"Turkish Autos face competition from new EU members-Fitch
14:38 - 15 April 2005 - Fitch Ratings, the international rating agency, says Turkish automakers need to improve their competitiveness or they risk being marginalised by competitors from those EU accession countries benefiting from fiscal or non-fiscal incentive packages.
Fitch says initiatives to improve research and development environment, to increase local patented designs and to improve technology are essential for the success of the auto industry in the medium- and long term. State initiatives such as reduced corporate taxation, tax breaks or land allocation incentives, which might compete with the ones provided by Central Eastern European states, would certainly help Turkey keep its business climate attractive. "
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