British firms desire more Turkish trade
ISTANBUL- Hürriyet Daily NewsBritain wants to increase its mutual trade with Turkey to 12 billion pounds as of 2015, according to Business Minister Michael Fallon, speaking yesterday at a media presentation by a group of U.K. companies that are mostly already active in Turkey.
There are already a number of large British companies active in Turkey such as Tesco, HSBC and Burberry, Fallon said, adding, “We would like to deepen our trade ties.”
Mutual trade between the two countries was 9 billion pounds as of last year. The companies that accompanied the business minister on the trip included Arup, Mott McDonald, AECOM, Lloyds of London and Cella Energy. The group, which is continuing talks in Turkey today, is discussing possible new deals and business ventures with their Turkish counterparts.
The mission is headed by British Deputy Prime Minister Nick Clegg, who is scheduled to announce today a clutch of deals with Turkish companies. HDM Steel Pipes plans to open a 7 million pounds manufacturing facility in Cardiff, while West Midlands company Concept Steels’ contract with Turkey’s Vastaş A.Ş. is provisionally valued at 5 million pounds for the export of alloys, exotic metals and components for oil, gas and petrochemical industries to third markets. In addition, Turkish hospital group Florence Nightingale has moved to establish a European headquarters in London, and project management and construction consulting services company Hill International is set to open a new Turkey and Central Asia (Caucasus) regional office.