- In 2018, trade volume between Turkey and Bahrain increased by 17% to exceed $500mln
I see great potential for Bahrain-Turkey trade relations,” said Embassy of Turkey commercial counsellor associate Professor Guzin Bayar.
“In 2018, trade volume between Turkey and Bahrain increased by 17 per cent to exceed $500 million.
“However, it is still much under its potential.
“Turkey and Bahrain share similar cultural values.
“In many of the products Bahrain imports, Turkey has competitive advantage in world markets.
“Turkish food products are liked in Bahrain; there are many Turkish restaurants.
“A lot of famous Turkish clothing brands gave franchises and opened shops in malls.
“Turkish furniture is much liked with its design and quality.
“Turkish firms TAV Airports Holding and GAMA Holding are completing their big projects.
“Turkish exports are much more varied than that.
“Especially since the beginning of the millennium, Turkey’s export structure became dominated more with higher value-added, medium-high technology products.
“As of today, motor vehicles have the highest share in Turkey’s exports; followed by machinery, iron and steel, and electrical appliances.
“In Turkey’s exports to Bahrain especially in the last years’ share of higher value-added products like electrical transformers, cables, air-conditioning machinery, motor vehicles, water treatment machinery and refrigerators increase.
“Aluminium products and petrochemicals are major import items of Turkey from Bahrain.
“Bahrain is one of the most successful countries in its region in diversifying its economy from oil; in the fields of aluminium, petrochemicals, cables, fertilizers, chemicals, plastics industries.
“We get happy observing Bahrain’s successes. We hope we can achieve more by co-operating.
“There are great opportunities also in forming partnerships and investing.
“In some of these sectors Bahrain is very good at, Turkey is a big importer.
“Why not produce these together in Bahrain or in Turkey?
“Bahrain has a liberal economy, does not have heavy bureaucracy and doing business in the country is easy.
“Bahrain has customs union with Gulf Co-operation Council.
“For these reasons many companies who want to distribute all over to GCC countries prefer basing their operations in Bahrain.
“Face-to-face meetings are very useful in improving trade relations.
“Turkish Exporters’ Assembly in co-operation with Bahrain Businessmen’s Association and Bahrain Businesswomen Society with the support of our Embassy of Turkey’s commercial counsellor’s office are organising interactive bilateral business meetings for Bahraini/Turkish companies.
“Turkish and Bahrain Bilateral Business Forum and B2B meetings will be held on November 3, 2019 from 9am to 5pm at The Diplomat Radisson Blu Hotel, Residence and Spa, Manama.
“This event will be an excellent opportunity for Turkish and Bahraini companies to connect.”
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