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"The Brazilian president, Dilmer Roussef was in Ankara last week, and commented on the opportunities offered for Turkey and Brazil by the economic crisis. She pointed out they could increase bilateral trade, especially as both countries are performing strongly economically.
Recess was speaking at a forum organised by the Turkish Confederation of Businessman and Industrialists, and pointed out that the two countries were amongst a very few who have maintained high growth since the financial crisis. She pointed out the industrial products produced by both Brazil and Turkey are complementary, and bilateral trade between the two countries has already increased this year. In 2005 bilateral trade between Turkey and Brazil was $665 million. By 2010 this figure had increased to $1.8 billion.
Brazil and Turkey are perfectly placed to open doors for each other, as Brazil could help Turkish businessman Access Latin American markets, while Turkey could aid Brazilian businessman looking for new markets in Europe, the Middle East and Asia. The president also pointed out that the World Cup and Olympic Games which are due to be hosted by Brazil in 2014 and 2016 respectively, could present significant tourism and construction opportunities for Turkish businessman. Brazil could also help Turkey with its energy market, as it could share its experiences in producing biodiesel.
Turkey’s Foreign Trade Minister is said to have called on Turkish entrepreneurs to enter into the Brazilian market, as this would give them further opportunity to branch out to other countries in the region. During the first eight months of this year, bilateral trade with Brazil reached the same level achieved for the whole of last year. It's expected that during the next few years bilateral trade volumes will exceed $3 billion annually.
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