Textile corporation initiates first Turkish private venture in Syria
Turkey’s Akteks Acrylic Thread Industry and Trade Corporation recently established a new textile plant in Aleppo, Syria. The eight million dollar manufacturing facility is Turkey’s first private investment in the country. The joint venture is expected to manufacture 10 tons of thread in its first year of production, with a capacity increase to follow in the following year, reported Anatolia.
Some 70 percent of the factory’s 300 workers will be of Syrian nationality while the remaining 30 percent will be Turkish nationals. Based in Gaziantep in southeastern Turkey, Akteks exports its products mainly to the Arab countries.
Former enemies, Turkey and Syria came to the brink of war four years ago when Turkey threatened military action if Syria continued to shelter Kurdish rebel leader Abdullah Ocalan and his militants. Tension eased in 1998 when Ocalan left Damascus and Syria signed a security cooperation accord with Turkey, opening the door to a thaw in relations and an exchange of visits. — (menareport.com)
© 2002 Mena Report (www.menareport.com)