Made in Turkey by İstmag Magazin Grubu

ISSN 1300-2260

www.img.com.tr

March 2014 Year: 11 No: 119

Trans-Anatolia Gas Pipeline to produce jobs and new opportunities

he Trans-Anatolia Gas Pipeline (TANAP), the gas pipeline project that will carry Azerbaijani natural gas to Europe through Turkey, will produce 5,000 jobs in 21 provinces in Turkey, The Turkish Energy Minister Taner Yıldız has pointed out. Speaking to reporters Energy Minister Taner Yıldız said the TANAP was slated to be carried into effect as of 2018 and would produce employment in the cities it will pass through and for the domestic steel pipe makers that will take part in the project. Yıldız said the total amount of investment planned to be poured into the pipeline is around $45 billion, nearly $30 billion of which will be injected into construction at production sites over a four-year construction period, expected to be started in 2015. Local steel pipe makers, who have been struggling with tough trade conditions abroad, have pinned their hopes on the project.

Turkish Energy Minister Taner Yıldız

The Turkish part of the pipeline will require approximately 1,800 km and approximately 2 million tons of steel pipes. Six of the 18 steel pipe suppliers involved in the project are from Turkey. The TANAP is planned to carry 16 billion cubic meters (bcm) of gas from Azerbaijan’s Shah Deniz II field in the Caspian Sea, one of the world’s largest gas fields. “We have two major advantages in the TANAP pipeline: A carrier and a consumer,” Yıldız said. The energy-hungry Turkey will receive six bcm of natural gas, while 10 bcm, equal to about 1.5 percent of Europe’s total consumption, will flow to Europe. Dependent on expensive energy imports, Turkey is trying to secure and diversify energy routes to keep its steadily growing economy moving forward. In his remarks, Yıldız also noted that Turkey wants to wrap up the talks aimed at increasing its 20 percent stake in the project to 30 percent by mid-April. Page 5

IMF Managing Director Lagarde proposes a new multilateralism

esponding to current and future economic trends requires a renewed commitment to international cooperation, IMF Managing Director Christine Lagarde said in delivering the 2014 Dimbleby Lecture in London. She pointed to “two broad currents” that would dominate the coming decades—increasing tensions in global interconnections; and increasing tensions in eco-

nomic sustainability. To address these emerging global tensions, she proposed: “A solution that builds on the past and is fit for the future: a strengthened framework for international cooperation. In short, a new multilateralism for the 21st century.” Elements of the new multilateralism The major elements of this reinvigorated multilateralism would include:

• A renewed commitment to economic openness and to the “mutual benefits of trade and foreign investment;” • Managing an increasingly complex international monetary system that has traveled “light years” since the original Bretton Woods system; and • Building a global financial sector for the post-crisis era that “serves the productive economy rather than its own purposes.” Page 5

Exports boost by 4.3 % in February most exporting sector with $1 billion 836 million. The sector showed 2.9 percent increase over the same month last year. Readymade clothing sector followed it with $1 billion 489 million, and chemical matters with exports worth $1 billion 449 million with rise of 7.2 and 1.4 percentages respectively. Page 7

urkey’s exports increased by 4.3 percent in February hitting $12.1 billion, in the first two months of 2014 Turkey’s exports boosted 6.5 percent to $24 billion 566 million over the same period previous year Turkey’s goal for 2014 is to achieve $166.5 billion of exports. Its exports were about $12 billion in January 2014. The most exports were accomplished to Germany, Iraq and the UK in February across the world. Turkey’s exports boosted 6.5 percent to $24 billion 566 million in January – February 2014 over the same period previous year. In February 2014, exports in the agriculture sector surged 11.5 percent to $1 billion 799 million. In the sub sectors of the agriculture, the vegetable product ex-

ports accomplished $1 billion 268 million with 10.1 percent rise. The animal product exports became $186 million with 25 percent rise. Tree and forestry product exports increased 10.1 percent to $345 million. The industrial product exports raised 4 percent to $9 billion 967 million in February’14 over the same month last year. In the sub industrial group, processed agricultural-based exports increased 10.5 percent to $1 billion 39 million, the chemical product exports increased 1.4 percent to $1 billion 449 million. Industrial goods exports increased 9.3 percent to $7 billion 203 million. The mining sector exported the products worth $328 million with 17.9 percent. In February 2014, the automotive industry became the

urkey will break a new record if it reaches an annual tourism revenue figure of $30 billion in 2013, as the number of tourists climbed from 13 million to 36 million in 11 years, Turkish Prime Minister Recep Tayyip Erdoğan said. Erdoğan stated that the newly-laid Gazipaşa Airport would serve at least 1.5 million tourists after the completion of the new track and terminal building, at a groundbreaking ceremony in Turkey’s southern coastal Antalya province. As he pointed out, Antalya is a city of civilization, history, culture, tourism, industry and agriculture. Erdogan noted that it is first and foremost a world city that serves as a window for Turkey to open up to the world. Page 5

Murat Ülker tops mogul list in Turkey Turkish Economy Minister Nihat Zeybekci

“Our fear not current account deficit”

urkey’s Economy Minister Nihat Zeybekci said they were not afraid of the current account deficit, but R & D, patent, brand and innovation are crucial to achieve the target set for 2023. Visiting Vestel factory in the scope of program in western city of Manisa, Minister Zeybekci joined business breakfast meeting which was organized by Manisa Organized Industrial Zone. He said the scene that has seemed in the organized industrial zone made them happy. Reminding in his every visiting he prayed Manisa organized zone by saying, “May Allah protects the zone against evil-eye”, Minister Zeybekci continued; “We saw much the fuming from chimneys of the zone, heart beating and activities of every factory. These are very healthy images. Page 7

Turkish aviation exceeds 150 million passengers in 2013 urkey’s civil aviation had a record-breaking year as the passenger number jumped to over 150 million in 2013, the country’s transportation minister has announced. The number of passengers has been

Turkey aims to reach record high tourism figure in 2013

posting remarkable rises steadily since the liberalization of the sector in 2003 but the numbers climbed to a record high in 2013 with a 14.6 percent rise from the previous year, Turkish Transportation Minister Lütfi Elvan said. Page 6

urkey’s largest food group Yıldız Holding’s chairman Murat Ülker has become the richest man in Turkey with a fortune of $3.7 billion, according to Forbes magazine’s “100 richest people in Turkey,” published March 1. Şarık Tara, founder of Turkey’s largest construction company ENKA, was ranked second with a fortune of $3.3 billion. Fiba Holding Chief Executive Officer, Hüsnü Özyeğin, came in third with $3 billion. Page 4

Europe’s energy markets anxious over Russia-Ukraine tension

NKARA - Europeans are keen to avoid a return to the freezing winter of five years ago when the gas supply was switched off for nearly 13 days due to a Russia-Ukraine price dispute as tensions escalate again in the region due to Russia`s intervention in Crimea. Russia currently supplies more than 25 percent of Europe’s natural gas, and 80 percent of that gas transits through Ukraine. According to experts, this is making Europe hesitant about making major decisions on the tension between Russia and Ukraine. Mesut Hakki Casin, a professor of international relations at Istanbul`s Yeditepe University, stressed that natural gas is a must for Europe to maintain economic growth. Page 6

Solar power to reduce foreign oil dependency

ithin the next 10 years in order to generate the sufficient energy by itself, Turkey should invest worth $118 billion of which $11 billion should be for renewable energy, Yalcin Kiroglu, Chairman of Unlicensed Electricity Generating Association (LI-DER), said. In the second meeting which was held by Young Executive and Businessmen Association (GIAD), the energy issue was laid on the table.

