TURKISH – FRENCH ECONOMIC RELATIONS
Turkish Press
Oct 25 2006
ANKARA – Turkey’s share in France’s overall exports was only 1.3
percent last year, said economy bureaucrats a day before the French
parliament debates a resolution that makes denial of the so-called
Armenian genocide allegations a crime.
According to economy bureaucrats, France had 5.2 percent share in
Turkey’s overall exports.
Turkey imported French products worth 5.8 billion USD last year,
while it earned 3.7 billion USD from its exports.
524 French companies are working in automotive, food, insurance,
banking, retail and fuel oil industries in Turkey.
French insurance firm "Groupama" bought 41 percent of Turkish "Basak
Emeklilik" (private retirement) last May.
On the other hand, Renault has a big automotive factory in Turkey.
Automobiles produced in Turkey are exported to European and
Commonwealth of Independent States (CIS) countries.
Turkish Ekonomi Bankasi (TEB) Mali Yatirimlar Corp. (Financial
Investments) signed a partnership agreement with BNP Paribas on
February 10, 2005. Thus, BNP Paribas had a share in TEB Yatirim
(investment), TEB Leasing, TEB Factoring, TEB Sigorta (insurance),
TEB Portfoy Yonetimi (portfolio management) and TEB NV.
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Meanwhile, French retail firm Carrefour cooperated with Sabanci
Holding in 1996, and has 470 markets in Turkey. CarrefourSA employs
7,500 people in Turkey.
Lafarge is another French company functioning in cement industry in
Turkey. It had a 350 million Euro turnover, and employed 1,500 people
in Turkey in 2005.
French Danone firm has investments in dairy products and potable
water industries in Turkey.
Elf and Total (oil companies), Sodexho Pass (catering), Citroen
and Peugeot (automotive), L’oreal (cosmetics) are the other French
companies investing in Turkey.