Turkish car maker Tofas is targeting one billion euros’ worth of exports in 2003 after exporting $711.3 million of motor vehicles in 2002, chief executive Antonio Bene told Reuters on Monday.
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Tofas, a partnership between local firm Koc Holding and Italy’s Fiat (FIA.MI), hoped to benefit from increased trade with China to boost exports this year, Bene told the news agency.
Reuters noted that Turkey’s automotive sector, a main driver of the economy, has looked to exports to soften the impact of a February 2001 financial crisis, which crushed domestic demand and sparked the country’s worst economic slump since 1945.
