EU-Turkey trade surpasses 100 bn euro

BRUSSELS (KUNA) - Trade between the European Union and Turkey has more than tripled since 1995 and trade now exceeds 100 billion euro yearly, EU Enlargement Commissioner Stefan Fule told the the European Business Summit in Brussels Wednesday evening.
Foreign direct investments of the EU into Turkey reached around 6.7 billion euro in 2010, he noted speaking on the topic "Turkey : Building bridges for prosperity." "We have long-standing and well-established trade relations between big European and Turkish companies in all sectors of the economy. At the same time, Turkish companies are becoming all the more active in the EU and mergers and acquisitions increase," said Fule.
"This all demonstrates that Turkey has become a key contributor to Europe's competitiveness in the global economy. And even much more than that: Turkey is a partner of key strategic importance to the EU, in te rms of security, stability, prosperity and energy supply, " he added.
The ninth European Business Summit kicked off Wednesday with the focus on Europe's place in the global economy.
The two-day event is Europe's key meeting place for business leaders and decision-makers in the EU.