Made In Turkey May 2013

Sustainable growth set for next three years

Turkey’s installed power doubled in the last decade

T

urkey doubled its installed power capacity in the energy sector

T

Turkey’s installed power plant is increasing, while diversifying its

urkey’s Central Bank governor Erdem Basci said that there was a powerful relation be-

In this scope, Turkey has expanded its 31 thousand 845 megawatt installed

At that time, also oil prices were high; regarding as an oil importing country, it would not be Page 6

Within the last ten years, Turkey’s energy power has increased via addiPage 13

ISSN 1300-2260

Turkish Central Bank Governor Erdem Basci

Basci highlighted before Lehman crisis the rate was high and together with crisis the market had made a recovery, a hard slowing happened, as for TL was overvalued at that time

www.img.com.tr

Turkish Economy Minister Zafer Caglayan

Caglayan urges for a fair competition

Z

afer Caglayan met with Eamon Gilmore, Ireland's Deputy Prime Minister, Foreign Affairs and Trade Minis-

May 2013 Year: 12 No: 128

Turkey considered as a growing value by many European countries T

urkish Deputy Prime Minister Ali Babacan said when Turkey started negotiations for EU membership, it was asked when Turkey would be ready but now the question was when the EU would

tunately, Turkey has been facing with the barrier of visa impleFurthermore, Turkey is a member of the Customs Union for 18 years and has taken a crucial distance in the negotiations of the close relation and are not member to the EU, enter the EU withimplementation has no relation with trade, neither with human Page 6

Budget revenues up 21.6 percent in Q1

having the highest voting power and that makes some countries doubtful” noted Babacan adding Turkey

Investment Week”, Babacan met with Federal Reserve Bank Governor and CEO Dennis Lockhart and

said EU was a real big strategic aim for them and they

Babacan said Turkey applied tight policies during the

Meanwhile, Babacan said Turkey and the World Bank had been cooperating in a program involving 20 coun-

reforms Turkey made, the effects of global crisis were

Bank, the countries that need economic reforms will

hard to reach a reconciliation at the Euro zone among

with the results,” he said, adding that the World Bank

that will be signed between the EU and USA, this means an unjust At the meeting with Ireland Deputy Prime Minister, Foreign Affairs and Trade Minister Eamon Gilmore, Turkish Economy Minister Zafer Caglayan highlighted that Turkey had inked the Customs Union agreement with the European Union 18 years ago

was considered as a growing value by many European

Turkish Deputy Prime Minister Ali Babacan

Page 5

Trade to remain subdued in 2013

W

orld trade growth fell to 2.0% in 2012 — down from 5.2% in 2011 — and is expected to remain sluggish in 2013 at around 3.3% as the economic slowdown in Europe continues to suppress global import demand, WTO economists reported on 10 April 2013. “The events of 2012 should serve as a reminder that the structural flaws in economies that were revealed by the economic crisis have not been fully addressed, despite important progress in some areas.

Repairing these fissures needs to be the priority for 2013,” Director-General Pascal Lamy said.

WTO Director-General Pascal Lamy

Agreement for safe food between Turkey and China

The abrupt deceleration of trade in 2012 was attributed to slow growth in developed economies and recurring bouts of uncertainty over the future of the euro. Flagging output and high unemployment in developed countries reduced imports and fed through to a lower pace of export growth in both developed and developing economies. Page 5

Pegasus rises in trading debut on Turkish Food and Agriculture Minister Mehdi Eker Turkish Minister of Finance Mehmet Simsek

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urkey’s budget deficit decelerated by TL897 million in the first quarter of 2013, down 86 percent over the same pecent thanks to the increase in tax revenues and income through

P

trading in Istanbul on speculation expansion by the

page 15

cent to TL94,1 billion, as for the expenditures became TL95 bilThe budget deficit between January-March 2013 became TL897 million, thereby the budget deficit decreased 86 percent in Q1 Tax incomes increased 20 percent to TL77,4 billion in this period, primary surplus also achieved 35 percent recovery to TL14,3 The interest expenditures decreased by TL15,1 billion diminishPage 6

T

urkey’s Food and Agriculture Minister Mehdi Eker visited China along with the representatives of Turkish producers, agro-organizations

Pegasus, whose passenger count advanced 20 percent in

Turkey rediscovering its geothermal energy resources

R

ich in geothermal resources, Turkey increased its drilling activities from 2,000 meters to 28,000 meters; and its utilizable heat capacity to 4,813 MWt by the end of 2012 with an increase by 46 perAccording to Turkey’s Mineral Research and ExploPage 11

Between Turkey and China, an agreement has been inked about safe food, Minister Eker said the visit would provide a great contribution to development of Eker said many of foodstuffs from Turkey to Chinese market could not enter directly, by the outlined agreement, the joint principles have been set in the proceIn the framework of those principles, the inspection to be carried out and via standard union Turkey would be Turkey would sell more prioritized foodstuffs to this region, fresh fruits, vegetables, pistachio nuts, poultry meats, milk and dairy products were the prioritized Page 6

2

Made in Turkey Economic Newspaper, May 2013

Business start-ups in Istanbul rise 17.7 percent Mehmet Soztutan Editor-in-Chief

turkey@ihlas.net.tr

I

STANBUL - The number of business start-ups in Istanbul, Turkey’s main commercial hub, increased

The rising star..

T

urkey’s new incentive system names almost the entire Southeastern and Eastern regions of the country, offer-

The new incentive scheme is designed to prop up local and The updated scheme is aimed at reducing dependency on imported intermediate goods and the country’s current account of the country’s industrial sector and balancing out the differA new feature of the incentive scheme is that provinces, now ranked in terms of social-economic development, will fall inces in the sixth group, mostly consisting of poorer eastern and southeastern provinces, will receive the most investment While prospects for a boom in public debt stocks across the world are on the horizon, Turkey seems remarkably well-positioned in terms of its public debt stock and the ratio of its public debt to its total national income, international credit rating debts of most of the world’s indebted countries are outpacing their national incomes, Turkey is showing an amazing performance in terms of both its public debt stock and the ratio of its ranked among the best countries in terms of its solvency capacity, and the ratio of its foreign debt to its total national income

Turkey has been performing wonderfully since the latest glob-

A total of 18,185 newly-established companies registered with the Istanbul percent over the same period from 2012

When combined, the increase in the percent in the first four months of 2013 preneurial confidence in Turkey’s economy and the continuation of the stability,” Murat Yalcintas, ITO head, said in

A

NKARA - Limak/Cengiz/Kolin/Ma-Pa/Kalyon joint venture group offered the highest struction and 25-year lease of the third Tender for the third airport in Istanbul took place in Ankara’s Esenboga Inter-

R

Speaking at the meeting, National Parks Director General Sabri Kiris described

As the subprime crisis unravelled, both goods and assets trade retreated, or at

transmits

whether the change was a consequence of the crisis, or did actively contribute

rapidly

and

forcefully,

owed to the new Turkish Commercial following a crisis may be protracted, given the solvency problems faced by banks in the major industrialized

as a result of the collapse in economic activity, and international capital can be withdrawn because recessions are a of having channelled the international

N. Struck/ Berlin

M. Peer/ Basel

Fifteen Turkish and two foreign companies received approval for their techniThe company promising to pay the highest rent is Limak/Cengiz/Kolin/Ma-Pa/ Kalyon Consortium, a joint venture of The airport will be constructed under the build-operate-transfer model

Turkey and Spain cooperate against wildlife smuggling IZE - The 5th meeting of wildlife smuggling project co-ordinated by Turkey and Spain within the Convention on International Trade in Endangered Species of Wild Fauna and Flora

Emerging economies are now so closely integrated with advanced

of transmission, according to new

Bid for new Istanbul airport breaks all records

The country is likely to preserve its favorable position over the next decade thanks to its young population, Martin Raiser Raiser also said Turkey was a rising star both regionally and

Letters to the Editor

-”Chinese medicine” is deceivingProject Coordinator Mercedes Nunez Roman drew attention to the so-called

cine and produced out of turtle shell

The European Union will not survive if it fails to overcome a debt crisis plaguing the euro single currency

balance sheets with the result of – perhaps – exporting the crisis to There is overwhelming evidence world

eurozone were in danger from alarm in

to survive with the eurozone, because if we don’t survive with the eurozone we will not survive with the European EU would overcome the crisis, thanks of populism, despite massive protests on the street and knowing they risk

synchronised with the crisis, relative I consider two conventional determinants of business cycle correlations, or particular relevance the intensity of bilateral trade, and a measure of mutual openness to after the crisis, rich countries are synchronised, even more so if they also drives synchronisation up, albeit

M. Gear/ Paris

was put into force within the scope of Turkey’s adaptation process to the Eu-

G. Bruce/ Basel

Some of those deceiving materials captured at Turkish and Spanish customs

Sustainable urban infrastructure to foster economic development

D

eveloping sustainable urban infrastructure benefits not just the environment, but can also boost economic growth and social stability, according to a United Nations report which stresses the need to transition to resource-efficient technologies in cities, given scarce natuization has been accompanied by increased pressure on the environment and growing numbers of urban poor,” said the UN Environtive Director, Achim Steiner, at the launch of the report in Nai-

for cities to lead the greening of the global economy by increasing resource productivity and innovation, while achieving major financial savings and addressing

The report, ‘City-Level Decoupling: Urban Resource Flows and the Governance of Infrastructure Transitions,’ argues that sustainable city infrastructures can sustain economic growth while using Around three-quarters of the world’s natural resources are already consumed in cities, and the proportion of the global population living in urban areas is set to The study says much greater effort is needed to support new and improved infrastructure for water, energy, transport, waste and other sectors – generally located in and around cities – to wean the world

off unsustainable consumption patterns, and avoid serious economic and environmental implicaThe report, which was produced by the UNEP-hosted International case studies around the world that show how sustainable infrastructures have generated scores of green jobs and reduced environFor example, in Melbourne, Australia, carbon emissions dropped by 40 per cent after the introduction of energy efficiency measures in public buildings, while in Cape Town, South Africa, a re-fit of low income housing with solar water heaters and efficient lighting has saved over 6,500 tonnes of carbon per year, cut respiratory illnesses by 75 per cent, and reduced the cost of hot water for poor houseOther efforts involve reducing oil consumption by moving more people and goods onto public transport powered by electricity,

or re-establishing urban farms to The cost of meeting the urban infrastructure requirements of the world’s cities between 2000 and both through the building of new infrastructure or retrofitting exist-

and replace inefficient infrastructure into which they have been locked for decades to achieve decoupling, but newer and expanding cities have the advantage of the first time,” said the Executive

an early transition to systems that consume increasingly cheaper renewable energy sources will pay The report also provides recommendations for city planners to minimize environmental damage and maximize the potential for us-

