Made In Turkey Kasım

New border gates to be opened

TOBB President, Turkey’s transformation example for its neighbors

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OBB President M. Rifat Hisarciklioglu met with the US Secretary of State Hillary Clinton in Washington D.C. Informing Clinton about the “Istanbul Forum for Economic Cooperation” involving Turkey, Afghanistan and Pakistan. Meanwhile, Hisarciklioglu invited Clinton to the meeting of the entrepreneur women from Turkey, Afghanistan and Pakistan that was held on November 2, 2011. Page 6

P Turkey’s Customs and Trade Minister Hayati Yazici

The Big 5 Show Dubai opens its doors

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November 2011 Year: 10 No: 110

ISSN 1300-2260

www.img.com.tr

aralleling the expanded foreign trade volume, State Minister Hayati Yazici has launched a new work with Iraq, Georgia and Iran to open new gates because of insufficient current border gates.

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nder the name THE BIG 5 SHOW the largest trade fair for construction will be held in the Middle East emirate Dubai. It is a meeting place for building and civil engineering professionals both international and local.

The Medium-Term Program envisages sustainable growth and development In October exports rise 10.64 pct

T Economy Minister Zafer Caglayan

urkish Assembly’s Exporters (TIM) announced exports figures for October at a meeting attended by Economy Minister Zafer Caglayan in southeastern province of Hakkari.

In the first 10 months of 2011, Turkey's exports increased 20.18 percent to $111.3 billion year-onyear.

In the last 12 months, exports surged 18.7 percent to $132.5 billion.According to the figures of TIM, exports from the agriculture sector reached $14.3 billion and exports from the industrial sector were $93.1 billion between January and October 2011. Page 6

Deputy Prime Minister Ali Babacan

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eputy Prime Minister Ali Babacan predicts that Turkey's economy will grow by 7.5 percent this year and its

Urban transformation to cost $100 bn

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urkey’s Environment and Urbanization Minister Erdogan Bayraktar said that there is need worth $100 billion in order to achieve the assertive announcement of the Prime Minister R. Tayyip Erdogan in the urban transformation. Attending a

meeting, which is held by INTES monthly, the Environment and Urbanization Minister Erdogan Bayraktar said that in order to repair the damaged buildings and demolish the illegal buildings there is need worth over $100 billion in Turkey. Page 2

Master plan of GAP achieved as 80 percent Turkey’s Development Minister Cevdet Yilmaz

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urkey’s Development Minister Cevdet Yilmaz said that 80 percent of the GAP Master Plan (Southeastern Anatolian Project) has been achieved.

Speaking at the Turkey’s Statistic Institute (TUIK), the minister Yilmaz said Southeastern Anatolian Project was not only a regional program; it is a national program including many factors ranging from education to healthcare, social services to urbanization. Page 2

Urbanization Minister Erdogan Bayraktar

Turkey’s Budget Bill to be discussed at the parliament

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urkey’s incredible growth in 2010 as well as in the first half of 2011 was mainly based on private consumption and direct investment, Mehmet Simsek, Minister of Finance said. “The keen increase in the private sector investments in particular shows that the long-term production capacity is increasing.” Page 14

As world passes 7 billion, UN urges action to meet key challenges

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op United Nations officials marked the global population reaching 7 billion with a call to action to world leaders to meet the challenges that a growing population poses, from ensuring adequate food and clean water to guaranteeing equal access to security and justice. Page 3

UN Secretary-General Ban Ki-moon

Ministers of Tourism call on decision-makers to use tourism to stimulate the economy

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he Ministers of Tourism of the major economies meeting in Paris for the 3rd G-20 Ministers’ Meeting have called on decision-makers to consider tourism within their strategies to foster the economy and when facing mounting challenges, namely that of job invention (Paris, France, 25 October 2011).

The meeting approved a declaration calling on members of the G-20 to “register the importance and impact of tourism as a topic of discussion in the coming years’ summits” considering the “significant economic and social potential of tourism for the global economy, employment and sustainable development”. Page 14

growth rate will decrease in 2012 in parallel to a decline in figures in the world and Europe.

Deputy Prime Minister Ali Babacan and Finance Minister Mehmet Simsek announced Medium Term Program for Turkish economy in Ankara.

The Medium-Term Program of the Turkish Government has presented a road map for the next three years of the Turkish economy. The program says the government’s primary focus will be directed toward achieving sustainable growth and producing more jobs.

"Sustaining the stable growth process, increasing employment, continuing the fiscal discipline, raising domestic savings, narrowing the current account deficit and as a result, strengthening the economic stability are priorities of the new program," said Babacan speaking at a press conference. He also underlined that Turkey would closely monitor developments in global economy and implement policies in line with its medium-term economic program, adding that the govern-

ment would continue to implement policies to increase private sector's investments, direct international investments and exports.

He also focused on the fact that the risk premium of Turkey decreased to below some developed economies and the risk perception of investors regarding Turkey has become lower. “As a result of the measures developed to tackle the crisis and the resilience of the economy, Turkey’s credit rating has been upgraded one grade by three credit agencies and two grades by the fourth in a short period.” He further added.

The Medium-Term Program also envisages: In order to ensure stable and sustainable growth environment, controlling current account deficit and financing it by non-debt sources are essential. With the aim of increasing global competitiveness of firms in international trade the production and marketing process of innovation and R&D based, high value added and branded products and services will be supported. Page 6

Made in Turkey Economic Newspaper, November 2011

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Master plan of GAP The Editor achieved as 80 percent Letter From

turkey@ihlas.net.tr

Mehmet Soztutan Editor-in-Chief

What lies ahead for the EU?

Turkey’s Development Minister Cevdet Yilmaz

Financial imbalances persists

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oncerns about rising Government debt levels across the globe together with a wave of downgrading of European government debt prompted a sense of urgency in financial markets.

Eurozone leaders meeting in Brussels agreed a package of measures designed to prevent the collapse of member economies due to their spiraling debt. This included a proposal to write off 50% of Greek debt, to increase the European Financial Stability Facility (EFSF) to about €1 trillion and to require European banks to achieve 9% capitalization.

"The package we have agreed is a comprehensive package that confirms that Europe will do what it takes to safeguard financial stability," said President of The European Commission, Barroso after the meeting of the Heads of State or Government of the euro area. So, markets are eager to know what is next for the EU. Unfortunately, nobody knows. Let’s wait and see.

As for Turkish economy, we have been witnessing very strong growth performance during the last six quarters. In 2010, Turkish economy grew by 9.0 percent while the growth rate jumped to 10.2 percent in the first half of 2011.

There is a similar growth pattern in the labor market. Over the last 12 months period, almost 1.4 million new jobs were produced, bringing down the unemployment rate from 10.5 percent to 9.2 percent.

Despite this robust performance, the Government officials are not losing sight of the risks threatening the global financial markets.

The Turkish Central Bank, The Treasury, The Banking Regulation and Supervision Agency have all launched several measures in close coordination. With these steps they try to avert the overheating concerns, curb excessive rise in the indebtedness ratios and solidify the financial stability.

Structural reforms implemented in the last decade are one of the main factors behind the favorable economic performance.

The Government officials are committed to enhance the effectiveness of all these reforms and consolidate the successes they have achieved so far. Their agenda comprises of labor market reforms, judicial reforms, product market reforms, reforms aimed at improving the investment environment and transforming Istanbul into a global financial centre. They also continue to firmly support research and development investments in Turkey.

Continued From Page 1 ilmaz marked that the objective of the GAP is to recover the income level and quality of life especially people in the region, remove differences between the regions, contribute to the national economic development and social stability’s targets. “For this reason, we have prepared the GAP Master Plan,” Yilmaz recorded.

Stating that in the scope of the GAP Master Plan which is foreseen the expenditure worth TL42 billion, last year TL34 billion worth of expenditure spent, Yilmaz continued, “In other words, 80 percent of the plan was realized, we try to complete the rest part in a swift way.”

“In the scope of the GAP, 10 hydroelectric power plants have been completed and 74 percent of the energy projects currently are in an active position. As for the end of 2010, 338 billion kilowatt energy was generated via the GAP and this accounts for worth $20 billion,” Yilmaz said.

Yilmaz noted that the GAP is a project which repays itself and contributes to the country’s economy.

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“As for the irrigation dams the completed number is 15 units, the dams are able to irrigate 1 million hectare land, now 308 thousand hectare area is currently irrigated,” Yilmaz said.

“Construction works are continuing in the 64 thousand hectare area,” Yilmaz said.

Yilmaz recalled that the GAP action plan has brought a new activity to the region it is concretely seen in the employment figures. While in 2009, 1 million 329 people are employed, in 2010, the number reached by 1 million 547 people with addition of 218 thousand people. So 16.5 percent of the employment increase throughout the country was realized in the GAP region in 2010.

“In the past, being remembered as agricultural and stockbreeding region, now the region is known with its factories, industrial production that manufactures in a wide range towards the Mideast, Europe, Africa and the Far East. In the upcoming years, I believe that the GAP region will be an example for the developing countries in the world,” Minister of Development Yilmaz concluded.

New border gates to be opened Continued From Page 1 he Customs and Trade Minister Hayati Yazici has started a new work to open new border gates regarding the current gates are not enough for the increased foreign trade.

According to the information from the Ministry of Customs and Trade, in recent years, the increased foreign trade urged to open the new border gates. Contacting with the neighboring countries to build the new border gates, Turkey’s Customs and Trade Minister Hayati Yazici has managed to open 9 new gates on the borders of Georgia, Iraq and Iran within 2 years.

In the scope of this, between Turkey and

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Georgia; Cildir, Canbaz Railway, Muratli and Camili border gates, on the Iraq border; Aktepe, Ovakoy, Derecik, Uzumlu border gates to be installed. As for between Turkey and Iran, Dilucu border gate to be built.

The trade volume between Turkey and Georgia increased 5 fold and exceeded worth $1 billion in past 8 years, so this development forced to open new border gates.

Between the two countries 4 new gates will be opened in addition to the Sarp and Turkozu border gates. The other neighboring country of Turkey is Iraq. The foreign trade volume between the two countries approach by $8 million regarding 1,6 million unit vehicles that pass

Turkey’s Customs and Trade Minister Hayati Yazici

through the current Habur gate which is insufficient.

At a meeting between Turkey and Iraq a decision has been made to open a new gate in the area of Aktepe-Bacuka.

Between Turkey and Iran

Trade volume has exceeded $11 billion there are Esendere, Kapıkoy and Gurbulak border gates. Dilucu border gate is targeted to be added to these current gates.

Urban transformation to cost $100 bn Continued From Page 1 tressing the importance of the urban transformation, Bayraktar said, “In order to materialize the urban transformation between $100-400 billion worth of finance to be required.” He added Brazil had allocated $400 billion for the same work.

Highlighting that the contractors should focus on high in quality building instead of luxury ones, Bayraktar noted

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that the Arab Spring has harmed much to Turkey in terms of economic and politic.

At the meeting, INTES Chairman Sukru Kocoglu said that the current condition must be analyzed very well and the criterions of contractor should be determined well. He noted that the inspection of buildings should work together with the insurance, otherwise its one leg remain crippled.

Kocoglu offered a book

Letters to the Editor

about inspection and insurance which was prepared by INTES to the Minister Bayraktar.

Kocoglu also recalled that the management of

Urbanization Minister Erdogan Bayraktar

construction plans should be taken from the municipalities and offered to the Ministry of Environment and Urbanization.

Concern about debt sustainability and support for adjustment efforts in Europe’s periphery is leading to increased market worries about potential contagion. Risks from the lack of credible medium-term fiscal plans are also elevated in other advanced countries, notably the United States, in which a deadline for raising the debt ceiling looms large, and Japan.

By contrast, overheating pressures in many emerging and developing economies are intensifying, as exhibited by rising inflation and rapid credit growth. Low interest rates in major advanced economies continue to push investors into riskier assets in a search for higher yield, potentially generating financial imbalances, particularly in some emerging markets.

The Greek default The Greek default was necessary from the moment the euro was invented. The line may now be held, if sufficient growth can be stimulated fast enough to redeem the ever mounting debts. But a precedent has been set. If Italian or Spanish debts should prove unsustainable from the revenues of their citizens, the same crisis as afflicted Greece could overwhelm the new bailout fund. Socialist economies have proved the useful idiots of banker capitalism, piling liabilities on to future generations, like Gordon Brown's PFI hospitals. The day of reckoning has come, but not yet gone.

F. Brinn/ Brussels

Merkel

H.Janke/ Paris

The risks of contagion The risks of not resolving the Greek crisis are severe. A greater sense of urgency is needed to address the crisis and reduce the risks of contagion.

Progress on financial sector repair and reform has been too slow, and policy initiatives are urgently needed to make financial systems resilient to new systemic shocks.

Advanced G-20 economies need to put in place credible medium-term fiscal consolidation that balances short-run growth fragility with fiscal sustainability. Monetary policy should support fiscal adjustment and stay accommodative where there is economic slack.

R. Gurrent/ Rome

Merkel cannot be serious. There is no way a drastic increase in the central control of the European economy will gain support from national electorates.

Nor will they accept that the European parliament offers sufficient accountability. People will not be further divorced from those who run their lives and fix their taxes. Were Germany and France to impose a single socioeconomic regime on all Europe as the price for a single currency, most governments that co-operated would be voted out of office.

F. Habsburn/ Berlin

Made in Turkey Economic Newspaper, November 2011

As world passes 7 billion, UN urges action to meet key challenges Continued From Page 1 e welcome baby 7 billion. In doing so we must recognize our moral and pragmatic obligation to do the right thing for him, or for her,” Secretary-General Ban Ki-moon said at a press event at UN headquarters to mark the milestone.

Mr. Ban noted that the world’s population reached 6 billion in 1998, only 13 years ago, and it is expected to grow to 9 billion by the middle of this century, or even a few years earlier – by 2043.

What kind of world has baby 7 billion been born into?

What kind of world do we want for our children in the future?

