Turkish firms keen to invest in PHL — PCCI

Ten large Turkish companies from the construction, solar energy, mining, furniture and home fixtures sectors are interested in investing in the Philippines, according to the Philippine Chamber of Commerce and Industry on Monday. The companies were in the country recently as part of a trade mission organized by the Confederation of Industrialists and Businessmen of Turkey (Tuskon) and its representative in the country, the Turkish Chamber of Commerce of the Philippines. The PCCI has been highlighting the Philippines as an attractive investment destination through bilateral business councils and roadshows in regions including Latin America, the Middle East, Russia and Turkey. Potential areas of investment are in the sectors of food, organic chemicals, electronics, motor vehicle parts and accessories, construction, education, finance, and health services. Turkey is the Philippines’ 41st trading partner, with trade between the two countries growing at an annual average of 7.8 percent from 2007 to 2011. Last year, Turkey exported $100 million worth of goods to the Philippines, while the Philippines sent about $116 million in exports to Turkey. — BM, GMA News