretary and senior officials from the Ministry of Commerce and Industry and representatives from the industry.

Indian investments in Turkey are in diverse sectors viz., railway construction, electricity transmission, pipelines, consultancy services for earthquake emergency, hydro-carbon, CNG conversion and IT services.

Turkish investments in India are in sectors of tourism & travel, home textile products, construction/maintenance of roads etc.

During the discussions, both sides agreed to strengthen the bilateral trade relationship particularly in the small & medium enterprises (SME) sector.

Shri Kamal Nath stated that Indo-Turkish trade is now on the upswing and the bilateral trade has grown from US $ 1193million in 2005-06 to US $ 1653 million during 2006-07.

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