MoU for trade, investment between TS and Turkey

PNS | Hyderabad

Federation of Telangana Chambers of Commerce and Industry (FTCCI) entered into an MoU with the Foreign Economic Relations Board of Turkey on Wednesday in Hyderabad in order to facilitate trade and investment between Telangana  And Türkey.

FTCCI organised Business Matchmaking meetings with Turkey business delegates with the support of WTC, Hyderabad. The MOU is for co-ordinate efforts to collect, combine, analyse, evaluate and diffuse information in relation to trade, industrial and technological cooperation and investments between India and Turkey.

The MoU was signed in the presence of Orhan Yalman Okan, Hyderabad Turkish Consulate General, Turkey ; Suresh Kumar Singhal, Vice-President, FTCCI; Hülya Gedik, Chairperson, Turkey-India Business Council, Turkey, among others.

Welcoming the guests, Suresh Kumar Singhal said, “The Indian markets, especially Telangana, have been growing consistently and there are great opportunities to expand trade and investment. The city of Hyderabad has changed a lot in the last two decades.

The infrastructure the city provides is of global standards. Not just in IT, Hyderabad is also one of India’s main hubs for the pharmaceuticals sector, with the city accounting for 30% of the country’s pharmaceutical production. One of the largest business Incubator T-HUB2 is also in Hyderabad. We can cooperate with each other in the field of agritech, education, IT technologies, life sciences, pharma, real estate and infrastructure, energy, clean tech, aerospace and other similar sectors, by adopting new/latest technology.”

Speaking on the occasion, Hülya Gedik said, “We have decided to arrange for meetings of the officers engaged in carrying out activities once a year on an alternating basis in Türkey and in India to examine the achievements and opportunities in the fields of trade, investments, industrial and technological cooperation and on various forms of trade, finance, bilateral and international collaboration.

We both will identify the obstacles in trade and economic cooperation, and submit proposals to overcome them to the two respective governments. We decided to collect statistical data and information on opportunities in the field of trade, investment and other forms of economic cooperation, and convey such information to relevant companies in India and Turkey.”

Signing the MoU, Chakravarthi AVPS, Chair, International Trade Committee, FTCCI said, “This one-on-one meeting will help connecting right partner for your business for any collaborations/joint ventures for furthering the trade between the two countries and evaluate the scope of establishing business co-operation, joint-ventures, technology import and/or making investment in Turkey and Hyderabad.”