Czechia invites Turkish construction firms to invest

Czechia invites Turkish construction firms to invest

ISTANBUL- Anadolu Agency
Czechia invites Turkish construction firms to invest

Czech Prime Minister Andrej Babis on Sept. 3 encouraged Turkish companies to increase their investment in Czechia, formerly called the Czech Republic, especially in the construction sector.     

Speaking to the Turkey-Czechia Business Forum in Istanbul organized by Turkey's Foreign Economic Relations Board (DEIK), Babis invited Turkish construction companies to help improve the Czechia motorways network.     

Also addressing the event, Turkish Industry and Technology Minister Mustafa Varank said: "Bilateral trade volume between Turkey and Czechia quintupled from 2003 to 2018 to reach $3.65 billion last year. Our bilateral trade volume was $633 million in 2003."     

He added they were aiming for a $5 billion target.     

In 2018 for the first time, Turkey's exports to the Czechia amounted to almost $1 billion with a 10% increase, he said.     

There are 81 Czech companies in Turkey who have made investments worth $623 million, Varank added.     

He also called on Turkey's businesspeople to invest in construction in Czechia.      

The president of the Czech Chamber of Commerce, Vladimir Dlouhy, said this forum would be an opportunity to open a new page for both economies for international cooperation.     

Dlouhy also criticized protectionism and underlined the importance of free open market.     

Noting that Turkey's export to Czechia rose 30% in the last five years to reach $1 billion from 2013 to 2018, Nail Olpak, the chairman DEIK, said: "Turkey's import from Czechia rose 1% to $2.7 billion."     

"The numbers are surely pleasing but not enough," Olpak added.