BREAKING NEWS

Report: Iran-funded companies rise dramatically in Turkey

By JPOST.COM STAFF

NOVEMBER 17, 2012 00:40

The number of Iranian-funded companies established in Turkey rose in October for the 10th consecutive month, according to Turkish daily Today's Zaman, citing a Turkish Union of Chambers and Commodity Exchanges (TOBB) report released Friday.

The report found that 37 out of the 252 foreign companies incorporated in Turkey in October were Iranian-funded. It also showed that 688 Iranian-funded businesses were established in Turkey in the first 10 months of this year.

Germany and Russia, with 271 and 135 companies established in 2012, respectively, placed second and third on the list.

According to Today's Zaman, the report also found that the total number of Iranian-financed companies in Turkey numbered 2,140 at the end of 2011, a 40 percent increase over 2010.

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