3

Made in Turkey Economic Newspaper, May 2013

“Kuwaiti people should see Turkey as a center of investments”

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urkish

Finance

Minister

Kuwaiti brothers should see

Simsek met with Kuwaiti Minister of Commerce & Industry Anas al-Khalid al-Salih over a working breakfast held as part of the Turkish-Kuwaiti BusiSimsek later attended the meeting Speaking at the meeting, Simsek un-

agreed to raise their bilateral trade ing at the signature ceremony of the Turkey- Kuwait 9th Term Joint Memorandum of Understanding, MehmetSimsek indicated that the target of a could realize our goal of increasing bilateral trade volume with Kuwait to ministers, we will provide the necessary support needed for this purpose,”

-

sign six agreements with Kuwait on maritime, cooperation between small and medium scale businesses, coopcooperation in education and science, cooperation between free zones and in preservation of environment and natuMinister of Commerce and Industry Anas al-Khalid al-Salih, in his part, said that the meeting they held would promote cooperation between Turkey

Kuwaiti Minister of Commerce and Industry Anas al-Khalid al-Salih said that they would make procedures easier for Turkish businesspeople in tion sector, we wish to see Turkish investors in all sectors of Kuwait,”

While there may be certain obstacles, we will do everything possible to we accomplish this, companies from Turkey would enter Kuwait,” al-Salih

to boost the bilateral trade volume,

peoples of both Turkey and Kuwait,”

on various Turkish sectors, including banking, petro-chemicals, real estate

most favorite holiday destination of

and meetings in both Turkey and Ku-

Turkish Finance Minister Mehmet Simsek on said that Turkey and Kuwait

discussed the legal framework between the two countries and went over

-Kuwaiti commerce minister wants to see Turkey to invest in all sectors-

followed Bourse Istanbul and ranked

BIST and into a holding as well as an umbrella company constituted a revo-

sectors of our two countries must be

I

STANBUL - Bourse Istanbul was ranked the world’s second most

next 25 years of the market, Koksal

Meanwhile, Athens Bourse became

Koksal’s comments came while he was the guest of AA Finance Desk in

Attila Koksal, member of the execu-

The works conducted in the past two years made up the future of the infrastructure of the Turkish capitals mar-

-

According to World Federation of ExExchange ranked the most lucrative -

& President of Association of Capital Market Intermediary Institutions of Turkey, said the transformation of

With Bourse Istanbul, the hybrid structure of the ISE has come to an

around 20-30-40 percent, it would not be possible for a capital market to surcessfully overcame an atmosphere of

Crucial steps have been taken for the

PAGEV sets up third recycling facility

T

urkish Plastics Industry Foun-

continuously has been on the agenda In 2011, some 1,6 million tons plastic will train how to collect wastes sepathird recycling facility of Tur- packaging was offered to the market our importance that we show to the and 625 million tons of that amount cling facility will contribute to reduce economic side of the recycling be- stated that they, as the plastic sector, ute sustainable management of plastic rate of plastic waste, reuse of plastics comes like this, its contribution to the wastes, provide energy saving, prevent environmental pollution and make up The facility aims 50 thousand tons of - value-added for the economy by rerecycling from 100 thousand tons plastion over 8 million tons, we employ tic waste and will make up TL105 mil- second stage, other wastes’ works will over 300 people and our direct exports which set out for recycling of plastic begin such as paper, cardboard, glass will continue covering other materials, If 400 thousand tons plastic would be - sustainable material as much as plastic our training works will also prevail recycled, this means 450 million TL tocols with National Education Direc- that contributes to the economy and across the country beginning in Istangain for the Turkish economy annu-

of high quality terry towelling goods in jacquards, embellished towels, children’s towels, bathrobes and licensed ognized by well-known brand names in

this context, when we started our work, we separate production management I believe that we succeed due to we under the brand contributes to our over-

special value to the quality of our maare an importer, wholesaler or part of a well-known chain, Oguzlar are able to

our team to continuous innovation, our team has got dynamics, hectic and takcontribution of the prestige for the com-

Okan Oguz, Manager of Oguzlar Tekstil, invited visitors to their ZUGO/OGUZ-

Informing about work of branding the believe that retailing is a

of the industry’s most important position with power of the brand and the system never promise an abstract concept or a model but the sales model implemented And we shall adapt and apply them deagents growth performance we man-

F

orming its brand with 40 years ex-

Tekstil manages to be the best and most well known brand in home textiles Central Asia with its Zugo brand and marketing company founded in 2007 in the East after production success in

Always offering innovations and surprises for its customers, the company strengthened its leadership in the region with its wholesale center with a covered area of 2500 square meters in Kazakhstan and more than 17 concept stores

become the best and most well-known

For over the 25 years the name Oguzlar has stood for the production or sale

Zugo continues to grow at 70-80% per year since its inception, 20 pared to the previous year, Oguz said about their expectations of year 2013, stil performanced over growth targets

must for brandi it is possible with retail sales network controlled by a mechanisms other than this purpose, we will continue to go

Referring to the importance of branding and the process of creation of Zugo, ured out brand and the value of brand by producing for many famous brands

textile retail chain where birthplace target markets apart from Kazakhwill gear up our projects in order to

We decided to make our own brand

4

Made in Turkey Economic Newspaper, May 2013

Recovery requires decisively action

T

he foremost challenges of the world such as growth, unemployment, lack of pity, compassion, brutality have been for a long time on the agenda of the Editor:

Ibrahim Kupeli

Advertising Sales Staff:

Advertising Consultants:

Adem Sacin,

Emir OCAL

So, these appalling situation forces those people who face with unsuitable living condition to migrate and displace their own countries as well as leaving their business activities and

in four years after the economy shrank by Unemployment in the eurozone has surged to

Always listen to experts!

to a three-year low, so the European Central

They’ll tell what can’t be done and why. Then do it!

rate to a new record low amid ongoing worries about the e this new rate would be contributor in terms of

W

Across the world, Asian countries’ economies feature brighter than other regions to

concerned parties to be imperceivable, and are so stipulated, it is incumbent upon said heretofore mentioned parties to exercise the deferment of otherwise pertinent

governance repress development in many re-

China’s economy, the second-largest of the world, has slowed and performed worse than

**************** In the USA, everything that is not prohibited

disasters put social and economic achievethese challenges requires successful domestic policy, international cooperation and effective international institu-

34520 Yenibosna - ISTANBUL / TURKEY

LIAISON OFFICES:

Despite slowing down in its economy due to setback in the global exports and trade, Chinese economy is regarded the most robust

These challenges maintain their terrible effects on fragile communities not to access to enough prosperity especially Consequently, focal point of the international organizations which responsible for economy,

Ibrahim Kupeli

Buttim D Blok Kat: 4 No: 1267 BURSA

KONYA: Metin Demir

order to cushion its current situation, Beijing has acknowledged that situation and indicated that it wants to increase domestic demand to reduce its dependence on exports and

world remain as a barrier in accomplishing the MDGs of which deadline will end up 2015…

The global actors envisage that they need to act decisively to look after a sustainable recovery and restore the resilience of the glob-

is promising and downside risks have diminished in the short-run, global macroeconomic stability is not yet restored, unemployment is still high and food prices continue to be unstable and to bear down on the poorest,” the

when writing to advertisers

In Germany, everything that is not permitted In Russia, everything is prohibited, even if

continuance, one to object, one to demur, two to research precedents, one to dictate

In France, everything is permitted, even if In Switzerland, everything that is not

time cards, one to depose, one to write interrogatories, two to settle, one to order a secretary to change the bulb, and twenty-

********************* far-away state to represent a long-term

light bulb?

trial, the case was won, the client acquitted

*********************** light bulb?

stable than it was six months ago, but a numacross the world, it is foreseen an environmentally, socially and economically sustain-

Please mention

failure to prevent the surge that made the

Within this negative conjuncture; the long consolidation, structural reforms and monetary policy, also overcoming institutional and governance challenges, urban settlements and investing in infrastructure and in agricultural

KONYA

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off the ladder, and the third to sue the ladder

electrician who wired the house, and one to

Mustafa Aktas

HEAD OFFICE:

interrupting by standing up and shouting

lawyer writes:

for the US, lower growth is predicted would have a negative impact on the region, particu-

Technical Manager:

Subscription:

hen the man in the street says:

Of course, these unwanted events not only make up bad effects on those people, but also have negative effects on the entire economic activities directly or indirectly across the

Correspondents:

Chief Accountant:

Humor

THOUGHT OF THE MONTH

As for the Eurozone, ailment economy is percators, France has entered its second recession

THE ECONOMIST What’s the difference between

A neurotic knows two and two

OK..

are four -- but he hates it.

a psychotic and neurotic?

