Mr Burak Akcapar, Ambassador of the Republic of Turkey in India, speaking at the Indo-Turkish Business Association Meet in Hyderabad last week. — P.V. Sivakumar / The HinduTurkey seeks to double flights from India, besides opening four more connecting points. The other destinations it is looking at are Hyderabad, Chennai, Kolkata and Bangalore. At present, Turkish Airlines operates daily flights from Mumbai and New Delhi to Istanbul.
“We have sought permissions from the Indian Government to double this number and expand to other destinations,” Dr Burak Akcapar, Turkish Ambassador to India, said.
FREE TRADE AGREEMENT
Referred to as the ‘sick man of Europe’, Turkey has now emerged as the 16th largest economy in the world. After signing Free Trade Agreements (FTAs) with 21 countries, Turkey now wants to sign one with India.
“Last year, the bilateral trade volume was just about $7 billion. This is nowhere near the full potential. We expect it to grow to $20 billion in the next few years,” Dr Akcapar said.
India’s share was put at $5.9 billion in the bilateral trade, while the remaining came from Turkey. “The basket is very small, vis-à-vis its potential. We can expand the scope to textile equipment, chemicals, electronics, electrical appliances and kitchenware. There is scope for increase in trade from both sides,” he said.
The Ambassador was here to attend a road show by TUSCON (Confederation of Businessmen and Industrialists of Turkey) to promote the upcoming Turkey World Trade Bridge in June.
“India and Turkey have completed a joint study on the FTA. We are yet to sign it. This will pave way for signing the FTA. We are awaiting the Indian side’s time for signing the study. Businessmen from both sides are eagerly waiting to tap the potential,” he said.
CONSULATES
Turkey would open a Consulate in Hyderabad soon. “We have received permission to open consulates in Chennai and Hyderabad. But before establishing consulates, we will appoint honorary consuls,” the Ambassador said.
source: http://www.TheHinduBusinessLine.com / Industry & Economy> Logistics / by K. V. Kurmanath / March 18th, 2012