WTC, AIAI signs MoU with Indo Turkish Businessmen Association

Mumbai, Apr 27 (UNI) There are tremendous opportunities for investment as well as joint ventures in areas of oil exploration, thermal power, petrochemicals, textiles, auto components and engineering in Turkey said Indo-Turkish Businessmen Association Director and leader M Ali Seker.

Addressing the All India Association of Industries (AIAI) and World Trade Centre (WTC) here today, Mr Seker said that 90 per cent of textiles exported in Europe are sourced from Turkey besides other material. India could explore such possibilities by having a base in Turkey. Besides there is demand for marble, granite, handicrafts, agro products in Turkey and India being strong in these sectors could make its presence felt in Turkey .

Meanwhile, the World Trade Centre and All India Association of Industries today signed a Memorandum of Understanding (MoU) for promoting bilateral trade exchange of information and delegation' an AIAI release here today said.

Mr Seker further said that during 2004-05, India's exports to Turkey totaled Rs 28,665 million while India's inputs from Turkey were to the tune of Rs 5,925 million.

President, All India Association of Industries and Vice President, World Trade Centre -Mumbai Vijay Kalantri, while welcoming the delegation said that while trade between India and Turkey stands at Rs 1.5 billion, where export from India consitutes 80 per cent of the tarde, import from Turkey stands at 20 per cent.

He further said that many of the Turkish companies have approached us for setting up plant in Special Economic Zone (SEZ) for re-export to the European market.

Mr Kalantri further stressed on the need to market India well in Turkey to enable us to reach European market.

UNI JM PP SKB1915