Hyderabad, Nov 16 (FN Agency) Federation of Telangana Chambers of Commerce and Industry (FTCCI) and Foreign Economic Relations Board (FERB) of Turkey on Wednesday signed a Memorandum of Understanding (MoU) to facilitate trade and investment between Telangana and Turkey.The MoU was signed in the presence of Orhan Yalman Okan, Hyderabad Turkish Consulate General, Turkey, Suresh Kumar Singhal, Vice-President, FTCCI, Ms Hülya Gedik, Chairperson, Turkey-India Business Council, Turkey among others. Speaking on the occasion, Singhal said “The Indian markets especially Telangana have been growing consistently and there are great opportunities to expand trade and investment. The city has changed a lot in the last two decades and Hyderabad infrastructure provides of global standards. Not just in IT, Hyderabad is also one of India’s main hubs for the pharmaceuticals sector, with the city accounting for 30 per cent of the country’s pharmaceutical production. One of the largest business Incubator T-HUB2 also in Hyderabad.
We can cooperate with each other in the field of Agritech, Education, IT Technologies, Life Sciences, Pharma, Real Estate & Infrastructure, Energy, Clean Tech, aerospace and other similar sectors, by adopting new/latest technology,” he added. Ms Hülya Gedik said, “ We have signed the MoU with FTCCI to coordinate efforts to collect, combine, analyze, evaluate and diffuse information in relation to trade, industrial and technological cooperation and investments between India and Turkey. We have decided to arrange for meetings of the officers engaged in carrying out activities once a year on an alternating basis in Türkey and in India to examine the achievements and opportunities in the fields of trade, investments, industrial and technological cooperation and on various forms of trade, finance, bilateral and international collaboration. We both will identify the obstacles in trade and economic cooperation, and submit proposals to overcome them to the two respective governments. We decided to collect statistical data and information on opportunities in the field of trade, investment and other forms of economic cooperation, and convey such information to relevant companies in India and Turkey, ” she added.