Economy Minister Caglayan: "Turkey aims to surpass China in construction sector"

ANKARA

Turkey's Economy Minister Zafer Caglayan, speaking at the Turkish-Chinese Commerce and Investment Forum, organized by TUSKON and supported by Council for Chinese Progress in International Trade (CCPIT), Turkish-Chinese Business Association and Guangdong Turkish Business Association, stated that both China and Turkey are two great developing economies and so they have a significant financial capacity to cooperate.

Stating that the only problem preventing the commercial statistics between Chinese and Turkish economies to increase was the problem of not recognizing or being unaware of the capacities of each other, Caglayan said and added that Turkey ranks 54th in Chinese import rates while China ranks 14th in Turkish export rates. "This table should be revised".

“Turkey reinforced her economy to make possible challenging to the global economic crisis” said Caglayan underlining that it is crucial for Chinese businessmen to see the potential and advantage in Turkish economy and investing in Turkey.  

Caglayan touched upon the investment incentive systems Turkey regulated and stated “Turkey has a region where the labor cost is lower than China which is the 6th investment region of Turkey.” Caglayan said that within the scope of the incentives the investor spends only about $400 per month for a laborer while all other fees including the social security fees are paid by the state for 10 years.

"In the world the only rival of Turkey in contracting sector is China. The statistics of 2013 show that China comes first in international contracting with 54 contracting firms out of 250 firms while Turkey comes second with 38 firms. Our goal is to leave China behind but at the same time we should cooperate in sectors such as contracting, tourism and real estate,” said Caglayan.

"Turkey aims to surpass China in the construction sector".

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