Turkey, Finland to give new momentum to bilateral relations

ISTANBUL

Turkish Economy Minister Nihat Zeybekci has announced that the first meeting of the Joint Economic and Trade Committee (JETCO) mechanism, established in Ankara in February, would take place on Dec. 2, 2015, in Helsinki.

Zeybekci and Finland’s president Sauli Niinisto met in Turkey-Finland CEO Lunch Meeting on Wednesday in Istanbul to boost bilateral trade and investment.

"In 2014, Turkey's exports to Finland were 248 million euros ($330 million) with an increase of 10.5 percent compared to 2013 while our imports from Finland were 855 million euros ($1.1 billion) with a decrease of 8.9 percent compared to 2013," Zeybekci said.

Zeybekci said that during the first eight months of 2015, Turkey's trade volume with Finland had reached 799.4 million euros ($891 million).

Zeybecki said that a Turkish-Finnish business and investment forum will be held simultaneously with the first session of the JETCO meeting in Helsinki with a wide participation from private sector representatives from both countries.

Zeybekci pointed out that the 110 Finnish companies were operating in Turkey.

"The foreign direct investment (FDI) inflow of Finland in Turkey is $402 million, whereas the FDI stock of Turkey in Finland is $24 million and the number of Turkish enterprises in Finland is around 400," he added.

"Under Turkey´s capable chairmanship I am convinced that the G20 Summit in Antalya next month will achieve concrete results," added Sauli Niinisto.

G20 leaders are to gather in Turkey’s southern province of Antalya for the tenth annual meeting of the heads of states on Nov. 15 and 16.