By Yunus Turk
ISTANBUL (AA) - Around 300 Swiss firms have invested over $10 billion in Türkiye so far, as Arpat Senocak, chairman of the Swiss Chamber of Commerce in Türkiye, told Anadolu.
Senocak said this figure is expected to increase as conditions for investments improve, and it is the chamber’s main purpose to bring the business circles of the two countries together with the current 160 member firms they have.
Switzerland stands as the eighth biggest investor in Türkiye in many various sectors, from financial services to food and trade, he added.
“There are many firms wanting to enter the Turkish market, as there is a positive expectation about Türkiye in almost every field, which is why they are evaluating opportunities to seize them at the right time,” he also said.
The bilateral trade volume between Türkiye and Switzerland has been in a balance for many years, with exports and imports remaining at the same levels, Senocak noted.
- New economic policies received positively, giving rise to investment appetite
Despite the economic hardships Türkiye has been through for the last few years, the recent decisions taken and the policies implemented have been received positively, and it will continue to be positive, influencing the investment appetite, Senocak said.
“Swiss investors don’t do short-term investments in Türkiye, as we have member firms that have been investing for over 60, or even 100 years,” he said.
He highlighted that they put in intensive efforts in the last two years to prepare to help Turkish firms organize their exports to Europe in compliance with the EU's Carbon Border Adjustment Mechanism, and currently, Turkish firms with the most mass exports are ready, and small- and medium-sized enterprises are gradually getting there.
- Decline in Türkiye’s 5-year credit default swap positively impact investment costs
Senocak said the decline in Türkiye’s five-year credit default swap positively impacted investment costs, and that he’s on the lookout for the updates from Türkiye’s position in the Financial Action Task Force’s grey list, as a positive outcome would be beneficial for investments.
He also noted that the chamber will organize a Swiss Days event in collaboration with the Swiss Consulate in September, where the main theme will be education, as they will bring together people from universities and professional institutions in an environment of information exchange.
*Writing by Emir Yildirim