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Latin American steel sector in Turkish radar for investments

It is reported that steel, automotive and construction are likely to be attractive investment sectors in Latin America for Turkish businesses as Turkey seeks extensive investment opportunities in the region.

An official from Turkey's Foreign Economic Relations Board stated in the report in question that Turkey's already established foreign economic councils with Brazil and Mexico have achieved remarkable progress in a short period of time. The official, who declined to be named, indicated automotive, steel, tourism, petrochemicals and construction as the sectors in Latin America likely to prove attractive for Turkish investment adding that Turkey's current exports to Latin America accounted for only one percent of the country's total exports in 2009.

The report said that Mr Recep Tayyip Erdogan PM of Turkey had visited Mexico on December 9th to 10th 2009 in line with the Turkish government's attempt to forge closer relations with Latin America. In an important development during the visit, Mexico had pledged to provide Turkish businessmen with long term multiple entry visas and to make the visa application process shorter and easier.

Following a meeting with Mr Erdoğan, Mr Felipe Calderon president of Mexico had also invited Turkish constructors to his country, revealing a plan to invest USD 50 billion in infrastructure in Mexico.

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