Monday, July 12, 2010

Yemen Offers Investment Opportunity To Turkish Companies To Reach African Markets

GAZIANTEP, July 9 (Bernama) -- Yemen offers a "commercial gate" opportunity to the Turkish businessmen to reach African markets, Yemeni news agency (Saba) quoted founder Chairman of Turkish-Yemeni Business Council Sadik Yildiz as saying on Friday.

"Yemen is a neighbour of Africa, with a port 10 miles to Djibouti. Turkish companies may export from Yemen to Africa and use Yemen as a base," he said.

Adding that organised industry zones were established in Yemen, he said that these industries will support Turkish private sector interested to seek business opportunities.

Currently, only nine Turkish companies are actually operating in Yemen.

"Yemen is full of investment potential there and Turkish companies are welcomed to invest. European and U.S. companies are not eager to make investments there because of security reasons," he said.

Yildiz said foreign trade of Turkey and Yemen was around US$400 million indicating that Turkish exports were US$380 million.

By end of 2012, Yemen targets to achieve US$1 million trade.

Historical ties between Turkey and Yemen were strong and 300,000 people had been martyred there in the Ottoman period, Yildiz said.