Czech companies focus on investment in Turkey

Posted on: October 8, 2009

Written by Max Bielby

Czech companies are increasingly turning to Turkey for economic relations. Vaclav Hejtmanek, export consultant with the Czech Trade Promotion Agency, said his company is ready to provide information and assistance to Turkish firms to help find Czech suppliers and partners. CzechTrade maintains an office in Istanbul, hoping to boost cooperation between Turkish and Czech companies. Commercial relations between the Czech Republic and Turkey seem to have taken off in recent months. Last year Zentiva, the Czech Republic’s biggest manufacturer of generic drugs, acquired Turkey’s third-largest drug company, the largest ever investment by a Czech company in a foreign firm. Another Czech company, Cez, the largest power company in the Czech Republic, followed suit in June 2008 by acquiring the Sakarya Electricity Distribution Company in a joint venture with Turkey’s Akk’k Group. As of last year, the trade volume between Turkey and the Czech Republic was $1.5 billion and this is expected to reach $2.16 billion by the end of 2008. According to Czech officials, Turkey is among the priority countries with significant growth potential for business cooperation in the Czech export strategy for 2006-2010. Turkey Investment Property Turkey Property News