“But today – this Day of 7 Billion – is not about one newborn, or even one generation,” he stated. “This is a day about our entire human family.”

The world today is one of “terrible contradictions,” said Mr. Ban, noting that there is plenty of food but 1 billion people go hungry; lavish lifestyles for a few, but poverty for too many others; huge advances in medicine while mothers die everyday in childbirth; and billions spent on weapons to kill people instead of keeping them safe.

“I am one of 7 billion. You are also one of 7 billion.

Together, we can be 7 billion strong – by working in solidarity for a better world for all,” the Secretary-General said.

In an op-ed published in The International Herald Tribune, Mr. Ban said that as the world population passes 7 billion, “alarm bells are ringing.” He noted that the meeting later this week in France of the Group of 20 leading and emerging economies (G-20) is taking place against the backdrop of growing economic uncertainty and mounting inequality.

“In Cannes, leaders should agree to a concrete action plan that advances the well-being of all nations and people, not just the wealthiest and most powerful,” he stated.

The President of the General Assembly, Nassir Abdulaziz Al-Nasser, said today’s milestone is a reminder of how the world’s poorest – the socalled ‘bottom billion’ – are rendered vulnerable with little or no access to basic needs.

“Seven billion people face, almost on a daily basis – with varying degrees UN Secretary-General Ban Ki-moon s of severity – the consequences of environmental challenges, increasing poverty, inequity, wars and economic instability,” he told the event.

“But with each of these challenges comes an opportunity – 7 billion opportunities in fact,” he added, noting that these opportunities can be harnessed to reach global antipoverty targets, to invest in youth and women, and to rethink the approach to sustainable development.

The Executive Director of the UN Population Fund (UNFPA) underscored some of the challenges in an expanding global community, including in promoting the rights and health of 7 billion women, men and children.

“We must ensure that, in areas of the world where population is growing fast, we raise the status of women and young girls to be able to access education and make choices for themselves,” Babatunde Osotimehin said at the gathering.

“We also owe it to the 215 million women worldwide who require family planning and are not getting it to make it available,” he said, adding it is also necessary to ensure safe pregnancy and delivery for every woman that wants to give birth.

At the same time, he highlighted the need to give ageing populations in many parts of the world a life of dignity, and to tackle the rapid urbanization and migration which many countries have to face.

The UN human rights chief also marked the occasion, stating that the 7 billionth child is, by virtue of her or his birth, a permanent holder of rights, with an “irrevocable” claim to freedom.

“But she or he will also be born into a world where some people, given the chance, will trample on those rights and freedoms in the name of state security, or economic policy, or group chauvinism,” High Commissioner for Human Rights Navi Pillay said in a statement.

“If she was born a girl, she will have fewer choices. If born in the developing world, she or he will have fewer opportunities. If born a descendant of Africans in a non-African country, or as an indigenous person, member of a religious minority, or as a Roma, she or he is likely to face discrimination and marginalization, with a childhood rife with vulnerability, and a future adult life hedged in by exclusion.

“But he or she has also been born at a time of great hope,” Ms. Pillay added, noting that the demonstrations and mobilizations of civil society seen in 2011 in a sense “provide a birthday celebration for the 7 billionth person on this planet, and also serve as a warning to those who might be inclined to deprive this child, like many others, of his or her birthrights.”

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Turkey is New Orientation in Africa

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frica, a continent that still remains untouched and underdeveloped, quietly attracts renewed interest from all over the world. Prime Minister Erdoğan visited Somalia two months ago to raise awareness on the devastating famine, but the visit had broader meanings for Turkey. As a rising power that combines the east and west, Ankara was aiming to pronounce its unique foreign policy orientation, predicated upon its moral authority, not its military or economic clout. More importantly, Turkey was laying the foundation for its new policy for Africa. As Ankara re-orientates its foreign and trade policies, it is establishing deeper roots in Africa by making humanitarian assistance its initial point of contact. And while traditional powers, the U.S., EU, China and India, take a wait-and-see attitude towards Africa, Turkey appears to be investing in the stabilization phase and planting the seeds for a long term engagement.

Other players also have rising interest in Africa. "Africa, is going to be a hugely important continent in the future," says chairman of DeBeers, while explaining how businesses can benefit from entering Africa. He adds that "America is currently a bit behind China. I don't think they should lose or slip back any further."

Also the EU has come to a point of policy adjustment in its relations with African countries. Brussels seeks to understand and evaluate the trends, opportunities and threats in this continent where they had dark colonial exchanges in the past.

Despite the growing economic clout of emerging partners, the EU remains by far Africa’s most significant trading partner. It accounts for 44 percent of the continent’s total trade, the equivalent of three times that of China. The figure is down from over 53 percent in 2000, reflecting a significant decrease in market share.

However, the downturn is relative rather than absolute. Europe still remains a significant economic partner for Africa.

While Europe remains the most important source of FDI for African countries, percentage inflows have also decreased. In a sample of 10 countries the EU accounted for 44 percent of FDI inflows between 2005 and 2010, down from 55 percent between 2000 and 2004.

Europe is not currently concerned about losing market share or having its strate-

gic interests. The EU is already by far the most open market for African products and will stay in that pole position for a while. The volume of commercial exchanges between Africa and the EU has doubled over the last decade. The EU imports more agricultural products from Africa than the US, Canada, Japan and Australia combined.

Despite such reassurances, in Brussels the attitude towards Africa seems frustrated. While rhetoric suggests a shift in paradigm from a purely developmental approach to something more multilateral and commercial, the mood is not equally positive in all quarters of the European Commission.

EU’s trade with Africa is still dominated by raw materials, with diversified African exports to Europe actually halving over the last three years from 6.7 percent to 3.3 percent of total exports.

“The evolution I see in the trade with Africa is certainly not encouraging as far as Europe is concerned,” says an EU trade commissioner. “It’s largely extraction, but more importantly we are lacking the development of a support structure for trade.” European side should decide whether they will be just the guys that have to send in the marines and the money after a crisis, or a real strategic player like China. The entry of China in African markets is going to force Europe and other countries including Turkey, to review their African strategy and long-term views.

For those who want develop a sound orientation towards Africa it is time to depart from the traditional idealistic vision of just development aid and human rights.

Turkish policy makers and business leaders have to be doing all they can do to support businesses in Africa for lasting development, to produce faster growth and more Prof. Dr. İsmail Kaya jobs.

Made in Turkey Economic Newspaper, November 2011 GROUP CHAIRMAN: H. FERRUH IŞIK

After a break, does it resume?

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ears are spreading in Eurozone regarding up his political life with the same reason. It is feared that the Eurozone’s third biggest econosovereign debt crisis.

So, it is expected this situation to lead a my, Italy could become the next victim of the debt crisis. recession in the global economy once again.

Without recovering completely from the effects According to the commentators, "Greece is of the global economic crisis, which broke out responsible only for 2% of the eurozone's GDP, in 2008, the second leg of the crisis is now pos- but Italy as the third biggest economy behind ing to stage both in Europe and in other devel- Germany and France, its effect would be worsen than Greece. oped countries of the world.

In the entire world there is an anxiety about The fear is that the Eurozone debt crisis can spread through Europe; it would have a big global crisis after a short break. impact on the international According to OPEC it is economy. At the same time, another challenging year. there have been concerns While the organization states about a slowdown in the US its concern, shows some as it struggles to boost the indicators; as deepened globgrowth and tackle stubbornal macroeconomic uncerly high rates of unemploytainties, heightened risks surment. rounding the international Meanwhile, Head of IMF financial system, the soverLagarde also urge the goveign debt crisis in the euroernments to act boldly; othzone, social unrest in many erwise the world economy parts of the world, the natuaround the world runs the ral disasters and ensuing Ibrahim Kupeli risk of downward spiral of nuclear catastrophe in ikupeli@img.com.tr uncertainty, financial instaJapan earlier this year, bility and potential collapse excessive oil price volatility of global demand. and increased speculator activity on the main As for the reason why Greece plunged into the commodity exchanges.

In Eurozone, Greece has been moaning under debt crisis is shown that the country has been the heavy sovereign debt. Despite huge bailout living beyond its means since even before it program of European Union since 2010, the joined the euro, and its rising level of debt has country cannot escape from the debt crisis. The placed a huge strain on the country's economy. debt crisis in Greece seems to be effective in the The Greek government borrowed heavily and other Eurozone countries as well. Other went on something of a spending spree after it European countries can face with the same adopted the euro.

Public spending soared and public sector wages challenge.

Unwanted developments in the economy of the practically doubled in the past decade in the region urged the EU to revise the expectations country. It has more than 340 billion euros of debt - for a country of 11 million people, about in their economy.

European Union lowered its growth forecast 31,000 euros per person. from 1.8 percent to 0.5 percent for the year However, whilst money has flowed out of the government's coffers, its income has been hit by 2012.

The debt crisis which has been broken out in widespread tax evasion.

Greece months ago, it is predicted would rock The developments in the Eurozone economy remind something; why such a big fault in their entire Europe.

The economic measures which were taken by economy was not perceived before reaching the government pushed the demonstrators to this level?

This huge error in the economy management the streets protesting the government.

The events and protests in Greece forced Greek should not have been overlooked. In concluPrime Minister Papandreou to resign and then sion, seemingly there had been lack of liability Italian Prime Minister Silvia Berlusconi ended in the economic management.

THOUGHT OF THE MONTH

r o um

Logic is a systematic method of coming to the wrong conclusion with confidence.

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hen the man in the street says: "If it ain't broke, don't fix it," the lawyer writes: "Insofar as manifestations of functional deficiencies are agreed by any and all concerned parties to be imperceivable, and are so stipulated, it is incumbent upon said heretofore mentioned parties to exercise the deferment of otherwise pertinent maintenance procedures." **************** In the USA, everything that is not prohibited by law is permitted.

In Germany, everything that is not permitted by law is prohibited.

In Russia, everything is prohibited, even if permitted by law.

In France, everything is permitted, even if prohibited by law.

In Switzerland, everything that is not prohibited by law is obligatory. ********************* A junior partner in a firm was sent to a far-away state to represent a long-term client accused of robbery. After days of trial, the case was won, the client acquitted and released. Excited about his success, the attorney telegraphed the firm: "Justice prevailed."

The senior partner replied in haste: "Appeal immediately." *********************** How many lawyers does it take to change a light bulb?

"How many can you afford?"

It only takes one to change your bulb...to his.

Two. One to change it and one to keep

interrupting by standing up and shouting "Objection!"

Three. One to do it and two to sue him for malpractice.

Three. One to turn the bulb, one to shake him off the ladder, and the third to sue the ladder company.

Three. One to sue the power company for insufficiently supplying power, or negligent failure to prevent the surge that made the bulb burn out in the first place, one to sue the electrician who wired the house, and one to sue the bulb manufacturers.

Fifty four. Eight to argue, one to get a continuance, one to object, one to demur, two to research precedents, one to dictate a letter, one to stipulate, five to turn in their time cards, one to depose, one to write interrogatories, two to settle, one to order a secretary to change the bulb, and twenty-eight to bill for professional services.

How many lawyers does it take to screw in a light bulb?

None, lawyers only screw us.

You Might Be a Lawyer if...

• you are charging someone for reading these jokes.

• you believe that a forty words' sentence is a short one.

• you have a daughter named Sue and a son named Bill.

• you can look at a contract and instantly tell whether it's verbal or written.

• your other car is a BMW. • when you look in a mirror, you see a lawyer.

THE ECONOMI$T -those who cannot forecast interest rates, and - those who do not know that they cannot forecast interest rates.

Well!

What about economists?

SUDOKU

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3

3

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2 4

2 4

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Made in Turkey Economic Newspaper, November 2011

ERAL Welding Machines at service of industry

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Kale Termos maintains its serves since 1975 to date Ozan Kerem Devellioglu Production Manager

K

Erol Karsavran of ERAL Co.

stablished in 1993 as Altinel Co., the company renamed itself in 2011 as ERAL. As an innovative company serving to the industry sector Eral has become a leading company to apply and introduce new technologies. Determined to produce all requirements of the plumber works at the most up-to-date technologies, Eral has been improving and developing itself every day making its presence felt in domestic and world markets.

Talking to Made in Turkey Newspaper, Mr. Erol Karsavran, chairman of the company, said, “We have a respectful place in the industry. We are serving to very big companies at home and abroad. Our main power is coming from our satisfied customers. We are very good

8

at manufacturing of PPRC welding machine sets, simple welding machines, plastic pipe cutters, manual test pressure pumps, welding screw plates, plastic pipe sharpeners, etc. We are selling these products

to more than 30 countries which mainly includes Russia, Greece, Romania, Egypt, UAE, Iraq, Iran, Saudi Arabia, Kwait, Morocco, Azerbaijan, Poland, Algiers, Germany and Italy.”

ale Termos E l e c t r i c Household Appliances Industry has been serving to many customers both in the domestic and market abroad with its high quality and economical products in the household appliances sector since 1975 with its strong infrastructure.

“Our company manufactures auto thermoses ranging between 7,5 – 60 lt for various aims, beverage thermoses with tap between 5 – 25 lt, professional and home type fruit presses, small household appliances; in addition to the production the firm manages its exports and domestic distribution work by itself,”

Ozan Kerem Devellioglu, the of production manager the firm said.

Since its foundation to date, Kale Termos has made principle to itself following the technological developments closely, increasing production capacity and quality, as well as

growing.

Together with the experi-

ence and management of the company passing through the 3rd generation, Ozan Kerem Devellioglu summarized the determined objectives by saying, “Beginning production in 1975 on a closed area of 500 sq meters, as our firm’s production was restricted with 20,000 unit thermos per annum in 1985 locating on an area of 2000 sq meters, our firm has

achieved 200,000 unit thermos production and 50,000 unit fruit presses capacity per

annum by enlarging its production area to 7000 sq meters, as well as product range in 2010 with the new investments.

We, as Kale Termos, offer our products to our customers on behalf of making no concession on high quality ranging from the raw materials’ input to finished product by being registered in every stage via the ISO and CE certificates.

