Made In Turkey August by İstmag Magazin Grubu

their country would be better gested , as the economy minister reiterated doubts over whether Greece can stay in the single currency. The Emnid poll

economy would be better outside the

The survey also mans wanted Greeceto leave

Sonntag mass circulation weekly

not live up to its austerity promises. Page 7

STANBUL - Deputy Prime Minister Ali Babacan says Turkey needs to be cautious. Deputy Prime Minister Ali Babacan said that while Europe an economic crisis, Turkey would have to act in a very cautious “Growth is good, but when we l o o k

planning to construct the country’s largest science center, according to the local mayor. “The science center will introduce nology and will allow visitors to discover and experiment, said Ankara

ccording to a report conducted by the Cen-

with the geographical regions and sectors where exports are predominantly made. According to this end, ing its exports towards

adding that the venue’s planned green Page 5 Page 9

nternational Monetary Fund Managing Director Christine Lagarde. AFP photo Turkey will serve as the deputy executive direc-

deeper we see that it is based on bormoney. This yearTurkey will grow sustainable, more continuous and grounded growth. Sure, you can achieve rapid growth in the short

we are thinking about both today and tomorrow, we have to be cautious,” Babacan said. Babacan said Turkey was growing, but so too were its citizens’ banking debts. cautions, our banks’ loan volumes Turkish Deputy would have grown Prime Minister Ali Babacan

year. With our precautions we were cent,” Babacan added. He said that this year loan volumes would be in

The Turkish Central Bank has re-

spending more than their monthly

ernment’s dependability, total wealth Babacan also criticized Europe’s

es. “

reasury. The move comes as the monetary

percent, based on the downward assumptions basically on energy and

Managing Director Christine Lagarde.

cits were too large. He also pointed out, “We asked them

designed to give a greater voice to developing countries on quotas and governance. Page 9

revealing the bank’s third report on inkeep spending and they told us ‘we

citizens’ and companies’

eurozone.”

ish Statistical Institute data. Page 6

L T

u r k e y ’ s national air carrier Turkish Airlines was ranked

Association (IATA). Turkish Airlines aims to have a Airlines with 696 planes and FederalExpress (FedEx) Headquartered in Istanbul, Turkish Airlines operates

w o r l d airplanes airline rankings compiled by the International Air Transport

uxurious Pullman coaches, whose productions have been carried out by TUVASAS, (Turkish Wagon Industry) were delivered to the Bulgarian Railways with a ceremony held at the Directorate building. Speaking at the ceremony, Ibrahim

urkish-Egyptian trade volume is estimated to in-

said.

news agency. However, Turkish investors in Egypt experience bureaucurity, Ekinci said. Page 9

and vacuumed toilet system make the project single in its class. He noted that along with the exports to Bulgaria their direction

the European Union and then to rican countries and the Turkic Republics. Page 12

Page 13

Americas. Page 6

o-Ro ships will carry Turkish exports to the Middle East bypassing Syria due to the recent border closings. ing its borders with Syria, there could be heightened

southern

TUVASAS, said, they were enjoy-

Bank. Turkish Central Bank predicted year-

the

placed American Delta Airlines

urkish Central Bank revised the yearend consumer prices index (CPI) down to 6.98 percent in its second term survey. The year-end CPI had been 7.02 percent in the

beds, intercom system which allows passengers communicate tranet camera system at corridors

to Turkish Exporters Union riod last year. Page 13 ro ships would allow Turkish exporters to bypass Syria and get their products to other countries in the region. Turkey’s trade volume with Syria has witnessed an in-

Mediterranean

Nail Olpak

he Independent Industrialists’ and Businessmen’s

TIM Chairman

and Addis Ababa. Page 12

NKARA - The debt crisis is producing new opportuni-

sought, according to Bülent Gedikli, and Development Party. Turkey, and Turkish banks in particu-

interview with Anatolia news agency. “As this crisis will last a long time,

ourists walk by the Italian cruise ship Diva in Marmaris on the Aegean coast. The number

sengers who came to the country on those ships has climbed 276 percent in last nine years. Page 8

ompany plants and buildings will be included in Turkey’s new incentive system in the new term, which has supported some

Page 9

the scheme. Page 7

who come to Turkeymake long-term plans.” opportunities, the deputy president said, calling them “the interest rate company or institution name. Page 6

Made in Turkey Economic Newspaper, August 2012

Mehmet Soztutan

lion. I take the lead among all the products pro-

have played a crucial role in the country’s economy and in creating employment, according to the Economy Min-

industrial goods. Plant products come processed agricultural products in third

news!

ood news is good news when it comes to the Turkish economy.

The country’s banking sector, which has assumed an impor-

“I am also angry..”

While any central bank must be able to conduct open-market operations to man-

British politicians have seized on the case as a

bonds that bear high interest rates because unnecessary and dangerous. A better rule

parliamentary committee, the man who until

percent, in EU countries at

market operations by buying and selling a

sive reputation acknowledged “inexcusable” behavior among his group’s traders. “When I -

percent, a n d rica and the Middle East had an 8 percent the trade pie.

trade, with a trade turnover cording to the data. The Istanbul Industrial and Trade Free -

each country’s share in the basket determined by its share in the ECB’s capital.” Am I right?

G. Rring/ Brussels

Sovereign debt crisis crisis developed among investors as a re-

a concern, given the ongoing European debt crisis. Actually, the Turkish economy has turned out to be resilient to external

debt levels around the worldtogether with

the crisis varied by country. In several

the statement said.

T -

urkey’s Central Bank has not changed its main interest rates

sion was disclosed.

and building up its hard currency reserves. The bank kept its main policy rate, the

on policy due to global economic uncertainties - language that pointed to concern over a lira rate whose strength is

It reiterated that it may make a limited

tem bailouts and government responses to slowing economies post-bubble. In Greece, unsustainable public sector wage and pension commitments drove the debt

overnight rate, said Capital Economics emerging markets economist Wil-

wear and chemicals sectors.

and public pension rules) contributed to ropean leaders to respond. That is all I can

and their partners.

