India and Turkey to join hands towards trade augmentation says Melih Mehmet Recher

India and Turkey to join hands towards trade augmentation says Melih Mehmet Recher

“The Turkish economy has set an ambitious trade target worth US$ 500 billion for 2023. The Turkish Exporters Assembly is working towards achieving the trade target by tapping its competitive engineering and technological sector. It may be noted here that India holds expertise in the IT and ICT sector. Turkey looks forward to joining hands with the Indian economy in its pursuit towards trade growth”, said Mr. Melih Mehmet Recher, Turkish Electro Technology during an interactive meeting organized by MVIRDC World Trade Centre Mumbai and All India Association of Industries.

Elaborating on the prospects for collaboration in the technology sector between the nations Mr. Recher said Turkey brings forth cost competent advanced technology with standardized quality products. The nation holds expertise in the production of electrical goods, electronic goods, machinery and information and communication technology. The competitive technological sector is predicated to contribute to exports worth US$ 45 billion by 2023. Also, consumer durables goods comprising of white goods, consumer electronics and others contributes to exports worth US$ 6.7 billion.

Earlier, in her welcome remarks Ms. Rupa Naik, Executive Director, All India Association of Industries said bilateral trade between India and Turkey stands at US$ 6 billion in favour of India. It is vital to give impetus to the Indo-Turkish trade through interactive meetings, seminars and exchange of delegations. There exist potential for mutually beneficial trade with Turkey tapping Indian consumption markets while the Indian exporters utilize Turkey as a hub to promote trade in the Eastern and Western region of Europe.

Further, Ms. Naik extended an invite to the 4th Global Economic summit on “Asia…..The Gateway to the largest market – Vision 2025” scheduled from 11th-13th September, 2014.