Minister to head Turkish trade mission

Trade and Commerce Minister John McGuinness to lead a trade mission to Turkey in October.

Turkey, which has applied for EU membership, is one of the fastest-growing economies in the world and has gradually opened up its markets to foreign business.

Enterprise Ireland will be bringing a delegation made up of representatives from the construction, telecoms, healthcare, energy and aviation industries.

The state agency said Turkey’s application to join the EU will increase its appeal as an emerging investment market.

The International Monetary Fund has forecast a 6% inflation rate for Turkey in 2008.

The October 7-9 trade mission will also be aimed at the education, travel, energy and financial services sectors.

“Inflation and unemployment levels in Turkey have fallen to single-digit numbers and as a result, investor confidence and foreign investment have soared,” an Enterprise Ireland spokesman said.

“The country has gradually opened up its markets through economic reforms by increasing levels of privatisation and reducing government controls on foreign trade and investment.”

“Turkey’s involvement in European Union accession negotiations augurs well for its further integrating into the global economy and, moreover, its appeal as an emerging market for investment.”