Turkish market attracts British firms

ISTANBUL- In the same period, Britain held the top of the list of foreign direct investment inflow in Turkey with 1.951 billion USD.

Acting consul general of Britain in Istanbul Syed Shah replied the questions of AA regarding to British firms exploring the Turkish market and their investments.

Alongside Turkey's candidacy to EU and membership to G-20, Shah stated that Turkey plays an important economic role in its region and globally too and said, "Turkey's economic performance draws attention of British firms and increases their interest in Turkey."

He stressed that the dynamic Turkish market offers major opportunities for British firms and it has influences on the bilateral economic and commercial relations.

He added that the reflection of Britain's interest in Turkey comes from the both countries' strategic partnership as well as being close in some areas and working in effective cooperation. He noted that UK Trade & Investment listed Turkey as being one of their 20th primary markets.

Shah underlined that as Britain has the world's 6th largest economy and is in the first 10 of biggest producers of the world list, continued saying, "With the support of rising number of structural reforms, Turkey's powerful economy, bilateral relations encourage investments and cooperation in finance, services, energy, transportation, education and retail industries. Also Turkey's geopolitical importance draws attention of Britain. Turkey is a bridge to Europe, Middle East, Central Asia, North Africa so these markets also offer opportunities for the partnership of Turkey and Britain."

Shah highlighted that in 2011, 90 percent of Turkish people were granted with British visas easily. He said that they are working on special projects in order to ease the process of visa applications by Turkish firms, representatives of the government and academics.

CEO of Foreign Economic Relations Board (DEIK) Rona Yircali stated that Britain comes second behind world leader U.S. in investments field and reminding Britain's nearly 2 trillion USD of foreign investments stock, Yircali said, "60 percent of this stock is in Europe, 25 percent of it in north American countries and 10 percent of it is in the Pacific."

British firms' decisions are related to the capacity of Turkish domestic market, growing strategies, correct re-export capacity to Eurasia and Middle East region.

UK Trade & Investment works with UK-based businesses to ensure their success in international markets, and encourage the best overseas companies to look to the UK as their global partner of choice.