Made in Turkey Economic Newspaper, March 2014

Letter From The Editor Mehmet Soztutan Editor-in-Chief

A promising future lies ahead for Turkey

s noted by several foreign investors,Turkey’s geographical location, young population, and vibrant private sector provide the necessary base for a promising outlook. In addition, the reforms of the last decade, together with the strengthening of the macroeconomic policy framework during that period, provide the necessary foundations for Turkey to reach its goal of becoming a high-income economy. However, Turkey will have to address expeditiously its competitiveness challenges and reduce its external deficit. These two aspects are intimately linked. Raising domestic savings, maintaining a strong nominal anchor through a normalized monetary framework, and ensuring that structural reforms result in attracting more foreign direct investment, are all the critical components that will assure Turkey’s place as one of the world’s most promising emerging economies. As known, “Turkish Exports Strategy for 2023” was initiated by the Ministry of Economy and Turkish Exporters Assembly . The main purpose of this strategy is to reach 500 billion dollars of exports volume in 2023, with an average of 12% increase in exports annually. Becoming one of the world’s 10 largest economies in 2023 and taking 1,5% share from the world’s trade are also being targeted. Furthermore, it is planned to reach 80% exports/imports ratio in 2023. This strategy has a long term perspective rather than focusing on short term targets. In order to reach the long term targets, the new strategy encompasses both production and exports components. In this respect, the exports strategy of Turkey establishes a production plan towards export performance. Basic elements of this strategy are shifting production from low technology sectors to high value added areas and achieving new investments in high-tech sectors. Actually, commitment to sound economic policies since 2002 has placed the Turkish economy in a good position to embark on a sustained path of growth. Progress has been achieved in reducing inflation and real interest rates, improving public finances, restructuring the financial sector, improving the business environment, and reforming the public sector. We are confident that economic stability would prevail in Turkey

Ravago acquires 25 years old Tekpol

he Belgian petrochemical Company, Ravago continues its investments in Turkey choosing the country as the production base. At the beginning of 2014, Ravago Petrochemical Inc. - which has comprised of Eastchem, Enplast and Ravago Kimya firms - has acquired Tekpol that acts in the field of Polyurethane System House products. Entering into thermoplastic polyurethane production activity 2 years ago in the area of polyurethane product groups, Ravago Petrochemical Production Inc. has achieved the aforementioned acquisition worth 36 million euro. Stating they have maintained the growth by acquiring Tekpol which realizes over 300 polyurethane system products, Mehmet Onur, Chairman of Board of Ravago Turkey Group, said: “At the end of acquisition Tekpol that we see an ideal investment in terms of our targeting polyurethane portfolio, we aim to increase our market share up to double. We have also embarked on branding process that we have planned to spread across the all segments. Together with acquisition we have already started investments directed towards production in the countries of the Middle East, Russia and the Gulf countries, as well as marketing polyurethane.” There is no worldwide similarity of Ravago-Turkey Indicating targeted turnover of Tekpol in 2014 was 60 million euro, Onur said, “Apart from rigid and flexible polyurethane, Tekpol markets over 300 products by producing in the segments of adhesive, footwear, sponge and polyurethane covering segments as quickly growing market. Ravago Turkey Group has become a worldwide unique structure in the group with a portfolio which comprises of thousands of products ranging from rockwool to membrane and insulation plates

Letters to the Editor turkey@ihlas.net.tr

as well as plastic, rubber, elastomer and chemicals in production and distribution along with this acquisition.” It has brought Turkey to the most strategic country position Accomplishing the first plastic investment 15 years ago by installing Resinex – BMY Inc. in Turkey, today Ravago has reached a leading firm position in plastic raw material production and supply. Having 10 percent of turnover in the entire turnover of global Ravago with this success, Ravago Turkey Group has raised Turkey to the most strategic regional position. In addition acquisition and direct investments over 70 million euro, also employing number of 800 people the firm shows that it gives importance to Turkey. Ravago It is a family company established in 1961 in Belgium for plastic recycling issue. Ravago Plastics has become a global player in the raw material and construction production and distribution through its entrepreneurship structure and successful management. Displaying a multicultural business establishment structure with over 180 partnerships in different countries and nearly 5000 employees, Ravago aims to boost its partnerships in Turkey more. Ravago started its activities with the establishment of Resinex BMY Inc. with 50-50 partnership of Mehmet Onur and Ravago Plastic S.A. in 1998. Today in the plastic and chemical area of Ravago Turkey Group, there are 7 companies and 4 companies in the construction insolation area with total of 800 employees and exports 30 thousand tons to 50 countries. In 2014, through merging its petrochemical production companies Ravago Petrochemical Production Inc. ranks second big plastic raw material producer following Petkim in terms of plastic raw material in Turkey.

Not so fragile

Surprising

The Fed’s withdrawal from QE is accompanied by a capital-flow reversal, increasing borrowing costs and hampering GDP growth. Emerging market currencies including Turkey’s lira, Brazil’s real, India’s rupee, Indonesia’s rupiah and South Africa’s rand have recently fallen rapidly, as investors have pulled money from the countries. Wall Street has even nicknamed those nations the “The Fragile Five,” given the volatility. I think Turkey should be excluded from The Fragile Five because Turkey has been able to sustain its current account deficit in turbulent times since 2008. History will repeat itself.

M. Harr/ Brussels

While Bernanke’s surprising pronouncement led to substantial turmoil in the financial markets during the second quarter, the Fed did not officially announce its first reduction in Quantitative Easing until December 18, 2013, at which point it reduced the program to $75 billion per month from its original level of $85 billion. The reason for this move was that the economy had become strong enough for the Fed to feel confident in reducing the level of stimulus. The tapering continued on January 29, with the Fed announcing that the continued improvement in economic conditions warranted a reduction in QE. Currently, the consensus estimate is that the Fed will continue to reduce the size of its QE program through 2014 and ultimately wind it up by the end of the year.

H. Drog/ Geneva

Tapering Tapering is a term given to an expected series of upcoming actions on the part of the Federal Reserve to pull back new infusions of cash into the U.S. economy. Ever since the credit crisis and subsequent Great Recession, the Fed has been injecting liquidity into the banking system to stimulate the economy and keep interest rates low. At some point, when the economy shows enough signs of improvement, the Fed will need to begin slowing the rate at which it buys assets and pumps up markets. Investors and other financial observers fear that as the Fed begins this tapering process (tapering off the buying of assets to inject liquidity into the economy) markets and the economy may suffer.

K. Gan/ Berlin

Cumulative progress The Federal Reserve decided to continue winding down its massive bond-buying program, following Ben Bernanke’s final meeting as chairman of the central bank. In a move that was widely expected, the Fed said it will reduce its bond-buying program to $65 billion in February, down from $75 billion in January. The Fed had been purchasing $85 billion in bonds each month since September 2012 in an attempt to stimulate the economy. But it began reducing the program a process Wall Street has nicknamed “tapering.” Officials were looking for improvement in the job market, and given unemployment has fallen over the last year, they decided there was enough “cumulative progress” to warrant a slowdown in stimulus.

