Tuzmen visits Turkish facilities in Egyptian capital

Tuzmen said that the Turkish economy will develop itself by a model in which products are shared with the neighboring countries.

Tuzmen visits Turkish facilities in Egyptian capital

Turkish State Minister Kursad Tuzmen said Friday that the Turkish economy will develop itself by a model in which products are shared with the neighboring countries.

Kursad Tuzmen visited several Turkish factories operating in Cairo, Egypt, including Kucukcalik Textile, ETF Textile and Temsa bus factory.

"Certain products will be manufactured in neighboring countries and others in Turkey. We will bring together the products manufactured in neighboring countries and in Turkey and export these products to third parties," Tuzmen said.

"Within this framework, the number of investments by Turkish entrepreneurs in neighboring countries increased. This had a positive impact on Turkey's exports. After a free trade agreement was signed, Turkish exports to Egypt went up. Turkish exports to Egypt increased by 50 percent in 2008 when compared to the previous year. The policy we pursue is based on the win-win model. Both the neighbors and Turkey win in this model. All machinery used in Turkish factories in Egypt come from Turkey itself," Tuzmen said.

Turkish businessmen investing in Egypt sell goods to the United States and 12 Arabic countries without having to pay customs fees.

The Kucukcalik Textile factory cost 44 million to erect and employs 800 people. In 2008, the factory sold goods worth 48 million USD. The factory sells goods to many companies, including IKEA.

The ETF Textile factory employs 450 people. Among its clients are Reebok, Adidas and Nike.

The Temsa bus factory, a subsidiary of Turkey's Sabanci group, began manufacturing in April, 2008. The factory cost 22 million euros to erect. The factory manufactures 125 buses annually with an actual capacity of 500 buses and 500 minibuses. Temsa bus factory employs 311 people, including 10 Turks. Most of Temsa's bus exports take place to north African and Middle Eastern countries.


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Last Mod: 23 Ocak 2009, 18:57
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