As firm, our next 10 years

target is to raise production 50 percent without making any concession on our high quality and customer satisfaction. In the direction of this objective, we will continue to invest by enlarging our product range.

Who is Ozan Kerem Devellioglu After graduated from Saint Michel French High School, he completed its university degree at the Istanbul Bilgi University. Later he got his master degree on Sales & Marketing in France. As the production manager of Kale Thermos which is a family company, being assigned to the duty in 2007, Devellioglu leads the future of the firm.

A domestic-made helicopter project to launch

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ccording to the statement of Koksal Liman, an executive from Defense I n d u s t r y Undersecretariat, the decision to begin the project had been made, and studies were under way on how to implement the project.

Liman said that helicopters manufactured

by Turkey could be sold to the neighboring count r i e s , because of Turkey was developing its relations with them.

noted that Turkey was a good market to design and manufacture helicopters, adding that T u r k e y ranked the 9th in helicopter use, but it did not take

Liman

place in the list of helicopter manufacturing industry.

Stating that they were planning to manufacture at least four models Liman recorded that they prepared the required budget for the project.

Liman noted that Turkish-made helicopters would be manufactured within five years.

Special products from Pierre 6 companies of Sanko rank Cassi for Men’s Fashion world in top 500 of Ekonomist Hakan Alkan

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ne of the foremost magazines of the business world, Ekonomist posted its traditional Anadolu Top 500, 6 companies of Sanko Holding took place in the list.

According to the statement of Ekonmist Magazine, the evaluation, which was conducted for the companies act in Anatolia excluding the provinces of Istanbul, Ankara and Izmir, was prepared according to the net sales achieved in 2010.

On the list of Ekonomist Anadolu Top 500, while ranking 14th in the previous list, the Textile Enterprises of Sanko Holding raised two lines to 12th line, Sanko Marketing listed on 39th line.

As for the construction companies of Sanko Holding, Çimko and Beton ranked on 49th line jumping two lines, Sanko Foreign Trade listed on 67th line, decreasing 21 lines.

Super Film Ambalaj, the company of Sanko in the packaging sector ranked on the 70th up 10 lines over the previous one. Another company of Sanko, Gaziantep Private Healthcare Hospital (Special Sani Konukoğlu Hospital) ranked on 480th on the list this year.

By the sectors Super Film Packaging ranked first among the 8 companies in the packaging sector list. As for Çimko Cement and Concrete firm ranked second among 13 companies.

In the textile sector which included 107 companies on the list, Sanko Textile achieved being first, Sanko Marketing fourth.

Among 31 companies which were evaluated as TradeService sector Sanko Foreign Trade ranked fourth, Gaziantep Private Healthcare Hospital queued 30th.

While Sanko Holding ranking 3rd Group having most companies in Anadolu Top 500, Super Film Packaging became 4th in the first 20 companies in terms of export increase by raising its exports rate 281.1 percent.

Previous researches Meanwhile, Sanko Holding had taken place with its 4 companies in a study which was conducted by “Capital Magazine Top 500 Private Companies”.

In the other study which was conducted based on turnovers including the year 2010, Sanko Textile Enterprises ranked 119th, Sanko Marketing 230th, Çimko Cement on 251st and Sank Foreign Trade on 303rd line.

“Among 25 Companies Rose Exports Most”, Sanko Textile Enterprises achieved ranking 4th.

ISO Top 500 On the other hand, Sanko Holding also achieved taking place with its 3 companies in the Turkey’s Top 500 companies which were conducted by the Istanbul Chamber of Industry.

In the study which was conducted in 2010 based on the sales via production, Sanko Textile Enterprises Ind. and Trade Inc. took place on 64th, Çimko Cement and Concrete Ind. Trade Inc. on 147th, Super Film Packaging and Trade Inc. on 191st.

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he firm launched its business activity in the textile sector as Pierre Cassi for men’s clothing and readyto wear sector in 1970 in Istanbul.

The first brand was produced by Huseyin Ural under the name of ‘By Oral’ in men’s fashion world. In the product kinds of the firm as ongoing production, there are suits, shirts, trousers, jackets, big size, overcoats, hooded overcoat, sport jackets, light overcoats, neckties, cuffs, sport trousers. Defining fashion as “dressings which are fit to you”, Pierre Cassi underscored that color and product combination is very important rather than daily wear. Stating now textile sector has entered into a period to be able to hold the assets in the hand, Cassi recorded that the current policy has turned into a system to

protect assets that in your hand.

As for dealership issue, indicating that they had been struggling seriously, Pierre Cassi said, “We are opening our men’s wear collection to the entrepreneurs who offer more than one brand at their stores.

We provide 100 pct win with our products. As for the features of stores, that ‘Pierrecassd Shop’ must not exist in the area of the store. The features that are sought in the investor to own experience of retailer, trade and store business management and dealership work should be managed personally.

Assurance: letter of guarantee in the amount that is determined by us in proportion with our seasonal working volume and cheque are wanted. The officials of the firm indicated that there were much work to be made in the area as Pierre Cassi brand, noting that they

were considering adding bigger store chains to their outstanding and con-

crete steps firstly in their franchising and dealership issue.

Industrial production increases by 12.0% in Sept.

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ndustrial Production Index in September 2011 increased by 12.0% compared to same month

in previous year.

Turkish Statistic Institute (TurkStat) posted industrial production figures in September.

According to this, in the sub sectors level of industry, mining and quarrying index increased by 2.2%, manufacturing index increased by 12.8%, electricity, gas, steam and air conditioning supply index increased by 9.9% in September 2011 compared to the

same month of the previous year.

Calendar adjusted industrial production index also increased 1.5 percent.

Calendar adjusted production index in September 2011 increased by 6.0% compared to the same month of previous year and seasonal and calendar adjusted industrial production index increased by 1.5% compared to previous month.

Made in Turkey Economic Newspaper, November 2011

5

New SelfCooking Center® whitefficiency® in the market

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he new SelfCooking Center® whitefficiency® was launched onto the market since 12 September. The core of this innovation is called HiDensityControl.

According to the details provided by the market leader, HiDensityControl is a quantum leap forward in terms of cooking output and quality. You can load 30 % more – in the same size cooking cabinet. Consumption of resources is also reduced by 20 % compared to conventional combi-

steamers. The range of applications has also been greatly extended with HiDensityControl.

In addition to fresh pasta that can now be prepared using the new regulated and powerful steam generation function, baking is another of the strengths of the new SelfCooking Center® whitefficiency® .

Another new feature is Efficient LevelControl®.

It indicates to the user which different products can be cooked at the same time. This speeds up food production by up to 30 %.

In addition, each rack level is individually monitored. Efficient LevelControl® intelligently corrects the cooking time according to the amount of food and how often, and for how long, the door is opened, ensuring that everything is cooked to perfection – every time.

Operation of the new SelfCooking Center® whitefficiency® is brilliantly simple. It constantly learns and automatically adjusts itself to the habits of the individual user. MyDisplay

allows the user interface to be tailored exactly to suit. Any functions that are not needed are simply removed from the display.

This makes the SelfCooking Center® whitefficiency® safe and reliable to operate right away for temporary staff, with very little training required. The risk of incorrect operator input is eliminated.

The new CareControl feature brings a further con-

siderable growth in efficiency. It detects the level of soiling and care status and always suggests the

right cleaning level. This saves up to 40 % in terms of energy, water and chemicals.

Wyndham Hotel Group announces second Wyndham Hotel in Turkey

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STANBUL Wyndham Hotel Group, the world’s largest hotel company based on number of hotels

and part of Wyndham Worldwide Corporation (NYSE: WYN), announced the signing of an agreement to open a

second franchised Wyndham Hotels and Resorts® property in Turkey, the Wyndham Istanbul Kalamis Marina.

The hotel, owned by Reisler Group, is due to open in August 2012.

Wyndham Hotel Group signed an agreement with the Wyndham Istanbul Kalamis Marina with Reisler Group, following the Wyndham Petek Istanbul. Wyndham Hotel Group currently has seven hotels open and operating in the country under the globally renowned Ramada® brand.

“Turkey plays an important role in our plans to expand Wyndham Hotel Group’s portfolio in Europe and the Middle

East and continue providing travellers with firstrate accommodations around the world,” said Michael Poynter, president and chief executive officer of Wyndham Hotel Group. “The opportunities in Istanbul make for an exciting time to introduce a second Wyndham hotel here. With its incredible location and five-star offerings, the addition of Wyndham Istanbul Kalamis Marina further demonstrates our commitment to work with respected partners to bring highcaliber products to key, vibrant markets.”

With stunning views of the Marmara Sea, this fivestar property will be located directly across from the

Theft of the hotel equipment for last!

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s HI-TECH Magazine we have researched “The technology to prevent the theft of hotel goods.” UHF RFID chips the safety system have been used in some hotels in the world and made of a Turkish firm. Declaring that they led the way by taking out its patent of this technology Kutluhan Usta, one of the young engineer of Ustek RFID solutions company said that, “We can follow where the stolen goods is thanks to tracking system with chip.”

Customers staying in hotel steal especially the textile of the rooms.

Hoteliers think that the small-scale items will normally be taken as a souvenir but taking the high costs materials such as bathrobes and towels leaves them in a difficult situation. Studies show that even the inventory stock can be stolen abroad. The guests especially have taken towels, bathrobes, curtains, bed covers, make-up cotton, shower caps, ashtrays, and even a large number of goods such as television. This situation is very uncomfortable for hotels, and they look for ways to prevent the theft.

A Turkish inventor offers a solution for the common problem of the hotels in the world.

Used in textile products before Ustek RFID Solutions Company has brought in an important project to prevent the loss of goods in hotels new. They can

follow easily where the stolen goods are thanks to tracking system with chip. The cycle of textile between hotel and laundry room has been followed by the system, which the textile products have been followed initially. Thanks to hightech tracking of merchandise can be developed easily. . With minor changes of the infrastructure hotels can easily follow not only textiles but also all their valuables.

Solution-focused The system runs by inserting the radio-frequency smart chip to objects with the detection of the reader antennas, which are placed in strategic areas in the hotel. In this way, where the hotel products and about to exit through which door are can be followed easily. Giving information about the system Kutluhan Usta said that,” he door can be followed easily. The system provides information about the Master Kutluhan, "We have developed the RFTT (Radio Frequency Textile Monitoring) system for industrial laundry system primarily. In time we mind it to use in other sectors. We have developed a solution for following all things of the hotels and restaurants and forgetting their troubles at the end of the project.”

Even TV and vase can be traced Stating that being used in textile products initially the system has been used

in other goods of hotels successfully now Usta said that, “We are able to follow other precious materials of hotels by changing the type of chips and using the same data base and the communications. We can keep track televisions, phone, and the vase. In case of moving the materials in the area, where our recipients are there, we get a signal, which acts as they go through.”

Chip is insensible of anyone Declaring that they place the chips in the interior of items and anyone can not be immediately noticed due to adhesion of the products and be very small Usta said: "The products are washed and ironed. The stolen goods can be traced with the help of a monitor screen. " It is proof even in textiles Mentioning that the hotels and restaurants forgot their troubles with RFTT System Usta said that, “We test our chips up to 300 washes. This figure is even higher than that of textile life.”

Great interest for patented product from abroad!

Warning about that this product has been invented by others in recent days spreading rumors by someone Usta said that, “We as a company of the RFID solutions we have been worked on this product sine 2006 and we started to use this product in the market in 2009. We continue to develop everyday. Many companies from abroad want

information from us about it. Interestingly, being developed with our knowledge and technologies in the world the applications are recognized as a foreign innovation in the Turkish press. We have a patent under the multi-readhead in intensive environments. We can provide to detect UHF chips of the cramped volumes such as the dirty sacks, luggage, and containers thanks to this patented technique elementarily.”

Clothes can be count easily Talking about that they developed the RFTT system for family-owned laundries initially Usta said that, “In this way We trace all linens such as bathrobes, towels and sheets. We can realize dirty / clean delivery of hands thanks to the devices, which we put in hotel, within seconds, and error-free and we share the information we collect over the web with all of our customers live.

Our customers can follow active (real) inventory, the age of bathing products, and all losses elementarily.”

Hotels lead the guests to stop or not!

Commenting that the hotel managers say nothing for small items, which is taken out of the hotel, Usta said that “Of course, the decision is up to the hotel. Whether they stop and ask for their belongings from the guests or they do not say anything. We see the both application in the sector.”

exclusive Kalamis Marina on the Asian side of Istanbul. The hotel will feature 210 rooms over five floors, one presidential suite, 14 meeting salons in various capacities, two bale salons for 300 and 600 people. A large spa and fitness centre will offer 12 treatment rooms, one indoor pool and one rooftop pool.

Dining options will include three restaurants: one offering all-day dining and two speciality restaurants. A lobby bar and room services will also be available.

About Wyndham Hotel Group Wyndham Hotel Group, part of the Wyndham Worldwide family of com-

panies, is the world’s largest hotel company with approximately 7,190 hotels and approximately 611,200 rooms in 65 countries under the hotel brands: Wyndham Hotels and Resorts®, Ramada®, Days Inn®, Super 8®, Wingate by Wyndham®, Baymont Inn & Suites®, Microtel Inns & Suites®, Hawthorn Suites® by Wyndham, TRYP by Wyndham™, Howard Johnson®, Travelodge® and Knights Inn®. In addition, the company has a license agreement to franchise the Planet Hollywood Hotels, Dream® and Night® brands and provide management services internationally.

All hotels are independently owned and operated excluding certain Wyndham and international Ramada hotels which are managed by

Wyndham Hotel Management, Inc., one of its affiliates or through a joint-venture partner.

Wyndham Hotel Group is based in Parsippany, N.J.

Made in Turkey Economic Newspaper, November 2011

6

The Medium-Term Program envisages sustainable growth and development Continued From Page 1 n order to increase market diversification in export within the context of regional strategies, trade volume with African, Asia-Pacific and similar country groups, which are relatively less influenced by the global crisis, will be increased.