H. Poplus/ Bern above target.

urkish statistics institute, TurkStat, released the industrial

Accordingly, in the sub

Calendar adjusted produc-

increased 2.7 percent com-

Turkey’s industrial production index rose by 2.7 per-

percent, and electricity, gas, steam and air conditioning supply index increased 9.2 percent.

seasonal and calendar adjusted industrial production index was down 2 percent compared to the previous month.

20 throughout the summer. Global oil demand rose

world. Electricity production in

same month preceding year.

enewable sources increased their share in the total primary energy supply to

not only the leading nonhydro renewable energy it also had the largest in-

al natural gas production increased by over 2%, and ar electricity production due to a 9.2% decrease in Total global coal production increased by 6.6% in -

ternational Energy Agency (IEA). While coal production only increased by 0.8% tion climbed by 9% with est importer, and Indonesia becoming the world’s largest exporter, surpassing Australia. These statistics are drawn

annual IEA statistical publications on major energy sources. These annual IEA statistics books, which -

large part to the conseat the Fukushima nuclear growth. Motor gasoline -

nuclear electricity producwhile in Germany produc-

dropped by more than 2%, continuing a downward trend which began back in 2006. Global natural gas consumption increased by smaller increase than the sizeable 7.2% leap seen -

Looking at renewable sources, their share in the total primary energy supply increased to 8.2%

not only the leading nonhydro renewable energy it also had the largest in-

countries, which account

behavior was reprehensible, it was wrong. I am sorry, I am disappointed and I am also angry.” He said those involved in rigging interest rates would be subject to criminal investigation and should be “dealt with harshly”. The wrongdolove so much”, the American banker said. But he also insisted that Barclays was being made a scapegoat because it had cooperated with the authorities to help unearth the misdeeds. I am not convinced by these arguments.

F. Kreng/ Madrit

Criminal charges Criminal charges can be brought against those

the Liborrigging scandal.

as a monetary union (i.e., one currency)

said it would also maintain a cautious -

highlighted e-mails disclosed in the case which -

was predominantly targeted locally in Turkey -

“positive.”

Financial markets

rates”. Although the agency would only con

institutions”, lawyers told City. Let’s wait and see. D. Rigget/London

Made in Turkey Economic Newspaper, August 2012

iven the exceptional drought in the US, current crop conditions in other grain producing regions, and the resulting increase

who are highly vulnerable to increases

people,” said World Bank Group Presiand our partners are monitoring this situation closely, so we can help governments put policies in place to help people better cope.” “In the short-term, measures such as grams can help to ease pressure on the poor,” continued Kim. “In the mediumto long-term, the world needs strong and stable policies and sustained investments in agriculture in poor countries. spikes to have damaging long-term con-

dependent upon global weather, which leaves prices more vulnerable to higher volatility. Food price volatility generates unpredictability in the market and poses

low, and the harvests will continue to be

he European Commission has published proposals that will -

the meat.

consumers and governments. Volatility also discourages needed investment in -

tripled, which had a huge negative impact on the poor, especially in Asia. Although current rice prices remain at elevated levels, existing rice stocks are -

have risen sharply, the Bank noted that

than in 2008, which will both ease the

2008 crisis. In 2008, while other grains increased in price, rice and wheat prices

crop.

quite substantially in 2009 due to a nota-

global markets is exacerbated by other

prices have risen across all the non-rice grains - wheat, corn and soybeans:

weather-related production issues. Almost continuous rain is causing probpean countries, whereas the wheat crops in Russia, Ukraine and Kazakhstan have -

curity Program, and risk management products. We are also coordinating with UN agencies through the High-Level Task Force on the Global Food Security Crisis and with non-governmental organizations, as well as supporting the -

The World Bank has long cautioned that we can expect to see volatile, higher than average grain prices until at least

a threat to global growth and social stability. However, higher prices can bring desperately needed income to increase their production and thereby solution. There are nearly one billion hungry people worldwide. More than 60 per-

and is the critical planting month and there last year.

vulnerable.” -

harvests, not spikes. There had been beans in the United States, and the disastrous drought was unpredictable at

and 2008, car makers worked to a volclear this would not be met, agree-

welcomed the proposals but says a lot

clause saying they should be reviewed

Commission had shown more ambi-

duction in nine years. By contrast, the

The EU climate commissioner Connie Hedegaard said: ‘With our proposals we are not only protecting the climate and saving consumers money. We are also boosting innovation and competitiveness in the European automotive industry, and we will generate substan-

The Commission’s proposals are the

one.’ The commissioner was joined in

rains do not pick up. Should the current situation escalate, the World Bank Group stands ready to assist client countries through measures such as increased agriculture and agriculture-related investment, policy donor Global Agriculture and Food Se-

at emphasising the extent to which the measure will enable consumers to benThe Commission’s statement also said the proposed targets were ‘achievable, tive: the technology is readily available, its cost is substantially lower than previously thought, and its implementation should boost employment ers and industry.’

deaths globally are attributed to underbrain architecture develops during the

young children.

motive industry. As a result, we hope the Commission will look seriously at

sold in reality. An additional concern is that the proposal still rewards mak-

vehicles, Greg Archer, said: ‘This is a make cars lighter. said: ‘It’s clearly nonsense to set a tar-

target would keep the EU setting the

real waste to not put them in vans but

via the Provincial Administration. Within

ued in the industrial parcels, as production

About activities that were accomplished to the zone, and natural gas supply has

parcels), machinery assembling activity

ness. ture Financial Support Program” by Thra-

the best suitable location in terms dustrialists. With its enlarging capacity -

remote meter reading have been completed and remote electricity meter reading has been started. today, sewerage and rain water discharg-

parcels).