As for the assessments of the economics authorities for the global growth in 2013, the economic indicators would be nearly the The wellbeing, peace for current and future generations depend on sustainable achievement in terms of the above mentioned trou-

EASY

SUDOKU

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Made in Turkey Economic Newspaper, May 2013

Turkey considered as a growing value by many European countries Continued From Page 1 eanwhile, Babacan also said the new cash repatriation regulation would only involve asnounced last week that the Finance Ministry was working on a new cash repatriation regulation, in order to draw back

M

that ra

Anka-

adding that public debt and the banking system for most countries – were a strength for Turkey, meaning that the impacts of the latest global crisis on the Turkish economy

Babacan said Turkey had become a center for foreign investors who would like to invest not only in Turkey but also worth of in the broader c i t i z e n s’ neighborTurkish Deputy Prime Minister Ali Babacan m o n e y ish-A mer ica n timing for the cash repa- does not want to be ex- relations were very strong triation code is perfect as in politics and defense but it comes at a time when Speaking during a dinner that the commercial and global tax havens are beeconomic ties were weak, ing phased out, Finance of Commerce, the last stop Meanwhile, Europe said Turkey had been ex- should end visa proceThe Transatlantic Trade periencing a very critical dures for Turkish business and Investment Partnerworld, academicians, artship process currently ists and journalists, said being negotiated between been undertaken by Tur- Turkish economy minister the United States and the key had become a source The fourth meeting of the European Union is a his- of inspiration for the re- Turkey-UK Joint Ecotorical step that is supnomic and Trade Comported by Turkey, Deputy currently the most stable mittee took place in the Prime Minister Ali Baba- currency among develcan has said, while adding oping countries, he said, Turkish Economy Minis-

ter Zafer Caglayan, British Minister of State for Trade and Investments Lord Stephen Green, businesspeople and investors from both countries atSpeaking at the meeting, Zafer Caglayan said that Europe should end visa procedures for Turkish business world, academicians, artists and journal-

aim for the gold medal,” Caglayan called on British business world to increase interest in Turkey if they wanted to become global

will make investments worth 250 billion USD in the next 10 years, Caglay-

connecting Beijing with Caglayan stressed the importance of increasing cooperation between Turkey If we compare Turkey-UK relations to basketball, we need to score three-point The way to three-point our trade and increasing mutual investments, Ca-

in three-fourths of the markets to which Turkey exports products, Turkey became the second country in the world in 2012 with the biggest increase

T

lion by the end of 2012, and the NIIP became minus

at the end of February over According to Turkish Central Bank’s statement, in terms of figures of International Investment Position

Net international investment to the gap between Turkey's assets abroad and liabilities,

VISIT US AT EVTEKS`13

HALL 1 F11

In February 2013, the portfolio investments increased resident Turkish citizens' stock

Trade to remain subdued in 2013

Turkey has a crucial location in transportation,” Lord Green, in his part, emphasized the importance of strategic partnership and mutual investments between the two

large and young market,” Reminding that the UK would begin a new visa procedure for the business world in May, Lord Green implementation, 500 companies from Turkey and the UK would be able to

Continued From Page 1 mproved economic prospects for the United States in 2013 should only partly offset the continued weakness in the European Union, whose economy is expected to remain flat or even contract slightly this year

I

China’s growth should continue to outpace other leading economies, cushioning the slowdown, but exports will still be constrained by weak demand in

the silver medal and now

Turkey’s assets abroad rise in February urkey's assets abroad -

WTO Director-General Pascal Lamy

Furthermore, the non-resident Turkish citizens' foreign exchange deposit accounts with letter of credit at the Central Bank were

The difference between a country's external financial assets and liabilities is the net international investnal debt includes both its government debt and pri-

a near repeat of 2012, with both trade and output expanding slowly, below

reminder that the structural flaws in economies that were revealed by the economic crisis have not been fully addressed, despite important progress needs to be the priority for 2013,” Di-

growth and increasingly binding fiscal constraints have produced uneven results to date, and finding an appropriate mix of policies has proven to of progress that developing economies have made in reducing their reliance

persists, protectionist pressure will build and could eventually become tionism may be greater now than at any time since the start of the crisis, since other polices to restore growth have

into economic nationalism, countries need to refocus their attention on reinTrade can once again be an engine of growth and a source of strength for the global economy rather than a baromus, we only need to find the will,” Mr

strike a balance between short-term

6

Made in Turkey Economic Newspaper, May 2013

Caglayan urges for a fair competition Continued From Page 1 aglayan highlighted that the EU had a structure which breaches free trade in terms of free circulation of the goods, recording Turkish goods have been facing with

C

Assessing the negotiations about Transatlantic Free Trade Agreement between the EU and the USA, Minister Caglayan stressed that the EU is

continuity of the advised decision of a high lev-

managed and following the negotiations, they would be planning to constitute a draft negotiaTurkey and Ireland have important commercial relations and the trade volume constantly rises,

Turkish Central Bank Governor Erdem Basci

Turkish-Irish commercial relations will conwere the second country in the world which

economy reached a respectable position in globTurkish Economy Minister Zafer Caglayan

T

also indicated they had been aware of concerns Making an agreement between Turkey and the USA as synchronized was brought on the agenda in the European Commission, the commission was ready to support Turkey, he under-

As for the guest Deputy Prime Gilmore in his

released that the confidence index

Increases in business activity-sales over the Services confidence index increased in the

business activity-sales expectation over the to the increase in the retail trade confidence index in April compared to the previous

construction sectors in previous month beThe increase in the services confidence index stemmed from the improvements in business situation over the past three months, demand-turnover over the past three months and demand-turnover expec-

The decrease in the construction confidence index stemmed from the decline in the total employment expectation over the next The current overall order books sub-index

T

B

current account deficit, which is regarded a crucial foreign disproportion, decreased from 10 percent of GDP in 2011 to fewer

short term capital influxes? All countries,

Meanwhile, Turkish Central Bank’s reserves

The question is asked, do we stay reckless

Turkish Prime Minister Recep Tayyip Er-

Central Bank’s reserves broke a record and taken measures against short term capital influxes which cause extreme fluctuations in loans and foreign currencies by using more than one politic device and we

Continued From Page 1 e aim to speed up the work in tial to multiply Turkey’s agricul-

W

dustry regarding being able to produce strategic medicines, technologic production in the medical technology, having capability to

During his speech at the reception, Minister

volvement for being represented at every corner of the world and being powerful in all

countries, he had also wanted from the doctors to link the new developments in the med-

the payment reach by TL40 million for the medicine expenditure, as for annually the

we also want health attaches will be assigned

Featuring a prominent health center, from now on patients from Turkey would not come

now on, we want to be a powerful center in the region as an authority in the medicine in-

Minister Muezzinoglu highlighted successes of the Turkish doctors in the USA and other

Turkey young doctors were available to be a

Budget revenues up 21.6 percent in Q1

Continued From Page 1 asci said the reason of TL becomes overvalued from time to time was short term capital influxes and con-

at his speech during an expanded meeting of provincial leaders of the ruling Justice

Agreement for safe food inked between Turkey and China

“We want to be an authority in medicine industry”

ezzinoglu, who visited the International Biotechnology Fair held in Chicago, came together with Turkish doctors and -

“Sustainable growth set for next three years”

recent time they had been in cooperation Following signature ceremony, Minister Eker presented a ceramic plate and Turkish de-

In the inking speech, Zhi Shuping, Chairman of the Chinese Quality Control Administration said Turkey had a very crucial position that connects Europe and Asia to each other, adding Turkey is the locomotive Zhi Shuping underlined that they, as the organization, were the responsible from product safety and quality control in China, in

Turkey’s 45 brands deserve superbrand

Turkish Finance Minister Mehmet Simsek

S

uperbrand is defined the brands offer much more sensitive and physical advantages than other

Superbrand has set out in order to promote how brands are being successful as well as prominence of the brands for the companies and today it is an independent authority position in brand Continued From Page 1 his trend in interest spending is a repercussion of the

Simsek also said problem in cash

have been implementing in our

electric grid distribution to be taken over to the private sector, so some troubles in energy sector to

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gain of Turkey in the last ten years being able to produce service budgets instead of interest budducing interest burden downside,”

year, adding that they would be able to achieve 4 percent growth which was foreseen in Medium mance in Q1, in this achievement covery in economy and decisions that taken in micro level became

The aim of the program is to pick the firms which show successful across pebrands program is held in 87 counset up and a lawful regulation was

Simsek also noted that upcoming elections would not disrupt the pare our budgets in that direction and we will not do it in the future

developments in the global econnecessary we will take the necessary precautions in order to ac-

and political stability to carry out those measures,” Minister Simsek

Over a question whether they would expect a new rate increase from credit rating organizations, he highlighted that those organizations would remain behind, Turkish economy has deserved its better, even though rating increase would make bigger effect in Turkey, by the rating increase the private sector could access As for the question about privatization of bridges and highways, what kind of roadmap would be traced, he said a company must be

About the issue in taxation of motor vehicles, he said the works have come to the last stage by preferring a sensitive principle to the environment; in that issue they would offer it to Economy CoorAbout tax incomes Simsek said they would increase share of diportion to GDP was very low, so they must make a regulation in

Turkey’s superbrands have taken their In the selection of the superbrands some elements are taken into account such as size of the company, technology, investments, labor force quality, innovation, investment that made in branding issue, brand sustainability, contribution to social responsibility projects, sensibility in environment, compliance to ethic values and place The number of 45 Turkish brands which have deserved to use superbrands logo are Akbank, Atasay, Banvit, Dalin, Damat/Tween, Denizbank,

Turquality program has become effective in the promotion, development and letting the sounds of Turkish brands

people across the world have a negative point of view for banks in Turkey; Kredi have achieved to take place in sites in Turkey convert into a crucial brand such as Markafoni, Yemek sepe-

Superbrands was founded in London customers an insight into the signifi-

7

Made in Turkey Economic Newspaper, May 2013

Turkish exports increase 4.9 pct in April TIM Chairman Mehmet Büyükeksi

M

ehmet Buyukeksi, Chairman of million dollars over the same month previous creased 3 percent in April,” Buyukeksi also Turkish Exporters’ Assembly announced the exports accomplished Based on the provinces the most export increase achieved by the province of Gazianand Bursa with 15 and 14 percents in export Buyukesi delivered a speech at a press conference at the Chamber of Commerce and Indus- provinces which increased their exports were lowed by the chemistry sector and garment Adana with 5 pct, Istanbul with 4 pct, Izmir with 3 pct, Ankara with 2 pct, Kocaeli with 4 -

Exports in Turkey’s southeast up 19%

Industrial Zone excels

K

irklareli OIZ is a favorable example in the way that physical, Border and Customhouse 50 km, Istan-

and cooperation between state – entre- Corlu Airport and Customhouse 100 km and the zone has no earthquake risk - because it is in 4th degree earthquake

Exports of southeastern Anatolia rose by Totally exports have been achieved to the number of 173 countries via our region inperiod a year earlier, according to figures cluding Iraq, Saudi Arabia, Libya, Syria, the released by the Southeastern Anatolia Ex- USA, Italy, Germany, Russian Federation, Britain and Egypt which take at the first GAIB president Abdulkadir Cikmaz, announced that they shipped goods to 177 carpets, iron-steel, fabrics, yarns, pastry countries, such as Iraq, Saudi Arabia, Libya, products, plastics products, milling prodSyria, the United States, Italy, Germany and ucts, vegetable oils, papers - cardboard and ziantep was the locomotive province of the ziantep which is the locomotive province of billion 64 million over the same period last GAIB President Abdulkadir Cikmaz

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urkey’s Southeastern Anatolia aclion in the first four months this year, showing a 19 percent increase over the

- Cikmaz also underlined that the province of Gaziantep keeps its stance ranking sixth foremost exporting products of the province were cereals, pulses, oily seeds and products, carpets, textile, chemical matters,

