Singapore and Turkey have agreed to encourage and support businesses from both countries to venture into each other's markets and form partnerships during an official visit by Minister-in-charge of Trade Relations S. Iswaran to Istanbul and capital, Ankara.
In a statement, the Ministry of Trade and Industry said Singapore companies already operating in Turkey are benefiting from the country's large and dynamic market of 81 million people and a gross domestic product of nearly US$784 billion . Highlighting the potential role of Singapore and Turkey as gateways to wider regional markets in Asia and Europe, respectively, Mr Iswaran said:"These will build even stronger bilateral ties between Turkey and Singapore, which can pave the way for economic growth, and open up even more opportunities for both countries as our economies evolve and adapt to new realities."
"It is important to have a holistic approach, with a business-friendly environment and conducive regime, to build an ecosystem that attracts talent and innovation," he said.