Turkish businesspeople should analyze Singapore: Envoy

By Ahmet Furkan Mercan

ANKARA (AA) - There is a huge investment potential between Turkey and Singapore, according to Turkey's ambassador to Singapore.

"I advise Turkish businesspeople to analyze Singapore closely," Murat Lutem told Anadolu Agency.

Singapore is not just a small market, but a leading investment center in its region and a path to the Southeast Asian market, Lutem said.

"It is very easy to establish the company and make an investment in Singapore," he stressed.

He noted that Turkey and Singapore's bilateral trade volume -- $1.07 billion in 2017 -- is less than their potential, despite Turkey signing its most extensive free trade agreement -- signed in 2015 and came into effect in 2017 -- with the country.

Pointing to Singaporean companies' investments in Turkey, Lutem said: "They invest especially in the sectors pf port management, food, malls, ready-made clothes, real estate, and finance."