Market entry projects and action plans will be prepared and carried out within the “Country Desks” aimed at promoting trade relations with the determined countries. Besides, the market entry barriers that exporters face will be identified and attempted

I

In October exports rise 10.64 pct Turkey's exports rose by 10.64 percent to $11.8 billion in October 2011 compared with the same month of 2010 Continued From Page 1 n October 2011, the most exports have been achieved by the automotive sector with $1 billion 797 million. This sector followed by the chemical matters and products with $1 billion 266 million, ready-towear sector became third with $1 billion 324 million, and then steel sector ranked fourth worth with $1 billion 324 with a slight difference.

In the industrial group which achieved 82.23 percentage of the total export of Turkey the increase was 10.12 percent to $9 billion 766 million. In the agricultural group which composes 15 percent of

I

the total, exports became $1 billion 775 million, increasing 17.79 pct, as for mining group which composed 2.83 percent of the total exports became $336 million, decreasing 6.45 percent.

Most exports based on the 20 countries constituted 68 percent of the total exports. In October, according to the results in ten months of the year China and Egypt became the countries take place at the top, as for lowest performance countries were the UAE and Netherlands.

Mehmet Buyukeksi, Chairman of Turkish Assembly’s Exporters, said that they advocated the stabilized currency,

the interference of the Central Bank was appropriate, adding that when the US$/TL parity dropped under TL1,7 also the central bank must measure to balance the

TIM Chairman Mehmet Büyükekşi

currency. He noted that despite recession in the EU market in recent period, as for the markets where we have progressed continue their tempo in the same speed.

to eliminate.

In order to decrease high dependency of production and exports on imports, domestic production capacity intensifier policies and supports will be maintained especially in intermediate and capital goods.

Harmonization with EU Acquis will be improved and the supply of safe and quality products to domestic and foreign markets will be provided.

Furthermore, regulations will also be made compatible with product safety audit systems.

To improve export credit and guarantee schemes, the

Deputy Prime Minister Ali Babacan

raise in Export Credit Bank of Turkey’s resources will be maintained. In the framework of “Input Supply Strategy” as a part of “Output Oriented Export Strategy”, necessary amendments and adjustments will be made parallel with developments occurring in the inward process-

ing regime, domestic production and control conditions.

For the revitalization of Silk Road, efforts to enhance the cooperation among the customs administrations on the route lying from Japan to Turkey, to facilitate trade and to accelerate border crossing will be pursued.

TOBB President, Turkey’s transformation example for its neighbors Continued From Page 1 isarciklioglu also spoke to Clinton about the Partnership for New Beginnings Summit to be held on the 2nd of December hosted by TOBB. Turkey’s transformation process is an example for its neighbors Speaking at the 30th annual conference held by the DEIK/Turkish American Business Council (TAIK) and Turkish-American Council (ATC), Hisarciklioglu said that the Turkish American relations who have left half a century

H

at the back, it is important for the financial aspect of these relations to be developed further. Emphasizing that the transformation process Turkey is going through is very important for its neighbors especially with the occurrence of the Arabian Spring.

Hisarciklioglu went on to say: “Thirty years ago, when the first ATC Turkey Conference was held, Turkey was a different country. It had an export volume of 3 billion dollars.

90% of that was agricultural goods. However, today Turkey produces automotive, machinery and elec-

tronics. Our export volume has exceeded 130 billion dollars. Our goal is to reach an export volume of 500 billion dollars in the next 10 years.”

Touching on the “model partnership” concept announced by the President of the USA, Barack Obama, Hisarciklioglu said, “If model partnership is to help Turkey’s transformation process, it must ensure contacts between our entrepreneurs, investors and scientists. It must be accepted that our relations have yet to reach this level.”

Hisarciklioglu stating in his speech that even though

Turkey is the 16th largest economy in the world, it only has a 0.2% market share in the USA, it should take more and so the joint investments between Turkey and the USA are very important.

TOBB President Hisarciklioglu emphasized that the support of the USA for Turkey’s EU accession process is very important and requested that the USA also assist with resolving the issue of Cyprus. He also expressed his gratification for the cooperation of the USA in Turkey’s fight against terror and the Van earthquake.

Islamic Investment and Finance Forum held in Istanbul

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STANBUL- As the global Islamic Finance industry continues to grow, new markets and new opportunities are starting to emerge. Islamic Investment and Finance Forum was held in Istanbul. The event aroused great interest from the global investors.

Vanessa Heywood, Conference Director , Islamic Investment and Finance Forum 2011 pointed out “We are constantly exploring new ideas for Islamic Investment and Finance events – new topics and new markets. We would be delighted to receive your thoughts on the themes, markets and topics that you would like to see covered in a future event and who you would like to see included in the speaker faculty.”

Bringing together industry representa-

tives from 17 countries, the event provided a unique and timely platform for the review of emerging Islamic investment and finance opportunities in both established and emerging Islamic finance markets, with a special focus on Turkey, Central Asia and Africa. Featuring contributions from shariah compliant institutional investors, leading Islamic asset and fund managers, top management of Islamic banks, Islamic private equity players, takaful providers and development banks, the Forum provided a wealth of expert insights into the opportunities and challenges ahead for the industry.

As known, Turkey's 2011 Finance Bill included tax neutrality measures for sukuk leading to high expectations of a wave of

Turkish corporate sukuk. Gulf Islamic banks have been investing in setting up Islamic financial institutions in the CIS countries and African nations are increasingly exploring sukuk as a means of financing essential infrastructure development.

Islamic Investment and Finance Forum particularly focused on the following major topics: -Is Turkey set to become an international financial centre, and if so, what does this mean for Istanbul as an emerging Islamic finance hub?

-What is next for participation banking in Turkey?

-What recent developments in Turkey’s legislative framework will facilitate the growth of Islamic finance in turkey?

-How fast is the par-

ticipation banking sector growing in Turkey, and what will be the next steps in its development?

The topics also included: -Catalysing Islamic finance in majority Muslim markets -The potential for Islamic finance in Egypt post regime change -The role of Kazakhstan in developing Islamic finance in the CIS -Maximising cross border portability for Islamic funds A recent International Monetary Fund (IMF) report has argued that the rapidly growing Islamic banking sector may accelerate economic development of the Muslim world. The report says half of the deposits of 1.2-1.6 billion Muslims will be in Islamic banks in 2015.

Made in Turkey Economic Newspaper, November 2011

7

Turkey produces 3.0 mmt of crude steel in September 2011

Spending of R&D up 14.6 percent in 2010

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T

n the first nine months of 2011, Asia produced 728.3 mmt of crude steel, an increase of 9.5% compared to the same period of 2010. The EU produced 135.7 mmt of crude steel in the first three quarters of 2011, up by 4.3% compared to the same period of 2010. North America’s crude steel production in the first nine months of 2011 was 89.3 mmt, 6.1% higher than the first nine months of 2010.

China’s crude steel production for September 2011 was 56.7 mmt, an increase of 16.5% compared to September 2010.

Elsewhere in Asia, Japan produced 8.9 mmt of crude steel in September 2011, a decrease of -3.8% compared to the same month last year. South Korea’s crude steel production for September 2011 was 5.5

mmt, 17.7% up compared to September 2010.

In the EU, Germany’s crude steel production for September 2011 was 3.7 mmt, an increase of 10.3% on September 2010.

Italy produced 2.6 mmt of crude steel in September 2011, 11.5% higher than September 2010. France produced 1.3 mmt of crude steel in September 2011, 4.2% up compared to September 2010.

Turkey produced 3.0 mmt of crude steel in September 2011, 16.9% higher than September 2010.

The US produced 7.2 mmt of crude steel in September 2011, an increase of 8.9% compared to September 2010.

Brazilian crude steel production for September 2011 was 2.8 mmt, 3.8% higher than September 2010.

The world crude steel capacity utilisation ratio of the 64 countries in September 2011 rebounded slightly to 79.1%, 1.8 percentage points higher than in August 2011. Compared to September 2010, the utilisation ratio in September 2011 increased by 3.5 percentage points.

About worldsteel The monthly crude steel capacity utilisation ratio is calculated based on crude steel production and capacity information available at worldsteel. The capacity information is based on publicly-available data, updated twice a year and verified through worldsteel’s membership.

The World Steel Association (worldsteel) is one of the largest and most dynamic industry associations in the world. worldsteel represents approximately 170 steel

producers (including 18 of the world's 20 largest steel companies), national and regional steel industry associations, and steel research institutes. worldsteel members represent around 85% of world steel production.

Economic crisis let global CO2 emissions decrease According to latest tatistics of IEA, the 2008-2009 economic crisis decreased global CO2 emissions

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ue to the 2008-2009 economic crisis, global CO2 emissions decreased for the first time since 1990, but a large rebound is anticipated in 2010.

While carbon dioxide emissions in nonAnnex I countries continued to grow in 2009 (+3.3%), emissions of Annex I countries fell sharply (-6.5%), according to a new publication from the

International Energy Agency. Most of the reduction, however, comes from a decrease in the energy consumption due to the 2008-2009 economic crisis.

Statistics for 2009 show that emission levels for the group of countries participating in the Kyoto Protocol – a multinational agreement to mitigate climate change – were just shy of 15% below their 1990 level.

These findings are contained in a free document which contains highlights from CO2 Emissions from Fuel Combustion 2011, an IEA statistics publication which will be released in November 2011. The free document, which contains all the latest information on the level and growth of CO2₂emissions, has been released in the lead-up to the UN climate negotiations in

FlexFuel Vehicles Aims Using High-Level Ethanol Blends

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new public education project to reach drivers of FlexFuel Vehicles (FFVs) by working with state Motor Vehicle Administrations (MVA) by the Alliance of A u t o m o b i l e Manufacturers and the Clean Fuels Foundation.

As a part of the national FFV Awareness Campaign, the “FlexFuel Vehicle/Motor Vehicle Administration” project will work with MVAs in six states on outreach opportunities such as developing an FFV owner database, vehicle registration and license renewals, safety inspection and emissions notices, and including information with the energy/emergency preparedness program, state websites,

and at point of service. The six states are Iowa, Kansas, Nebraska, Maryland, Georgia, and Florida.

“Working together with MVAs and automakers, we want to reach drivers of FFVs to make sure they are aware that their vehicles have the capability of using high-level ethanol blends,” said FFV Awareness Campaign Manager Burl Haigwood. “Educating drivers about fuel choice will result in proper refueling and protect ethanol’s stellar 30-year marketplace reputation.”

The Alliance of A u t o m o b i l e Manufacturers CEO Mitch Bainwol says they represent 12 companies of FFVs that see the need for consumer education.

“FlexFuel Vehicles are a growing segment of the auto pool. We are pleased to help sponsor this project to increase the

use of alternative fuels like E85 and in so doing, educate drivers to avoid the potential for misfueling.”

FFV Awareness Campaign supporters noted that reaching drivers in cooperation with the DMVs is essentially a no-to-low cost means to help states meet their goals to reduce petroleum use, support new biofuel technologies, and improve air quality.

The Alliance now joins EPA, USDA, sev-

eral Clean Cities Coalitions, and over 30 Ag/Energy/Environment al organizations that support the FFV Awareness Campaign.

Flexible fuel vehicles (FFVs) are designed to run on gasoline or a blend of up to 85% ethanol (E85). Except for a few engine and fuel system modifications, they are identical to gasoline-only models.

FFVs experience no loss in performance when operating on E85.

However, since ethanol contains less energy per volume than gasoline, FFVs typically get about 25-30% fewer miles per gallon when fueled with E85.

FFVs have been produced since the 1980s, and dozens of models are currently available.

Since FFVs look just like gasoline-only models, you may be driving an FFV and not even know it.

Durban to provide input and support for the UN process.

Key findings include: 1.

Two-thirds of global emissions for 2009 originated from just ten countries, with the shares of China and the United States far surpassing those of all others. (Combined, these two countries alone produced 41% of the world’s CO2emissions) 2.

Between 1990 and 2009, CO2emissions from the combustion of coal grew from 40% to 43% and natural gas from 18 to 20%, while CO2emissions from oil fell from 42% to 37% 3.

Two sectors – Electricity and heat generation and transport – produced nearly two-thirds of global CO2 emissions in 2009, up from 58% in 1990.

urkish Statistic Institute or TurkStat revealed the expenditures about research and development studies in 2010. According to the survey results in public sector, foundation universities and business enterprise sector and calculations based on higher education sector registers for state universities, Gross Domestic Expenditure on Research and Development (GERD) increased 14,6% compared to the previous year and reached to 9,268 Million TL in 2010, in Turkey.

In Turkey, share of GERD in GDP was 8.4 per thousand in 2010. It was 8.5 per thousand in 2009.

R&D expenditure of higher education sector has the biggest share with 46.0% in total R&D In 2010, 46.0 per cent of R&D expenditure was performed by higher education sector, 42.5 per cent by business enterprises and 11.4 per cent by government.

These figures were 40.0 per cent by business enterprises sector, 47.4 per cent by higher education sector and 12.6 per cent by government sector in 2009.

Business enterprises sector located in the first rank among R&D financiers with 45.1% In terms of the sectors which financed the R&D expenditure; 45.1 per cent financed by business enterprises, 30.8 per cent by the public sector, 19.6 per cent by higher education sector, 3.7 per cent by other national sources and 0.8 per cent by foreign funds in 2010.

Full Time Equivalent (FTE) R&D personnel increased by 11.3% Total number of FTE R&D personnel was 81,792 in 2010. Annual increase in FTE R&D personnel was 11.3% compared to the previous year. Regarding FTE R&D personnel distribution by sectors, 40.2 per cent was employed in higher education sector, 45.9 per cent was employed in business enterprise sector, 13.9 per cent was employed in the public sector in 2010.

Total number of FTE R&D personnel per ten thousand employed person was 36.2 in 2010.

Highest R&D in western Anatolia According to SR Level-1, R&D expenditure in 2010 was the highest in Western Anatolia with 31.7 per cent.

This region was followed by Eastern Marmara with 20 per cent and Istanbul with 17.9 per cent.