H. Yan/ Nice

Marina project to attract 25 million of tourists to the district of Tuzla Projects from Topbaş to make the district of Turkey asks Iran to lift ‘fuel oil price difference’ tax

NKARA - Turkey requested Iran to lift or revise the `fuel oil price difference` tax payment applicable to Turkish transport vehicles in Iran, Turkey’s General Directorate for Highways announced. According to the announcement on the Directorate General for Highways’ website, Iran will be presenting its solution offer to Turkey in April. Iran takes a `fuel oil price difference` tax from Turkish transporting companies for goods transported to Iran, which is a 10 percent additional tax payment. Turkish authorities stress that this practice produces unfair competition against Turkish transporting companies.

tating that they would bring two different metro to the district of Tuzla, Kadir Topbaş said; “We are also building Viaport Marina in Tuzla to be a very crucial activity center of Istanbul. Such a center will fascinate 25 million people to come here. Predominantly from Tuzla, the number of 2 thousand 500 people will be employed as well.” Coming together with the citizens and tradesmen in Tuzla, Kadir Topbaş, Mayor of Istanbul Metropolitan, reminding the investments and services have been carried out in Istanbul within ten years, and continued; “We have built an Istanbul that even though someone’s vision would not be enough. Istanbul cannot be left to coincidences, cannot be dragged into adventures. It cannot be said, whatever happen to Istanbul,” Topbaş highlighted, “through our local management vision and experiences we unveil our projects directed towards every districts.” Two different metro lines for Tuzla Stating the first line would link Tuzla to Kadiköy-Kartal Metro, Mayor Topbaş said: “This line is connected through İçmeler and Tersane intersection to KadiköyKartal Metro Line. So, accessing to every side of Istanbul via rail system will be provided. Our other metro project will connect Tuzla via Kaynarca to Sabiha Gökçen Airport. We have discussed the issue on this line with Sadi Yazici, mayor of Tuzla that should pass through which neighborhoods by studying. We have brought the issue to a phase, our works are continuing. So, Tuzla will convert to a district that will meet with metro lines without experiencing any ac-

Tuzla livable for four seasons…

cession problem. The wholesale vegetable-fruit market in İçerenköy to be moved to Aydınlı district Reminding coast and green landscape works were continuing in Tuzla, Topbaş announced; “I would not like to mention about the investments of new roads,

brook and environment improvements. First time in Istanbul we are bringing a system to perform light and water show in a sizable dimension in the coast of Tuzla. The projects of this work have been prepared that we consider one of the most important projects. On the other hand, we will

move the wholesale vegetablefruit market which is located in the district of İçerenköy to Aydinli. We have done a work there for a more modern wholesale vegetable-fruit market. This wholesale vegetable-fruit market will be an example for the world. In addition, our project works related to the lake Kamil Abdüş have come to the last stage. There is a recreation area of 2 million sq meters that will happen.” Tuzla Viaport Marina will let Tuzla flight A very important activity center of Istanbul will also come to Tuzla. Such a center that yearly 25 million people will come here. Mostly from Tuzla 2 thousand 500 people will work, Topbaş said. He continued, “Tuzla Viaport Marina is an investment costs worth TL270 million including every kind of activities. Together with its beaches, pools, exhibition areas, meeting salons and walking trails and marina, Tuzla will be attraction hub of Istanbul. In order to see the project having green area of 750 thousand sq meters, people will come through metros from the Asian and European sides. Tourists will also come to accommodate here. Tuzla will be a tourism center to be at the service for four seasons. We will construct an airrailway from metro line to here. So traffic and accession problem will not happen too. The construction has started, on 5 March we will hold promotion meeting.” Nostalgia tramway on coast Kadir Topbaş concluded that they would make a nostalgia tramway alongside the coast of Tuzla, having its examples in Europe, adding that the project would be a touristic work.

Made in Turkey Economic Newspaper, March 2014

Hayat Kimya eyes leadership role with JOLY

ne of the most fundamental establishments of Turkey, acting in homecare, hygiene and sanitary paper category in fast moving consumer goods sector, Hayat Kimya has entered a brand new category. Hayat Kimya aims the market leadership with the brands JOLY and Evony directed towards medical sales channel in adult diaper category. The press conference of Hayat Kimya was held related to its targets for the future. Prof. Dr. Orhan Idil, member of the Board and Coordinator of Hayat Kimya; Melek Soklangic, Global Marketing Manager of Hayat Kimya in Hygiene Category and Nilay Ozyurt, Medical Marketing Manager of Hayat Kimya attended to the gathering. Prof. Dr. Orhan Idil stated that they have developed the sanitary paper lines for adults through the state-of-the-art technology. Idil continued; “We have capacity utilization of 200 million units in adult diapers, as for mattress protection sheet it is 130 mil-

lion units per annum. In these lines, we realize adult diapers with elastic waistband as the first and single firm in Turkey. With this investment that we have accomplished at our hygiene factory in the province of Izmit, we target to meet the expectations of our consumers and to achieve the market leadership in this field.” In her speech, highlighting they had accomplished exports to 34 countries together with JOLY and Evony brands, Melek Soklangic said; “We aim to reach 50 countries with JOLY adult diapers in 2014 and to be a global brand. Especially, in North and East European countries are the most important market for us due to existence of elderly population. The category that we have entered requires acting together with our consumers and understanding their expectations in the best way. As establishment, our mission is to let society to get consciousness and awareness. Acting through this point, we have distributed the number of some 1,5 million samples

to pharmacies and doctors to date. We are increasingly strengthening in both medical points of sale and markets. This year our market share is 15 percent and in a short time we aim the market leadership rising by 35 percent.” First and only adult diapers with elastic waistband: JOLY Hayat Kimya Marketing Manager Nilay Ozyurt said, “In Turkey, there are nearly 5 million people who experience incontinency and this figure would double by 2050, accounting for 10 percent of the total population. Currently use rate is very low, only 5 percent. Some people hide their incontinency problem; even they do not go to doctor. Lots of people do not know that existence of the single use products in the market. Our mission is to let people to get awareness to allow them to live in self-confidence offering the highest quality products which had not been made up until now. JOLY, the adult diapers with elastic waistband were approved by the German Dermatest Organization besides featuring the most absorbent product of the market. According to the independent consumer survey, 92 percent of consumers liked JOLY more.” Ozyurt noted that there are absorbent underpants; woman & man urinary bladders and mattress protector sheets take place under JOLY product gamut. JOLY in repayment coverage of SSO Ozyurt continued, “JOLY is in repayment coverage of the Social Security Organization. Daily 4 units adult sanitary papers are repaid by the SSO. We also emphasize this matter on the packaging.” Hayat Kimya General Coor-

dinator and member of the Board Prof. Dr. Orhan Idil said, “As Hayat Kimya, at our factory in Izmit we produce in three main categories as homecare, hygiene and sanitary papers. We also maintain our activities in the area of homecare and hygiene products in Algeria, in Egypt in hygiene, In Iran in hygiene and sanitary paper categories. Exporting to 101 countries in the 5 continents, we let our brands meet with consumers ranging from Madagascar to Seychelles, from Zanzibar to Costa Rica.” He also noted the company got turnover of $1 billion in 2013 with 21 percent growth, adding that in 2014 they foresee 30 percent growth. Advancing with safe steps in the global market, the establishment had achieved exports worth $127 million. Stating that their most exporting markets were Ukraine, Iraq, Azerbaijan, Russia and Moldova, Idil said they had entered a new country, Saudi Arabia in 2014, along with this market they would aim 50 percent growth in exports. Hayat Kimya offers the Papia, Familia, Focus and Teno brands in the tissue category, the Bingo brand in the homecare category, the Molped brand in the sanitary pads category, the Molfix brand in the baby diapers category, and the Joly and Evony brands in the adult diapers category.

A special collection from Sadekar: “SUFI”

he jewelry design site www.sadekar.com.tr - which takes its name from “Sadekar” (Lapidary) means “a person who produces the parts of precious metals together with or without stones, gold, platinum - offers its new collection to the admiration of jewelry fans. The collection called ‘Sufi’ composed of 21 parts including dominantly sapphire, brilliant and white gold. Having designed by Dilek Donmez Agyer, the owner of the brand and having revealed by the handicraft designs that meet with the most special figures, 18 carat gold and precious stones from the workshop of Murat Keskin a master of sadekar for 35 years. It is possible to get detail information about special design and collection products via www. sadekar.com.tr. For those who would like to be stylish, distinctive and special, the online design store ‘www.sadekar.com.tr’ - which prepares special handicraft jewelries - is present for jewelry fans. Brilliant, sapphire and white gold is debuted in the special collection called ‘Sufi’ having 21 parts. The most special figures, which symbolize love, meet with 18 carat gold and precious stones in the artworks which are designed by Dilek Donmez Agyer, the owner of the brand and made at the workshop of Murat Keskin who has been a master of Sadekar for 35 years. All handicraft and being revealed at the end of fastidious labor-force, the jewelries dazzle due to their distinctive designs. Stating that they have given importance to follow a moderate price policy, Dilek Donmez Agyer said, “Our products, which are made of handiwork, feature quite high in handicraft quality. If it is necessary to state technically, the color of our brilliant is H, brightness is VS1. Our aim is to offer the best and most special products to jewelry fans.” For more information about collection and order of the products, you can enter www.sadekar.com.tr. In addition, sadekar products are also offered for sales Midnight Express Bebek store and its Cihangir Yoga Istinye branch.

