The President of the Investment Support and Promotion Agency of Turkey (ISPAT) İlker Aycı was Daily Sabah’s guest this week and we discussed the recent developments between Turkey and Japan regarding foreign direct investments.
Daily Sabah: Turkey managed to attract the attention of investors from the Far East with its young and dynamic population along with its geopolitical position. What do you think about investments coming from the Far East, especially from Japan?
İlker Aycı:
Turkey is an investment center that managed to attract the attention of not only European investors, but also the emerging Gulf countries, Far East and Southeast Asian countries with its strong economic structure and potential as well as its young and dynamic population and geostrategic location.
Some of the most remarkable countries here include Japan, Singapore, South Korea, Kuwait and Russia. However, we would like to mention Japan in particular. Japan is an exporter of high value-added and technology-intensive products and has a serious surplus in its current account. The country is a net foreign direct investment (FDI) exporter with an annual average of over $100 billion.
Unfortunately, Turkey’s share in Japanese FDI is below expectations. While we are making efforts to enlarge Turkey’s share of FDI coming from Japan, we are also doing our best to attract high-value-added investments that will enable the transfer of technology to Turkey. However, the institutions of the two countries remain working in order to double the level of bilateral trade volume, which is about $4 billion, and also to increase cooperation between Turkey and Japan.
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