Turkey eyes new markets to counter declining European demand

"There is to certain degree stagnation in the world and Turkey's exports to these markets have been affected negatively but we are diversifying our export markets particularly at a time when demand from European markets are downsizing. We are planning to the shrink in European markets by turning to regional and neighboring countries," the Anatolian Agency quoted Tuzmen as saying. Tuzmen said exports to countries such as China, India, Iran, Iraq, Syria as well as countries in the Gulf region, north Africa and Central Asia would continue to grow in the coming months, adding that acting in solidarity with the neighboring and regional countries against the global crisis would have mutual positive effects.The foreign trade minister also said a recent formal visit from China to Turkey saw a new series of business contracts signed between Turkish and Chinese firms worth around $261 million.