Made in Turkey Economic Newspaper, August 2012

Mehmet Söztutan (msoztutan@img.com.tr) Editor

Ibrahim Kupeli (ikupeli@img.com.tr)

hile our neighboring country Syria has been struggling to win democratic rights against the tyrannic leader, their conditions are not suitable to consider the economic situation. -

said the economy would continue in recesexpected.

merciless and unjust carnages to which

Correspondents:

( eocal@img.com.tr ) Hakan Alkan (hakan.alkan@img.com.tr)

(ismail.ozcelik@img.com.tr)

trying to get recovery since 2008. Downward trend is persisting its impres-

According to a source, political leaders in ty measures demanded by its creditors and

recovery expected would be achieved in

It was also indicated that Greece also must

ingly impatient lenders. Many countries that use the euro, including France and Italy, also have double-digit unemployment rates. Germany, Europe’s biggest economy, its unemployment rate, according to Eurostat, dropped to

handle the crisis. The analysts say the arguments about European policy are taking on a “very dangerous” tone, as worries the euro. Pessimist and negative developments sustain their

www.img.com.tr E-mail: img@img.com.tr

cause to emerge concerns about union monetary unit, euro.

Ibrahim Kupeli ikupeli@img.com.tr

Bank, it is decisive to preserve euro. Meanwhile, the constrictions in the econo-

try, the UK economy slumped 0.7 percent in the 2nd quarter, worsethan-expected amount in the second quarter. Developments in European economy commented -

Government lies, and newspapers lie, but in a number you press. No one will answer. A Soviet journalist walks into the hospital and tells the desk nurse, “I want to see the eye-ear doctor.” “There is no such doctor” she tells him. “Perhaps you would like to see someone else?” “No, I need to see an eye-ear doctor,” he says. “But there is no such doctor,” she replies.

doctor.” No help. He repeats, “I want to see the eyeear doctor.” and then the nurse says: “Comrade, there is would you want to see him?” “Because,” he replies, “I keep hearing one thing and seeing another.” Welcome to the Psychiatric Hotline.

to press 2.

debt crisis concerns, had the highest unem-

Please mention “Made in Turkey” when writing to advertisers

percent. Spain’s downturn deepened in the second

Doctor, doctor, I keep thinking I’m a bell. give me a ring. Doctor, doctor, people tell me I’m a wheelbarrow. Don’t let people push you around. Doctor, doctor, I keep thinking I’m invisible. Who said that?! Doctor, doctor, nobody understands me. What do you mean by that? Doctor, doctor, People keep ignoring me! Next! Doctor, doctor, No one believes a word I say. Tell me the truth now, what’s your REAL problem?

Doctor, Doctor, I can’t stop stealing things. economy.

May, and is the highest level since the euro

curtains!

I’ll deal with you later. Doctor, doctor, people keep telling me I’m ugly!

In conclusion, new measures expected to

markets. The unemployment rate maintains its up-

hallucinate, please be aware that the thing

line so we can trace the call. a little voice will tell you which number to press.

as raising the retirement age by a year to cording to the statements. However, European Central Bank president Mario Draghi announced the bank “is ready to do what it takes to preserve the euro.” German Chancellor Angela Merkel and French President Francois Hollande also vowed to do “everything to protect the eurozone”.

work I’ll have a color TV! Doctor, doctor, I keep thinking I’m a spoon. Sit there and don’t stir.

THE ECONOMIST What is a consultant?

A consultant is someone who

Well!

and tells you the time.

Difficulty level: 7

Difficulty level: 10

Made in Turkey Economic Newspaper, August 2012

CPI, quarterly. -

ing to Producer Price Index and Consumer Price Index respectively. According to Producer Price Index, the would be granted by their union to the admin-

meters at the airport. Erdinc noted that other ter-

Union, Arslan Erdinc, said that at the

such as South Asia, Turkic Republics, and some

investment tools were listed in descending order with respect to their yearly real

According to Consumer Price Index, the

Dollar, Deposit Interest, Stock Exchange

Deposit Interest was 0.72%, while inves-

(ingot), US Dollar and Deposit Interest ing to PPI, respectively, however in the same period Stock Exchange and Euro

respectively. -

most airports in the world.

source, we think that our beige marble use would increase across the world, Erdinc recorded. Erdinc highlighted that they were getting high

Euro, Gold (ingot) and US Dollar lost by

which will be covered by the Burdur beige marble, will bring an opportunity to promote the Turkish marble. Turkish stones would be used at

He noted that too many demands come to the

two years and, with quarter-on-quarter GDP

Stock Exchange investors quarterly and bi-annually, by Gold (ingot) investors annually according to PPI and CPI.

and 0.28% respectively, whereas in the same period Deposit Interest, Stock Ex-

est rates

and guarantees to weaker European members about equivalent to the central government’s

The bond markets have demanded that countries such as Italy and Spain pay prohibitively high borrowing costs rates to sell their debt amid worries over their sluggish economies

Press. Some analysts argue that the eurozone debt

urkish Petroleum Corporation -

Germany, giving the government extra leeway

Umucu noted that the corporation would -

debt burden while other countries in the euro-

“our prediction is to obtain 70 million

percent. In other words, investors are losing

gas production in Turkey were realized to investment that we have made and the allowance we will receive,” said Umucu.

interest rates will burden these countries’ state euros in debt at record low - sometimes negative - interest rates. Germany Europe’s biggest economy and is the biggest single contributor to eurozone restry’s economy has grown steadily in the past

take on more debt to rescue banks and stimulate the economy. Because Germany’s overall

position to generate added value chains in Ceyhan which is expected to be one

with the Kuwait Energy and United Arab

European Central Bank recently cut the rate it is not that easy to say how much Germany “The interest rates are unnaturally low at

Schaeuble acknowledged last month, adding nancial markets.”

natural gas exploration projects both added.

mission to develop domestic and international resources and meet the continu-

dustry, its international experiences and being shareholders in the world wide pipeline projects such as Baku-TbilisiSouth Caucasus Natural Gas Pipeline (SCP).

Made in Turkey Economic Newspaper, August 2012

hanks to Turkish exporters has worked studiously to lower unemployment,

(TUIK) marked that Turkey is steadily distinguished clearly

Eurostat, unemployment rate in

countries, Mehmet Buyukeksi,

May, Buyukeksi said, adding

Assembly (TIM), said.

unemployment in Euro area was

ployment which were announced by Turkish Statistical Institute

date. “While unemployment has been rising by record levels in Europe,

in Turkey it has been decreasing exports is the positive separaa situation that economic crisis is being experienced in Europe Chairman Buyukeksi recorded. He noted that the exporters in Turkey, who had engaged in

working.

