Ergun: "Chinese firms are preparing for massive investments in Turkey"

Four Chinese companies are poised to make investments in Turkey exceeding $400 million, Industry and Trade Minister Nihat Ergun said yesterday, adding that more such investments are on the way. "Four new companies, including leading construction machinery maker Sany, are about to make the final decision to make investments in Turkey ," Ergun said in an address to the Turkish Exporters Assembly (TIM). "Based on impressions from the meetings we've had and the information at hand, more Chinese companies will follow these four." He added that Chinese producers of replacement machinery parts are very interested in Turkey , and that Turkish firms have been invited to a large machinery fair in China . Turkish companies, half of which don't even have a website, according to the Turkish Statistics Institute (TurkStat), should focus on information technologies as costs fall in the developing sector, Ergun said. The Industry and Trade Ministry plans to hold roundtable meetings with representatives from all sectors in Turkey to improve communication, he added. Turkey is one of the few countries that successfully coped with the global economic crisis, setting a model for others, he said. The Turkish economy, posting 11 percent growth in the first half of this year, lured in foreign direct investments and has become one of the world's most trusted economies, Ergun said. Turkey 's industrial production and capacity usage rate have almost gotten back to pre-crisis levels, he noted. Saying that Turkish exporters can reach over 50 countries through short flights of only a few hours, Ergun said exporters play a key role in boosting Turkey 's economic power. " Turkey 's export target for 2011 in its middle-term planning is $127 billion," Ergun said. "But I personally believe Turkey will reach the 2008 figures if the global economy doesn't see a double dip recession."