According to R&D personnel, Western Anatolia with 25.8 per cent was in the first place. This region was followed by TR1 Istanbul with 21.8 per cent and Eastern Marmara with 14.7 per cent.

Made in Turkey Economic Newspaper, November 2011

9

European Commission: No economic growth in current and next quarters

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n its latest economic forecast, published on November 10, the European Commission presents its assessment of the economic prospects for the EU and the euro area at the aggregate level. It also analyses developments in all individual Member States, as well as Candidate Countries and the economies of the US, Japan, China, Russia and the EFTA. A special chapter is dedicated to developments in EU labour markets.

All main indicators point to a stalled recovery with considerable downside risks

Since the last fully-fledged forecast in May 2011, the outlook for the EU and the euro area has deteriorated.

The protracted sovereigndebt crisis has taken its toll on confidence affecting investment and consumption.

A worsening external economic environment has stalled exports, and the necessary fiscal consolidation is simultaneously restraining domestic demand. These trends are expected to hold for several quarters, tilting growth prospects as well as the outlook for labour market developments to the downside. The first signs of

improvements for GDP are projected for the second half of 2012; however, this recovery is expected to have a very limited impact on job formation.

Over the forecast period, inflation is projected to return to below 2%. Under the nopolicy-change assumption, government deficits are set to decline to just above 3% of GDP by 2013.

Economic growth has stopped No economic growth is now expected in the current and coming quarters.

Consequently, GDP is forecast to grow at a rate of only ½% in the EU and the euro area in 2012. Some acceleration is expected in 2013, when growth is set to reach 1½% in the EU and 1¼% in the euro area. While growth rates will differ across the Union, no group of countries will remain unaffected by the slowdown.

Continued uncertainty in financial markets relating to the sustainability of public finances in some euro-area economies as well as fears of contagion affecting the core euro-area countries will contribute to subdued growth.

The global economy's weakness, including of some of the most important partners for the EU, will reinforce this trend.

The forecast assumes that confidence will gradually return in the second half of 2012 underpinned by the implementation of policy

measures that rein in the sovereign debt crisis.

Labour markets are expected to stagnate Employment growth is expected to come to a standstill in 2012. The rate of growth of the economy projected to prevail over the forecast horizon is judged as insufficient to translate into any gains in the labour markets. Unemployment, therefore, is likely to remain at its current high level of 9.5%, but labour markets of Member States will continue to fare differently.

Public finances are on track to improve gradually Consolidation of public finances has made progress in 2011. Fiscal deficits for this year are projected to stand at 4¾% of GDP in the EU and just above 4% in the euro-area. Deficits are forecast to come down and amount to just below 4% and 3½% of GDP in the EU and euro area respectively in 2012.

According to the forecast, the debt-to-GDP ratio will peak in the EU at around 85% in 2012, and stabilise in 2013.

In the euro area, however, the debt ratio will continue to rise slowly and exceed 90% of GDP in 2012.

Inflation is expected to fall below 2% Thanks to lessening pressure from energy prices, inflation is projected to fall below 2% in 2012. The subdued economic activity and modest increases in wages are set to

Turk Eximbank supports worth $8,6 billion to exporters

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urkish Eximbank General Manager Hayrettin Kaplan informed about activities of the bank to the Commission of Public Economic Enterprises at TGNA (Turkish Grand National Assembly).

Turkey’s Eximbank General Manager Hayarettin Kaplan said that a total of $8,6 billion worth of credit was supported to the exports in the first 9 months of 2011.

Gathering in the head of Ak Party Deputy Fahrettin Poyraz at the commission of Public Economic Enterprises of TGNA, the accounts of Eximbank was offered to the general discussion.

General Manager Kaplan informed about activities of the bank.

Kaplan told that Turkish Eximbank has provided loan, insurance and warrantee support to the exporters, abroad contractors, investors, international transporters, tourism agencies and the foreign exchangers in order to boost country’s exports.

Stating that they, as the bank, secured worth $8,6 billion in the first 9 months of this year, Kaplan said the cash credit amount became worth $4,3 billion in the same period.

Stating that new regulations had been made in order to offer short-term loans to a wide mass, Kaplan noted monthly average loan which was distributed was $485 mil-

lion in the 9 months of 2011.

Recalling that the principles of the Turkish Eximbank were changed by the decision of the Council of Ministers on 26 Sept. 2011, Kaplan said that regarding the changes Eximbank’s headquarters which is in Ankara can be moved to Istanbul because of the works to make Istanbul the finance hub.

In the scope of the new changes that were made in the principles, Turkish Eximbank’s basic contract was newly regulated, according to this the wage and financial rights of staff were also determined, Kaplan said.

“In the framework of the new implementations made this year, in the scope of export finance mediation credit via the World Bank was enlarged, by the new regulation finance opportunity has been provided to ship and yacht building, machinery manufacturing, electric-electronic, automotive supplier industry and nonferrous metal sectors,” Kaplan said.

In the framework of 2011 program of Turkish Eximbank, bond exports have been planned worth $500 million in 5 years maturity at the international capital markets in order to boost share of mid-long term foreign exchange loans in the balance sheet and also the general finance need was taken into account,

Turkish Eximbank General Manager Hayrettin Kaplan

Kaplan noted.

Over a question of a MP, Kaplan said 35 percent credits of Turkish Eximbank offered to the SMEs.

Over a question the member of board of the bank Oguz Satici said that salary of the bank directors was lower than other banks’.

hold inflation in check during the forecast period.

Downside risks to the outlook remain important Three main risks are identified as weighing on the EU and the euro-area economy: continued sovereign-debtrelated uncertainty, the weakness of the financial industry and the sluggish world trade.

There is a possibility of negative dynamics: slower growth could affect sovereign debtors and this, in turn, could deteriorate the condition of the financial sector, which would be unable to support growth.

On the upside, an earlierthan-expected return of confidence could jump-start investment and private consumption. Moreover, an improvement in the external environment such as a resumption in global growth, could give new impetus to EU exports. Declining commodity prices would also contribute to more dynamic consumption.

The Commission economic forecast programme The European Commission publishes comprehensive macroeconomic forecasts twice-yearly in the spring and autumn, which are updated by interim forecasts usually published in February and September.

The fully-fledged forecasts discuss the economic situation and outlook for the euro area and the EU, the Candidate Countries as well as the EU’s main economic partners.

UIB wants stabilized foreign currency not high Uludag Exporters Unions (UIB) desires a stabilized foreign currency policy not being instability

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enol Sankaya, Coordinator of Uludag Exporters Unions (UIB), said they would like a stabilized foreign currency not high currency.

In his announcement, Sankaya said that the textile and ready-towear sectors were left alone in the period of the previous governments; for years, they had experienced difficulty to let the officials believe for the future of the sector which acts as a depot role for employment.

He noted that the exporters have been perceived wrong; everybody supposed that they have desired “high currency”.

UIB Coordinator Sankaya continued to say, “In fact, we do not desire the high currency, we want stabilized currency. In this context, we want keeping up with the standard of the foreign currency, continuity in a stabilized level. For example today it reach by some 2,00 TL, then plunged by 1,5 TL, again raised by 2.00TL; this condition is harmful for everybody. In the past, we paid harm of this situation much, so the sector lost much. But now we advocate a parity between 1.75-1.8TL for dollar and 2.45-2.5 for euro that is currency level to protect the competitive power of the sector. In other words, we like foreign currency to navigate on this band, to be in a stabilized position. Also the central bank makes serious decisions in this issue, use all weapons suitably. In conclusion, excessive jumps are not beneficial for the Central Bank too.”

Made in Turkey Economic Newspaper, November 2011

10

Turkey's olive oil to achieve $5 bln worth of exports by 2023

Turkey aims to export machinery worth $12 billion by the year-end

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urkey has doubled its machinery exports to Germany to $747 million in the first nine months of 2011 and aims to achieve $10 bill i o n worth of exports in the future, according to the sector’s statement.

Tu r k e y ’s machinery exports rose by 94.4 percent between January and September 2011 to Germany over the same period last year, according to data published by Turkey’s Exporters Assembly (TIM).

Machinery exports to Germany jumped to $746.9 million during the period, up from $384.1 million in the same period last year.

Machineries for construction and mining, the food industry, and pumps and compressors

were among the categories exported most to Germany, according to announcement of the Central Anatolia

M a c h i n e r y Exporters Union (OAIB).

Meanwhile, the country’s total

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machine exports also expanded more than 34 percent during the first nine

months of the year, to $6.11 billion, compared to about $4.55 billion over the same period of 2010, TIM figures showed.

The machinery groups whose exports increased most were engines, machinery components and parts, industrial air conditioners, cooling machineries, reactors and cauldrons.

F o l l o w i n g Germany, the countries where Turkey

exported most of its machinery products during the same period were Iran with $414.56 million, the U n i t e d Kingdom w i t h $322.08 million, R u s s i a w i t h $301.52 million and Iraq with $265.04 million.

France and Italy followed with $220.76 million and $236.55 million respectively, according to the data.

Meanwhile, Turkey sold machinery worth $190.44 million to Azerbaijan and $161.56 million to Saudi Arabia.

“Germany is a market where quality products fiercely compete. Thus, doubling our machinery exports to this country is a crucial

development,” said Adnan Dalgakıran, chairman of executive board of OAIB, in the report.

Turkey, however, has to increase its share in this market, he said, recalling that Germany’s total machinery imports totaled $200 billion.

“Our aim is to bring machinery exports to Germany to $10 billion in five to six years.”

Turkey aims to export $12 billion worth of machinery by the year-end, Dalgakıran stated.

In order to achieve the machinery sector its $100 billionexport target by 2023, it has to grow 22 to 23 percent on average annually, he said.

“The government provides us via serious research and development study.

This support must be suitably used by the sector,” he noted.

ccording to the estimate of Turkish Exporters Assembly (TIM) President Mehmet Buyukeksi, olive and olive oil exports to reach $300 million in 2011, increase almost by 100 percent next year and total up to $5 billion by 2023.

In his speech at the olive festival, Buyukeksi also urged the sectors to help reduce the county's current account deficit which is very important and hopes the raise in exports would help to end the deficit. He said olive and olive oil products are very vital in the region, which is trying to make its own regional trademark as well as boost the country's exports.

Incentives provided by the Ministry of Agriculture helped enhance olive and olive oil production in Turkey, which ranks fifth in olive oil production and fourth in the number of olive trees across the world. Newly planted olive tree would be ready to harvest within three years, so the production will increase three-and-a-half fold.

TIM board member Ali Nedim Gureli addressed participants at the festival that the technology in Turkish olive and olive oil production facilities is far better than facilities in Spain and Italy and he said, “Turkey will become the second largest producer in a couple of years with an output of 600,000 tons of olive oil and 800,000 tons of olives, which will enable the country to have a voice in setting prices in the sector as output in the country grows.”

Emin Demirci, Chairman of Akhisar Commodities Exchange, highlighted that the sector exports to 62 countries and said the latest equipment has being used this year, which helps reduce costs during olive harvesting. He also stated that they would continue their attempts to expand the use of new equipment by securing rural development support provided by the government to help the agriculture sector to implementing same technology and techniques as those used in European Union countries.

The festival was held for the third time this year in the district of Akhisar, the western province of Manisa, where the first olive harvest of the year was picked by farmers during the festival.

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Made in Turkey Economic Newspaper, November 2011

IMF Director: China plays a crucial role to promote global economic recovery

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would like to express my deep appreciation to the Chinese authorities for welcoming me during my first visit to China as Managing Director of the IMF,” Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF) said.

“I have had the privilege to meet with Premier Wen Jiabao, Vice President Xi Jinping, and Vice Premier Wang Qishan. I have also had a productive exchange of views with the People’s Bank of China Governor Zhou Xiaochuan.

“We discussed key challenges facing the global economy, the Euro Zone in particular, and their implications for China and the Asia region. We agreed on the importance of strengthened international policy cooperation and decisive collective action to ensure strong, sustainable and balanced global growth.

“We noted the growing interconnectedness of countries in today's global economy. As the world’s second largest economy, China plays a crucial role in helping to promote global economic recovery through trade, investment, and financing.

“China is on the right path in reducing domestic vulnerabilities by moderating the pace of credit growth, increasing provisioning and capital, and expanding the scope of macro-prudential policies.

Fiscal policy is also appropriately moving back gradually to balance.

“China is also on the right path in terms of reorienting the economy towards domestic consumption and in seeking more inclusive growth for its people, as laid out in the 12th five-year plan. In this regard, reform of the financial system continues to be important. This integrated package of policies, including continued strengthening of the ren-

minbi, would have a positive effect for China and the global economy.

“We discussed China's leading role as part of the G20. China also plays a major role at the IMF and is in our top three shareholders. China is a very important member and valued partner of the Fund and I greatly appreciate the strong, close and cordial relationship we enjoy with the Chinese authorities.

We had the opportunity to discuss how we might strengthen this even further in the future.

“Finally, during my visit, I was invited to address the Annual Conference of the International Finance Forum in Beijing where I met with Chinese provincial leaders, private sector executives, academics and think tank representatives.

“Again, it was my great pleasure to return to China and I would like to thank the Chinese people for their gracious hospitality.”

G-20 countries strengthen international tax co-operation

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ll G-20 governments have agreed to a multilateral convention to tackle tax evasion more effectively.

The Multilateral Convention on Mutual Administrative Assistance in Tax Matters offers a wide range of tools for crossborder tax co-operation. It includes automatic exchange of information, multilateral simultaneous tax examinations and international assistance in the collection of tax due. At the same time, the Convention imposes safeguards to protect the confidentiality of the information exchanged.

“Today we have taken a major

step forward to improve global tax cooperation”, said OECD Secretary-General Angel Gurría from the Cannes G-20 Summit.

“The OECD looks forward to continuing to work with the G-20 and other countries to maximize the benefits from this powerful multilateral instrument. Tax cooperation and compliance are of crucial importance for all countries and citizens - and not only in times of a tight fiscal and budgetary environment.”

