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Boom time for Turkish contractors

Turkish construction groups are enjoying rapid growth as the government has stepped up its efforts to become a regional power broker in the Middle East and former Soviet Union.

Frustrated by a lack of progress in its efforts to join the EU, the Ankara government has instead turned its attention to nearby Islamic states and emerging nations.

Turkish construction companies are now employed in more than 80 countries, working on projects including Dubai’s new subway system and the rapid development of Kazakhstan.

The value of overseas building contracts soared from $750M (£492M) in 2000 to $23.6bn (£15.5bn) in 2008.

That slipped back to £13bn last year as activity in the sector was hit by the global financial crisis, however the country said it is targeting international contracts worth £33bn by 2015.

Overseas trade minister Zafer Caglayan said: “People should never forget that those who have closer economic relations with Turkey will prove to be the profit-makers in this region. This applies to the European Union, too.”

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