Ford Otosan Head: "Attracting more US companies to Turkey shouldn't be difficult"
Turkey could attract more US companies if it expanded its trade relations to other sectors and cut red tape for foreigners, Ford Otosan General Manager Nuri Otay said yesterday. Trade relations between the US and Turkey are more focused on hardware systems, medicine and the defense industry, he said, but these ties should be expanded in order to attract more big companies to Turkey. Large geographical distances between countries is a big disadvantage when American firms consider investment decisions, but other countries seeking more exports to the US make up for such distances through Eximbank subsidies, and Turkey should do the same, he urged. On the complicated process for starting a business in Turkey, Otay said, "It's very simple to establish a company in the US, for instance, while in Turkey you need to get permission from various officials. These obstacles aren't attractive to foreign investors."