Japan bank keen to work with Turkish companies

ISTANBUL - Anadolu Agency

Collaborations between Japanese and Turkish firms in third countries, especially in Africa, could bring success, since the two countries complement each other, a Japan Bank for International Cooperation (JBIC) senior official said on Feb. 20.

“In the Africa region I understand that Turkish companies have very close ties, network and business routes.

We expect to see successful partnerships in the Africa region as soon as possible,” JBIC Global Head of Infrastructure and Environment Group Kazuhisa Yumikura told Anadolu Agency.

Yumikura said Turkish companies hold a “unique” competitive edge and know-how in the construction sector.

“Japanese companies don’t have such competitiveness in this area. Turkish and Japanese companies are complementing and supplementing each other and this combination assists the smooth implementation of business,” he said.

Yumikura added that the bank also provides export loans to Turkish buyers in order to support foreign trade between the two countries.

He appreciated Turkey’s “tremendous” economic growth in 2017 and expected it to continue in upcoming periods.

“The strength of the economy or prosperity here means more than statistical numbers. I feel a great strength in the Turkish economy right now,” he said.

Recalling that the JBIC recently signed an agreement with Turk Eximbank to support Turkish and Japanese companies to collaborate in other countries, Yumikura said the deal would contribute to the maintenance of strong growth.

The JBIC has provided bank-to-bank credit line in Turkey, which is still active, Yumikura also said.

“We have extended outstanding loans to four Turkish banks for supporting Japanese exports to Turkey – İş Bank, Yapı Kredi, Denizbank and Garanti,” he said.

Yumikura said the bank also supports renewable energy, energy efficiency and global environment projects in Turkey through the Development Bank of Turkey and Industrial Development Bank of Turkey.