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quarter have clearly shown that increased to these countries, he reAs for other regions where exports increase are the Mideast and Turversity in the European standards, we have been in an advantageous erting intensive efforts to use this advantage in our favor and diversifying our exports in the new mar-

between OIZ and city center in ease af-

committee programs for the differ-

electric and electronic sector meet with the potential markets such as Zealand, Chili-Argentina AngolaCameron, following Algeria-MoAccording to the information, despite decrease experienced in the exports over the same period last year, the sector enjoyed increase in the exports through Eastern Europe, Turkic Republic and Mid-

to compensate constriction in the European market via market diversector has accelerated the market researches across the world in the leading of Istanbul Electric Electronic Machinery & ICT Export-

The two- way road started to be built putting into service of water, rain wa- 25 April 2008 has planned between ter, sewer system, electricity, and natural gas infrastructures compared to other OIZ which has started to be built two-way road that starts from Derekoy border and passing through KizilcikKirklareli OIZ is a rare OIZ that pro- dere village on the road of Pinarhisar get markets are Europe, the Balkans and the Black Sea Countries because of its location, has peace between employees and employers besides its perfect infrastructure, and because there are roads which has been planned to be built around other 81 cities in urgent Distance between the zone and Derekoy action plan of the prime minister’s ofBorder 57 km, Edirne Kapikule Border and Customhouse 70 km, Kirklareli open the border gateway for truck traf-

100 km, Edirne Ipsala Border and Cus-

Exports of electronics rise by $3 billion in Q1 ET Executive Board Chairman Fatih Kemal Ebiclioglu said they had advanced through the alternative markets by compensating the handicaps in the EU market, adding the European economy has not still overcome the economic crisis and the Eastern European economy has been more active when compared to across

has begun in the second half of 1997 The construction of the two-way road in which world and Turkish economy between Kirklareli and Pinarhisar

increase of the sector achieved in the countries such as Iraq, Saudi Arabia, Turkmenistan, AzerbaijanNakhchivan, Israel, Algeria, Po-

are holding fair and commercial

Turkey’s seeds exported to many countries

8

Made in Turkey Economic Newspaper, May 2013

Imports lessen 0.6% in March T

urkish exporters accomplished the most exports in the countries of Germany and then Iraq, the UK

Calendar adjusted exports and imports in-

partner country for exports was Germany many was followed by

In March 2013, exports

compared with March endar adjusted exports and imports decreased by

-

Exports to the European

compared with March 2012, according to the statement of Turkish Sta-

As compared with the same month of the previous year, exports to the

The top country for imports was China In March 2013, the top countries for Turkey’s

In March 2013 exports imports coverage rate as

portion of the EU coun-

other than railway or tramway rolling-stock, parts thereof” has by far the highest value ex-

and mechanical applianc-

and crocheted goods and

ery and mechanical ap-

Mineral fuels and oils are forefront in imports At the same period, the top categories for imports

than railway or tramway rolling-stock, parts there-

Nuclear plants to help Turkey shave 7.2 bn $ off energy imports

and the United States of At the same month, for-

The main partner for exports was Germany In March 2013, the main

way are forefront in exports

“Removing of 50 percent limit to boost trade”

Turkish automotive exports reaccelerated

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expected to be in operation in 2019 and 2023 respectively, will help the country

amount Turkey pays every year to produce the Turkey launched its efforts to acquire nuclear power in 1960, but made real progress only when it signed a deal in 2010 with state-owned Russian Rosatom for the construction of a nuclear plant in The country has recently taken what is seen as the second major step in its nuclear bid, entering into an agreement with Japan, announced in a press conference by Turkish Prime Minister Recep Tayyip Erdogan and his Japanese counterpart Shinzo Abe, on a nuclear power plant project in the northernmost province of Sinop, planned to be completed

Mining exports up 40 percent in Q1

Turkey to start clean slate with IMF

Importing 98 percent of fuels it uses for energy production, Turkey plans to substitute as much of its energy production from natural gas withnuclear energy, with the objective of increasing its The new power plants are expected to generate a combined yearly output of 80 billion kWh, which Turkey currently buys 16 billion cubic meters of natural gas to generate, resulting in an energy bill

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urkish mining sector’s ex-

emerged in the exports of the secquarter 2013, the sector exported tries that performed high increase were Bulgaria, Thailand, Libya and

in January-March period of 2013, according to the announcement of the Istanbul Mining Exporters’ AsMajority of the exports were accomplished to China, US, Belgium,

Turkey aims to have an installed capacity of 110130,000 MW in 2023, with energy consumption

across the world the natural stones which are excavat-

West Africa attracted attention in percent ine n -

crease

The sector’s export to China surged e d i n Tu r key, 23 percent growth was achieved in the -

period preThe mining sector has shown a better perfor-

joyed in this gion when

recompared

The block marble and travertine’s exports raised 36 percent, as for the processed marble and travertine in-

Senegal, Guinea and Ghana have

Chemical sector exports prosper and worth $4.2 billion in Q1

Health-spa cure results best in spring and fall ealth-spa cure results best in the spring and fall

posters were presented with the participation of medical ecology and hydro climatology experts,

Medical and Balneology

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urkey’s chemical sec-

emerged to forefront in the

billion 246 million of goods in the first three

In March, mineral fuels, oils, plastics and products, rubber and rubber goods took place in the first three of

Istanbul Chemicals and Chemical Products Exporters’ Asits exports data achieved in the first quarter worth 4 bil-

Malta and Netherlands dominated in mineral fuels and oils; as for Iraq, Germany and Russia ranked atop by

While Egypt, Iraq and Malta ranked atop; Germany, the Netherlands, Spain, Iran, Russia, Italy and Azerbaijan-Nakhchivan also took place at the upper levels in the exports of chemi-

rubber exports Germany, Italy and Bulgaria ranked up-

In this period, while exports are continuing to increase to South America and Africa; meanwhile Brazil, Zimbabwe and Gabon have also

indicating they had focused on the sustainable exports increase and said they began the year 2013 with exIn the first three months they accomplished the most third exports amount in overall

to South American and African counWe follow up these

Also a good performance was seen in the exports of paint, cosmetics, soaps, personal cleaning matters, pharmacy products and organic In his point of view, IKMIB Chairman Murat Akyuz,

are continuing to our works in the scope of national participation organization fairs and product-developwill participate in 4 fairs in 4 conti-

130 exporters from the Plastic, cosmetics and private label sectors will be representing at the fairs of Chinaplas, Feiplast, PLMA’s World of Private Label 2013 Amsterdam and Dubai Beautyworld,”

due to the 10th Turkish Balneology Congress and 1st SPA Wellness Sympoference, free paper and

thermal facilities, physiotherapists, hydrotherapy and physiotherapy technicians, nutrition and diet experts, beauty experts, estheticians, massage therapists, sport trainers, Karagulle noted that various researches about the issue had been shared with

posium, the researches about which health spa treatment is suitable in which months were shared now, we were also curious health spa would be

get information in this issearches, health spa treatment yields the best result in the months of spring

difference according to But, in general average spring and fall months are Number of tourists from abroad who come to health spa is some number of 1,500 per annum, acIn Turkey, general use is ber of 8,5 million people get treatment at health

White goods production increases

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urkey’s white goods production has increased

quarter 2013 when compared to the same According to the statement, the increase of the white goods production reached by number of 5

million 111 thousand 898

of the white goods inpercent to 1 million 501

In this period, exports percent to 3 million 666 thousand 780 units, the cent to 314 thousand 535 The sales in the domestic market of the manufac-

131 thousand 464 units According to the report prepared by the Turkey’s Ministry of Development, white goods production

of white goods became 1 million 316 thousand 463 The sales in the domes-

to 1 million 877 thousand 368 units in March

percent to 566 thousand

9

Made in Turkey Economic Newspaper, May 2013

An irresistible shopping package from Mövenpick Hotel Istanbul.

of 236 metres, just few steps away from come after a long shopping day than a complimentary foot massage?

For reservations call tel: +90 212 319

heritage and headquartered in Zurich, ate about delivering premium service and culinary enjoyment – all with a persorts has become the most Green Globe

com/istanbul national upscale hotel management company with over 16’000 staff members, is represented in 24 countries with 78 hotels, resorts and Nile cruisers currently in

-

A

planned or under construction, includ-

I

cated in the heart of Istanbul’s chic tel Istanbul offers an exclusive weekend shopping package including a 20 per cent discount for guests who book two nights or more at the hotel between 8 and 30 June 2013, valid from Thurs-

The special Istanbul Shopping Fest package also features unique privileges including 10 per cent discount at the hotel’s own restaurant; twice daily scheduled complimentary shuttle serfree entrance to the Observation Deck

Tourism revenues surge 40 percent in Q1

-

In the first quarter; which is January, February and March months of

Focusing on expansion in its core markets of Europe, Africa, the Middle East specialises in business and conference hotels, as well as holiday resorts, all reflecting a sense of place and respect

degree views of the city from a height

In this quarter while the average expenditure of the foreigners was

Cruiser tourism increases remarkably

I

n the first quarter, cruiser tourism has

According to the statistical information prepared by Maritime Trade General Directorate, cruiser tourism, which is carried out via luxury ships through upper income group, has performed a growth quite over the world average in

When looked at the last ten-year, the number of ships came to Turkey with the

A

s a leading company in developing and producing new building chemical products in Turkish construction industry, contributing to sustainability of quality in such products, and devising systematic solutions for effective usage of them, Koramhas expanded its objectives by making an investment of USD 15 million for a new plant in Turkey in

50% partnership of Koramic Buildthe most powerful groups in Turkey in 1998, Koramic Building Chemicals continues its growth thanks to its YSD 15 million investment in a new plant after 100% shares of the company were transferred to Koramic Group under a special Koramic Building Chemicals currently manufactures annually 160 thousand tons of building chemi-

cals in its Bozüyük plant with an annual capacity of 100 thousand tons and Tarsus plant with an annual capacity of 60 thousand tons both of which are known to have the most advanced technology in Turkey and Europe and it is sure to further increase its production capacity with the new plant of which construction activities have lately The new plant which shall be equipped with full integrated facilities having state-of-the-art technology for the manufacture of epoxy, polyurethane systems, and acrylic product systems as well all the cement-based chemicals known as powder building chemicals is planned to have an annual capacity

markable project which shall have m2 land in Bozüyük after starting manufacturing operations in June

