SINGAPORE
Turkish Economy Minister Zafer Caglayan has said that Turkey attaches a special importance to Asia-Pacific region and they increased the number of commercial counsellors in the region from 33 to 66.
Speaking at the "Turkey-Singapore Business & Investment Forum 2012" on Monday, Caglayan said that he was happy to feel the Singaporean hospitality.
Caglayan mentioned that they would like to see productive results for development of the business volume between two countries, increase in the mutual investments and cooperation in third countries.
Caglayan highlighted that Singapore was the most important country for Turkey because it was standing as an open door of Asia-Pacific region to Far East.
Caglayan said Turkey would be the most important country for Singapore as it would be the open door to Africa, Caucasus, Middle East and Europe.
Second Minister for Home Affairs and Second Minister for Trade and Industry in the Parliament of Singapore, S. Iswaran, said that Caglayan's visit was the benchmark of two countries' future bilateral relations and developments.
Iswaran touched on the bilateral relations of Turkey and Singapore and said that in the past three years, relations gained speed and said, "We are interested in the growing potential of Turkey."
Iswaran also added that there were 500 Turkish people living in Singapore and more than 50 Turkish firms are operating in the country.
"As for the geographical location of Singapore, Turkish investors and business people can come here and enlarge their businesses," said Iswaran.
Ground Deputy Chairman of Turkish Exporters' Assembly (TIM), Mustafa Cikrikcioglu, said that Turkey's institutionalized economy attracted 110 billion USD direct investment in the past 9 years.
Chairman of Singapore Maritime Foundation, Teo Siong Seng, said that both countries had strategic locations in their regions and said, "We see Turkey as an open door to East Mediterranean and Black Sea."
Caglayan calls on Singaporean companies to invest in Turkey
Caglayan invited Singaporean companies to invest in Turkey.
Turkey will invest nearly 240 billion USD only in energy and transportation sectors in the next ten years, added Caglayan who met CEOs of companies in Singapore on Monday.
Noting that the relations between Turkey and Singapore were improving each day, Caglayan said that after 15 years, Singapore would inaugurate one of its two embassies in Turkey, adding that it showed the importance Singapore attached to Turkey.
Another important development is that Singaporean International Enterprise company had opened an office in Istanbul in May, said Caglayan, adding that also the number of Turkey's commercial counsellors in Singapore would increase to two.
Briefing Singaporean businessmen about the new incentive package in Turkey, Caglayan said that Singaporean companies could invest in Turkey or Turkish and Singaporean companies could invest together in third countries.
Noting that direct investment which was made in Turkey in 2003-2011 period reached 115 billion USD, Caglayan said that direct investment made in Turkey only last year was 15.9 billion USD.
Within the scope of his talks, Caglayan also met Singaporean Deputy Prime Minister Tharman Shanmugaratnam.