Continued From Page 1 to reach by 600 megawatt within in solar panel and battery in the world, CSUN has decided to establish the biggest solar energy

and Seul Energy. Turkey’s Energy Market Regulation Board Chairman Hasan Koktas said they have seen most productive cell in the world. Koktas noted that they had ne-

China. Koktas also highlighted quality sun, demand to energy increases quickly and closeness to the European and Middle Eastern markets have emerged ment.

hina Sunergy (CSUN) is going to invest in Turkey in the solar panel sector. CSUN will be investing worth est in Europe. CSUN will become partners Seul Energy.

ergy is an international high-tech enterprise with advanced photovoltaic technology, specialized lar cells. As a NASDAQ-listed solar cell production lines. The solar power plant is aimed

Huang said they had attached importance quite to invest in Turkey, in addition to the Turkish market to the surrounding countries and especially European market. “We have come to make decision stallation. We will invest worth

reach 600 megawatt capacity within three years. Turkey indicates to become an outstanding market due to continuously raising energy need,” Huang said. ergy ergy is an international high-tech enterprise with advanced photovoltaic technology, specialized

said, adding that Turkey can become a dethe European Union, like Switzerland. “Europe is naturally a very important player and I support Turkey’s EU membership bid, but it is not our only solution. Turkey can become a country like Switzerland in its location. Similar to Switzerland’s role in Europe, Turkeycan be tied to Europe and [have much more active relations with] the surrounding Middle Eastern and Turkic countries and Russia,” Karaca said, adding -

level in the medium term,” he said.

adding that the bank also revised down cells and devoted to providing green and clean solar energy to global customers. As a NASDAQ-listed company,

said. Turkey’s share in last year’s global

cell production lines. The cell production capacity at the end

the previous year, he said.

the planned cell production ca-

He said it was highly likely that the policy rates will be kept at historically low levels

the planned module production

corridor wide serves the purpose prevent

At present, the marketing and service network has covered Europe, America, Australia and Asia, etc and the products have been extensively applied in the communication and urban con-

eign direct investment according to UNC-

eign currency. Karaca said.

Turkey’s International Investors Associa-

world.

ccording to the -

Construction Industrialists

Materials (IMSAD),

cess, works towards marthe same period. Parallel-

sector shows a positive table. In this scope, in the

slowing down in investment and consumption exports. Increase in goods and service exports have

Continued From Page 1 urkish Airlines Director General Temel Kotil

two-a-day since the Arab

Continued From Page 1 owever, Gedikli said the grades

credit rating companies are triggering large discussions as their criteria are not transparent. These bodies have lost

tinue to register current account surpluses, cit, Karaca said.

the sector accomplished

billion. In the same pe-

same period last year. Depending on this, direct the construction to the current account has become -

to the report. Import coverage ratio is another element in the sector, this ratio has been contributing to reduce current account cent years.

Spring started, and that -

Flights to Syria were

bul, Turkish Airlines operates scheduled services

the revolution there. Turkish Airlines is also

mestic airports), serving

to six cities in Iraq, he said.

hoped the problems in Syria would be solved start. Headquartered in Istan-

much reliability since 2008, he added. “To regain their reputation they should upgrade Turkeyto ‘investable’ status. … They have no other way, and they pan Credit Rating Agen-

its outlook on Turkey to positive. This means that [Turkey’s position] is obvious.” The European countries are caught in a “euro trap,” according to the -

the Americas.

gued that the members have no chance to devaluate their currency. This makes the eurozone countries lose their power to compete as Turkish goods remain cheap, he said.

Made in Turkey Economic Newspaper, August 2012

Continued From Page 1 conomy Minister Philipp Roesler told Bild am Sonntag there were “considerable doubts -

stay in the single currency club. Debt-wracked Greece is under immense pressure to -

Continued From Page 1

International auditors are currently in Greece, assess-

there can be no more money. ThenGreece would be insolvent.” Roesler and his party -- junior partners pressed doubts about whether Greece is prepared to

e said the business world had voiced a

The audit report will determine whether Greece will

incentive system. currently. Now we include purchasing company system,” he said, adding that the plot would not be subject to tax deduction. Individuals may evaluate their existing premises

sell a building in his or her possession to his or her company in this regard. country will be an impetus to bring plants or such

urkish automotive sector’s ex-

EU countries in our automotive exports

percent, when compared to the same month last year, and was record-

2008 when the shrinking rate was 60 percent,” Sabuncu said.

The crisis in the EU had a negative impact on Turkey’s exports, including the automotive sector, Sabuncu stressed. Sabuncu said that there was a decline in Turkish exports in all product groups.

reasons, into the economy, he said. The Ministry -

in the EU automotive market has reports. “We are studiously working to diversi-

to all regions,” Sabuncu noted. sion has been experienced in all auto-

percent, when compared to the same period last year, and were recorded as

agriculture, and 2.9 percent in energy sectors. Textile and ready-wear investments took the high-

Sabuncu marked that downward trend in the automotive industry stemmed -

ish automotive industry.

cent in the EU countries has become the highest rate since 2009 when it was

riod last year. In this period supplier

billion 887 million. -

xperts predict explosive growth in mobile

tion System (INIS) is leveraging the increased use

mobile computing are expected to create an even target a new audience. INIS is operated by the IAEA in collaboration with vices, including smartphones and tablets running -

be able to explore the website on the mobile device need. The website will automatically redirect to the Promoting Mobile Technologies

demic and research institutions and private companies.

at the IAEA to promote online-based knowledgesharing and electronic learning (eLearning). To date,

many IAEA Member States, and as such, represents

IAEA’s Human Health Division within the Departdevices and many users have been requesting better mobile compatibility.” -

beverages, mining, tourism, rubber and plastics,

newly constructed airport in the southeastern -

opened a mobile learning (mLearning) programme to the general public.

worth 77 million Turkish liras to be a major solution to the city’s visitors.

nor.

role on the transportation between Turkey and Mid-

senger capacity airport is going to be at the service and contribute to the tourism and economy.

company, the Dogusan Dogru, stated that the airport is being built in the international standards. merce and Industry, said, “Turkey’s annual exports to take long highway routes however now they can then in an hour they will arrive in Iraq. So, Sirnak airport will contribute to exports. Northern Iraqis

while, he added. “I’d like to state that the [number

Made in Turkey Economic Newspaper, August 2012

ccording to Producer Price Index, the monthly real

US Dollar, Deposit Inter-

respectively. According to Consumer Price Index,

quarterly, maximum real Dollar investors, by Stock Exchange investors biannually and by Gold (ingot) investors annually according to PPI and CPI. -

(ingot), US Dollar and De-

according quarterly.