In 2009, the G-20 called for action ‘to make it easier for developing countries to secure the benefits of the new cooperative tax environment, including a multilateral approach for the

exchange of information’. In response, the OECD and the Council of Europe developed a Protocol amending the Multilateral Convention to bring it in line with the international standard on exchange of information and to open it up to countries that are neither members of the OECD nor of the Council of Europe.

The instrument reinforces international cooperation to target tax evasion by both individuals and corporations. It complements other initiatives such as that of the Global Forum on Transparency and Exchange of Information for Tax Purposes, supported by the OECD, which

already includes 105 countries in an extensive peer review process.

“Now that the G-20 countries have led by example, we expect other countries to sign the Convention, said Jeffrey Owens, Director of the OECD’s Centre for Tax Policy and

Russia awaits European Turks

Administration. “As the membership expands, so the effectiveness of the Convention will increase. Over the coming months we will be working with developing countries so that they will rapidly be in a position to sign the Convention,” he added.

Competitive power of agriculture sector to be upgraded

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ompetitive power of the agriculture sector which has a significant place in the socioeconomic structure of Turkey will be raised. According to the program of 2012, in the new period, a structure is taken into consideration to secure the food safety and reliability in the agriculture sector and sustainability of the natural resources based on organization and high competitive power.

During the process to enter the EU, the necessary transformation will be prioritized to increase competitiveness power of Turkey regarding membership of Turkey in the union.

In this scope, agricultural support policies will be newly regulated in order to raise efficiency, productivity and quality in production by taken into account the necessities of Turkey’s entrance to the EU. In line with this, by the end of December, a strategy will be prepared according to the restructuring program, the final target of supports would be based on enterprises in the entering process to the EU; first the supports to be introduced for products which may have supply gap, the supports will be differentiated based on the area and product; between the support programs complementarity will be provided; as the support level is determined in the income level of enterprises which to be taken into account and plot of land identification system and farmer registration system development will be also included in the strategy.

Recep Aslantas of Turkey ( L ) and H. Murat Nesimoglu Turkish Deputy Trade Consultant

In this edition, we conducted a negotiation in detail with H. Murat Nesimoglu, Deputy Trade Consultant of Republic of Turkey to Moscow.

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- Would we know you shortly?

A- My name is H. Murat Nesimoglu, I work as Deputy Trade Consultant at the Embassy of Republic of Turkish in Moscow. Firstly, I would like to say that you, as the sectorial magazines, fill a crucial gap in the area.

Regarding the sectors to get information from the world, this also facilitates our works by following the written and visual media.

Q- Would you please tell us about your activities as the Trade Consultancy of Turkish Embassy to Moscow?

A- Russian Federation is one of the foremost countries regarded having the most potential in terms of the sectors. The cosmetics sector is one of the targeted sectors too. Intercharm fair is one of the big

fairs that operates in the cosmetics sector.

We would like to participate in this fair as Turkey in the national level. Last year, there was a study conducted by the Istanbul Union of Mine and Metal Exporters related with this. In the scope of this project a huge participation was being planned. This did not happen last year. But this year we observe an increase due to in the framework of promotion works made. So, we, as Turkey, will provide a national participation in Intercharm Fair. The cosmetic firms in Turkey are very powerful and dominate in the market.

Q- What will be done related with this?

A- It is necessary to know the system and itself very well in Russian Federation. We, as Turkey, we arrange events to develop trade in various countries. But we should consider and plan very well which ones are necessary to focus according to the internal structure and systems of those countries in order to develop trade. For example, while the trade committee in the big dimension is beneficial in Syria, Iraq and Iran, this situation is not the same in Russian Federation. The best and truest trade tool of ours is to participate in fairs in Russian Federation. The reason of this the firms in Russia have no obligation to register into the chambers of commerce.

For this reason, the firms open and liquidate and difficulties are experienced in reaching firm information.

Especially importer and distributor

firms come first. For example, if the trade consultant of Russian Federation in Ankara calls to the Konya Chamber of Commerce and says “I will bring a few Russian firms to Konya, our chamber commerce mobilizes the province of Konya. The reason of this, in our understanding we act with the mentality seeing customer as a benefactor. On contrary, although I call a few times to the Russian Trade Consultancy they say to me, “you bring much committee”. Because of our point of view is different, for this reason our firms should join the fairs which are hold in Russia. Paralleling this, if you make an operation towards Russian Federation you cannot do this via Istanbul. We must do this by coming to Russia. All firms, which join the fairs in Russia, almost

are serious firms.

Q- Is it expensive to open depot here for the Turkish firms?

A- Setting up a depot, office and store is some more expensive in Russian Federation compared to other countries. But opposite of this, profit margins are higher. Also Turkish state adds to the exporter firms for the office and depots which are opened. Our firms can learn detail information about this on the internet page of the Turkish Ministry of Economy. Here is not a country, it is a

continent. Another advice of ours is lawful consultancy, our firm should get professional aid in terms of tax and there is a very serious infrastructure of ours related with this.

Especially, Turkish firms are available in Russia act in the logistic issue. Because of here is a foggy market. It is necessary to keep our profit margin higher by decreasing cost. You cannot earn more in any country than here in retail sales.

For this reason, it is

very true step to participate in the fairs.

After participating in the fairs and agreeing with the distributor firms you see the goods go to which region. Then you layout your settling plan, and later your regional expansion plan. Now, there are some 2 thousand settled Turkish firms act in Russian Federation and this number increase day by day. In the scope of the necessary promotions and systems we encourage our firms to get state aid. We, as trade

consultancy, say to our firms that we meet some of expenses for four years.

Q- What does consumers in Russia look for?

A- Firstly, they look for continuity. In addition, they look for quality and suitable price. In Russia, Chinese goods are not liked much. So they regard Turkish goods positively. We, as consultancy, our advice to our firms is to settle soon in Russia. Here there are 83 unit regions. In every region having exempted some taxes which are collected regional they try to attract investment to their own regions. In this meaning, we, as consultancy, can help to the firms that consider investment regarding our good relations with the most of the regions.

Q- Is there any trouble at the customs?

A- There is no trouble as systematic at the customs. Russian Federation implements the old customs systematic. So there is no prejudice against Turkish products. In our negotiations that we conducted with lots of logistic firms they notified there is no trouble at the customs. In this matter, when we look at the profile of the firm which has experienced trouble generally they are the firms which do not live in Russia as settled or they do not work with the settled logistic firms in Russia. For this reason, our proposal is if the firms have been here they would set up their system by themselves. There is no escape from the Russian taxes and value added taxes. How an Italian goods experience a problem, our products also experience as much as theirs.

As for concerning with the cosmetics sector, the potential is high in Russia.

Intercharm is an important fair. We should participate in these fairs in the meaning of appraising this potential. Let our firms continue to come here so that our number to rise.

Made in Turkey Economic Newspaper, November 2011

12

Leading Companies come together Turkish Cosmetics at Bursa Metal Processing Sector Technologies Fair

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ursa Metal Processing Technologies Fair, the 10th Metal Processing Machinery, Welding, Cutting, Drilling Technologies, Related Equipment Hand Tools, Pneumatic and Hydraulic Fair will be organized by Tuyap Bursa Fairs Organization Inc. in cooperation with TIAD Machine Tools Businessmen’s Association of Turkey, with the support of Bursa Metropolitan Municipality and Bursa Chamber of Commerce and Industry together with Bursa Sheet Metal Processing Technologies 2011, the 3rd Sheet Metal, Pipe, Profile Processing Technologies and Sub Industries Fair, Bursa Hardware And Job Security Fair and ELECO 2011, the 9th Electric, Electronic, Automation, Illumination and Communication Fair and Symposium between December 1 - 4, 2011 at Bursa International Fair and Congress Center.

In 2010, the events included 372 companies and representatives from 22 countries and received 31,719 visitors from 21 countries, generating great business opportu-

nities for their respective industries.

Promotion efforts by Tuyap International offices in Bulgaria, Georgia, Iran, Russia, Syria and FYRO Macedonia ensured participation from Germany, Azerbaijan, Bulgaria, Algeria, Palestine, France, Netherlands, Iran, Spain, Italy, Kosovo, Turkish Republic of Northern Cyprus, Libya, Lebanon, Macedonia, Egypt, Nigeria, Russia, Syria, Tunisia and Greece. Domestic visitors were from 46 provinces of Turkey, including the industrial centers Adapazarı, Afyon, Aksaray, Ankara, Aydın, Balıkesir, Bartın, Bilecik, Bolu, Burdur, Çanakkale, Denizli, Edirne, Erzincan, Eskişehir, Istanbul, Izmir, Karaman, Kırklareli, Kocaeli, Kütahya, Manisa, Mersin, Nevşehir, Tekirdağ, Tokat, Uşak, Yalova and Zonguldak.

Held in Bursa, the manufacturing hub of Turkey, the fairs will bring together the leading manufacturers and exporters in metal processing, sheet metal processing, electrical works, electronics, automation, hardware and job security with foreign and domestic professional

visitors. The exhibits cover a wide range from sheet metal processing machinery to CNC lathes, electrical works, electronics, lighting, work safety, hardware and hand tools.

The fair will take place in 6 halls over an area of 30.000 square meters. Hall 1 will display electrical works, electronics, automation and lighting; Halls 2, 3, 4 and 6 will be reserved for metal working machinery CNC lathes, sheet metal processing technologies, pipe and profile processing machinery, crane systems, and machinery and components for the manufacturing industry; and Hall 5 will showcase hand tools, technical hardware, general purpose hand tools, connectors, job security products and storage and shelving solutions.

A number of symposia and seminars will be held during the fair on the latest innovations in electrical, electronic and automation systems, improvements in work safety, R&D management in companies and recent developments in the hardware industry with presentations to be made by subject matter experts.

Metalworking machinery and CNC lathes are critical to the manufacturing industry, with the automotive industry being in the lead.

With Bursa being the driving force of the manufactur-

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urkish cosmetics sector export which increase year by year is 726 million USD in the first three quarters of 2011.

Anyway, following Iraq, Russia and Germany, taking place in first stops in the countries to which we export, we also take place in new markets.

ing industry and the second largest exporter province in Turkey, providing skilled workforce to the agriculture, food, automotive, textile and metalworking industries, the Bursa Metal Processing Technologies Fair will enable the leading manufacturers and exporters in the industry to make business connections with domestic and foreign professionals and to present the latest developments in technology. The fair will also have a “Casting Technology Special Section” and a “Warehouse, Handling Special Section” The Bursa Eleco Fair will include the latest developments and technologies in electrical works, electronics, lighting, automation and communication – all of which are in high demand in Bursa due to the industrial potential of the city. The fair will also have a “Cable Special Section” and a “Renewable Energy Systems Special Section.”

The Eleco 2011, International Conference on Electrical and Electronic Engineering to be held dur-

ing t h e fair will be a platform where scholars and industry representatives in electrical works, electronics, computers, lighting and automation will discuss the latest developments and share opinions and best practices, providing a wealth of information to the related parties.

To be held in Bursa for the second time, the Hardware and Job Security Fair will showcase the latest technologies and materials used in the machinery industry and the area of work safety as it continues to rise in importance. The leading manufacturers and exporters in these industries will find opportunities to make business connections with professionals, contributing to the development of their industries.

As Turkey’s primary hub and a leading center of production on a global level in the sheet metal, pipe and profile processing technologies, Bursa will also host the Bursa Sheet Metal Processing Technologies Fair, which is the only specialist trade show in Turkey.

Following the Middle East, Turkish cosmetics sector, which is also preparing to show herself in the Far East, will participate in Cosmoprof Asia-Hong Kong fair which is one of the most important exhibitions in the region. As IKMIB, we will organize a national participation to the fair with 18 companies at the beginning of November for the first time. We foresee that the number of participation will increase in coming years

ket share in the Latin American market will be an important market player with similar operations.

Besides new market activities, we continue to inform the companies on behalf of maintaining same market share. In this context, the seminars about the new EC Cosmetics Regulation 1223/2009, we played active role to enable firms act more consciousness. We are maintaining similar whorkshops/seminars in the future years.

Concurrently, in accordance with the studies of ‘Cosmetic Sector Abroad Marketing Team’ many activities are planned to be organized, including Latin American countries which are having potential for the Turkish cosmetics and personal care market. In accordance with on-site market research /desk researches and requisitions of companies, it is realised that the concerned countries have the market potential and so decided to organize a trade mission.

Firstly, a sectorial trade mission will be organized to Colombia, Venezuela and Peru between the dates of Nov 26th-Dec 4th, 2011.

Turkish cosmetics exporters will gather together with potential buyers and do on-site market research.

We will see that Turkish cosmetics products which have restricted mar-

Murat Akyüz IKMIB Chairman of the Board

Verona’s Marmomacc more international

• International attendance increased by 8% from more than 130 countries • Led by IMMIB, Turkish companies performed very well at Marmomacc VERONA – Marmomacc confirmed its role as the leading world platform for trade and promotion of culture in the natural stone field. The 2011 edition of the exhibition closed after four days of shows and events involving more than 1500 exhibitors from 60 countries (eight countries more than in 2010), with an increase of 8% in attendance by international operators including significant growth for Arab countries, India, China, Iran and France, while visitors from the USA and Germany are among the most

loyal.

"This is a very important result, especially in times like these of major difficulties for the European and international economy, and demonstrates that exhibitions are one of the few engines entirely at the service of the real economy," said the President of Veronafiere, Ettore Riello, who is also a member of the board of AEFI, the Italian exhibition centers association.

International events are an extraordinary platform for our companies. This is why stronger collaboration and alliance with all institutions is vital in order to provide further opportunities for this sector. MARMOMACC over four days attracted operators from as many as 130 countries, with an increase despite

the crisis in the international share of 8% over 2010, with exhibitors from 60 countries, 20 international group shows and 30 trade delegations: this is how to implement industrial policy."