Unchanged choice of talented ladies in dishes Holding a launching organization, Pril has introduced its renewed formula with Açelya Akkoyun, the new brand face.

t Pril launching, Açelya Akkoyun disclosed sincere statements; “I cook my meal, wash my dishes”. Stating that she was very talented in house works, Açelya Akkoyun said; “Really, I’m diligent. As I cook my meal, also I wash my dishes. I have special teacups of which edges are made of silver. I can cook every kind of meals. I cook even sushi. The meal which I like to cook mostly is the dried stuffed vegetable meal.” “Works made in kitchen are attractive for me every time. Especially, making

meal for my girl makes me very happy. My spouse and also I like much to cook meal together. Hosting our friends at banquet is our indispensables. Of course, setting of table with clean glittery cups and plates is a very important issue; I’m very fastidious and careful person. Even a smallest spot makes me uneasy, for this reason I take care of the products that I have been using for years and Pril is indispensable dishwashing liquid for me.” “I do not want to leave ladyship at home to someone” Stating that there is a wrong perception for the famous women who do not act in housework, Akkoyunlu said, “There is my assistant at home for years. We as the working women take help at home. But I do not think to leave ladyship at home to other one. Making coffee at home for my husband makes me happy. Making meal at home is rehabilitation for me, I relax. I know making stuffed vegetable after

coming from work to home.” Pril has chosen Açelya Akkoyunlu as its new brand face. Featuring a diligent house wife as well as full of love and a successful actress has played an efficient role in preferring Açelya Akkoyunlu for the brand.

Tekin Seyrekoglu debuts Spring – Summer Collection

ekin Seyrekoglu has prepared the new collection with synthesis of design and finearts that address to the distinguished pleasures. In color choosing inspiring from nature which refresh together with spring, the designs dazzle with glistering stones and elegant details. The set, which composed of earring and rings takes place in Spring-Summer 2014 Collection, d i s plays all subtleties of jewelry design. The ring, which is prepared with the showy opal pink stone on the edge with 0.59 carat brilliant and green sapphire, attracts the fans of jewelry. As for earring design, of which bow-tie draws attention,

is prepared by 2.41 carat brilliant and embellished with pink quartz and aquamarine stones on the edges.

Solar powered cars tested in University Campus

ZMIR - Turkey’s first domestic solar panel powers up electric cars were designed by college students in Izmir. Dokuz Eylul University, in cooperation with Izmir Development Agency, is producing the base of the solar energy systems that is silicon-based photovoltaic cells on campus. Underlining that Turkey has been importing almost all of the important parts of the solar panels, the project`s coordinator, Prof. Dr. Erdal Celik added that the world has been increas-

ingly focusing more on renewable energy investments. “We wish to show people how solar energy can be used and transform our daily routines, thus far, this technology was imported but now we are capable of producing domestic solar cells,” Celik said. So far one electric car is being power by this solar system on campus and by June, two more electric cars and a boat will be prepared. The first application of these vehicles will be conducted in Dokuz Eylul University`s cam-

pus. Upon the completion of the project, Celik said that officials and industrialists will be invited to the campus in order to demonstrate the project with the aim of making the project commercially viable in the near future. Currently USA, Japan, China, Germany, South Korea are the main producers of photovoltaic technologies. Globally around 0.41 percent of energy is produced by solar systems, and as the importance of green energy rises, it is expected to rise exponentially.

Made in Turkey Economic Newspaper, March 2014

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he largest gathering of the world mary school and under 20 percent go to leaders had convened for the secondary school. Millennium Development Goals’ A total of 114 million children and 584 in 2000 concurrently with the beginmillion women are illiterate. ning of the new millennium as the iniIn order to solve this humanitarian tiative in the guidance of the United Nabasic troubles a range of conferences tions 14 years ago. organized at Rio+20 that held in June The initiative called ‘Millennium Devel2012. opment Goals’ (MDGs), including eight The aim of the goals is to promote inbasic problems of human beings who tegration, coherence of policies and the encounter across the world. implementation of actions in the areas Especially poverty and hunger were of social, economic and environment. waiting urgent solution. Despite the participant governments Since 2000 when the initiative was espromised strong political commitment tablished to date, an outstanding adto sustainable development, but there vancement has not been recorded in is no sincere approach to solve the solving the humanitarian vital trouproblems of human beings. bles. Neither international community nor From now on there is approximately the United Nations take decisive step to one year to be successful. make up suitable situaSince the beginning to tion to solve the aimed date the initiative could problems. not advance in the reSustainable developmarkable rate. ment indicators and In order to solve the basic composite indicators humanitarian problems are considered to be a the international commitgood vehicle in helping tee and the United Nation to measure sustainable must be able to prepare development and progenough situation to overress in the SDGs. come the problem entireSustainable developly… ment goals expected Ibrahim Kupeli Instead, a new initiative to be able to assist in ikupeli@img.com.tr has been formed that called focusing the broad interSustainable Development national sustainable deGoals (SDGs) or post-2015 Development velopment agenda at a practical level. Goals... They could serve as a tool for countries When looked at the basic humanitarto measure their progress as well as ian troubles across the world there are further cooperation between countries. nearly one billion people suffer from The purpose of the SDGs also constihunger and malnutrition. tutes a base for the green economy in One billion people cannot access to the the context of sustainable development safe drinking water, as well as two and and poverty eradication, as well as the a half billion experience lack of sanitainstitutional framework for sustaintion facilities. able development. More than one billion people in the For example combating poverty, world live on less than one dollar a day. changing consumption patterns, proIn total 2,7 billion struggle to survive moting sustainable human settlement on less than two dollars per day. development, biodiversity and forests, Some people mostly women and girls oceans, water resources, advancing walk more than one mile every day to food security and energy especially collect water and firewood. from renewable sources are the basic Every year eleven million children die, issues of SDGs. mostly under the age of five and more When the steps are taken to achieve than six million preventable cause like these matters meanwhile a significant malaria, diarrhea and pneumonia. step might be taken for the green econIn some deeply impoverished nations omy. Now the hope of poor communiless than half of the children are in prities has been linked to the initiative.

Humor

THOUGHT OF THE MONTH

It is a thousand times better to have common sense without education than to have education without common sense.

ow To Identify Where A Driver Is From · One hand on wheel, one hand on horn: Chicago · One hand on wheel, one finger out window: New York · One hand on wheel, one hand on newspaper, foot solidly on accelerator: Boston · One hand on wheel, cradling cell phone, brick on accelerator: California. With gun in lap: Riverside · Both hands on wheel, eyes shut, both feet on brake, quivering in terror: Ohio, but driving in California. · Both hands in air, gesturing, both feet on accelerator, head turned to talk to someone in back seat: Italy · One hand on latte, one knee on wheel, cradling cell phone, foot on brake, mind on game: Seattle

***************************** The Dictionary: what hi-tech salespeople say and what they mean by it New: Different color from previous design. All new: Parts not interchangeable with previous design. Unmatched: Almost as good as the competition. Designed simplicity: Manufacturer’s cost cut to the bone. Foolproof operation: No provision for adjustments. Advanced design: The advertising agency doesn’t understand it. Field-tested: Manufacturer lacks test equipment.

