Turkish,Indian firms should join hands to serve global mkt:Turkey PM

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New Delhi, Nov 21 (UNI) Turkish Prime Minister Recep Tayyip Erdogan, who is on a five-day visit to India, today exhorted Indian and Turkish companies to join hands in various sectors to serve the global markets.

''The two rising stars in the world--India and Turkey--cannot remain idle spectators to the global financial crisis. Now is the time for companies from the two countries to invest, else the market access opportunities available now will be gone forever,'' Mr Erdogan said while addressing a business meeting, organised jointly by FICCI, ASSOCHAM and CII here.

The Turkish Prime Minister identified sectors like energy, iron and steel, engineering, architecture, contracting and construction for cooperation between the two countries.

He said the two countries have to assume a higher degree of responsibility in weathering the fallout of the financial crisis and would have to be sensitive in their reciprocal relations.

Now the time is to collaborate, he said, adding that in order to survive, there is an urgent need to strengthen regional and global cooperation.

He said Turkey is witnessing a ''significant'' growth rate over the last six years, with seven per cent growth registered during last fiscal, besides enjoying the advantage of strategical location.

''Our geographical position is such, that we are gateway to both the West the East...We bridge the gap between Europe and Asia,'' he said.

India Science and Technology Minister Kapil Sibal, in his address, called for deepening collaboration between Turkish companies in scientific and technological fields, in areas such as electronics, metals, textiles and the automotive sector.

Mr Sibal said Turkish companies should take advantage of India's high quality human resources and low cost economy to produce for India, China and the rest of the world.

He urged Turkey to invest in the India's infrastructure sector, which requires investment of about 500 billion dollars in five years.

Inviting Turkey to invest in airport sector, he said India plans to add 30 more airports.

Power, road construction, pharmaceutical and leather products are the few sectors where the two countries can collaborate, he said.

Mr G M Rao, Representative of CII and GMR Group Chairman pointed out that India was witnessing a sea change with investments in retail, textiles, consumer goods, infrastructure, and healthcare.

The large consumer base of India could be a growth engine for Turkish companies who decide to invest in this country, he said.

ASSOCHAM President and JSW Steel Ltd Vice Chairman and MD Sajjan Jindal noted that the Indian economy had been rapidly expanding over the past decade.

''It had now become a trillion dollar economy and continued to show strong macroeconomic fundamentals for growth in the future,'' he said.

Mr Harsh Pati Singhania, Senior Vice President, FICCI and Managing Director, JK Paper Ltd, said, Turkish and Indian companies should seriously explore the opportunities in each other's markets in areas such as energy, mining, biotech, pharmaceuticals, tourism, IT and railway transportation.

Turkish businessmen could enhance their presence in the Indian market in textiles, chemicals, plastics, electrical and electronic products, he said.

Mr Erdogan is accompanied by a high level delegation including three ministers as well as lawmakers and business leaders.

This is the first visit by any Prime Minister of Turkey since 1986.


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