Macedonian Prime Minister Nikola Gruevski and members of a government delegation addressed Monday a business forum held in the Turkish province of Kocaeli to present the benefits offered by Macedonia to foreign investors interested in opening a business and creating new jobs in the country.

The business forum, organized in cooperation with the Kocaeli industrial zone, was attended by managers of several companies in the automotive and chemical industry and representatives of the steel and textile industry.

In his address at the forum, PM Gruevski focused on the reforms and achievements made in Macedonia that are crucial in establishing a business cooperation. Macedonia, he stated, has stable macroeconomic conditions and stable and low inflation rate, which is of particular importance for the foreign investors.

"We are primarily focused on creating a solid business climate and it is our priority that is set to encourage local companies to make new investments and to attract foreign companies to visit Macedonia and invest there. In 2006 when we rose to power in Macedonia, the World Bank had ranked the country 94th according to the conditions for doing business, while today Macedonia is 25th in the world," noted Gruevski.

Macedonia has recorded a GDP growth, which is the highest in Europe in this period - 3.9% in the first quarter and 4.3% in the second quarter, the PM said. "In addition to the serious challenges facing the European economy, we have focused our efforts on developing the economy, advancing business conditions and offering favorable investment opportunities," Gruevski stated.

Furthermore, the Macedonian Premier underscored the remaining benefits, including low taxes.

"The Republic of Macedonia is a country with the lowest taxes for running a business. We have introduced the most favorable package of flat and low taxes. Profit tax and personal income tax are only 10%, thus being one of the lowest in Europe," PM Gruevski stated.

Presenting the characteristics of Macedonia's economy at the forum, the minister in charge of attracting foreign investments, Bill Pavleski mentioned that Fitch rating agency had affirmed Macedonia's stable credit rating (BB+) as a result of the improved perspectives for economic growth.

"The main trade partners of Macedonia traditionally are Germany, Bulgaria, Greece, Serbia. However, with more and more foreign investors coming in Macedonia, our international trade is on the rise with other countries in the EU and beyond," Pavleski stated.

The event was also addressed by the president of the Kocaeli Chamber of Industry, Ayhan Zeytinoglu.

"Our goal is to present our economic potentials and I believe that with the achievements made in Macedonia, you will be able to use those potentials that are at your disposal," Zeytinoglu stated.

28% of the chemical industry in Turkey is based in the Kocaeli Province, which is also attractive for the automotive industry. 13 industrial zones, three technological parks and two free trade zones are also located in the Turkish province.

The CEO of the Turkish company OXI Group, Yuksel Isbilir, said Macedonia offered the best conditions and circumstances for launching an investment.

"That's why we have decided to invest and a company has been established in Bitola for the production of various rubber products, which is set to open by October at the latest," stated Isbilir.

Last week his company announced the opening of a plant in Bitola and the creation of 400 jobs.