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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: RealMuLan who wrote (14764)11/3/2004 3:18:49 PM
From: RealMuLan  Read Replies (1) of 116555
 
China to Enter EU Market with 'Made in Turkey' Label

Several Chinese companies are starting to invest in Turkey while debates continue over the advantages of Chinese goods. The apparent aim is to sell goods to the European Union (EU) market, which trade legislation has kept closed to China.

Well-known Chinese companies such as Konka, Hicon, Yiying and Gaoming have planned to establish a joint factory along with their Turkish partner, whom they sell goods to in Turkey. The Chinese companies are expected to make investments of $15 million by the end of 2004.

Turkish businessmen, Akin Algul, who produces water tanks together with a Chinese company, summarizes the present situation: "The European countries prefer the 'made in Turkey' logo to 'made in China'; from now, Chinese investors are aware of it and want to sell goods as 'made in Turkey'. "

The President of the Turkish-Greek Business Council, Yavuz Onay declares that he specifies Turkey as an investment country and is determined to apply a financial incentive to companies willing to invest.

Onay, emphasizing that companies look again at Turkey after this development, remarked that Chinese investors had decided to make a $100 million industrial investment in Turkey in 2005.

11.03.2004
Economy News Services
Istanbul
zaman.com
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