High accuracy: Unit on which all parts fit. Direct sales only: Factory had big argument with distributor. Years of development: We finally got one that works. Revolutionary: It’s different from our competitiors. Breakthrough: We finally figured out a way to sell it. Improved: Didn’t work the first time. Futuristic: No other reason why it looks the way it does. Distinctive: A different shape and color than the others. Re-designed: Previous faults corrected, we hope. Hand-crafted: Assembly machines operated without gloves on. Performance proven: Will operate through the warranty period. Meets all standards: Ours, not yours. Broadcast quality: Gives a picture and produces noise. High reliability: We made it work long enough to ship it. New generation: Old design failed, maybe this one will work. MIL-SPEC components: We got a good deal at a government auction. Customer service across the country: You can return it from most airports. Unprecedented performance: Nothing we ever had before worked this way. Built to precision tolerances: We finally got it to fit together. Microprocessor controlled: Does things we can’t explain.

THE ECONOMIST What is the major difference between change and progress?

Well!

Change is inevitable but progress is optional

Czech energy giant eyes Turkish market

NKARA - Czech energy giant, Energeticka Holding, is eyeing the Turkish energy market for possible investments in electricity and energy production from coal and waste materials, according to Turkish energy regulatory authority (EMRA). The company’s top management, including Mirek Topolanek, former President of European Council and President of Czech Republic, discussed the structure of the Turkish energy market and opportunities with the head of Turkish energy market regulatory authority, Mustafa Yildiz.

The Czech conglomerate mines 20 million tons of coal, produces 37 billion kWh electricity, delivers 57 billion cubic meters of natural gas and stores 3.5 billion cubic meters of natural gas a year. The company has a key role in distributing Russian natural gas to Europe, and has operations with 40 companies in Germany, Czech Republic, Slovakia and Poland. The company wishes to invest in all areas of electricity production and distribution including natural gas activities. The company plans to have operations in electricity production out of coal and waste materials and is inter-

ested in privatization opportunities in energy sector. “Turkish energy market offers great opportunities to foreign investors,” said Yildiz, adding that “in order to give right investment decisions, companies should obtain the right information about the Turkish market from unbiased sources within Turkey, not from one-sided outside sources.” The company officials said that Turkey has a great potential in field of energy production from the coal and waste materials while Turkey heavily depends on energy imports for its evergrowing and energy-hungry economy.

Europe’s GDP in fourth quarter of 2013 rises

NKARA - Increased Gross Domestic Product (GDP) became firmer in Euro Areas (EA17countries) and in EU28 countries during the fourth quarter of 2013, according to second estimates published by Eurostat. The GDP rose by 0.3 percent in the Euro area (EA17-countries) and by 0.4 percent in the

EU28 during the fourth quarter of 2013, compared with the previous quarter. During the third quarter, GDP increased by 0.1 percent in the Euro area and 0.3 percent in EU28. The seasonally adjusted GDP rose by 0.5 percent in the Euro area while increasing by 1.1 percent in the EU28 in the fourth quarter of 2013 com-

pared with the same quarter of the previous year. In comparison, the GDP of U.S. grew by 0.8 percent compared with the previous quarter while it rose 2.7 percent compared with the same quarter of the previous year. Over the whole year in 2013, the GDP fell by 0.5 percent in the Euro area and rose by 0.1 percent in the EU28.

Murat Ülker tops mogul list in Turkey Continued From Page 1 rman Ilıcak, founder of construction company Rönesans, came fourth in the list with $2.8 billion. Semahat Arsel from Koç Holding was fifth in the list with $2.2 billion,

while Doğuş Holding CEO Ferit Şahenk and Koç Holding Honorary President Rahmi Koç tied for sixth with $2.1 billion. The top 10 were rounded out by Suna Kıraç, Filiz Şahenk and Sinan Tara. Doğan Holding’s honor-

ary chairman Aydın Doğan was ranked 22nd, with a fortune of $1.1 billion. The figures demonstrate a decline in the total wealth of the 100 richest people in Turkey from $117.8 billion in 2013, to $92.8 billion in 2014.

Made in Turkey Economic Newspaper, March 2014

IMF Managing Director Lagarde proposes a new multilateralism Continued from Page 1 n addition, Lagarde said that the “new multilateralism” would demand a stronger sense of global responsibility if major issues such as climate change and inequality are to be tackled effectively. “The kind of 21st century cooperation that I am th in k ing of will n o t

come e a s y ,” she said. “It might even get harder as time passes, when the curtains fall on this crisis and when complacency sets in— even as the seeds of the next crisis perhaps are being planted.” Lagarde noted that there are already specific, working, forms of cooperation at hand, citing the UN, the World Bank, the World Trade Organization, and the IMF. These institutions might be termed concrete— or “hard”—forms of

global governance, Lagarde said. There are also a number of “soft” instruments that include such groupings as the G20 as well as networks of nongovernmental organizations. Lagarde said that these “hard” and “soft” forms of cooperation can comple-

m e n t each other: “The new multilateralism must be made more inclusive—encompassing not only the emerging powers across the globe, but also the expanding networks and coalitions that are now deeply embedded in the global economy. The new multilateralism must have the capacity to listen and respond to these new voices.” Getting beyond the

current crisis The immediate priority for growth, Lagarde said, is to get beyond the financial crisis, which began six years ago and is not yet over. “This requires a sustained and coordinated effort to deal with problems that still linger—a legacy of high private and public debt, weak banking systems, and structural impediments to competitiveness and growth—which have left us with unacceptably high levels of unemployment.” Lagarde also warned that financial integration can make crises more frequent and more damaging, and instant and wide communication can sow discord and confusion. “Because of this, the global economy can become even more prone to instability.” Lagarde emphasized that strengthened international cooperation is key to managing these risks. Longer-term impediments to global stability Lagarde set the current crisis in the context of major longterm challenges facing the world in the com-

IMF Managing Director Christine Lagarde

Trans-Anatolia Gas Pipeline to produce jobs and new opportunities

Turkish Energy Minister Taner Yıldız

Continued from Page 1 zeri energy giant Socar currently has an 80 percent interest and Turkey the remaining 20 percent, but British Petroleum (BP), one of the partners of the Shah Deniz II field, had also said it will buy 12 percent of shares from Socar. Yıldız said Turkey was currently in touch with BP over the issue. Turkey’s vision of becoming a gas trading hub is reported to be realistic given its diversity of supply but it would need to speed up market reform and invest more in gas infrastructure, an Oxford University study underlined. According to the analysts, Turkey has long wanted to have a major power and gas market,

capitalizing on growing domestic demand for gas and its proximity to cheap natural gas resources. It should be noted that Turkey has few natural resources of its own, but is at the centre of nearly all gas pipelines that would link Central Asia to Europe, defining the regional market for decades to come. Turkey’s increasing presence in energy markets would also add to its growing influence as a major economic and political player between Central Asia, the Middle East and the European Union. According to Turkish state pipeline company, BOTAS, Turkish natural gas demand is estimated to grow to 81 billion cubic meters (bcm) a year by 2030 from the current 47 bcm/yr.

