ECONOMY

Turkish minister urges Spanish companies to invest

TURKISH MINISTER URGES SPANISH COMPANIES TO INVEST

Turkey's EU minister said on Thursday Spanish companies should pursue more investment in Turkey as the country "has significant potential" for businesses with international experience.

Addressing a meeting of the Spanish Confederation of Business Organizations in Madrid, Ömer Çelik said Turkey would be delighted to work with Spanish investors.

Renewable energy, transport infrastructure technologies, health transformation and quality improvement, and information and communication technologies are at the forefront of large-scale investments in the future, Çelik said.

The bilateral trade volume between Turkey and Spain amounted to $10.6 billion in 2016, with an increase of 3.2 percent compared to 2015, according to the Turkish foreign ministry.

While there were approximately 650 Spanish companies operating in Turkey, around 75 Turkish firms were active in Spain by the end of 2016.

"Foreign direct investment from Spain between 2002 and 2016 amounted to $7.6 billion. Spain ranked eighth in terms of direct investments in Turkey in the said period," the ministry said.

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