UPDATE - Turkish exports to hit all-time high in 2017: Minister

UPDATES WITH PAPADIMITRIU’S COMMENTS, EDITS THROUGHOUT

By Gokhan Ergocun

ANKARA (AA) - Turkey's 2017 exports will increase by more than 11 percent annually to reach an all-time high in the country’s modern history, the economy minister said Wednesday.

“We will exceed $157.6 billion this year, which is the historical high, with an increase of 11 percent over the year,” Nihat Zeybekci said at the Aegean Economic Forum in Izmir.

Turkey's exports rose by 16 percent in October compared with the same month last year, Zeybekci said.

“If Turkey and Greece can turn the Aegean region into the education, high technology, health tourism, renewable energy, software, pharmacy and organic agriculture center of Europe in the 21st century, the region will be as rich as it was in the past,” he added.

The minister urged the revival of business forums that were successes in 2014 and 2015 for both Turkey and Greece.

“We will bring business people together in these forums, which will be held every six months between the two countries” he told delegates.

Turkey's exports were $11.33 billion in September and $114.66 billion during first nine months of 2017, according to the Turkish Exporters Assembly (TIM).

The country's exports reached $153.02 billion over the last 12 months, TIM said.

- Economic cooperation

The figure of $157.6 billion -- mentioned by Zeybekci -- was reached in 2014, according to Turkish Statistical Institute.

Izmir, on Turkey’s western coast, was Turkey's third highest exporting city in the first eight months of 2017 -- amounting to $5.87 billion.

Greek Economy Minister Dimitris Papadimitriu told the conference that Athens and Ankara needed to focus on economic development together.

“There are many areas in which Turkey and Greece can cooperate,” he said.

“Clearly, tourism is important sector for Greece that represents more than 20 percent of our GDP and of course we want to expand it more.

“Investment is very important, especially for Greece, because as you know Greece has just came out a depression after seven years.”

Papadimitriu said Greece's investment in Turkey reached €3 billion ($3.54 billion) but Turkish investment in Greece stood at just €440,000 ($519,000).

The two countries' bilateral trade volume was $2.6 billion in 2016.