PPI

Stock

Exchange

was

old (ingot), US Dollar, Deposit Interest, Euro and Stock Exchange.

CPI biannually. In the Euro made the highest loss

PPI and CPI respectively.

and investment tools were listed in descending order with respect to their

Gold (ingot), US Dollar and Deposit Interest were respectively, however in the same period Euro and Stock Exchange lost by spectively, according to

Interest, Euro and Stock ever according to CPI in the same period Deposit

Union (IMIB).

ral stone sector’s accomplished exports worth

spectively.

compared to the same period last year. -

were the processed marble and travertine worth

key accomplished 86 per-

which

achieve

exports -

billion. According to the ers’ Assembly (TIM), ten

billion.

The apparel sector shipped ready-to-wear goods worth

processed marble and travertine increased 8.8 percent.

million over the same period last year. Featuring as the locomotive sector in automotive exports, the northwestern -

66.6 percent and perlite with 22.2 percent. mining products to China, the USA, India, Italy -

tric-electronic sector with

Istanbul accomplished ex-

respectively.

In this achievement, Istan-

plished exports in the au-

wear and clothing sector

billion 688 million.

northwest-

ready-to-wear exports in

Turkey’s textile industry,

lion over the same period previous year. The province’s textile

ready-to-wear

percent

year-on-year,

Bursa, mostly to debtcrisis-hit European markets, were cushioned by

ers’ Associations (UIB).

into the “Arab Spring” countries, according to the Uludag Fruit and Vegetable Exporter’s Union. Despite most exports were made to the U.K.

to-wear

exports

regis-

reduction over the same period this year. Readyto-wear exports were at

exports

percent to the Nether-

Bursa’s textile producers exported goods to tonomous regions, while -

Belgium, by 22.7 percent

and autonomous regions.

and vegetable exports to -

percent to Spain. However, 7.87 percent boost

textile exports boosted to Algeria.

Continued From Page 1 ruise ship tourism, which attracts high income people, has grown

year.

ships visiting Turkey was 887 carrying a total

year. ists coming toTurkey by cruise ship has recorded a year-on-year increase

global economic crisis.

ing 2.2 million passengers

to Turkey. Istanbul, the western ports drum and Marmaris, and -

ports.

Made in Turkey Economic Newspaper, August 2012

Continued From Page 1 he executive board -

have decided to join the

on their voting powers

which the Netherlands is the executive director.

will re-assume the post

appointed or elected by member countries or

directorship will be as-

T -

and will act as deputy executive director during other periods

groups alternately based cal data about oil and natural gas activities in Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates and Ven-

World oil consumption last year also increased by 0.9%, but this growth was seen solely in emerging economies, primarily in Asia - and in particular, China - but also in Latin America -

tries rose 0 . 7 % -

b y d u r i n g

or 2% year-on-year. countries around the world. The bulletin provides detailed time-series data industry, including imports and exports, upstream and downstream projects, and exploration and production activities. an important role in the natural gas market last year, with proven natural gas reserves results. While Canadian, US and Middle East crude production increased, Western Europe-

North American and Latin American countries

Countries with large economies have their own executive directors, while most countries are grouped into constituenmore countries. Currently Belgium represents Turkey at the executive board, along with Austria, Belarus, the Czech Republic, Hungary, Kosovo, Luxembourg, the Slovak Republic and Slovenia, according to the IMF’s website. Belgium and Luxembourg

packaging, logistic and insurance compa-

globally leading raw material suppliers and also some Public Corporations such as IM-

Raw Materials, Auxiliary t

be taking place with national and international participation

the paintistanbul ported by major Turkish paint producers as well as

Bridging the emerging markets countries within highly industrialized

Mineral and Metal Exporters’ Association), -

producers as well as raw material and ser-

the world who can watch the innovations in science and technology world. Furthermore, they can also observe the developments and share the opportunities in those

based on bringing together the prominent representatives and decision makers material suppliers, researchers, universities and related aca-

TUMIAD Ekinci emphasized that Turkish companies engaged in threads, textile goods, readymade gar-

ments, and spare parts tians. Egyptian Businessmen’s Association (TUMIAD), they expected the Turkish-Egyptian trade vol-

Continued From Page 1 he science center will be made possible by the Ankara Metropolitan Municipal-

percent and to achieve

Turkish companies engaged in threads, textile goods, readymade garments, and spare parts -

The mayor said there were

will be indoors while an-

centers in the world and that it was necessary to in-

will in an open area. Technological

Research basak signed the prelimi-

The research council has allocated 60 million Turk-

Continued From Page 1 urkish companies involved in threads, textile goods, ready made garments, and spare tians, Ekinci said. While Turkey exports iron, steel, ready made garments, spare parts and chemical products

In his announcement, Ekinci said that “the Turkish commercial investments in Egypt

tians, Ekinci noted. Turkey exports iron, steel, readymade clothing, spare parts and chemical products to ports chemical goods, manure, threads, textile goods, construction materials and readymade clothing to Turkey, according to the statement

and Arab countries.

centers in Turkey. The science center is expected to The Arab Spring has seen a numbers between Turkey

to Egypt, Egypt exports chemical goods, manure, threads, textile goods, construction materials and ready made garments to Turkey, Ekinci said. Meanwhile, Turkish exporters have demanded additional ro-ro lines to es other than the southern

the Turkey-Egypt Business Council disclosed. project to establish a ro-ro line between Mersin and Egypt’s Port Said in April. Exporters are increasingly demanding ro-ro lines to Middle Eastern markets

through Syria. “We will continue with our activities to start ro-ro services to [Egypt’s] Al-

the Marmara, Thrace and Aegean regions,” she said.

