Singapore plans to invest $900 million in Turkey, a senior official said on Wednesday.
In an exclusive interview with The Anadolu Agency, Second Undersecretary of the Singapore Ministry of Foreign Affairs Albert Chua said that "Turkey and Singapore can do more together."
"The current investments of Singapore in Turkey are about $300 million, which is not a large amount," Chua said.
"We are working to improve relations in all fields between Turkey and Singapore," Chua pointed out.
Chua said Singaporean investors are interested in the Turkish market, which has a high potential. Banks and certain non-financial companies are the most high-profile targets for the time being, he added.
The geographical distance between the two countries is not important, Chua explained. "What matters is that the two countries share the same perspective."
Chua visited the Turkish capital of Ankara to hold bilateral talks with the Undersecretary of the Turkish Ministry of Foreign Affairs, Feridun Sinirlioglu, on economic and political issues.
According to the Turkish Foreign Ministry's website, Turkey established diplomatic relations with Singapore on February 12, 1969. The total trade volume between Turkey and Singapore has maintained a steady level of $1 billion. At present, there are 49 Singaporean companies operating in Turkey.