General Manager of

2014 thanks to an investment of USD 15 million, would mark the beginning of future investments indicating that they gave a special importance to forming close relationships with customers so as to increase the brand awareness and market share in the industry and they continued their activities and negotiations to establish new production plants or acquire existing ones in various locations in AnatoIstanbul / 2013

Russia not to ‘risk’ Turkey for Greek Cyprus continued From Page 16 he aim to reach a trade volume between Russia and Turkey

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ambitious,” Russian Energy Minister Alexander Novak said during a press conference after the 12th meeting of the Turkish-Russian Joint Economic ComThe current trade volume between both -

we look to the aspects of our trade the primary import materials are energy resources and metals, at around 87 per-

Novak emphasized that priority should be given to diversifying the traded ize new project in sectors where mostly new technologies are used, such as automotives, the nautical industry, and the portation centers are of great importance

At the end of the press conference, the ministers held a video conference with Turkish students studying at the National Research Nuclear University in Moscow, who are expected to operate Turkey’s

mark history when they start working in For his part, Turkish Energy Minister tential between the two countries was companies operating in Turkey, while Turkish construction companies have

Meanwhile, the director of the Akkuyu sured that work on the plant would be

Tourism expenditure which is the expenditure of the Turkish citizen

cruisers that come to Turkey in 2009 de-

In this quarter number of Turkish citizens visited abroad increased cruiser that came to Turkey increased 15

Koramic Building Chemicals to make investment of USD 15 million in its 15th Anniversary…

While number of foreign visitors was 4,076,518; the number of Turk-

10

Made in Turkey Economic Newspaper, May 2013

Turkish olive oil skyrockets in exports Turkey’s olive oil exports reached 45 thousand tons increasing 446 percent between November 2012 and March ports increased 626 percent in March 2013 over the same month a year earThe climb is regarded stemming from harvest drop in Spain, the world’s largest oil producer, according to a

Turkey’s olive oil exports, which were staunched considerably since the 2005-2006 season, started to recover last year, 2012-2013 season study report of the Aegean Olive and Olive Oil

more than 400 percent in terms of As the exports have reached 45,524 tons with 446 percent increase between November 2012 and March 2013 over the same period previous

exports increased from 12,000 tons to 20,000 tons in the 2011-2012 season in the previous period, income increased

for year-on-year basis, the exports in

The new season achieved a success

The report revealed that a 60 percent

Countdown to start for two new Turkish satellites

of rain

loss in S p a i n’s olive oil production because of lack had boosted Turkey’s

Spain, the country ranks the top olive ers are Italy, Greece, Tunisia and Tur-

CAYKUR installs most modern facility

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install a new packaging facility with the state-art-of-technology of the world, according to the statement of Imdat

Sutluoglu noted they sold 115 thousand tons tea last year, in 2013

Turkish pasta sector enlarges its capacity

Rize to forefront not only with the produce but also with its touraround the facility tourists who visit Rize can be able to see how will spend worth TL100 million for the new investment which

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urkey is to launch Türksat

AA photo The Türksat 4A and Türksat 4B satellites, which have been built jointly by Turkish and Japanese engineers, are about to be completed, Transport Minister Binali

pleted, we will send Türksat 4A to space at the end of this year and

equipment building and integration of the two satellites that started being built two years ago building of the two satellites is continuing under the supervision

participation of 15 Turkish engirican continent will be covered lite, we will be able to cover the entire continent … The satellite functional and environmental tests, known as space environment compliance tests before the

and will be able to provide cheap broadband Internet to those regions in Turkey where the Internet is not available through the current terrestrial infrastructure, as well as to some neighboring the two satellites, Turkey’s satellite capacity will increase to three times the

I

n recent years, Turkish pasta sector has increased its capacity by making additional -

Turkey’s Pasta Industrialists Association Executive Board Member Mehmet Karakus in his statement said the sector has expanded the capacity utilization in recent years and has also

Türksat 4B is also being assembled alongside 4A, and will host -

-

-

Sutluoglu said they would export to 28 countries including Singapore, Korea, Australia, China and Saudi Arabia, noting that they would aim to export to Russia, Balkan, East Europe and Central

Imdat Sutluoglu said their objective for the organic dried tea proTurkish pasta sector has achieved over 30 per-

at 50 degrees east and, like Türksat 4A, will cover North Africa, It will also offer Internet services,

increase are continuing in the plants of Isikli, Findikli and Ke-

pasta sector accomplished 400 thousand tons of The exports of Turkish pasta sector have in-

months and launch Türksat 4A

boost the current capacity by establishing green tea plants in the

organic tea production capability and capacity as much as thembe a remarkable alternative to Italy with the pasta exports in the upcoming years,” Karakus

11

Made in Turkey Economic Newspaper, May 2013

Turkish Central Bank cuts interest rates to stimulate growth cent, its overnight borrowing rate to balance risks to financial stability, the committee deemed it appropriate to maintain macro-prudential rates low while increasing forex reserves,” the bank said in a state-

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urkey’s central bank cut its three main interest rates by 50 basis points in a bid to stimulate growth and guard against an appreciating lira, sending benchTurkish economic growth slowed the central bank has been trying to spur the economy since mid-2012, embarking on a series of rate cuts remains weak, although bank lending is rising faster than the central

of forex that lenders have to provide to hold a portion of their required reserves in foreign exchange, a move which will boost its own forex reserves while tightening lenders’ decision,” said Turkish Economy Minister Zafer Caglayan, who has been criticizing the central bank policies for slowing down Turkish economy’s growth by

Basci had hinted earlier at a rate cut, saying this month that the bank may consider lowering its main rate if the lira climbed too fast, which could widen Turkey’s current account deficit, its main economic exports more expensive and imports cheaper, which can widen the current account gap and put Turkey deeper into debt to external mar-

ciation,” said Gaelle Blanchard, emerging markets strategist at Soits policy rate in December, when it Before that, the previous cut was in August 2011, again a 25 basis point Last month, the bank unexpectedly slashed its overnight lending rate but moved to tighten liquidity overall by reducing lira funding and draining more foreign currency and

I

a point on their commitment to maintain the currency stable and to prevent appre-

Prime Minister Recep Tayyip Erdogan had said April 5 he finds the interest rate of Turkey too

Turkey rediscovering its geothermal energy resources continued From Page 1 he number of geothermal areas, which was 173 in 2005, reached 225 and 145,000 meters of drilling was conducted

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ing geothermal resources in 2002 while with a 198 percent increase, that number reached almost 90,000 Electricity production from geothermal energy was 15 MWt in 2002

Turkey’s visible heat capacity went up by 130 percent and recorded Green house heating which was 500 acres in 2002 became almost 3,000 acres at the end of 2012 with a 485 Only 30,000 houses were utiliz-

Speaking to AA, Zorlu Energy Director General Sinan Ak said having more than 1,300 reservoirs, Turkey do not benefit properly from geothermal energy and Turkey being able to utilize its existing renewable

energy potential was crucial at solvAk said 65 percent of Turkey’s hydroelectrical energy, 90 percent of its geothermal energy, 95 percent of its wind energy and 100 percent of its solar energy were waiting to be used for elec-

Sales of gasoline and diesel surge n the first two months 2013, domestic sales of gasoline increased 1 percent to 253 thousand 37 cent to 2 million 122 thousand 793 tons compared to the same period last year, according to the statement of Turkey’s Energy Market Regula-

1 percent to 2 million 958 thou-

In February 2013, distributor firms’ gasoline sales were 118 thousand 423 tons, diesel sales were 1 million 53

million 608 thousand 72 tons over

As for the total gasoline and diesel production of refinery license owners was 785 thousand 319 tons, the production of total oil products became 1 million 499 thousand 685

664 tons in the first two months over

In January-February 2013, the total refined oil products increased

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1. SUCCESSFUL ECONOMY Booming economy; more than tripling its GDP, reaching USD 772 billion in 2011, up from USD

sand tons refined and obtain income when I came to the office while the establishment was losing worth TL17 million, in 2012 the establishment profited

Promising economy with a bright future as it is expected to become the fastest growing economy among the OECD members during 2011-2017 with

18th largest economy in the world and 7th largest majority of boron reservoir in the world of boron is consumed in the world anthey sold 2 million tons refined boron -

thousand tons refined boron production, in 2012 it has raisedby293 thousand tons with 63 percent

an intensive investment process in order to boost product portfolio diversity and production caSekerci also noted they employed 1,338 people and contributed to the indus-

Institutionalized economy fueled by USD 110 billion of FDI in the last 9 years and ranked as the

A dynamic and mature private sector with USD 135 billion worth of exports and an increase of 275 2. POPULATION

Turkey has rich geothermal energy potential

P

ossessing rich geothermal sources Turkey has increased drilling activity from 2000 meters to 28 thousand meters per annum in pacity has raised 46 percent within 7 According to the report from Turkey’s Mineral Research & Exploration Genpotential which is accepted 31 thousand 500 Megawatt, ranks 7th in the

of studying and drilling, Turkey’s existing number of 173 explored geothermal fields in 2005 has presently tential heat capacity has risen by 7 thousand megawatt together with the private sector in 2012 with 130 perGeothermal energy is used in the areas duction, thermal and health tourism,

Between the years 2002 – 2012, while geothermal application was 500 decare, it raised by 2 thousand 924 decare as of the end of 2012 with 485 per30 thousand homes favored geothermal energy this figure has surged 89 thousand 443 homes as of the end of

Largest youth population compared with the EU

irline passengers to increase in upcoming years will increase 31 percent within

Last year the number of aircraft traffic which was 1 million 93 thousand 47 units, this year envisaged to reach

thousand 292 units in 2014; in 2015 the number of passenger predicted to rise by 171 million 463 thousand 884 units with 31 percent increase

Last year, the number of 131 million 29 thousand 516 passengers in 2012 is predicted to rise by 171 million 464 thousand in 2015 with 31 percent increase, Turkey’s State-run air-

envisaged to surge by the number of 1 million 266 thousand 188 in 2014, in 2015 the number would rise by 1 million 354 thousand 82 with 24

Acquiring worth TL2 billion 255 mil-

The number of passenger which was 131 million 29 thousand 516 in 2012, this year expected to rise by 143 million 950 thousand 140 units; the figure will reach by 158 million 59

some TL2,5 billion of revenue this year and in 2014 income would be TL2 billion 678 million and in 2015 the income is predicted to become In 2015, number of personnel would rise by 9 thousand 544 which was 8

