British ambassador: Turkey "huge market" for UK

By Bahattin Gonultas 

ANKARA 

British Ambassador to Turkey Richard Moore says Turkey has a huge potential as a long-term market for UK goods, and Turkish companies are now becoming world players.

Speaking to AA, Moore said a lot of UK businessmen are coming to Turkey for opportunities.

“The first opportunity is the development of nuclear energy, an area where a number of UK companies have a lot of expertise, so they are doing that. We have three very large projects: one being nuclear energy; another is health care, which the Turkish government is investing very heavily; and we are helping with the infrastructure, including the third airport. Once again, UK companies are very interested in opportunities for involvement by architecture, engineering and consultancy companies,” said Moore.

The ambassador emphasized that UK companies have played an important role in Turkey´s infrastructural development, from the first Bosporus Bridge onwards.

“They have always been involved. They are very interested and very keen,” he said.

Turkey and the UK have a bright future in terms of economic relations in coming years, since both countries have set goals to double their trade volume by 2015.

The ambassador stated that Turkish businessmen could apply for 5 years visas to UK with “absolutely no problem”.

“This is something very sensible. We want businessmen regularly travelling to the UK, to take advantage not just of five years visas, but for the 10 years visas. This is much easier for them and it is of course easier for us, because they do not have to reapply regularly. This really is no problem.”

Moore commented on recent political developments in Turkey, saying UK businessmen seek peace, stability and security. “I think this is true for Turkish businessmen as well as UK businessmen: they look at long term, and they see Turkey has a huge potential as a long-term market for UK goods, and Turkish companies are emerging world players. Some Turkish companies are becoming investors in the UK. I am very positive about the future,” the ambassador concluded. 

Chairman of the British Chamber of Commerce of Turkey Chris Gaunt said, “Turkey is a hub for the UK companies, for opening up and engaging Central Asia, North Africa, Middle East, regions where Turkey has very strong expertise and longstanding traditional business relations. These are areas which UK companies have difficulty understanding, whereas Turkish businessmen know exactly how to operate.”

Gaunt also said there is a lot of Turkish interest in UK businesses. “Particularly in added value, high-end technology sector, where UK companies could bring added value to Turkish companies by bringing new technology, research development and know-how. Joint venture and partnerships, we encourage UK companies to find good Turkish partners, and work with those Turkish partners to develop the mutual interests of both companies. We are bringing added value, high-end technology from UK.”

Gaunt seeks national coverage in Turkey for British companies. "What we want to ensure is the high growth of cities. UK companies understand what those cities are doing, what they have to offer and what the investment opportunities are. Currently, people see Istanbul as the destination. We want to convince people Turkey's not just Istanbul. It’s the other cities in Anatolia. Turkey’s economy is thriving; therefore we have to be engaged with those cities, chambers of commerce."

On Monday, the British Chamber of Commerce of Turkey and eight chambers of commerce from Anatolian cities, including Turkey's capital Ankara, signed a Memorandum of Understanding to develop trade relations between Turkey and UK. The initiatives would promote investment and technology transfer through joint ventures and other mutually beneficial arrangements, and provide support for UK and Turkish companies to find specific projects and partners. UK companies and firms from Anatolian cities will be able to participate in training to develop mutual business cooperation, and will be able to share local knowledge necessary for business in their counterparts’ regions.

Commenting on Istanbul as an emerging financial center, Gaunt said, “The city of London definitely supports having a financial center in Istanbul. That provides access to emerging markets in the region, which is supported by the UK. Once again, this is an opportunity to have the presence in the region, which is growing.”

Gaunt added, “This year started off in an uncertain way. 2014 will be a difficult year. Not just from a political perspective, but also from the economic perspective. There are lots of changes in this part of the world, such as Ukraine. There are a lot things going on at the moment. As far as Turkey is concerned, we believe that the medium and long-term prospects for Turkey are still very strong. If you have a project on the table in Turkey, keep it on the table, because the medium-term opportunities are still there. Turkey is well-placed to become the world's twelfth largest economy by 2015.”

According to the Turkish Statistical Institute, trade between the two nations stood at $15 billion in 2013. Turkey's exports to UK were at $8.7 billion, while imports from UK were $6.2 billion.

englishnews@aa.com.tr