It could achieve trade up to 100 bcm of gas a year when largescale investments in gas infrastructure have taken place, such as new liquefied natural (LNG) gas and storage facilities, underlined in the study by the Oxford Institute for Energy Studies. Turkey could either become a physical gas trading hub with import and export pipelines, connected to other hubs via interconnectors, or a commercial hub with bilateral and broker-based trading. It is predicted that an exchange market would provide a predictable pricing mechanism for banks and financial institutions. This would help to build confidence among foreign energy investors,

Turkey aims to reach record high tourism figure in 2013 Continued from Page 1 e asserted that the Turkish government invested 13 billion Turkish Liras in Antalya within the last 11 years. “We simply rebuilt Antalya with new schools, universities, dormitories, sports complexes, roads and houses. We will keep on with further projects to promote Antalya as a world brand,” said Erdoğan. Despite the bottleneck, which even world economies such as EU countries, the U.S. and Japan are going through, Erdogan said Turkey is proceeding on its way as it breaks records in series. Turkey’s tourism income increased to $11.5 billion in the third quarter of this year, a rise of 4.7 percent from the same period of the previous year, the Turkish Statistics Agency (TÜİK) revealed. While 79.6 percent of the income was obtained from foreign visitors, 20.4 percent came from Turkish citizens resident abroad. The average expenditure per visitor was $721 in the quarter. While the average expenditure of foreigners was $667 per capita, the average expenditure of Turkish citizens resident abroad was $1,001 per capita. Tourism expenditure increased by 15.4 percent from the third quarter of 2012. The number of Turkish citizens traveling abroad increased by 49.9 percent from the same quarter of the previous year, reaching around 2 million. Average expenditure for these trips was $592 per capita. The Syrian civil war has led to a remarkable increase in the number of Syrians coming to Turkey. However, most of these arrivals and departures

H ing decades: • Demographics, both the challenge of aging populations in the advanced economies, and the “youth bulge” in many emerging and developing countries. Almost three billion people—half the global population—are under 25. A great deal depends on generating enough growth and jobs to satisfy the aspirations of this rising generation. • Environmental degradation, as more people with more prosperity stretch natural resources to the limit. Phasing out energy subsidies that mostly benefit the relatively affluent and not the poor must be part of the solution. Reducing these subsidies and properly taxing energy use can

who are needed to raise $100 billion of energy investment by 2023. As known,Trans Anatolia Natural Gas Pipeline (TANAP) Project intends for the transportation of the natural gas to be produced in Shah Deniz 2 field and other fields of Azerbaijan (and other possible neighboring countries) through Turkey to Europe. Memorandum of Understanding was signed between the governments of Turkey and Azerbaijan on December 24, 2011 in Ankara. The companies appointed upon a joint consortium dedicatedly constituted for this project by both countries comprise of State Oil Company of Azerbaijan (SOCAR), and Petroleum Pipeline Corporation of Turkey (BOTAS) and/ or Turkish Petroleum Corporation (TPAO). Trans Anatolia Natural Gas Pipeline (TANAP) Project is planned to begin from GeorgiaTurkey border and go through the provincial borders of Ardahan, Kars, Erzurum, Bayburt, Gümüşhane, Erzincan, Sivas, Yozgat, Kırıkkale, Ankara, Eskişehir, Bilecik, Kütahya, Bursa, Balıkesir, Çanakkale, Tekirdağ, Edirne, respectively.

be “a win-win prospect for people--and for the planet.” • Income inequality, as skewed income distribution harms the pace and sustainability of growth over the longer term. Fiscal systems can help to reduce inequality through careful design of tax and spending policies. Lagarde said the risk is of a world that is more integrated—economically, financially, and technologically—but more fragmented in terms of power, influence, and decisionmaking. “This can lead to more indecision, impasse, and insecurity— and it requires new solutions.” Strengthened cooperation—a new multilateralism—is key to these solutions, she said.

are not for tourism purposes, the TÜİK said. The agency uses the border figures of the General Directorate of Security in the context of the studies on tourism statistics. As these figures include all kinds of arrivals and departures, it was decided that starting from the third quarter of 2013, calculations should be made by removing the departures of Syrians from some southeastern border gates from the figures of the General Directorate of Security. Turkey eyes 50m foreign tourists for 2023 Turkish government aims to attract at least 50 million tourists annually for 2023, the centennial of the founding of modern Turkey, said country`s European Union minister and chief negotiator for accession talks. Mevlut Cavusoglu said Turkey had welcomed around 35 million foreign tourists in 2013, during an international travel fair taking place in Berlin, Germany. The Turkish minister also said a readmission agreement signed in December 2013 by Turkey and the EU, which is expected to allow Turkish people visa-free travel in the Schengen area -- a grouping of 26 European countries that allows citizens to cross shared borders without internal checks -- will bear positive results in the future. According to the agreement, the European Union will send back to Turkey migrants who entered the 28-nation bloc illegally via the EU-hopeful country. Turkey became the world`s sixth most popular tourist destination in 2013, according to the Office of the Turkish Culture and Tourism Information Attaché in New York City.

Made in Turkey Economic Newspaper, March 2014

The first aircraft seat designed and built in Turkey takes off Developed and built by a partnership between Turkish Airlines, Turkish Technic Inc. and Assan Hanil, Turkish Seats Industries (TSI) debuts the first locally produced airline seat as it enters passenger service.

urkey’s flagship carrier, Turkish Airlines, continues to innovate and find new ways to delight its passengers. As the nation’s global brand ambassador, Turkish Airlines further strengthens its position as one of the world’s largest and most recognized airlines with a globe-spanning network that benefits from Istanbul’s unique geographic location. Having already won numerous awards for its service and attention to detail, the airline continues to pursue its goal of being acknowledged as the “World’s Best Airline”. Turkish Airlines has now partnered in a major initiative to pioneer another first in Turkish Civil Aviation. In line with the objective of ‘one hundred percent Turkish aircraft production’ envisioned for the airline’s centennial in 2023, Turkish Airlines, Turkish Technic and Assan Hanil, have partnered to create Turkish Seat Industries (TSI), a five million dollar project to design and build the first locally produced airline seat. The first aircraft equipped with the new seats is a Turkish Airlines B737-800 and it was unveiled at a presentation hosted by Turkish Airlines at Atatürk Airport’s Hangar No. 2. In attendance were the Minister of Finance Mehmet Simsek, Turkish Airlines Chairman Hamdi Topçu, Turkish Airlines General Manager Assoc. Dr. Temel Kotil, TSI Chairman Assoc. Dr. Ismail Demir, TSI General Manager Fahri Bayır, Kibar Holding Chairman Ali Kibar and Assan Hanil General Manager Okan Gedik. “TSI’s basic vision is to deliver the best solutions in terms of comfort, aesthetics, safety and logistics in the aircraft passenger seat industry. This partnership has now produced its first result. It is a great honor for us to present to you today the first aircraft outfitted with the new seats”, said Turkish Airlines Chairman Hamdi Topçu.

With the design concept begun in September 2011 at its Izmit facility, the company carried out the entire aircraft seat design and development process in Turkey, including automation and software. As a result of approximately three years of meticulous studies, TSI began mass production of the initial aircraft seat model designed to bring new levels of passenger comfort. The seats will initially be used on the airline’s B737800s, and then be installed on the Airbus single-aisle fleet of A319s, A320s and A321s. The initial annual production rate of 10 thousand units will increase to 50 thousand by 2024. TSI’s General Manager Fahri Bayır stated that the locally produced aircraft seats are attracting wide attention with their slim, lightweight design that combines high quality with the guarantee of fast delivery. In the first stage the company will refurbish Turkish Airlines’ existing aircraft, but then aims in the near future to being factory installation of the seats on aircraft prior to delivery as a result of negotiations with both Boeing and Airbus. With this agreement, the seats will be shipped to the world’s leading aircraft manufacturers and the company will see its global market share increase to 10 percent by 2024.

Yalcin Kiroglu, stating that very crucial developments have been experienced in unlicensed renewable energy generation, all the dynamics of society would get benefit from this. Stressing that everyone who wants generate their own energy has reached opportunity in Turkey with regard to the new regulations, Kiroglu said; “Any fellow can sell its own energy with 13.3 cent by installing rooftop solar panels or at any place.” Yalcin Kiroglu said electric generation up to 1 megawatt (MW) is not subjected to license, so this offers an investment opportunity to small investors. He continued; “If families want to leave a planted tree to their children, they

should invest in solar and wind energy. Excluding the first investment, they can almost gain zero business management cost. However, there is a problem to overcome. In water heating via solar energy, we rank second after China in the world. One of the most important reasons of this, while installing rooftop solar power, it does not require permitting from any authority. If the bureaucracy will be lighted, the ways to be opened to generate solar energy, an outstanding advantage would be gotten in terms of the energy imports which constitute the biggest current account deficit.” Yalcin Kiroglu highlighted that Germany generates 32 thousand MW of power

that has 900 hours of sunshine duration per annum, as for Turkey which has 2 thousand sunny hours per annum does not take place even on the list. “In the next 10 years, in order to be able to generate enough energy, it requires investing worth $118 billion. We foresee that 10 percent of this investment will be accomplished as wind and solar energy in unlicensed electricity generation. Therefore a new and a huge market are in question for Turkey. Remarkable investments in the solar energy generation have been entered into force. Next year, over 400 MW solar power can be generated and half of them can be exported. So, an export income can be gained worth $250 million.”