International arbitration Guarantee of transfers 5. INFRASTRUCTURE New and highly developed technological infrastructure in transportation, telecommunications and energy Well-developed and low-cost sea transport facilities Railway transport advantage to Central and Eastern Europe Well-established transportation routes and direct delivery mechanism to most of the EU countries 6. CENTRALLY LOCATED A natural bridge between both East-West and North-South axes, thus paving the way for an

Eurasia, the Middle East and North Africa Access to multiple markets worth USD 25 trillion of GDP 7. ENERGY CORRIDOR AND TERMINAL OF EUROPE An important energy terminal and corridor in Europe connecting the East and West More than 70 percent of energy resources are located in the south and the east of Turkey, while the largest energy consumer, Europe, is located LOW TAXES & INCENTIVES Corporate Income Tax reduced from 33 percent to 20 percent Individual Income Tax varies from 15 percent to 35 percent

Increasing labor productivity The longest working hours, and the lowest sick

Development Zones, Industrial Zones and Free Zones could include total or partial exemption from Corporate Income Tax, a grant on employer’s

While electric generation in 2002 was 15 megawatt, the generation raised by 162,2 megawatt at the end of 2012,

Airline passengers to increase in upcoming years

Last year number of air traffic which was 1 million 93 thousand 47 airplanes expected to reach by 1 million 354 thousand 82 with 24 percent

percent to 206 thousand 278 tons in February, in the first two months the exports of gasoline increased 2 percent to 413 thousand 449 tons in

Young, dynamic, well-educated and multi-cultural population 3. QUALIFIED AND COMPETITIVE LABOR FORCE Over 26 million young, well-educated and

Approximately 500,000 students graduate annually

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for the imports of diesel, increased

TURKEY OFFERS INVESTMENT OPPORTUNITIES

Stable economic growth with an average annual General Manager Sekerci reminded that Bandirma Boron and Acid Plants were established in 1964 in order to process and refine the boron mine, their activities have been boosting since the establishment day with increasing ca-

In Jan –Feb 2013, the imports of

included to economy, a 10 billion USD saving annually would be realized at Turkey’s energy ex-

“We set world boron market” he reservoirs of boron in the world are 4 billion tons and 72 percent of the reservoirs have been in Turkey, Recep Sekerci, General Manager of Eti Mine Enterprises

The imports of crude oil increased 12 percent to 1 million 376 thousand 188 tons; imports of diesel increased

More than 700,000 high school graduates with around half from vocational and technical high 4. LIBERAL AND REFORMIST INVESTMENT CLIMATE The second biggest reformer among OECD countries in terms of its restrictions on FDI since

Business-friendly environment with average of 6 days to set up a company, while the average in OECD members is more than 12 days Strong industrial and service culture Equal treatment for all investors Around 30,000 companies with international capital

R&D and Innovation Support Law Incentives for strategic investment to decrease imports, for large-scale investments, as well as for regional investments 9. CUSTOMS UNION WITH THE EU SINCE 1996 Customs Union with the EU since 1996, and Free

More FTAs underway Accession negotiations with the EU 10. LARGE DOMESTIC MARKET 50 million internet users in 2011, up from 4 million in 2002 65 million mobile phone subscribers in 2011, up from 23 million in 2002 51 million credit card users in 2011, up from 16 million in 2002 118 million airline passengers in 2011, up from 33 million in 2002 up from 13 million in 2002

12

Made in Turkey Economic Newspaper, May 2013

I

n March 2013, stock exchange, ment tools, yielded the high-

cording to Consumer Price Index, -

the highest loss with the rates of -

to Producer Price Index and Consumer Price Index respectively, -

-

the highest loss with the rates of

Visa exemption ‘accelerated’ Turkish exports

Investors of stock exchange made According to Producer Price In-

-

according to PPI and CPI respectively, however in the same period

Turkish dairy products in EU markets

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urkish milk, dairy and meat products are going to take place in the markets of the Euromission, the Turkish dairy and meat products will meet the needs of European people, Ali Koyuncu, Chairman of Turkish Dairy Products Pro-

noted that this development has become very crucial in terms of agri-

As for Chairman of the Milk Pro-

figure will raise 4 folds in one or two dairy exports to the EU are expected

Koyuncu commented that due to the financial crisis and elderly population cannot produce in Europe and also elder farm owners have begun

development, not only the European market, but also African market has been opened for the Turkish milk of Turkey’s milk and dairy product

Turkish dairies are now commissioned to export to the continent; the number could rise by 20 or more by the next year, if other Turkish firms pass

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Bond rates hit historic low on Central Bank optimism

1

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Turkey attracts $627 million international investments TIAD Chairman Erdal Gamsiz

E

conomy Ministry announced that 81 companies with international capital have been es-

Those companies were working mainly on wholesale and retail sale, real estate renting, transportation, communi-

cation and storage sectors, according The number of companies with international capital, which had been established in January and February, 2013, was 289; and 126 of them had

– February 2013, number of 289 international companies have established, 126 of them from the European Union countries, 94 from near and Mideast countries, 21 from other European

Also number of 5 thousand 515 international companies have partnered said companies act in wholesale, retail, real estate rental and doing busi-

2013, a total of 27 thousand 831 inter-

Turkey set to surge defense exports

Turkish machine tools exported to 40 countries

E

xporting machine tools which are primarily used in the automotive sector and then whole industry to 40 countries, the sector ranks 10th in the world and 3rd in Eu-

Machine tools Industrialists and Businessmen Association

T

he United States still prevails in the arms exports, but the sector aims to enlarge number of des-

Turkey’s defense and aerospace industry exports in the first quarter have surged

chairman of the defense and aerospace industry exporters union has said the

sector had enjoyed rise in recent years

success in exports of land vehicles, com-

exports in March on a yearly basis, Turkish arms manufacturers achieved to raise

munication systems, as well as electro

the 33 percent increase in the first two months of the year, according to data provided by the Turkey Exporters As-

The defense industry’s largest export items

According to the statement of Latif Aral Alis, Chairman of Defense and Aerospace Industry Exporters Union, the

million between the years 2008 and

include plane and helicopter parts, tur-

machine tools and other tools are the basic manufacturing maPrimarily automotive, machine tools are used directly or indirectly in many sectors such as machinery, automotive supplier industry, mold, cast, footwear, medical materials and agriculture Pointing out that the sector had developed outstandingly in the

bojets, tanks and armored combat vehiThe target of the sector is to accomplish

cles, civilian passenger planes, and rocket launchers, according to the announce-

manufacturers took at the 10th stop in the world, in Europe in

the sector search for ways to spread its

Highway constructions speed up in 2013 ighway General Directorate kilometers highways, 1050 kilometers double-lane expressway A total of 11 thousand 797 kilometers north-south axles construction which will connect the Mediterranean and Black Sea ports to bordergates and to Central Anatolia and -

million 550 thousand sapling plantIn the works of the General Directorate there are also construction of 120 bridges, repairing of 65 bridges, maintenance of 550 bridges, restoration of 16 historical bridges, preparation of 190 bridge projects, in the are also intersection signalization and road safety fences, avalanche tunnels in 270 meters length, 50 kilometers snow fence, number of 3

As of the beginning of this year, the highway network in the responsibility of KGM has reached by 65 thousand 9 thousand 715 kilometers doublelane expressways and 5 thousand 550 kilometers additional highways have been planned via Build Operate Transfer model, so the total doublelane expressways would reach by 36

men hot mixed covering road would reach by 70 thousand kilometers by rupted expressways from west to east in the scope of highway projects, the works which include the Izmit Gulf Passage, Sabuncubeli Tunnel of the the 3rd Bosporus Bridge, will be accelerated in the framework of North

One of the most important reasons to prefer the Turkish machine -

13

Made in Turkey Economic Newspaper, May 2013

Historic goals to end extreme poverty T he Development Committee endorsed the World Bank Group’s goal to end extreme poverty bitious”, saying that this entoric opportunity” to make tee equally confirmed the Group’s vision to promote shared prosperity and added these goals must be achieved without jeopardizing the environment, magnifying economic debt or excluding vul-

World Bank Group President Jim Yong Kim, who pushed this twin-pronged approach in his speech two weeks ago, welcomed the Committee’s

world can end extreme povit’s not a given and we canfocus, innovation and com-

reduction to an extent not seen before in many low inrequire overcoming institutional and governance challenges, and investing in infrastructure and in agricultural

and stated that we can count on the World Bank Group as a partner in the endeavor of ending extreme poverty and boosting shared prosperity,” said Marek Belka, the Chairman of the DevelKim renewed our zeal for the Bank Group’s core mission of a world free of povportunity at our reach to make The Communiqué also called on the Bank Group to pay special attention to countries and regions with the highest incidence of poverty and to Fragile and Conflict-Affected

-- fostering income growth of the bottom 40 percent of the population in every country – will not be achieved without ments that generate opportunities for all citizens and promote gender equality are an important end in their own right, as well as being integral to generating sustained ecoperity also means focusing on those who, although not currently poor, are vulneraThe Committee also gave its vote of confidence for the International Development Asfund for the poorest – as a critical tool to carry out the Bank’s mission, and called for a robust IDA17 replenishment with strong particiwelcomed IDA17’s overarching theme of maximizing development impact, including

by further leveraging synergies with the Group’s private sector arm, the International Finance Corporation insurance agency, Multilateral Investment Guaranthermore, the Committee recognized IDA17’s focus on inclusive growth, gender equality, FCS, and climate resilience, including disasThe role of the private sector to promote growth and job formation in achieving the goals was also noted in the enabling environment, adequate infrastructure, and policies that promote competition, entrepreneurship and job formation, the private sector can support shared prosperity and offer real opportunities to all citizens, especially women and young

This endorsement is an imto the particular challenges together, we would have accomplished an historic mileThe 25-member Development Committee, which meets twice a year during the World Bank/IMF spring and annual meetings, said in its Communiqué that reducing the percentage of people living percent by 2030 will require strong growth across the developing world, and translation of growth into poverty

Informatics sector’s turnover rises

A new analysis of extreme poverty released by the World Bank recently showed that ple living in extreme poverty and despite recent impressive progress, Sub-Saharan Africa still accounts for more than one-third of the world’s exThe Communiqué also stressed that the goal of shared prosperity