"Marmomacc undoubtedly closed on a high note and confirmed its status as a vital appointment for all international operators. Positive results for the exhibition and encouraging opportunities also for Italian companies, by exploiting all the competitive leverage of "Made in Italy" without overlooking the possibility of reviewing duties - following the proposal put forward by Confindustria Marmomacchine, a work group was set up by EUROROC during Marmomacc itself," said Flavio Marabelli, Honorary President of Confindustria Marmomacchine.

Important institutional attendance: the exhibition was inaugurated by Catia Polidori, under-secretary for company internationalization and trade policies at the Ministry for Economic Development and equally attracted impressive institutional attendance - such as the visit by Rajendra Pareek, Minister of Industry, Rajasthan

State Government (India), the Indian Consul General, Sanjay Kumar Verma, the Ambassador of the Republic of Iraq in Italy, Saywan Barzani, the Ambassador of Oman Said Al Harthy, the Minister of Culture of Georgia, Nikolaz Rurua, and the President of IMMIB, the Turkish association of mineral exporters, Mehmet Ozer.

In general, comments by exhibitors and visitors confirmed that the sector is experiencing an up and down period, with markets enjoying strong growth (China, India, Brazil and Turkey to mention but four) and others still remaining stagnant. There is a general trend in favor of quality products, be they processed stone or machinery. Italian companies and their European counterparts, on the other hand, launched an appeal to the political world to resolve the problem of duties which is severely distorting the market: duties which Europe does not apply to its international products but which many other producer countries implement even with very high percentages - to defend their own products.

This is not a question of protectionism, but of fair and equal conditions. Yet, overall, the climate seen in the halls was good, as confirmed by the comments of a number of companies specializing in finished products.

“We need 6 million houses within 10 years”

Işık Gökkaya, Chairman of the board of Real-Estate Investment Companies’ Association (GYODER)

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şık Gökkaya, Chairman of the board of Real-Estate Investment Companies’ Association (GYODER), said that house stocks would end in 20 months, there would need additional 6 million homes in the next 10 years.

Gökkaya also noted that he did not accept the assertions about there are remarkable supply in housing. “There are 6 million unit homes in the upcoming 10 years. The 45 percent of cur-

rent housing stocks worn out and have completed their lifecycle.”

At a conference titled ‘Housing Conference’, in his speech, he said that there was a rumor that about a huge number of homes are being supplied to the market, but such a number is not in question.

Indicating that there was not a housing supply in parallel of Turkey’s need, Gökkaya said, “If there will be no additional sup-

ply, the current stock would finish in 20 months. So, there is no reason to panic.”

“The one of the most important problems is capital insufficiency in the sector.”

Gökkaya also note that housing loan has reached by 72,1 billion, this is a remarkable instrument for the housing producers and real-estate sector.

Our History GYODER, The Association of Real Estate Investment Companies, was established on 2nd August 1999 by the representatives of existing and founding Real Estate Investment Companies (REICs), to promote and represent the promising real estate industry that leads the economy as a locomotive, to encourage the development of the industry, to provide, improve and protect standards for quality, control and education within the sector.

13 Made in Turkey Economic Newspaper, November 2011

Natural stone exports increase IMIB President Mehmet Ozer says, “Natural stone exports increase”

IMIB President Mehmet Ozer

Hakan Alkan - Istanbul tarting its operations first in 1976 as “Turkey Minerals Exporters Union”, IMIB took the current name of “Istanbul Mineral Exporters Association” in 1986 with the decision of the Council of Ministers. Participating in domestic and foreign fairs in order to promote mineral exports products of Turkey to the world markets IMIB enhances its activities with the increase of exports of natural stone in the country.

Mehmet Ozer, IMIB Chairman responded to our questions, Could you tell us about the organization phase and fields of activity of IMIB? Istanbul Mineral Exporters’ Association was founded as the Turkey Miners Union first.

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Founded in 1948 The Turkey Miners Union within the Chrome Manufacturers' Association realized mineral exports of our country for many years. Turkey Minerals Exporters' Union was founded in 1976 and in 1986 the name was changed to Istanbul Mineral Exporters Association with the decision of the Council of Ministers. Today Istanbul Mineral Exporters Association continues its activities under the umbrella of Turkish Exporters Assembly as all the other unions.

Istanbul Mineral Exporters Association fulfils many duties such as carrying out operations of all the documents related to exports, bringing together foreign importers with exporters in Turkey, organizing participation in international fairs to promote

Turkey's mineral products, participating both domestic and foreign fairs as well as observing and researching in order to improve exports, preparing brochures, catalogs, and journal, international advertising, sale and trade missions, organizing fairs, seminars and meetings, collecting data related to Turkey's mines and publishing export statistics.

Could you inform us about the member firms?

Our union has all large and small firms that export mining and natural stones. Many of them are producing companies. There are approximately 3200 member companies registered in our Union as of October 2011. Eti Mine Works General Management, Dedeman, Ekom Eczacibasi of Eczacibasi Group Companies, CVK Foreign Trade, which is the first in chrome exports, Yildirim Foreign Trade Company are among our member firms.

What do we need to increase the potential of natural stone exports in our country?

Overcoming the lack of infrastructure and technology in our country, promoting new investments, emphasizing on introduction have taken an active role in the increase of natural stone trade exports as of last decade in parallel with the significant increase in the world natural stone trade exports. Some factors such as continuing to increase interest in the ecological and esthetic looking material in the world and being preferred the natural stone products by architects and designers play important roles.

The natural stone exports, which were $ 189 million in the early 2000s, exceeded $ 1 billion in

2006 showing an increase in the coming years and it reached to $ 1.4 billion in 2008. However, the effects of the global crisis in 2008, and particularly a decrease in the U.S. market affected exports of natural stone and in 2009 it recorded a decrease of 13% compared to the previous year’s figure of $ 1.2 billion. In 2010, Turkey's exports increased by 26% compared to 2009, even surpassing exports of 2008 and reached 1.568 billion dollars. The natural stone exports reached $ 1.4 billion at the first ten months of 2011.

We continue to work to increase exports of natural stone at the next years. We especially aim to promote Turkey's natural stone to architects, interior architects, designers and project owners, who bring natural stones to daily lives of people and are determinants of people's preferences in the use of natural stone. In this direction we started to publish NATURA magazine, which were published every two months since 2005, in Turkish and English in 2011 and deliver it to overseas architects. In addition we have begun to work on a catalog consisting of all the natural stones of Turkey. All of Turkey's natural stone rich will be seen together with this catalog and renewed turkishstones.org web site.

National participations take place in most important trade fairs in the world for the promotion of the natural stone industry by our unions. Italy Marmomacc fair, most important natural stone exhibition in the world held in Verona, and Coverings trade fair, one of the most important fair of North America held in the United

States have been organized by the Istanbul Mineral Exporters Association. Also, the organization of national participation, the natural stone trade fair in Xiamen, city of China carried out by the Aegean Mine Exporters Union. The Marble Fair, which is held in Izmir in March and Natural Stone Fair, which is held in Istanbul in October have been important fairs which provide manufacturers of natural stone to meet buyers.

Design contest Design competitions are organized oriented in the natural stone sector and we participate in design fairs. And the design-oriented international activities will be provided participation continuously. In this context, we will organize an exhibition of works made using marble by architects from our country and the world's leading in Milan Design Week, which will be held in April of 2012. Thus, our country is not only a manufacturing center, but also the conscious of design and innovation approach will be highlighted, contribute the image of our country to get a higher level in international markets.

The natural stone industry of our country is also faced with problems such as training, quality and standards, sectoral co-ordination, high energy costs and regulatory issues. We carry out the work to get investor's decision to optimize but not to be tedious by making legislations simpler and leaner.

We have already started to work about 2023 export strategies of mining sector to include natural stone sector within the framework of Turkey's export target of $ 500 billion in 2023.

All of these studies will result

with a focus on long-term goals and handling it as a whole and persistently continue to practice and they will bring our country to leader in the world in natural stone and we will be one step closer to our goal, which was $ 7 billion, natural stone export target, in 2023.

What are your projects and goals?

IMIB carries out projects in many different areas throughout its operations. In order to increase exports to we arrange purchasing committees. We provided our firms one-to-one meetings with about 50 buyers from China, United Arab Emirates, Greece, Albania, Russian Federation, Morocco, Israel, Malaysia, Jordan, Palestine and Egypt cooperating with Ministry of the Economy and Commercial Counsellor for the Natural Stone Trade Fair held in Istanbul. We brought VIP procurement committee for 15 people from Shanghai in coordination of the Ministry and Turkey Exporters Assembly Shanghai in cooperation with our union. We form sectoral trade delegations oriented in target countries with procurement committee. We set a sectoral trade delegation simultaneously

with the Big 5 exhibition in Dubai including United Arab Emirates and Qatar. There we will bring together our firms and buyers. We will provide sectoral trade delegations to China, India, Russian Federation and European countries in 2012.

New works We've been doing a new digital catalog to be seen of the natural stone riches in our country by buyers, architects and project owners and in order to achieve to reach the consumers at the shortest possible route. In this context, we update www.turkishstones.org web site in a short time, all natural stones will be accessible via internet. Moreover we have started the prestige catalog operation, which will contain the images of natural stones, which are used in the important home and abroad projects. We will send this catalog to the most important architects, project owners and designers too.

Furthermore, Natura magazine, which published since 2006 by our union, published in Turkish and English since 2011 and delivered to abroad and domestic architects, designers and project owners free of charge.

Made in Turkey Economic Newspaper, November 2011

14

Turkey’s Budget Bill to be discussed at the parliament

The Big 5 Show Dubai opens its doors Trade fair for construction and contracting, The Big 5 2011 will be running from 21–24 November 2011 at the Dubai International Exhibition & Convention Centre, Dubai, UAE

Turkey’s Budget Bill which will be legislated by the National Assembly predicted to achieve a 1,4-trillion Turkish Lira of gross domestic product (GDP), 4 percent growth, 5.2 percent year-end inflation, $148,5 billion in exports and $248,7 billion in imports in 2012 Continued From Page 1 he Budget Bill for 2012 aims to boost employment, growth and savings, strengthen fiscal discipline and reduce the current account deficit, according to the statement of Turkish Finance Minister Mehmet Simsek.

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The Bill, presented by Simsek to the Parliamentary Planning and Budget Commission, predicted to achieve 1.4 trillion Turkish Liras of gross domestic product (GDP), 4 percent growth, 5.2 percent year-end inflation, $148.5 billion in exports and $248.7 billion in imports in 2012.

Acting prudently about infla-

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tion rate for 2012 the minister said, “We anticipate the inflation rate to reach by 7.8 percent temporarily due to the loss in the lira’s value this year, strong domestic demand and recent tax increases. But we project that it will recede by the end of 2012.”

The real economy, investments, regional development projects,

MEDIUM

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science, technology and research-development were supported more in the Bill, the minister added.

The Budget Bill was prepared in accordance with the “pragmatic macroeconomic projections of the government’s medium-term program” unveiled earlier this month, Minister Simsek concluded.

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Continued From Page 1 longside the exhibition there will be a variety of events like The Big 5 Technical Conference, The Big Green Trail and The Big 5 GAIA Awards. The BIG 5 SHOW is accompanied by THE BIG 5 PMV that is a dedicated arena for plant, machinery, tools & construction.

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facing challenges and seizing opportunities.

It is the gateway to the Middle East and North Africa (MENA) providing both exhibitors and visitors with the opportunity to conduct serious business with likeminded professionals.

The Big 5 is an audited show that

About The Big 5 For more than 30 years The Big 5 has provided a business and networking platform for the construction industry. It is an opportunity for buyers and sellers of construction products and services from around the world to source an astounding array of the very latest technologies, innovations and techniques.

More than an exhibition, the event provides attendees with unrivalled access to information, intelligence, contacts and hands on experience.

Experts from around the world engage in the industry's most topical discussions, finding solutions,

last year attracted 35,166 unique buyers, a 7% increase on 2009.

The Big 5 2011 will be running from 21 – 24 November 2011 at the Dubai International Exhibition & Convention Centre, Dubai, UAE.

Ministers of Tourism call on decision-makers to use tourism to stimulate the economy Continued From Page 1

W Stock Exchange yields maximum monthly profit in September In September 2011, maximum monthly real profit rate was realized in the Stock Exchange according to Consumer Price Index Continued From Page 16 n September 2011, financial investment tools were listed in descending order with respect to their yearly real profit rates as follows: Gold (ingot), Euro, US Dollar, Deposit Interest and Stock Exchange. The real profit rates of gold (ingot), Euro and US Dollar were 49.59%, 12.73% and 7.58% respectively, however in the same period.

Deposit Interest and Stock Exchange lost by 3.99% and -19.07% respectively, according to PPI. The real profit rates of gold (ingot), Euro, US dollar and Deposit Interest were 58.04%, 19.11%, 13.66% and 1.44% respectively, however according to CPI in the same period Stock Exchange lost by -14.50% respectively.

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e need to convince our decision-makers of the importance of tourism to the economy and employment,” said Mr. Frederic Lefebvre, Minister of Tourism of France, opening the meeting. “In these challenging times, we need to maximize our strengths and tourism is one of them,” he added.

“Tourism can be part of the solution to the economic difficulties facing the world,” said Mr. Taleb Rifai, UNWTO SecretaryGeneral. “Amid increased economic uncertainty, unacceptably high unemployment rates and the

challenges of fiscal consolidation and increased taxation in many economies, it is time for us to recall the role tourism can have in increasing exports, driving economic growth and creating jobs,” he added.

The debate highlighted the multiplier effect of tourism on other sectors of the economy in terms of output, and particularly employment, as well as the contribution of the sector to minimizing trade unbalances in many economies and promoting regional development.

With one billion tourists set to cross international borders in 2012, the meeting furthermore stressed

the impact of tourism in fostering social wellbeing and understanding, and the need for it to address the challenges of sustainable development and climate change to ensure a sustained future. Ministers also stressed the need to reduce travel barriers and increase investment to move the tourism agenda forward.

