Union of Chambers and Commodity Exchanges of Turkey

Hısarcıklıoğlu, who noted that Greece is seeking investors for facilities that got into a difficult situation and faced a drop in production following the financial crisis, emphasised the presence of important opportunities within various sectors in the neighbouring country.

Hisarcıklıoğlu responded to NTV News Bulletin host Banu El’s question of “Are the investment opportunities in Greece just your observation or is there a noteworthy demand from the Greek business environment in this respect?” as follows:

“As you know Turkey lived through a huge economic crisis in 2001. This was a crisis such that it was independent of outside factors. We are businessmen who came into being as those who came through this period. Actually, the most important note to point that paved the way for this is the visit of our Prime Minister to Greece in May 16. This was the first time, under this framework, in history that 22 trade agreements were signed at the same time in the presence of the Prime Minister. This was actually an opportunity that paved the way for Turkish investors and those who wish to conduct business in both Turkey and Greece. In this context, we organised a Regional Business Forum in Edirne on June 18.

Regionally, with the Edirne-Thrace region we wished to come together in our next-door neighbouring regions that cover Xanthi, Komotini and Alexandroupolis and present business opportunities. The meeting that we took part in yesterday was the second, the one that took place in Komotini in which about 600 businessmen participated. I was astonished. The taking part of about 250 Greek businessmen and about 350 Turkish businessmen in Komotini goes to show that both sides presented tremendous opportunities. This is a tangible reality. We lived through this in 2001, our factories were closed down. In those times their values were very low. Today Greece, our neighbour is going through this. Today their facilities, their production has stopped. For this reason they are seeking investors for their facilities that are in a difficult situation; I personally saw this, I became witnessed to it and they requested investors from me. In this framework, we put a display of our experience. They mentioned that they wished to benefit from our experience on macro economic aspects during this economic forum as well. I’ve witnessed such requests, be it in terms of achieving acro economic stability or be it in terms of bringing back the real economy back to its feet.

Hısarcıklıoğlu responded to the question “Are there factors that would attract Turkish entrepreneurs to this region or to the factories in the region that are in a difficult situation, in which fields should Turks invest in in Greece?” as follows:

“Of course there are… First of all the fact that the political will of both sides being very positive; this is the first important point. Second, there are approximately over 400 investments of Greek firms, in which the total sum is around 6.5 billion Dollars. Unfortunately, our Turkish investors, despite the fact that they proved to be very active in the Balkans excluding Greece, they were not able to replicate this activity in Greece. We know there are about 20 Turkish firms in Greece. In this framework, there especially are opportunities in every variety of sectors. Actually a crisis, also brings along opportunities. We must capitalise on these opportunities.”

- We write success stories in businesses we do with Greek businessmen as well.    

Especially the Greek economy, as we all know is based on the service sector. But other than the service sector there is of course the industrial sector as well. We can make use of the closing of these industrial facilities, especially the facilities of a Greece who is in the European Union, be it by exports to Turkey, or by exporting to the European Union or those countries that the European Union opens up opportunities for. When dealing with the term of external trade we must not only think of it as imports and exports, but think of it at the same time as investments as well. Today there are 15 thousand Turkish entrepreneurs in the Balkans excluding those in Greece, whom have invested; this is a remarkable opportunity. We write success stories in businesses we do with Greek businessmen as well. For example in Oman, there are two colossal projects, in which one is valued at 1.3 billion Dollars, the other being at 1.1 billion Dollars. In partnership with our Greek colleagues. Turkish firms and Greek firms have made a joint venture and have got the projects. We must ensure convergence. We must go altogether through this corridor of convergence that the political leaders opened a gateway to, so that the good economic relations that is going to be established will also lift the burden of the politicians in the future.

- Opportunities in other Balkan countries