Singapore launches business mission to Turkey

The delegation will focus on key investment partnerships in automotive, environmental services as well as oil and gas sectors.

Led by representatives from International Enterprise (IE) Singapore and the Singapore Business Federation (SBF), 22 Singapore-based companies are heading to Istanbul and Izmir, Turkey, for a six-day business mission to explore business opportunities in this growing non-traditional market.

According to IE Singapore, Turkey shows immense potential for business. It has a population of over 73 million and its GDP rose by 8.5% to EUR 615.54 billion (S$993.54 billion) in 2011, making it one of the fastest-growing economies in the world.

Companies on the mission span urban solutions, energy, infocomm technology, financial services, automotive, commodities, trading as well as port management and logistics sectors.

The business trip will also involve the opening of the 36th Overseas Centre in Istanbul on 30 May, which is part of the SIngapore government's efforst to step up resources to better engage the market and help companies expand into the region.

Delegates will also co-host the Turkey-Singapore Business Forum on 30 May, organised by the Turkey-Singapore Business Council (TSBC), comprising SBF and the Foreign Economic Relations Board of Turkey (DEİK). The Forum, supported by IE Singapore and the Singapore Economic Development Board (EDB), is a platform for companies from Turkey and Singapore to exchange ideas and discuss business opportunities.

A highlight is the panel discussion focusing on potential collaboration areas in Turkey.

During the mission, companies will meet with representatives from key Turkish governments, enterprises and associations including the Republic of Turkey Prime Ministry, Investment Support and Promotion Agency of Turkey (ISPAT), DEİK, Confederation of Businessmen and Industrialists of Turkey (Tuscon), Turkish Exporters Assembly (TIM), Izmir Development Agency (IZKA) and Aegean Region Chamber of Industry.