Europe’s energy markets anxious over Russia-Ukraine tension Continued From Page 1 “Germany, as Europe’s economic locomotive, strikes a reconciliatory tone with Russia to prevent any problems with energy supply,” Casin said. However, he points out that the G-8 countries have decided to suspend their participation in Sochi 2014 summit planned for June. Nonetheless, Casin adds that “Russia would not leave Europe absent of natural gas, unless something extraordi-

nary happens.” Gokhan Yardim, the manager of a Turkey-based gas marketing firm and the former head of the country`s state-run oil pipeline company, also stated that if the natural gas that Turkey imports from Russia via Ukraine stops flowing, the industrial sector of Turkey, particularly electricity production, would face difficulties. This is because half of Turkey`s electricity production comes from natural gas

and Turkey`s industrial sector uses nearly 40 percent of all the natural gas that Turkey imports. Turkey imports 14 billion cubic meters of natural gas with West Line pipeline from Russia, which transits through Ukraine. The regarding amount constitutes about 28 percent of total natural gas import of Turkey. “Turkey could increase its liquefied natural gas (LNG) import to ease the difficulties faced in a potential deduc-

“Turkey has a bright future” Continued From Page 16 e also added the costs would reduce along with the discovery of shale gas and cheap energy. Hisarciklioglu said shale gas reservoirs would be available in the regions of South Eastern and Thrace in Turkey, adding that Turkey should be in the new order and market. Erkan Gural, Chairman of The Young Businessmen Confederation of Turkey (TUGIK), said Turkey’s dynamism in the foreign policy and new vision has made them exciting. He said they had exerted intensive effort as TUGIK to find new markets for enterprises. “Our aim is a wealthy and happy Turkey for this, democracy is a must,” he added. Briefing about activities of TUGIK, Gural said that they had initiated a new project to increase the number of woman enterprise and provide participation of girls staying at home in employment. “After blue and white collars, we are going to add pink-collar to the business literature. The project will start in provinces and towns and will boost the number of women enterprisers,” he recorded.

Unique Automation TSI uses an automated production system, which is the world’s fastest, and employs a zero fault principle and technology. Similarly, installation of the aircraft seat includes a complex technical infrastructure which is also monitored using advanced technologies. The computer automation enables the manufacturing of products with zero defects. Unique in the world with the implementation of this automation system, Turkish Seats Industries aims to be well ahead of its rivals in terms of production rates.

Solar power to reduce foreign oil dependency Continued From Page 1 t the opening speech of the gathering, GYIAD Chairman Burcu Akdari Toprak pointing out to minimize the energy import dependency and said every kind of source should be used as active. She highlighted use of domestic increase of solar and wind power plants would contribute positively to decrease current account deficit stemming from energy imports worth $60 billion per annum. Allowing both consumers and entrepreneurs to this area requires every kind of support; Toprak said using of domestic energy sources will strengthen Turkey’s economic freedom. In his presentation, LI-DER Chairman

Turkish Minister of Finance Mehmet Simsek

tion in the West Line,” Yardim said, adding that “however, Europe would also do the same thing, which would increase the LNG price globally, which would eventually have negative effects on Turkey’s current deficit.” Countries like Bulgaria, Estonia, Finland, Latvia, Lithuania and Sweden import all of its consumed natural gas from Russia. The dependence rates (%) of the other European countries to Russian gas are as follows;

Turkish aviation exceeds 150 million passengers in 2013 Continued From Page 1 ost of the growth was driven by the domestic passenger traffic across the country that has jumped 17.6 percent to 76.1 million, Elvan said. “While the number of passengers flying on domestic lines was 8 million in 2002, the number of domestic passengers exceeds Turkey’s population, which is around 76 million,” he stated. “This situation shows people from every section of the country can use airlines.” Elvan also noted the number of international flight passengers approached 73.4 million last year, surging by 11.8 percent from 2012. Istanbul Yeşilköy Airport, which is located on the European side of the city, also kept its top place as the busiest airport with 17.2 million domestic and 34 million international flight passengers, marking 12 and 14 percent increases, respectively. On the internal flight basis, Istanbul’s second airport located on the Asian side, ranked second with a 23 percent rise to 11.9 million, while Ankara Esenboğa Airport followed them with 9 million passengers, despite a 22 percent jump on an annual basis.

Made in Turkey Economic Newspaper, March 2014

“Our fear not current account deficit” “Turkey’s economy is advancing in the targets of an irreversible way that set for 2023, adding that their fear is not current account deficit”, Turkish Economy Minister Nihat Zeybekci Continued From Page 1 s a Minister of Economy seeing these scenes is the biggest happiness. As Turkey, what we see that we are continuing on our way and will also continue with an unbelievable dynamism. Turkey’s economy is going towards its targets in an irreversible way that set for 2023. Turkey has discovered how to achieve this. This will be fulfilled via hand of special investment. You will make these targets. Another topic is that Turkey will not make this by itself. It will manage this process by activating all dynamics in its respective geography along with the world capital.” At the meeting taking proposals and opinions of the industrialists in the region, over the suggestion to make taxi production in Manisa, Zeybekci said he found constructive attitude to manufacture taxies for the entire Turkey in a single type, adding that a market of 400 thousand units is a good beginning for such indigenous made

vehicle. At the gathering, Mustafa Zaim, Deputy Chairman of Automotive Supplier Industry Association, said that they had shown a great effort in order to produce an indigenous car brand which is imported to Turkey in high rate, but in this context there is no barrier in front of imports, so a related brand does not approach to production in Turkey. Even the member countries in the customs union have supported their respective indigenous production Zaim continued to say, “There is no such industry which features as a locomotive of the country, and also facing with the unprotected position. We wanted much to bring a brand - which ranks atop in terms of sales in the domestic market - to Turkey. But while this foreign firm has boosted its investments in BRIC countries, it does not invest in our country because of importation are free so much.” Turkey automatically subjects to the free

trade agreements of the EU which signs agreements with third countries, but we cannot possess the same rights, Minister Zeybekci underlined. Pointing out about free trade agreements between the USA and the EU, Zeybekci continued; “When the draft is realized, it is not possible to be able to accept this as Turkey, so we would come to an unsustainable point. We might be exposed to a very big damage. We said this matter officially both to the USA and the EU.” He reminded that currently Turkish automotive sector produces the number of 1,2 million vehicles per annum, over 800 units are exported. “If Turkish automotive industry wants to possess competitive capacity with the world, it requires rising the production figure over 4 million units,” Minister Zeybekci said. Stating that the culture geography in the surrounding of Turkey features to affect the consumption habits,

New fog-vision cameras to help decrease flight delays

Turkish Economy Minister Nihat Zeybekci

Zeybekci said in this scope the targets in automotive sector could be achieved through the Central Asia, Caucasia, Mideast and Balkans. Reminding last year some 400 thousand engines and powertrains were exported, Minister Zeybekci continued; “As the country and technology, we are ready. Turkish automotive industry can be able to manufacture its own automobile in the rate of 100 percent.” About R & D activities, Zeybekci said since 2002 to date, the allocated budget share for R & D has experienced an increase. Zeybekci recorded that they would aim to increase the share of R & D to 3 percent of the

budget and continued; “Rising as figure, it has also boosted as rate. The thing that we will not experience any problem is that current account deficit. Well it is a problem, important but sustainable, achievable. We are not concerned about current account deficit. We are not afraid of current account deficit; our concern is lack of R & D, patent, brand, innovation. In addition to Turkish central government, we will also provide increase through the private sector for source of R & D. Without letting Turkey to fall into middle-income trap to reach by $25 thousand per capita income, it also requires smart support and incentives.”

