Aegean free zone trade volume up to $1.5 bln

Largest investors in the region Germany’s Hugo Boss and Italy’s Eldor decided to increase their capacity, and new foreign direct investments are flowing to the region, Tuncer said, and added that five firms from Italy, UK and Germany and six Turkish firms received licenses for investment in the zone.

“Aegean free trade zone’s trade volume rose 53 percent to $1.5 billion in seven months of this year. What is pleasing is that 50 percent of this trade volume was carried out by the firms making production here. It is predicted that the number of people employed here rises to 11,500 from 10,000 at the end of this year,” he said.

He said that the zone would be full before 2012, with number of workers reaching 30,000 and trade volume $5 billion.

Tuncer said that the promises of Foreign Trade Minister Kursad Tuzmen and Finance Minister Kemal Unakitan that the incentives provided to the free trade zones would not change played a role in recent rise of investments.

“For attaining the goals with the free trade zones, the incentives provided under the Free Trade Zones Law should never be touched because attempts to change the law will not only collapse the free trade zones but also prevent foreign direct investments into Turkey,” he said.