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Year: 4 Issue: 6 Mar.11-22, 2013

www.tcp.gov.tr

NEWS

T u r k e y T a r g e t s 5 B l n U S D B i l a t e r a l T r a d e

V o l u m e W i t h D e n m a r k

Turkish Prime Minister Recep Tayyip Erdogan said

that the annual trade volume between Turkey and

Denmark could reach five billion USD by the end

of 2015. Turkish and Danish delegations met

under the leadership of Erdogan and Danish Prime

Minister Helle Thorning-Schmidt in Copenhagen.

Erdogan said that the annual bilateral trade

volume reached 1.7 billion USD by the end of

2012. Currently, 550 Danish companies were

operating in Turkey, said Erdogan, expressing

belief that Turkish-Danish economic relations would be developed further by the end of

2015. Meanwhile, Danish minister said that there were very sound relations between

Turkey and Denmark, adding that the commerce and investments between the two

countries were increasing each day. Schmidt also said that they envisaged increasing Denmark’s exports to Turkey by 50% till 2016.

To view the news report please visit Ministry of Economy website.

T u r k e y T a r g e t s B o o s t i n g U A E T r a d e V o l u m e T o

$ 5 0 B l n

Economy Minister Zafer Caglayan said the current level of

trade between the United Arab Emirates and Turkey has

not reached its potential and that the trade volume should

be increased to $50 billion from its current $11.8 billion.

During his speech at a UAE-Turkish business forum in Abu

Dhabi, Caglayan urged the businessmen of both countries

to make sure the friendship between the countries is

reflected in their business relations. “The foreign trade volume of our countries combined

is nearly $1 trillion, and although the current value of trade is significant, it is still not at

a desired level. There is no reason for us not to bring this value to $50 billion,” he said.

Noting that some countries had criticized Turkey for shifting its trade focus, Caglayan

argued that many of those countries which criticized Turkey in the past are now

struggling to overcome major economic problems of their own. “By diversifying its

market, Turkey increased its exports and continued improvement,” the minister

remarked. Caglayan mentioned the Turkish construction sector’s success ranking second

in the world with projects worth $244 billion and suggested to the businessmen in

attendance at the Abu Dhabi conference that they take advantage of Turkey’s know-how,

talent and market advantage for their mutual benefit.

To view the news report, please visit Ministry of Economy website.

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Year: 4 Issue: 6 Mar.11-22, 2013

www.tcp.gov.tr

T u r k e y , Q a t a r E x p l o r e B u s i n e s s O p p o r t u n i t i e s

The Qatari Businessmen Association (QBA), in co-operation with the Turkish Foreign

Economic Relations Board (DEIK), held the first meeting of the Turkish-Qatari Business

Council in Istanbul on March 14. The delegation was headed by QBA chairman Sheikh

Faisal bin Qassim al-Thani and comprised QBA secretary-general Issa Abdul Salam Abu

Issa. The Turkish side was attended by chairman of the Turkish-Qatari Business Council,

Mithat Yenigun, and members of the business council along with businessmen from

various sectors. The meeting was initiated by convening the first business council where

both sides shared opinions and suggestions on how to enhance economic co-operation

and trade exchange. It was also proposed that a seminar be organised in Doha that

would focus on the development of industrial co-operation between the two sides and facilitate the entry of medium and small Turkish industries into Qatar.

To view the news report, please visit Ministry of Economy website.

T u r k e y H a s B e e n 4 t h F a s t e s t G r o w i n g C o u n t r y

O n B r a n d i n g , A n n o u n c e d W I P O

According to WIPO’s World Intellectual

Property Indicators 2012, Turkey

became one of the five countries that

grew most on brand, industrial design

and useful model patent fields in 2009-2011.

To view the news report, please visit Ministry of Economy website.

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F o r e i g n C a p i t a l F i r m s I n T u r k e y E x c e e d 3 2 , 0 0 0

The number of foreign capitalized firms operating in Turkey reached 32,604 while a half

of them are EU-based and half of them are in Istanbul. The number of internationally

capitalized companies in Turkey surpassed 30,000 at the end of 2012, with over half of

these companies being European Union-based, according to figures compiled from

Economy Ministry data. There are 32,604 foreign capitalized companies and branches in

Turkey, 5,494 of which are associates of Turkish companies with domestic capital. The

top sector among foreign companies operating in Turkey is wholesale and retail trade, comprising 32 percent of foreign companies.

To view the news report, please visit Ministry of Economy website.

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Year: 4 Issue: 6 Mar.11-22, 2013

www.tcp.gov.tr

B r i t i s h S u p p o r t F o r I s t a n b u l F i n a n c e C e n t e r

The evolution of Turkey’s financial capital into an international finance center wins British

backing. Stating his readiness to share London’s experience as a financial hub, the Lord

Mayor of the City of London, Alderman Roger Gifford said that the UK was ready to be Turkey’s partner in Istanbul’s development as a regional and global financial center.