NKARA – Turkish scientists have invented new smart infrared cameras capable of seeing through fog, which could help planes to land safely. In the US alone, delays and cancellations from all causes cost passengers $16.7 billion a year; weather accounts for more than 40 percent of all flight delays, according to US Department of Transportation (DOT) statistics. Therefore the price tag for weather-related schedule disruptions is at around $6.7 billion annually, just in the US. Acknowledging fog has a significant part in weather-related schedule disruptions, scientists from Turkey’s three prominent universities, Bilkent, METU and Gazi, have designed the smart infrared cameras which can operate at infrared wavelengths (which cannot be seen by human eyes), effectively resolving the problem of cancelled flights due to dense fogs. New generation cameras, which are capable of clearly seeing up to 15 kilometers even from behind the cockpit glass, have been developed by scientists from universities in Turkey. Dr. Ekmel Ozbay, head of Bilkent

University Nanotechnology Research Center (NANOTAM), said that these ‘smart infrared cameras’ could be used in many areas such as defense, security, health and transport sectors. “Since the cameras we developed can operate behind glass, they could be mounted within a cockpit and they will increase the airworthiness (security of flight) thanks to their capability of seeing the light beacons on the landing field. So airplanes will be able to make safe landing/take off easily.” Ozbay added that this technology could also be used to seek and rescue operations in cases of fires those give thick smoke which block rescue teams to operate. Prof. Dr. Tayfun Akin, head of METU Micro Elektro Mechanic Systems (MEMS) Research and Development Center, said “Contrary to standard infrared cameras, with our cameras vehicle plates can be read at night.” Pointing out that the new cameras would increase the performance of security cameras substantially, Akin said: “Normal infrared detectors cannot identify human face. This technology is able to recognize faces easily.”

Exports boost by 4.3 % in February Continued From Page 1 ollowing these three sectors, the steel sector was ranked with $1 billion 196 million and then electric-electronic and service sector with the exports of $922 million with the rise of 2.3 and 10 percentages respectively. The most export increase accomplished with hazelnut sector in the rate of

37.1 percent and 25 percent in aquaculture and animal product sector, with 19.7 percent in fruit-vegetable sector.

Made in Turkey Economic Newspaper, March 2014

“Turkey has a bright future”

Turkish ceramics firms eye European companies

Turkey’s Minister of Finance Mehmet Simsek said: Turkey’s economic foundations are strong.

urkey had achieved the existing satiation with the education level of 6,5 years on average, now the compulsory education period has raised by 12 years, so the generations are going to have 12 years education period. Thus, the future will be brighter, Minister Simsek recorded. “We have allocated 23 percent of the collected taxes to education. Even this is satisfactory to be optimistic by itself for the future. We are going to close gap in education with the OECD countries within a few years,” Simsek added. Simsek highlighted that serious steps should be taken in R & D and branding, adding that as the govern-

ment they had provided remarkable supports in that issue primarily in tax exemption. Stating that spending of the state for R & D accounted for 0.5 – 0.6 percent of the GDP, Minister Simsek reminded that the EU countries had the similar level; on the contrary the private sector must give importance to this issue more. He noted they would increase the supports if necessary. Recalling that the quality of institutions in Turkey had increased, Minister Simsek said while Turkey had been in the lowest 30 percentage in terms of competition, as of the end of last year Turkey has entered into the highest 30 percentage group in this issue,

noting that it was not enough. Touching the criticisms about Turkish private sector’s debt was high, Simsek said, “66 percent of the Turkish private sector is not indebted to foreign currency, as for 80 percent of the rest ones have receivables due to their exports. For this reason, I do not take into account these criticisms. The balancesheet of state is sound, the dynamism of the private sector is available, and the debt of the private sector will not be a problem.” Reminding Turkey depended on the foreign sources in energy, Minister Simsek highlighted that thanks to the investments made and measurements taken the dependency in energy would reduce more

in the future. Simsek underlined that when the solar energy would enter into force no one could reach us. At the meeting Rifat Hisarciklioglu, Chairman of The Union of Chambers and Commodity Exchange of Turkey (TOBB), marked that the world has been at the beginning of 3 new changes. Together with the gulf crisis in 2008, liquidity has decreased in the world; from now on the shale gas will replace oil and natural gas. Stating that the cost of shale gas was in one third level of natural gas, Hisarciklioglu highlighted that the USA which has the biggest shale gas reservoir has directed towards to be the production center of the world. Page 6

urkish ceramics firms eye to purchase the European companies in Italy and Spain due to experiencing economic crisis. During the global economic crisis, some of the European companies have been urged to selling off some of their stakes or a great part. For this reason, Turkish companies running in the ceramics sector have demanded those stakes too. At a near time a Turkish firm Seramiksan, buying 50 percent of Rondine headquartered in Bologna, has brought the opportunities to purchase Euro-

pean companies. Evaluating the issue, Bahadir Kayan, Deputy Chairman of Earthenware Products Exporters’ Association, said the crisis has constituted an opportunity in the markets such as in Italy and Spain in addition to other regions of Europe. He said that current condition would show the new acquisitions in Europe for the sectors that are ambitious to enlarge their distribution channels. “Turkish firms evaluate the acquisitions taking into account the current conjuncture in line with their strategies of distribution, production and generally on

behalf of services to bring benefit to them,” Bahadir Kayan recorded. Especially, at the beginnings of the 2000s regarding increase which was realized in the capacity utilization, the Turkish ceramics sector has become an outstanding player across the world, Kayan said, adding that last year over $1 billion of exports were achieved by the sector. Kayan reminded mostly exported first three countries which were Germany, the UK and Iraq exports and also the exports to Libya boosted 80 percent. Kayan also highlighted

the A f r ican market had been a striking position for the ceramics sector; in the sub-Saharan region, Nigeria was African country where the most ceramics exported. In terms of trade volume, South Africa in sub-Saharan region ranks atop for the ceramics sector, he also highlighted that “South Africa is a single country in this region where Turkey yields foreign trade deficit.”

Transaction period reduced by 50% at Customs

T Ziya Altunyaldiz, Undersecretary of the Ministry of Customs and Trade

urkish Ministry of Customs and Trade has started a set of works in order to reduce the negative effect of transport which takes place one of the biggest items in the trade cost. Along with the automation implementation, the transaction period in the custom offices has lowered 50 percent; $500 million of saving will be provided per annum by fulfilling customs transaction in place. Ziya Altunyaldiz, Undersecretary of the Ministry of Customs and Trade, announced that the Ministry has a critical role in order to achieve the targets of 2023, adding that they aimed to bring the country one of the countries where the customs and trade transac-

tions are implemented in the easiest and safest way. “When transactions are managed in the easiest and safest way in a country especially in the customs offices the competition power, economic growth and developments get acceleration as well. So, we as the ministry have developed the projects to ease and speed up both trade and border crossing. One of them is the licensed liable project. We offer some easiness to the firms, of which reliability have been approved in the light of certain criterions. Those firms which have this statute can export and import without stopping by the customs office, they are subjected to less customs control. We also maintain our works on some of the new

easiness,” he noted. About common transit regime, he said, “Our transporters encounter less bureaucracy either at the Turkish customs offices or the EU and EFTA countries.” He added that the transporters also save time remarkably in the Common Transport System. The advancement which gained in the automation, Altinyaldiz noted, “We have accessed to automation in the all customs offices. In other words, all imports and exports’ transactions are carried out in the electric condition 100 percent. The customs transaction periods have reduced in a noteworthy way since 2010 to date thanks to automation and our new projects.”