I

n 2012, the informatics sector’s turnover in Turkey has -

Turk Telekom, said at the 16th

dated, we invested worth TL13

social networks and new mega trends which are known cloud

our investment amount is TL2,4 ments cover infrastructure and

survey from Forrester Research

my Summit which is held by the Marmara Group Foundation for 16 years in a row was proud for Turkey due to achieving place in politic, economic and dialog be-

be a pioneer to develop technologies to facilitate life with digital solutions in education, health, entertainment and energy ar-

Yilmaz recorded that Turkey has taken place in the countries that perform quick development

about online applications, new interfaces, machines that speak with each other, cloud informat-

also said Turkey has a potential which will allow Turkey to enter into foremost centers of the world, in other words it is a country that has young human resources who are interested in

world that we live in it continuously get digitalize, money digiYilmaz highlighted that in 2020 in the world 50 billion machines

According to the data in 2012, Turkey’s informatics turnover

According to a survey conducted

by Intel, the number of devices which are connected to internet would become 20 million units

communication company not only to the telecommunication sector, but also it provides value added to Turkey’s economy

As for a survey that conducted

by Microsoft Turkey, 80 percent of informatics expenses in 2020 will consist of mobility,

Turkey’s installed power doubled in the last decade

Continued From Page 1

T

urkey’s installed energy power capacity grew 3 thousand 742 megawatt in 2003; 1,237 Mw in 2004; 2,019 mw in 2005; 1,721 mw in 2007; 982 Mw in Some 60 percent part of 25 thousand 213 megawatt was added during last four

Continued From Page 16

P

olicies to boost growth were a focal point, said Tharman, who added that the IMFC saw accommodative monetary policy appropriate in the short structural policy action is ward a better balance of cal and structural—with a strong emphasis on meditural reforms rather than an overly heavy reliance on monetary policy,” said Focus on sustainable growth The IMFC, which represents the Fund’s 188 member countries, said in a communiqué that an

uneven recovery is emerging but growth and job

years between 2009 and Meanwhile Energy Minister Taner Yildiz stated that they invested TL100 billion in the recent years to supply the energy demand and added, ten years later Turkey would need twice energy it currently

activity picking up, policies should be recalibrated to rebuild buffers and

Continued robust growth in many low-income countries provides room for replenishing policy buffers while addressing pressing infrastructure Fund needs to closely monitor the sustainability of the Poverty Reduction

and stronger progress on -

in relation to the needs of

area, further progress in repairing bank balance nancial fragmentation is

Fund should continue to focus on jobs and growth as a basis for tailored policy advice, in collaboration

Emerging market and de-

and renewable sources in the electricity generation will be our priorities,”

According to the foresees of IBM in the future, we would not use password within 5 years for our cells, internet sites, ATM cards, instead, sound control and

BU ŞEHRİN İÇİNDE DIŞINDA, GÜNDÜZÜNDE GECESİNDE, BİR ÖMÜR, SADECE,

168,3+6m1 150.000¨ 296,6+3m1 188.000¨ 35,+661m 272.000¨ 2

two nuclear power plants and domestic coal will constitute the half of these

In 2015, the total expenditures that will be made via NFC to

2

15

2

MUTLULUK ve HUZUR VAR!..

BU ŞEHİR KRİSTALŞEHİR!..

Bu şehirde kaliteden konfora, standartlardan ayrıcalıklara, “yaşam kalitesi”yle ilgili tüm bildiklerinizi unutup “çok özel bir dünya”da yepyeni bir yaşama başlayacaksınız!..

Başlayan fiyatlarla. İhlas Holding, önceden haber vermeden değişiklik yapma hakkını saklı tutar.

-

to nurture a sustainable recovery and restore the resilience of the global The IMFC’s key priorities for the months ahead include: commodative monetary policy is still needed to help bolster growth but needs to be accompanied by credible medium-term

gets, we will invest TL200 billion in the energy sector within the next ten

of cellphones harmonious with NFC will reach by 100 miltion, untouched payments with NFC technology are foreseen to spread in the market in a short

IMF should conduct further analysis on the impact of unconventional monetary policy on capital modity prices, the role of exchange rates, and global

IMFC urged members who have yet to complete the necessary steps to ratify the 2010 reforms without delay and for the IMF Executive Board to agree on a new quota formula as part of the Fifteenth GenThe IMFC also welcomed the directions set forth in the IMF’s Global Policy tion plan that outlines the membership’s policy priorities and how the IMF

KRİSTALŞEHİR SATIŞ OFİSİ 29 Ekim Caddesi No: 23 34197 Yenibosna / İstanbul

Tel : 0212 454 25 25 Fax: 0212 454 21 46

bilgi@kristalsehir HX ZZZ.kristalsehir.eu

14

Made in Turkey Economic Newspaper, May 2013

“Market value of Sabanci Holding surpasses $12 billion”

L

ast year, we got pleasing results as growth, profitability and stock performance,” Zafer Kurtul,

Collar Awards” in order to award Sabanci conglom-

looking for a better, more excellent; meanwhile we

said, adding that market value of the holding ex-

‘Golden Collar Awards’ were presented in 6 cat-

a great economic crisis happened throughout the

recorded the basic reason of that increase was a suc-

tive Board Chairwoman Guler Sabanci at the opening speech said, as Sabanci Conglomerate they were familiar to get

the year 2009, we thought that there should a way

have evolved into a new dimension that we said we would make up our own Oscar, our award via our colleagues’ accumulations

The reason of excitement of ‘Golden Collar Awards’ in the conglomerate is my colleagues like their works, want better, like

There was an idea that we must be shaken again, we must find a new at-

My colleagues prepared every kind of processes by contributing to its design,

successful

Kurtul noted they would Sabanci Holding Executive Board Chairwoman Guler Sabanci

-

the own award of Sabanci

at

Sabanci

ed awards were a result and reward of work; they had been traveling but that travel did not have any Guler Sabanci, Chairwomen of the holding; Zafer Kurtul, CEO of the holding; Neriman Ulsever, head of human resources and holding’s managers and staffs attended to the award ceremony which was held at Sabanci Cen-

Chairwomen Sabanci not-

Love of sailing made him owner of the company Akman aims to open 10 stores in three years Begininig its journey in the industry Sperry Top Sider brand, Akman offers its shoes, sandals and slippers through about 150 sales points such as Beymen Blender, Divarese, Boyner and Akman intends to open its manage to open 10 Sperry Top Sider stores within three years, is love for the sea and nature, sailing enthusiast, Zeki Akman, met Sperry Top Sider shoes by Paul Sperry, another a sailing enthusiast, designed for boat and the brand abroad, Akman is only authorized distributor of Sperry Top Sider shoes in TurSperry Top-Sider is the original brand of boat shoe designed

in 1935 by Paul Sperry, older

Offering its shoes, sandals and slippers with many choice of color and models, Akman sells products for every age, style

Stating that the famous brands in the world of fashion shaped, erate in the footwear industry to get production with our own

different models for male and female users, 50 different models of Keen sandals for women, men and children and 40 different colors and patterns of Tkees made Akman Shoes one of the leading companies in the indus-

Adding furthermore, Akman, that the world-renowned brands which are most popular has not yet become widespread in Turfuture will be shaped by world

In this direction awareness and sales of products increase with

Leading world fashion brands are offered in Turkey by Akman Assurance

three major cities apart from

its elegant, comfortable and technological products with a

boat shoes introduced into the Being distributor of world-renowned brands such as Tkees slippers, Keen sandals which is one of the leading brands that come to mind when you think of outdoor and Gant Shoes, Akman Shoes continues to grow

2009, Gant Shoes in 2011 and

Akman will be one of the leaders in the industry with four major brands in 6 years Continuing his journey in the industry, Akman Shoes started to be distributor for Sperry Top-Sider in 2006, Keen in

Water” meaning suitable for life in, on and around the water, Sperry Top Sider has been known as an iconic classic in the world since 1935, despite it is known a new brand in Tur-

started to be distributor of Sperry Top Sider shoes in Turkey by Akman Shoes offers many alternatives to its users with its sporty, comfortable, elegant and classic shoes, sandals and models for every age, style and foot are displayed to meet users in about 150 exclusive retail

Province of Hakkari exports textile products

T

ploys number of 120 women, so contributes un-

the countries such as Italy, Spain, Germany, the owner of the facility Safak Mahfuz Simsek said they also sell Simsek noted they had not experienced any problem they would increase both production and job capacThe textile facility completes and sends the orders from

Central Asia Fashion to be held on 16 -18 September 2013

C

entral Asia Fashion is the only periodical exhibition for fashion products and accessories in Central it enables direct access to the region’s leading distributors, traders, manufacturers and profession11th Central Asia Fashion was a noteworthy event which took place for three event focused on providing the visitors with a big platform which showcased various products that are associated with Apparel, Garments and Fashion

Trade Exhibitions ltd and surely invited 9600 number of visitors from variA wide range of products such as outerwear, career wear, casual and domestic wear, fur and accessories, jersey, scarves, headscarf, hats and accessories, bags, gloves, belts, hosieries, umbrellas, lip gloss, bracelets, rings, hair accessories and more were exhibited in11th International Exhibition Centre Central Asia Fashion held between 14 Key decision makers and buyers including garment manufacturers, dealers of garment/apparel acces-

sories, textile manufacturers, distributors/agents of garment machinery & accessories, importers & exporters of garment machinery, importers & exporters of textile machinery, importers & exporters of garments and others 150 companies from over 16 countries, such as Italy, France, Spain, Germany, UK, Greece, Poland, Lithuania, Latvia, Belorussia, Russia, Turkey, Ukraine, Kazakhstan and KyrgyzTurkish brands such as Cebir Giyim, Maraton Sport, Ceos, Eveline, Bolero Tekstil, Grandi Konfeksiyon, Paristan, Piempi, Platin Shirt, Sembol Giyim, Sezon Giyim, Iq Fashion, Zirve Giyim, Santa Carla, French brands such as Didier Parakian, Fuego Sas, Weill, Giorgio and Urbahia, German Tom Tailor, Spanish Madeline and 30 Italian brands, Emi-Ente fashion association exhibited their the newest and most featuring Kazakhstan Chamber of Commerce & Industry, Kyrgyzstan Chamber of Commerce & Industry, Afghanistan Chamber of Commerce & Industry, K AT I A D -Ka za k hst a n Businessmen Association,

KITIAD - Kyrgyzstan Businessmen Association, L eg p r om -K a z a k h st a n Textile Association, Legprom Kyrgyzstan – Kyrgyzstan Textile Associa-

