PHL-Turkey business council sees $1-B bilateral trade in 5 years

Trade between the Philippines and Turkey may reach $1 billion within the next five years, the head of the Philippine-Turkish Business Council said late Monday. “[T]hey are very aggressive and we expect the exchange of more goods. They view the Philippines as a promising investment destination,” said PTBC president Ernesto Chua Co Kiong during a Turkish trade mission event at the  Philippine Chamber of Commerce and Industry in Taguig. Bilateral trade has already doubled to $400 million in the last two years, the council said. According to Kiong, the council is urging Turkish firms to set up operations in Manila. “I tell them to put up showrooms and factories here so they can easily trade and sell. We have a growing market and that they can tap this market for mutual benefits,” he said. At the trade mission, the visiting Turkish delegation also expressed interest in bidding for the Bases Conversion and Development Authority's 33.1-hectare Bonifacio South Pointe property. According  to the council, at least 12 companies have already started putting up their facilities in the country, while another 10 are considering locating their business in the Philippines. — BM, GMA News