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Mayor Emanuel announced this week that a new center to strengthen United States and Turkey economic relations for small and medium companies has opened in Chicago. On Thursday, twenty-five representatives from a variety of Turkish businesses officially opened the Small and Medium Enterprises Organization of Turkey (KOSGEB) Business Match-Making Center. The new center is tasked with facilitating cooperation among Turkish and U.S. enterprises, implementing joint projects and promoting mutual trade.
“Chicago’s economy is primed to develop both domestic and international enterprises,” said Mayor Emanuel. “Creating partnerships for economic growth will lead to more high quality jobs in a variety of sectors for Chicagoans and this vital link with Turkey will facilitate innovative business in both nations.”
KOSGEB, a Turkish governmental authority, facilitates growth of international business relations for Turkey based small and medium companies. The new center will provide services for a wide range of small and medium Turkish companies to expand and exchange best practices. Last year, they signed protocols of cooperation with the U.S. Small Business Administration (SBA), Minority Business Development Agency (MBDA) and International Trade Administration.
“KOSGEB will continue its efforts to explore more avenues of cooperation between Turkish and U.S. enterprises in the future,” said Fatih Yildiz, Consul General of the Consulate General of Turkey in Chicago.
The transcontinental Republic of Turkey is a major producer in telecommunication equipment, energy, machinery and textiles. Other flourishing industries include manufacturing of medical technology, banking and tourism. In the first eight months in 2012, the Turkish Central Bank reported the nation’s direct foreign investment totaled 7.7 billion dollars.
In addition to the new center, Turkish Airlines and Office of the Trade Attache of the Turkish Consulate under the country’s Ministry of Economy have offices in Chicago.