Turkey in Export-driven Growth

Sabah – Turkey’s GDP growth rate for 2014 will be no less than 4 percent thanks to rising exports, according to the country’s Minister of Economy, Nihat Zeybekci.

Speaking at Turkey’s Investment Summit 2014, organized by the Sovereign Wealth Fund Institute (SWF Institute) in partnership with the Investment Support and Promotion Agency of Turkey (ISPAT), Zeybekci pointed to the indicators of strong growth. “Capacity utilization has increased by 5 percent in the first quarter while exports went up by 10 percent. Exports will account for 2.5 percent of annual growth, clearly showing that Turkey is on an export-driven economic expansion trend,” he remarked, saying 2014’s growth rate will reach at least 4 percent.

Also addressing the attendees of the summit, ISPAT and WAIPA President Ilker Ayci said that the WAIPA’s decision to relocate its headquarters from Geneva to Istanbul was a momentous event in the organization’s 20-year history.

“We see the epicenter of global investments shifting from East to West with Turkey and its surroundings standing to benefit the most. From now on Istanbul is the top location whenever global investments are discussed”, Ayci noted.

Istanbul was voted as the new WAIPA headquarters at the organization’s XIX. World Investment Conference held last week.

Link:  http://www.invest.gov.tr/en