Visiting Turkey, accompanied by a large trade delegation, the Lord Mayor of London

attended an event entitled “UK and Turkey: Great Partners!” held at the British Consulate

in Istanbul and which explored ways to deepen trade and business links between the two

countries. Noting that Turkey has become the center of attention in its region, the Lord

Mayor said that cooperation between London and Istanbul was very important and that

London would throw all its support and expertise into backing Istanbul as an international financial center.

Source: The news section of ISPAT website

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SEC T OR S

T u r k e y S t e e l B i l l e t s E x p o r t R i s e I n J a n u a r y

According to the data provided by the Turkish Statistical

Institute, in January this year Turkey’s steel billet and

bloom exports amounted to 268,936 tonnes more than

double compared to the 112,179 tonnes recorded in the

previous month and up 55% compared to the same

month of 2012.The revenue generated by these exports

totaled USD 148 million, more than double compared to

the previous month and up 44.7% from January 2012.

According to the data released by TUIK, in January the

average price of Turkey’s steel billet exports stood at

USD 550 per tonne falling compared to the average of USD 589 per tonne recorded in

January 2012. In January this year, Turkey’s billet exports to Saudi Arabia amounted to

178,847 tonnes constituting 66.5% of total Turkish billet exports. The country’s billet

exports to Saudi Arabia increased strongly compared to the 79,996 tonnes recorded last

December, while they were up 45.2% YoY. Egypt was the second biggest export

destination for Turkish steel billet in January this year with exports amounting to 40,000

tonnes more than triple MoM and up 64.4% compared to January 2012.

To view the news report, please visit Ministry of Economy website.

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Year: 4 Issue: 6 Mar.11-22, 2013

www.tcp.gov.tr

N a t u r a l S t o n e E x p o r t s T o C h i n a P r e d i c t e d T o

E x c e e d $ 1 B l n

Aegean Mining Exporters Union President Arslan Erdinç stated

that natural stone exports to China are anticipated to exceed

$1 billion by the end of 2013. Noting that natural stone

exports to China totaled $782 million in 2012, Erdinç

highlighted that Turkish natural stone exporters made Turkey

the most represented country at the 13th Xiamen

International Stone Fair 2013 held in China, to which over 100

Turkish firms attended.

To view the news report, please visit Ministry of Economy website.

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T h e C o u n t r y B u y e r ’ s C r e d i t P r o g r a m F o r

T u r k i s h M a c h i n e r y M a n u f a c t u r i n g S e c t o r

Under the cooperation protocol between Turkish

Eximbank and the Machinery and Parts Exporters

Union, country buyer’s credits are made available for

Turkish machinery exporters in order to enhance their

international competitiveness and to provide them with new financing possibilities.

For the full text please click here.

Source: The Machinery and Accessories Exporters’ Union

F D I I n f l o w I n t o T u r k e y ’ s F i n a n c i a l S e r v i c e s

S e c t o r T o S t r e n g t h e n

Foreign direct investment (FDI) inflow into Turkey’s energy, financial services, and

infrastructure sectors is set to increase in the coming months, the head of the

Investment Support and Promotion Agency of Turkey (ISPAT), Ilker Ayci, said. Sharing

his views about the trends and prospects in Turkey’s investment environment and

improving business relations with neighboring Greece, Ayci highlighted the significant

value of Greek investment in Turkey, putting the figure at USD 6.6 billion over the last decade.

Source: The news section of ISPAT website

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Year: 4 Issue: 6 Mar.11-22, 2013

www.tcp.gov.tr

EVENT S

E C O W A S T u r k i s h P r o d u c t s E x p o 2 0 1 3

ECOWAS Turkish Products Expo 2013 will be held in

Lagos, Nigeria on March 26-28. Turkish National

Participation at the event will be organized with the

support of Republic of Turkey Ministry of Economy. 87 Turkish companies from various sectors will be present at the fair.

For more information about the fair, please visit its website.

T u r k i s h C o m p a n i e s T o P a r t i c i p a t e I n M o s s h o e s

Mosshoes 2013 - 55th International specialized

exhibition for footwear, bags and accessories is held in

Moscow, Russia on March 25 – 28. Turkish National

Participation at the event will be organized with the support of Republic of Turkey

Ministry of Economy. 28 Turkish companies operating in footwear sector will be present

at the fair.

For more information about the fair, please visit its website.

T u r k i s h C o m p a n i e s T o P a r t i c i p a t e I n A P F L

H o n g K o n g

APLF Hong Kong 2013, Asia Pacific Leather Fair, will be

organized in Hong Kong, China on March 25-27, 2013.

Turkish National Participation at the event will be

organized with the support of Republic of Turkey Ministry

of Economy. Turkish companies operating in leatherwear sector will be present at the fair.

For more information about the fair, please visit its website.

Warning: This bulletin was prepared by the Republic of Turkey Ministry of Economy General Directorate of Exports only for information purposes, by making use of public resources which are assumed to be reliable. Ministry of Economy in no way guarantees that the information included

here is completely accurate and does not accept the liability of harms and losses that may result from the utilization of information included in this bulletin.