Continued From Page 1 he new rules will

vestor, and thus enter the Chinese market, said the China Securities Regulatory Commission. Foreign investors will now also be able to put their money into China’s interbank bond market and high-yield bond market, said the regulator. The steps should lead -

eign investment on China’s capital markets,” according to a statement China has introduced a -

kets in recent months in economy, which grew 7.6 percent in the second quarter, its slowest years.

Made in Turkey Economic Newspaper, August 2012

can countries as well as Russian, EU and M i d east

reals and pulse exporters evaluated the exports which are shipped throughout the world. Batalli said that they had

cannot be ignored on the way branding trends closely across the world. Batalli stated that their work would continue without stopping to solve -

countries,” he

ers’ Union is searchnoted.

“Within upcoming months we will be working to raise the exports in many -

Economy regarding International Competitiveness Promotion’s applications the new incentive law.

u r k e y ’s Cereals, Export-

GAIB (Southeastern Anatolian Exporters’ Union), the exporters have been developing strategies to ac-

brings high export rates and institutionalization. As the union we will realize remarkable developments to promote the exported products throughout the world this year. As well as we act in many countries across the world, we will also ucts,” Batalli said.

the problems experienced dur-

peach producers in the northwestern province

ket their produce. The peach producers target to en-

urkey’s

aquaculture

and Russian.

products

according to Turkish Statistic Institute (TurkStat).

Turkey’s grain exports increased lion. Turkey’s Central Anatolian cereal ex-

same period over the same period previous year. Mostly being shipped to Iraq, Iran and creased 2.6 percent in this period.

He noted the overall cereal exports

showed a decrease, which has an important share in the inland water products. tons and aquaculture production became aquaculture production took place at the

period.In this period the exports were mostly accomplished to Iraq, Indonesia and Libya.

most important types produced at the in-

Sea products production showed an inUnlu added. Unlu also said the milling -

yields are high this year, adding that exports would Peach is also cultivated in the Canakkale region. los peach was exported. In recent years, the exports countries in addition to the EU and Russian Federa-

said, they, as the union, had accelerated their works continue our work as nonstop to increase agricultural values and economic values and in order to

million.

ports permanent.

Made in Turkey Economic Newspaper, August 2012

ountries must take immediate action to promote

sity International, which specialProtection Division, Barbara Burl-

biodiversity to improve the health -

Sustainable Diets and Biodiversity. “While over 900 million people

book, jointly published with Bioversity International, a non-governmental organization.

a global level. In addition, as the

has helped to reinstate a number til recently considered to be poor

countries increases, they are more likely to abandon traditional plantare overweight or obese, and an

micronutrient malnutrition including vitamin A, iron, or iodine de-

and diets are not sustainable,” says

the link between poor diets and non-communicable diseases such as diabetes and cardiovascular diseases. The book notes that high-input industrial agriculture and long-dis-

and available across the globe, -

quality and have heavy carbon and

liance on certain crops has had a

nightshade, cowpea and pumpkin leaves, spider plant and vine spinach, has increased both within households and in the market ben-

and animal genetic diversity, the

new

ground-breaking

study, (excluding core religious travel expen-

er Needs,’ shows that Muslim tourists globally represent a major niche market

rently threatened with extinction. sity International, Emile Frison, stated that there is an urgent need jor staple crops, and look at underutilized plant and animal species that could be rich in nutrients and help achieve a sustainable diet.

ments) global outbound tourism expenditure in

towards sustainable diets,” Ms. Burlingame said. “Sustainable di-

global economic environment, the Study highlights how airlines, tourism destinaengaging with a market that has a young

biodiversity, including traditional nutritionally rich species and varieties.”

market as a whole is larger than the largest spending tourist market in the world

and is increasingly asserting its unique needs on the tourism industry. global Muslim tourist outbound expenditralia’s Gold Coast is attracting Muslim dan Lounge. Kuwait

urkey is targeting to become the second Dubai in special health services by having hospitals, rehabilitation ties, and elderly care in addition to holiday villages.

Muslim countries also have sizable outbound tourism expenditure share. The

Dursun Aydin recorded that the Dursun Aydin marked that they were outlining plans on the estabdevelop the health tourism and

region. By achieving the targets, they ployment, bring in the skilled

He also noted that they were working on the topics such as medics who cannot speak Turk-

cember and investments and the building and zoning operations

consultant medics, agreements with Social Security Institution

Russia, France and UK. lowing six markets are Singapore, Russia, China France, Thailand and Italy

Ciragan Palace Kempinski Hotel in Tur-

sure:, top answers were, “Halal Food”

services.

care) services outside the special and healing centers in Turkey, adding that Turkey attracts great

lim countries.

nology and encourage produc-

Turkish market, accomplishing

years in Turkish market, reach-

Turkey has also launched to ex-

sumption is made throughout

producers, Belgium and Austria.

Fitr (Ramadan) and Eid al-Adha

periods, per capita consumption late in Turkey. eign brands in Turkish chocolate

and Sweet Industry aims to ex-

exports boosted sizeable in the

products mainly to EU countries, sia, Saudi Arabia, U.S., Turkic republics, Middle East and Far East.”

n the domestic market, num-

% in comparison to the same period

Turkish Statistic Institute (TukStat). and 72,287 units, motorcycles with (20,276), small trucks with the ratio

small buses, small trucks, trucks, special purpose vehicles decreased

es, buses, trucks and special pur-

tractors and special purpose ve%.

the hand over motor vehicles with

use LPG considering ous month. In proportion to the previous month, Turkish hazelnut exporters shipped -

the natural kernelled hazelnut was Exporting to nearly 90 countries, Turkish hazelnut exporters gained -

and Products Exporters, the hazeltons hazelnuts.

hicles in Turkey reached by

countries, 22 thousand 760 tons to tries. Last year, hazelnut exports were

%. Cars, small buses, buses, small trucks, trucks, motorcycles and special purpose vehicles increased with

small trucks, motorcycles, tractors, trucks, small buses, buses and special purpose vehicles became -

tively.

