"The most important things about Turkey are it's size, it's wealth and potential growth. Very few countries in the world are poised for take-off in the same way." The factors, which give competitive strength to the Turkish manufacturing industry, are: Abundance of natural resources Its geographical proximity to the export markets, Developments in infrastructure and telecommunications systems, Existence of a large domestic market and the enforcement of liberal economic policies. Turkey, with its traditionally good quality workmanship, efficient infrastructure & advantageous labour costs, is now attracting the interest of developed countries for investment purposes. Turkish companies welcome foreign investors through joint ventures with the transfer of technology and making use of skilled labour to be competitive in the world markets. Turkish manufacturing exporters follow European and international standards and norms, and the majority of them include the "CE Mark" on their products. The manufacturing industry has achieved an annual average growth rate of 6% since 1990 and it accounted for 70.9% of total physical production in 1994. Exports of manufacturing industry accounted for 85% of the total exports in 1999 The product range of the Turkish Machinery Industry consists of boilers and burners, building machinery, heavy industrial machinery, machine tools, milling machines, drilling machines, cutting and bending machines, pumps and compressors, hand tools, power turbines, air conditioning units, machinery, hoisting and conveying machinery, sewing machines, refrigerators and washing machines (both domestic and industrial) valves, gears and bearings.