Central Asia Fashion/autumn will be held in 1618 September, 2013 with participation of FITCA

15

Made in Turkey Economic Newspaper, May 2013

Koc Conglomerate boosts Pegasus Rises in Trading e added Koc Conglomerate has strengthened more and continued to get successful results in its all activi-

recent two years, average 26 percent increase was enjoyed per annum in the consolidated home and abroad have contributed evenly to the turnover in-

said in 2012, Koc Conglomerate invested worth TL4,9 bilinvestment was made in the energy sector, the weight of the investments constituted the

effectiveness, and the projity, environmental investments tive with new model invest-

About electric vehicle and indigenous car making Durak

followed the above mentioned

invests worth 3-4 billion euro

consuming investments which are sensible to the environment and technology investments

amount regarding getting astronomic support from its govern-

2013, Koc Conglomerate will continue to attach importance ability and sustainable growth and risk management target as to increase employment and raise productivity will speed ment target worth TL6,8 billion throughout the conglom-

of view in the world related to the cars that run by electric

pertise target is to improve diesel vehicles conforming to the European norm such as Euro

to investing in these, which are used in our country and 75 percent of those are exported to Europe, USA and North Africa

P

-

while demand from foreign investors, who bought 70 per-

ing are possibly buying , while those who got them aren’t selling, convinced that the price will go further north,” Burak Isyar, an analyst at Burgan Securities in Istanbul,

USA and German brands, their foreseeing for electric vehicle in cars would be in a very low amount even in 1 percent for the

Pegasus will use the IPO proceeds to expand its network and finance airplane purchases, while some of the cash

vehicles which run with both electric and fuel, also generating electric and stocking this in the wheels of vehicle, in 5-10 Turgay Durak reminded that Ford Otosan, Tofas and Otokar altogether mostly are commer-

Continued From Page 1 egasus, which offers flights to 24 destinations in Turkey and 39 cities abroad, posted a net income of

Istanbul-based company purchased 75 planes from Airbus in December with an option to buy 25 more as it seeks to CEO of Koc Holding Turgay Durak

Pegasus is the country’s second carrier to sell shares to the public after Turkish Airlines, the biggest, according to data

2013 Taipei AMPA & AutoTronics Taipei with record breaking success

AMPA is the most important platform for opto market and auto-parts indusThis year Taipei AMPA showed growth in the number of countries and booths of 168 manufacturers from China, Japan, Indonesia, India, South Korea, USA, Malaysia,

Philippines,

participated in the exhibition and have set up 203 visitors the show has once proved its power with a

F

ounded in 1970 to help promoting foreign trade, the Taiwan External Trade Development Council tion organization in Taithe government, industry associations and several commercial organizations, TAITRA assists Taiwan businesses and manufacturers with reinforcing their international competitiveness and in coping with the challenges they world from Moscow to Sao Paolo, including one provide assistance for our exporters and importers via matchmaking, collecting market information to improve their business all

to promote Taiwan’s industrial sectors, Exhibition Department of TAITRA organizes about 32 international trade fairs,” says -

step in his career in TAITaiwan Trade Center, he had become the Manager of the Overseas Section in the Marketing Departbecame the Deputy Executive Director of Marketing Development Department and Executive Director, Strategic Marketing DeTaipei AMPA & AutoTronics Shows Tronics Shows are two of the TAITRA’s large-scale

joined

TAIPEI

hibition industry is to combine several related exhibitions and hold those shows at the same date and national visitors the benTherefore, TAITRA not only holds Taipei AMPA and AutoTronics Taipei concurrently this year, but also combines two other highly-related international exhibitions, to help overseas buyers to procure auto parts and automobile electronics products in one shows can be said to be the most professional automobile/motorcycle exhibitions offering the most ef-

AMPA

provided them the meeting opportunity with about 6,500 international buyers and 45,500 Taiwanese pro-

TAIWAN AUTO PARTS INDUSTRY tant supplying center for think that Turkish com-

business partners and to reinforce their brand im-

This year, Taipei AMPA Auto Parts & Accessories national Automobile Electime have become a fourin-one event, being held together with two other vehicular exhibitions, the 2013 Taiwan Int’l Motor-

partners for auto parts especially for the opto more companies from Turkey visiting AMPA and our other exhibitions and I think that accelerates the trade between Taiwan very important emerging market and is booming Dean of IMD Business School from Switzerland has summed up the most important 3 countries in Asia as MIT, which is M for Malaysia, I for Indone-

is why; we pay a great attention to Turkey not only for auto parts industry, but also for other industries We hope for next year, we would have more Turkish companies to come and to visit AMPA and to esrelationships with our supTaiwan’s leading autoparts suppliers include many major companies such as Tong Yang, the world’s largest manufacturer of automobile crash parts and accessories; TYC, one of the world’s largest manufacturers of automotive, motorcycle, track and bus lighting products; DEPO, leading auto lamps manufacturer that is consecutively granted the award Taiwan’s Top 20 Global Brands; Tung plier of parking sensors and Nankang Rubber Tire, the heritage of longest history among tire brands in Taiwan’s automotive parts and accessories industry is highly export-oriented, and has proven itself to be extremely competitive in

capabilities which enable them to manufacture a wide variety of different product types in large or

AN AUTO PARTS INDUSTRY The future of automotive industry lies in the Asian countries, among them Thailand and Indonesia have the highest rise in more and more global automakers boost investing in these emerging markets or operate joint-venture factories with local com-

China, Korea and such Asian countries, good vation, safety and technolhave made Taiwan the favored source of aftermarket auto parts,” points out Taiwan’s annual exports have shown steady growth and exports in 2012 inting an all-time high of port markets include USA

controversial parts and transformed themselves to develop more innovative Therefore, Taiwan’s annual exports of auto parts FUTURE OF AMPA TAIPEI AMPA and AutoTronics Taipei this year attracted 1,100 exhibitors

it drew more than 6,500 international buyers to Taiwan for procurement and consequently achieved

are around 2,800 automotive parts and accessories manufacturers in Taiwan of which 90% are oriented towards the domestic and overseas aftermarket

In 2007 Ford Motor won a ban on the import of certain Taiwanese truck parts for its F-150 truck, as the administration of former US President

parts suppliers enjoy competitive advantage because

trade agency decision in a

R&D, our integration of our highly growing ICT technology into autotronics, we have become

case Taiwan auto parts makers stopped shipping

AMPA always provides an innovative concept and

syndicate

manufacturing

smart solutions through very distinguished exhibia reliable partner, as well as high quality products within reasonable price range,” sums up Walter Yeh also ads that key companies of the automotive industry such as Audi and Fiat has sent delegations to the exhibition due to the presentation of highly innovative, R&D orientated The Innovation Awards has been the major progress and highlight in this year’s AMPA & AutoTroncisions on 4 criteria, innosafety and marketability, the jury has awarded 8

16

Made in Turkey Economic Newspaper, May 2013

IMF outlines steps to A

broad mix of policies is needed to help put the global economy on a sustained and balanced growth path, the IMF said as it wrapped up the 2013 Spring Meetings against a backdrop of an uneven In its discussion at the Spring Meetings in Washington, the IMF’s policy-steering committee, the International Monetary and Financial sharp focus on the need to

boost growth and generate

and some normality with regard to jobs,” said

a very strong focus of our discussions,” said Singapore Finance Minister Tharman Shanmugaratnam, who chaired the twenty-seventh meeting of the IMFC on

Robust policy mix IMF Managing Director Christine Lagarde underscored the focus on

and common recognition that achieving growth and jobs cannot rest on no single bullet that will get us to normal growth

keen to develop jobs and to respond to the demands of the young population in particular,” Lagarde said at a news conference following the IMFC

Turkey's 17.2 pct. of population aged 15 and over are obese

the right pace, structural reforms and monetary policy, which provides the Page 13

mix of policies can help to move the world beyond the where some countries are doing well, others are on the mend, and others are lagging behind—that has emerged since the IMFC last met in October 2012 at the Annual Meetings in

to generate jobs” is on the table, said Lagarde,

Bond rates hit historic low on Central Bank optimism

and a good policy mix which relies on not just one policy but a set of policies that will include

Russia not to ‘risk’ Turkey for T Greek Cyprus R

urkish Central Bank

ussia avoids putting its relations with Turkey at risk for energy projects off the cost of Greek Cyprus, says Energy Minister Alexander Novak, noting that Russia never harms business

Both ministers signed a number of agreements and protocols during the 12th meeting of the Turkish-Russian Joint Economic Russia will not put its relations with Turkey at risk by getting involved in big energy companies’ activities in oil and gas drilling off the coast of Greek Cyprus, Russian Energy

about Cyprus’ offshore and Russia takes notice of them,” said Novak during a press meeting after the 12th meeting of the Turkish-Russian Joint Economic Commission in Russia has close cooperation with

partner instead of former partner

Russia’s Rosneft and Transneft and

Turkey decided to suspend energy projects with Italian giant Eni in retaliation for the company’s involvement in oil and gas drilling off the coast of Greek Cyprus, Energy Minister

are all partners in

Turkish

Energy

said that Turkey could consider canceling the SamsunCeyhan deal, adding that they could

never think to harm business principles considering our friendly the Samsun-Ceyhan crude pipeline project was in an unclear state, noting that if the projects became fruitful, they could seek a new

Eni has a share in the SamsunCeyhan crude pipeline, which is slated to span Turkey from the Black Sea province of Samsun to the oil

Rosneft would not join in projects in Greek Cyprus due to the strategic cooperation agreement between Page 9

members of Monetary Policy Committee present the bank’s quarterly inflation Remarks by the Turkish Central Bank governor implying that the low-interest environment would persist have sent the yield on Turkey’s benchmark bond, which was already on a declining

trimming short-term rates if change rate rises above 120 on its index,” Central Bank a press meeting where the

bank’s quarterly inflation During the conference, the Central Bank said it kept its inflation assumption for the percent compared to the previous January report, saying it takes and will take the necessary measures to The yield on Turkey’s benchmark bond sank to a record wake of the statements, as as indicating that more interest cuts may be on the ready on a downward track caused mainly by the high liquidity by central banks

The Turkish economy’s growth slowed down steeply with -

stimulate growth, and guard against hot money fueling a sharp rise in the lira, the Central Bank had slashed on April 16 its three main

slight pickup in growth in the first quarter and the trend would continue in the second, with growth expected to be higher this year as a weak domestic demand was the reason underlying Page 12