Made in Turkey Economic Newspaper, August 2012

Railways in a shortest time. I believe that these works continue and we will get the rest ones in the next months this year,” Moskovski said. At the ceremony, delivering a speech Biitime and Communication, congratulated TUVASAS due to a prestigious project was accomplished, adding that beyond TUVASAS also had opened abroad. “These works which have exceeded

led to the problems and interruptions in railway industry and resulted in the in-

in the establishment which had been Continued From Page 1

day’s trend with modern appearance

Continued From Page 1

Transport Ivaylo Moskovski indicated that they had been in happiness regarding the project has been completed. “The coaches, which we have taken, characterize to respond to all EU cri-

part will raise the passenger comport in

Turkey’s borders with Syria, trade with other countries duction in trade with Syria is not a new phenomenon. We’ve er countries. Since many Turkish trucks have been burned, a

coach and M80 coach with personal department), modernization coach projects

said. The railway transportation which

ported and repair and maintenance works

send their goods via Syria. The Mersin ro-ro line was inaugurated and right now it appears as the only alternative,” said

trade is up during the summer months, so are export volumes.

other border points in Turkey

period last year. The chamber’s

chairman

Gürbulak border in Turkey’s -

news agency that Mersin was a candidate to carry “Turkey’s load” with ro-ro ships.

MEDIUM

HARD

Hisarciklioglu said, “In this regard, the digital tachograph devices, built through

while strengthening its domestic organizational structure,

breaking meal.

FIENDISH

Continued From Page

U.S., he said, adding that work on other regions was accelerating.

and many thresholds have been passed both in political and economic

their laurels and [should] adapt to developments.”

they have adopted the Digital Tachograph Device Project to address this obligation.

they have completed the project regarding the tachograph cards on time and that they -

Stating that the digital tachograph device

via land transportation, Hisarciklioglu said that Turkey has become the second largest tional road transportation with its 60,000 er that the old tachographs are unbecoming

produced domestically. Turkish made digital tachographs ready next year graphs as per the agreement signed be-

Stating that the old model tachographs are very susceptible to tampering and that

he digital tachograph device, pro-

said, “When we look at the world to see how many countries digital tachographs

year. According to AETR, digital tachoin international transportation.

world, will be produced in Turkey

Technology Nihat Ergun stated at an ear-

were to be produced in Turkey, the Ministry would provided the necessary support. Produced with the highest technology In addition to complying with EU standards, the Turkish made tachographs will

Euros would stay in the country. ASELSAN Board President Necmettin Trust Board President Sabri Demirezen -

wide. In this regard we will be achieving

in digital tachographs we produce, begin-

audio warning module, tracking driver bewell as allowing authorities to remotely print out reports. The remote access and -

percent over the same period last year. bly (TIM) shows that Turkey’s exports

country through savings. This will also Device Project”. In his speech at the signature ceremony,

transportation with the agreement they are signing. Stating that Turkey is no longer in a position in which technology is imported but one which exports technology to other countries, Hisarciklioglu said that reaching the point where we stand today is logical accumulation has been achieved in Stating that the advanced technology, has been triggering developments which

The Turkish made tachograph device will export digital tachographs to neighboring countries.” “We will achieve this as a team” Necmettin Baykul pointed out the imporProject, “Realizing this project in the short rency. We will achieve this as a team together with TurkTrust and International Transporters Association.” munication, Talat Aydin reminded that it has been made mandatory to be carrying a digital tachograph on vehicles conducting international transportation and that

directed towards the Middle Eastern and

pared to the previous year.

AETR, mainly EU countries on a sale and UND Logistics Investment INC. Digital tachograph The tachograph is a device which records is considered crucial especially in checkpoints set up by police. It is also mandatory dential by companies in the EU in addition to road checkpoints. The EU has been using the digital tachograph system since 2006. This has reduced tampering with tachograph devices which have been instru-

economic crisis. Guner said that last year accomplishing

same period last year. In addition to the export increase, also the crucial developments have been seen in In recent years selling jewelries across the -

Germany, the USA, Russia, Britain, Russia, France have constituted the countries

porters’ Association, said that they had

Guner also highlighted Turkey was the rope, adding that jewelry production had been a historical and cultural accumulation that goes back to 6000 years ago in Anatolia. Turkey’s jewelry design which includes or eastern and neighboring countries,” Guner recorded. He pointed out that Turkey has a very great richness, diversity and model choices in jewelry. Guner noted that Turkish jewelry sector has been trying to sustain its competitive pricing structure in exports.

Made in Turkey Economic Newspaper, August 2012

Continued From Page 16

he national signaliza-

railways will be made domestically. Turkish Railways (TCDD), TUBITAK-BILGEM and Istanbul Technical University have developed national railway signalization system. In saved by making signalization

mestic railway industry, TCDD nalization system application in 2009.

ernment debt to GDP ratio in the euro area

TUBITAK-BILGEM and Istanbul Technical University (ITU), Turkish engineers have developed national railway signalization project. Costing ari. kilometers railway is equipped with the domestic made signalization system, worth 2 billion TL could be saved. Meanwhile, these systems would be exported to the Middle Eastern countries and the Turkic Republics and then to the entire world.

ties other than shares ac-

adding, “I believe that Gaziantep will continue on its way with the same enthusiasm and pace towards

Transport, Maritime and Comannouncement,

said,

“Since -

in order to build contemporary, modern Turkey. So we have begun to build up highways, maritime lines, airways and in-

years.” He said their targets not only building highways, they have sectors, even let all the sector strengthen. “We do not ignore the acquisitions gained since past to date.

constricted the markets, our industrialists made new

good and well, but our basic target enable Turkey to reach a

in 2009. So we have developed the project and put into application and we will spread

we attribute importance to the

said. In addition, we have achieved the industry to make high speed railways, traverses, connection

business areas. We have developed ‘National Railway Signalization Project’ determined

tergovernmental lending (IGL) is also published. ernment debt to GDP at -

general government debt. the EU27, amounting to ing to Eurostat, the stapean Union. In the EU27 the ratio in-

the government debt to GDP ratio rose in both the

EU27 government debt. Currency and deposits

in Estonia (6.6%), Bulembourg (20.9%).

one Member States registered an increase in their debt to GDP ratio at the

respectively. Government debt at the The highest increases in the ratio were recorded in age points - pp), Portugal

government debt. Due to the involvement nancial assistance to certain Member States, and in order to obtain a more

Liras.

the budget expenditure which will be covering the overseas students’ university expenses and education -

Turks and Relative Communities -

in other words, the sector achieved ers’ Union said. He noted that Turkey’s machinery sector accomplished the capacity utilization over last year. “Machinery sector has been gradually continuing to stand atop in ex-

coming to Turkey to continue their studies. He marked that overseas students mainly demand studying medical and engineering studies.

a decrease. The highest increases in the ratio were recorded in Portu-

departments. As quality, it is surging upward,” Dalgakiran said.

such as China, Europe and Far East. -

would be carried out well and promoted in the world, Turkey would get gakiran highlighted serious demands

kiran noted.

