Turkey to become a production hub for Europe

Japan's economic woes as a result of the devastating earthquake may lead to Turkey's emergence as Europe's production hub. The recession in Japan forced many companies to rethink their market strategies, according to Vaillant Turkey CEO Christoph Grosser, who described Turkey's position as 'highly advantageous' as the balance of business shifts to Europe.

"Turkey hosts a large number of foreign companies with local production operations for both domestic and international markets. As the nearest industrial nation to Europe, Turkey is clearly the choice for a production hub," Grosser stated.

Stressing the importance of Turkey's economic potential, Grosser said that the country's financial system is stronger than those of its neighbors and Europe.

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