The Turkish State Minister for foreign trade said on Wednesday that Turkey and Brazil were not competitors, but they were two countries which had numerous sectors that complemented each other.
Speaking at Turkey-Brazil Business Forum meeting in Sao Paulo, Turkish State Minister Zafer Caglayan said common economic areas between Turkey and Brazil had been determined during his talks in Brazil accompanied by a crowded business delegation last July.
Noting that the recent global economic crisis caused a 20 percent decrease in the two countries' foreign trade, Caglayan said economic relations between the countries were not satisfactory at the moment.
"The diplomatic cooperation between Turkey and Brazil should have reflections in economic ties as well. Turkish and Brazilian businessmen could cooperate in economic areas in third countries," he said.
Caglayan said the foreign trade volume between Turkey and Brazil did not reflect the real potential, adding free trade agreements were of great importance for improvement of economic relations.
"Turkey and Brazil are not competitors, but they have numerous sectors that complement each other. This is a great advantage for both countries. This can lead to a speedy progress in their cooperation," Caglayan said.
Brazil's Minister of Development, Industry & Trade Miguel Joao Jorge Filho said in his part that the two states could improve their relations in many areas, noting their ties got stronger significantly during the last one year.
Filho listed the potential cooperation areas as energy, infrastructure, aviation, automotive and foodstuff sectors.
Turkey, Brazil partners, not rivals, Minister says
The Turkish State Minister for foreign trade said, that Turkey and Brazil were not competitors, but they were two countries which had numerous sectors that complemented each other.