Indo-Turkish trade to touch $ 10 bn by 2010

New Delhi, Oct 3: With trade volume growing at 30 per cent, Turkey is focussing on improving bilateral relations with India and expects the trade to reach the 10 billion dollar mark by 2010.

''The trade volume currently stands at two billion dollars and with the growth rate prevailing now, we should be able to touch a figure of 10 billion dollars by 2010,'' said Turkish Ambassador to India Halil Akinci.

The Turkish exports stands at 250 million, while the imports were to the tune of 1.75 billion last year, he added.

The Ambassador also said that Turkey would invite Indian investments to Turkey to fill out the huge trade deficit between the two countries.

''Currently, India represents three per cent of the Turkish foreign trade deficit,'' Mr Akinci said.

Indian companies can expect land at concessional rates along with other tax holidays that is generally offered. ''We also have a lot of SEZs and soft loans,'' said Mr Akinci adding that some areas are given especially to the industries which are export-oriented.

''Turkey would focus on investing in the infrastructure and construction sector, while India can invest in the BPO sector and telecom and textile segments,'' said Indo-Turkey Business Association President Hadi M Alam.

A major challenge however would be overcoming the language barrier. ''Cultural and linguistic association will further boost the economic ties between the countries and in the month of Ramzaan, we are looking at strengthening ties between the two countries, who have shared their history in the past,'' added Mr Alam.

UNI