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The Turkish President, Mr Abdullah Gul, and the Prime Minister, Dr Manmohan Singh, atHyderabad House in the Capital on Tuesday. - Ramesh Sharma

Our Bureau

New Delhi, Feb. 9

The Turkish President, Mr Abdullah Gul on Tuesday, invited Indian banks to open branches in Turkey. Mr Gul is on a six-day visit to India and discussed cooperation in the banking sector with the Prime Minister, Dr Manmohan Singh.

“We discussed opening of branches by Indian banks in Turkey. We also hope to see Turkish banks opening branches in India,” Mr Gul said, addressing a meeting with members of CII, FICCI and ASSOCHAM.

Trade pact

The Turkish President also stressed on the need for political will, for the signing of a Free Trade Agreement (FTA) between India and Turkey.

“I do believe the FTA can be signed very soon. Political will is very important for that and we have seen its manifestation today,” he said.

India and Turkey have a bilateral trade of about $3 billion (approximately Rs 14,000 crore) and discussions are on for a possible FTA between the two countries.

Mr Gul asked Indian industries to use Turkey as a base for their future business ventures in Europe.

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