“In this period of economic transition, tourism is a strong driver of development,” said Mr. Antonio Tajani, Vice-President of the European Commission and responsible for Industry and Entrepreneurship. “As we face an economic and confidence crisis, all sectors

should contribute to overcome difficulties and tourism can make a significant contribution to this effort,” he added.

The T20 is an initiative

formed to advocate the value of tourism within the strategies of economic recovery/growth; it aims to position tourism as a driver of economic, social

and environmental change.

The next meeting of the T20 will be held in Mexico, in May 2012.

billion increasing 28.9 pct, to the rest of OECD countries trade became $1,3 billion with 6.9 pct increase.

The trade to other

European countries became $32,7 billion with 0.18 rise, to CIS (Commonwealth of Independent States) trade was $752,5 million,

increasing 4.05 percent, as for the North African and Mideast countries trade became $2,2 billion, rising 11.6 percent in the same period.

Trade in free zones up In the free zones, trade increased 28.4 pct to $14,9 billion in eight moths.

The majority of the trade was accomplished at the Aegean Free zone with $3,5 billion.

According to the data of the Ministry of Economy, the most trade was achieved at the Aegean Free Zone, increasing 133 pct to $3,5 billion in the first eight months of 2011.

The trade was $1,5 billion over the same period previous year.

As for the Istanbul Industry and Trade Zone

ranked second with $2,7 billion in the same period, but the rate decreased 2.6 pct compared to the last year. At the Mersin Free Trade Zone, trade became $1,7 billion, rising 20.71 pct.

Despite decreasing 8.83 pct, trade at the Istanbul Ataturk Airport became $1,5 billion listing in the most traded zones. At the European Free Trade Zone, the trade expanded 78.2 pct to $1,4 billion.

As for the trade, which was accomplished in lowest level, happened at the Mersin Free Trade Zone

with $2,5 million; $3,3 million at the Rize Trade Zone; $40,7 million at the Trabzon Free Trade Zone.

Most of trade to OECD and EU countries The majority of the trade accomplished to Organization for Economic Co-operation and Development (OECD) and European Union (EU) countries with $6,7 billion, increasing 35.9 percent over the same period last year between January – August 2011.

The trade to the 27 EU countries realized as $5,4

Made in Turkey Economic Newspaper, November 2011

15

Total number of motor vehicles in Turkey reaches almost 16 million

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n August 2011, number of 96,835 motor vehicles registered to the traffic in the home; cars ranked at the first stop with the ratio 45.1% (43,648) and it was fallowed by motorcycles with the ratio 26.3% (25,511), small trucks with the ratio 18.7% (18,141) and tractors with the ratio 4.3% (4,174).

Trucks, small buses, buses, and special purpose vehicles constituted the 5.5% (5,361) ratio of the registered motor vehicles in August 2011, according the statement of Turkey’s Statistic Institute (TurkStat).

The number of registered motor vehicles decreased 22.1 pct in proportion to the previous month In proportion to the previous month, the number of registered motor vehicles increased with a ratio 22.1%. Cars, small trucks, trucks, motorcycles, tractors decreased with a ratio 27.6%, 30.2%, 35.7%, 5.7%, 10.7%. Small buses, buses, special purpose vehicles increased with a ratio 15.1%, 15.4%, 2.1% respectively.

The number of registered motor vehicles plunged 11.3 pct over the same period of the previous year According to the interim data in August 2011, the number of registered to the traffic motor vehicles decreased with a ratio of 11.3% in comparison to the same month of the previous year. Cars, small buses, small trucks, trucks decreased with a ratio 24.8 %, 3.6 %, 26.3 %, 28.7.

Buses, motorcycles, special purpose vehicles and tractors increased with a ratio 1.2 %, 49.2 %, 351.5 % and 32.8 %.

In January - August 2011, total number of registered vehicles increased by 716,857 While 138,101 motor vehicles were withdrawn, 854,958 motor vehicles were registered in August of 2011. Hence the total number of motor vehicles in traffic is increased by 716,857. Considering the end of August, the total number of motor vehicles in Turkey became 15,812,460.

In the total number motor vehicles the ratio of cars, small trucks, motorcycles, tractors, trucks, small buses, buses and special purpose vehicles became 50.3%, 16.2%, 15.7%, 9.1%, 4.6%, 2.5%, 1.4% and 0.2% respectively.

The distribution of trademarks in the registered cars

in August 2011 The distribution of the

2011 is as follows; Renault 18.1%, Tofaş-Fiat

Turkish Exporters’ Assembly (TIM) chairman Mehmet Buyukeksi

Hyundai 7%, Toyota 5.7%, Nissan 4.3%, Chevrolet

TIM Chairman: Value-added crucial in domestic-made car

T trademarks of the cars registered (43,648) in August

9.6%, Opel 9.5%, Ford 9.4%, Volkswagen 7.5%,

3.9% and the other trademarks 25%.

urkish Exporters’ Assembly (TIM) chairman Mehmet Buyukeksi said that the success in the domestic-made car would be inspiration for the other sectors, adding that the important thing is not to make a 100 percent domestic car, the important thing is to produce Turkish branded products and value-added.

The 3rd International Istanbul Economists Summit held by the Istanbul Economists Association and Economy Faculty of Istanbul University in the theme, “Entrepreneurship, Innovation and Economic Development” Speaking at the summit, Buyukeksi pointed out that while Turkey gained 5 percent share from the world trade, now takes 8 percent.

“Our exports have risen quite swiftly in the countries such as Iraq, Iran, and United Arab Emirates. Iraq became our 4th largest export market. We foresee exports to Iraq to reach by $7 billion by the end of the year,” TIM Chairman Mehmet Buyukeksi said.

Stressing that all of those were the crucial success of the Turkish entrepreneurs, Buyukeksi continued, “We will make up this awareness by the way of innovation, technology, high productivity and branding.”

Stating that making a domestic branded car as Turkey is an indicator of innovation and entrepreneurship, Buyukeksi said, “Achieving a domestic made branded car will be insight for the other sectors too.

Here the crucial thing is not to make a 100 percent domestic car. The important thing is to manufacture Turkish branded products. What kind of product you make wherever, the key thing is value added.

Telling that entrepreneurship would contribute to employment increase and social development, Buyukeksi concluded that the economic progress and employment will accelerate, poverty will decrease and egalitarian development would realize.

“EVs to reduce emission gases to zero” Saudi Arabia Renault Mais General Manager Aybar, “In order to reduce the emission gases by zero, the only way is electric vehicles”

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enault Mais General Manager Ibrahim Aybar, "The distance between Ankara and Istanbul with the electric vehicles will cost some 10TL, vehicles will charge in 30 minutes.”

Aybar emphasized that there was an outstanding technological difference between the automobiles which consume fuel oil and electric vehicles.

He highlighted it is possible to drive 182-185 km with the electric vehicles, but it requires charge in every 160 km.

Ayybar continued, “The use cost fairly economic compared with the cars that work fossil fuel. As for the purchasing, incentive would be introduced.

In Europe, there is contri-

bution varying between 5-6 thousand euro. In our country, there is discount of special consumption tax (OTV) for those of which power up to 85 kilowatt. Only, 3 percent OTV is implemented.

If we take into account that OTV is 37 percent, it is a remarkable advantage.

When annually over 10 thousand km is driven a noteworthy economic advantage can be gained, because of the unit price of electricity is cheaper. Its current cost is between 2,5 – 5 TL. Moreover we are not dependable outsourcing energy type.”

Aybar said that by the charge stations which would be established along the streets to supply electricity. “If the industrial type energy is available it is possible to charge the vehicle in 30 minutes.

Recording that they were trying to slowdown global warming, reduc-

ing green house gases and terminate the environmental trouble, Aybar continued, “It is possible to reduce the emission gases but not possible to reduce by zero. The only way is electric vehicles. Fluence Z.E. that we produce at our plant almost is ready to set out. Due to spreading the electric vehicle is crucial it necessitates being affordable. For this reason, we would sell the electric vehicle to be equal to that of the diesel engine car. Thanks that we have come to the level to achieve this assertion. Another claim of ours was that of this vehicles’ maintenanceexpenditure would be lower than the conventional engine vehicles’ expenditures. Over the achieving both of the issues the serial production has launched. In the coming months we will be offering the vehicles to sales.”

suggests bus-making joint venture company Nihat Ergun, Turkish Minister of Science, Industry and Technology

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audi Arabia has suggested setting up cooperation to make bus and export to the African market The suggestion stated in the negotiation between Nihat Ergun, Minister of Turkey’s Science, Industry and Technology and Abdullah Zeynel Ali Rıza, Minister of Saudi Arabian Industry

and Trade in Istanbul.

According to the information from the ministry, in the bilateral negotiation, Minister Ergun has offered Saudi and Turkish businessmen to come together to take relations to a furthermore point by holding meetings.

Indicating that they were ready to share Turkey’s experience for 50 years in the organized industrial zone with Saudi Arabia, Ergun continued, “If a team from Saudi Arabia comes to Turkey, we are ready to transfer our experiences in the SMEs to them.

Cooperation can be made in the fields of transport, airport, highway and shipbuilding as well as tourism, agriculture and food.”

Minister Ergun said that Saudi Arabia has suggested making bus as a joint venture and they would negotiate and appraise the bus making suggestion with the firms.

Abdullah Zeynel Ali Rıza, Minister of Saudi Arabian Industry and Trade, stating that they have been enjoying a great change in Saudi Arabia, he noted that they would rebuild schools, hospitals, highways.

Minister Ali Riza continued, “For this reason, Turkish construction firms can get benefit from this condition. We will do our best to solve the problems of the Turkish firms. Turkey is one of the foremost steel producers of the world, if the Turkish firms enter the Saudi Arabian market more, the prices in our country would stabilize. We will get benefit from the experiences of Turkey in the SMEs. We know that Turkey is the country exports bus most to Europe. We can make a joint venture company to make bus in Saudi Arabia and can enter the African market.”

Made in Turkey Economic Newspaper, November 2011

16

Purchasing Power Parity forecasted to be over $17 thousand in Turkey

Head of THY, Turkish Airlines set for 2012 ber of long-distance flights has increased.

The number of passengers carried by THY in the first nine months of 2011 rose by 11 percent to 24.3 million over the same period previous year.

Kotil recorded while turnover of the THY was worth $1,3 billion in 2003, now reached by $7,2 billion, increasing nearly 5 fold.

Stating that THY connects the world to each other via Turkey, Kotil stated, “If a sufficient infrastructure would be made up such as airport, aircraft and staff, we are able to make this as the country, at that time a turnover worth $50 billion could be achieved.”

Turkish Airlines is the national flag carrier airline of Turkey, headquartered in Istanbul. It operates scheduled services to 146 international and 41 domestic cities (38 domestic airports), serving for a total of 187 airports, in Europe, Asia, Africa, and the Americas. In 2006, 2007, 2008, 2009 and 2010 THY carried 17 million, 19.7 million, 22.5 million, 25.1 million and 29 million passengers with total revenues of US$2.23, $3.0, $4.5, $4 and $5.6 billion, respectively.

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er capita Income will reach by $17 thousand 156 in 2012, as for this year-end it is expected to be $16 thousand 504, according to the Purchasing Power Parity (PPP) in Turkey.

According to the data of the 2012 program, as for per capita income by the current prices, it is foreseen to be $10 thousand 963, this year would be $10

thousand 363. In the medium-term program, per capita income expected to reach by $11 thousand 716, in 2013; in 2014 income will be $12 thousand 412.

According to the data, per capita income exceeded $10 thousand first time in 2004 and per capita income became $10 thousand 166. In 2005, this figure became $11 thou-

sand 391, in 2006, $12 thousand 887, in 2007 $13 thousand 897, in 2008 $14 thousand 962, in 2009 $14 thousand 218. Last year, according to the PPP, exceeding $15 thousand, this figure accomplished as $15 thousand 287 in Turkey. As for 2011, according to PPP, per capita income would reach by 16 thousand 504. When looked at the interval between 2000-2010, per capita income raised 66.7 percent as PPP. When

Stock Exchange yields maximum monthly profit in September

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urkey's national air carrier Turkish Airlines set for 2012 and foresees a greater budget for 2012, Temel Kotil Director General said.

Temel Kotil, Director General of Turkish Airlines announced that even a big economic crisis would happen in 2012, the airlines is ready for it. "We aim to fly to more number of destinations in 2012. We are working on it. We are expecting a greater budget for 2012," he said.

Kotil said that they attached a great importance to the Gulf and Mideast countries, stating that airlines in Europe and the Gulf have been serving the region.

Recalling that there are journeys worth $14 billion in the axis of the Middle East and Europe, he continued, "It is a remarkable sum. We will focus on Middle East. We are also focusing on Central Asia.”

Kotil noted the number of seats in some of planes and the num-

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n September 2011, Stock Exchange, one of the financial investment tools, yielded the highest monthly real profit with the rates 3.23% and 4.05% according to Producer Price Index and Consumer Price Index respectively.

According to Producer Price Index, the monthly real profit rate of Gold (ingot) and US Dollar were 2.21% and 0.95%, respectively.

However investors of Euro and Deposit Interest lost by -3.20% and 1.02%, respectively. According to Consumer Price Index, the monthly

real profit rate of investors of Gold (ingot) and US Dollar were 3.02% and 1.75%, while investors of Euro and Deposit Interest lost by -2.43% and 0.24%.

Maximum real profit was gained by Gold (ingot) investors quarterly, biannually and annually according to PPI and CPI. Investors of gold (ingot) made the highest real profit with the rates of 25.98% according to PPI and 28.77% according to CPI, quarterly.

The real profit rate of gold (ingot) was

36.32% according to PPI and 37.88% according to CPI biannually.

In the same period, Investors of Stock Exchange made the highest loss with the rates of -12.56% and -11.55% according to PPI and CPI respectively. Page14

the figure reach by $17 thousand 156, per capita income would increase 87.1 percent over the figure in 2000.

What is PPP Purchasing Power Parities (PPPs) are currency conversion rates that both convert to a common currency and equalise the purchasing power of different currencies. In other words, they eliminate the differences in price levels between countries in the process of conversion.