Tuzmen: Turkey to become world giant in contracting business in a couple of years

Turkish State Minister Kursad Tuzmen said Tuesday Turkey's target in foreign contracting business is to lead the world.

"We aim to undertake 500 billion USD of business in 2023 -- when Turkish Republic will be celebrating the 100th anniversary of its foundation," he told.

Tuzmen said some of Turkish contracting companies are a world brand today and Turkish contracting business is the third in the world following the United States and China.

"There are 22 Turkish firms among 225 giant contracting firms in the world," he told.

According to him, Turkish contractors have undertaken more than 100 billion USD of projects in the world so far.

Tuzmen said Turkish contracting firms are having letter of guarantee problem and pay high amounts of money to foreign banks.

"If Turkish banks extend support to contracting firms, our firms will become more lucrative and undertake more projects in the world. Thus, we can reach our targets earlier than foreseen," he told.