Continued From Page 1

USD exchange rate expected

Gross domestic product expectation

TurkStat stated that CPI decreased

The third largest industry on the list is the chemicals, petroleum products and plastics industry with The industry recorded

investment in Turkey may

raca said, adding that Turkey can achieve to be a developed country ropean Union, like Switzerland. “Europe is naturally a very important player and I support Turkey’s EU membership bid, but it is not our only solution. Turkey can be able to become a country like Switzerland in its location. Similar to Switzerland’s role in Europe, Turkey can be tied to Europe and have much more active relations with the surrounding Middle Eastern and Turkic countries and Russia,” Karaca said, noting that lion last year. Turkey has not yet attained the

investment according to UNCTAS data, Turkey should attract about vestments in order to realize its

Karaca said. Despite the economic crisis in investment into exports would be continuing to come to Turkey, Ka-

slightly more than one percent,

CPI increased 9.07 percent and PPI

Stat. percent in CPI, and 9.88 percent in PPI.

crisis more. In Europe, we can be able to compete in the white good sector in a serious way,” he recorded. Karaca noted that the incentive my. Along with the incentive law

has made the investors’ wish increase, Karaca said. About reduc-

year, he said.

Consumer prices index (CPI) and producer prices index (PPI) dropped

industry, which regiscent exports increase,

year.

Karaca said. Turkey’s share in last year’s globrates, exchange rate, current account balance and GNP growth rate. Meanwhile, TurkStat, the Turkey’s Statistical Institute posted that CPI -

percent in exports last year.

accomplished. The Turkish economy has at-

their needs. “As Turkey is growing and developing, then these students -

ports. Turkish machinery sector has begun to assume an innovative role.

previous year.

Turkey’s International Investors

covering students’ health insurances,

dents’ assessments will be depend-

urkey’s machinery exports in-

three Member States registered an increase in their debt to GDP ra-

It should be noted that

ing on their high school diploma -

pressed that their budget expenditure

the change in debt ratio between two successive enced in some cases by seasonal patterns.

(+8.2 pp), and the largest decreases in Greece6 (-20.0 pp) and Hungary

debt, quarterly data on in-

ing the list appreciated us extremely. “The success

goods.

pp), and the largest de-

to 88.2%) and the EU27

ways to convert the crisis into opportunity, stating that Turkey’s exthe crisis in a great deal. “When we look at the export sec-

those countries continue to record current account surpluses, Karaca said.

Made in Turkey Economic Newspaper, August 2012

Turkish Customs

Continued From Page 16 ur aim is to make Turkey trade is transacted in the easiest way”

industrialist,

merchants,

“In order to reduce waittransactions at the customs transactions

via

taking

enterprises,

tradesmen,

customs transactions are made in the easiest way,”

our aim is to make Turkey a country where the

He also reminded the new Turkish Commercial Code which would make Turkey the easiest country in tions as well as most con-

Caglayan will also move to LuxTurkish businessmen. Caglayan will be in Austria with an accompanying seek new markets. li, “these business enterprises would

Continued From Page 1 n the report highlighted that as Turkey’s sectorial diversi-

export markets, also country’s plying in general export sectors. The report also marked that despite Turkey’s exports decreased in the EU and the USA markets due to the global economic crisis in 2008-2009, thanks to

the new markets and has reached the striking levels in 2008. Although appearing relatively tured the emerging markets in

exports increases in the export markets, meanwhile country diin overall exports. regional and sectorial composikey’s economy has decreased

products. According to the sectorial analysis based on the main product groups which Turkey exports, as all product groups lower in the exports to the EU countries, as ern countries showed increase tendency in all product groups, except iron-steel. When change in the total and sectorial exports’ traditional market share is evaluated along with

Asian markets, Turkey’s export potential would continue in the upcoming years too.

markets, it clues outstandingly about Turkey’s export potential. In this context, it is observed that

certain products and countries allowed export revenues increase against regional and sec-

sectorial export markets towards relatively quick growing economies. According to Gini-Hirs-

n order to promote Turkey’s export goods, Turkish businessmen

markets in European countries. Turkish businessmen and accompanying delegations is preparing to travel several European countries at presidential and ministerial level to search

percent, and merchandise exportaness trips. President Abdullah Gul’s and Prime Minister Recep Tayyip Erdogan’s trips are very important at this point. Not only they are selling goods there, they are also making

economy due to summer season. Turkish President Abdullah Gul will -

men who do business there.

would complicate sustainability line with this, export product

creased in all regions except the EU countries when compared to

country groups plays a key role global outlook against outside shocks. According to the analysis, even tries decreased expilicitly due to the global crisis, but this region’s historical importance has

ly importance that has begun to

urkish Statistical Institute (TurkStat) stated that Turkey’s tourism income was

exports increased quickly. Meanwhile, according to the porters’ Assembly (TIM), shows

that period.

and North America’s decreased in a clear way in Turkey total

creased, according to the report

outside Turkey. Visitors carry out their travel inthe tourism income including individual and package tour expen-

consideration, it indicates that Turkey’s export potential would advance strongly in the next periods. It is also seen that change in the targeted country composition is not limited with the certain

zen’s residing outside Turkey avcreased 0.2% compared to the

decreased 7.9 percent to the EU, percent, in the Middle Eastern cent.

Tourism expenditure covering citizens expenses residing in Turkey and visited abroad decreased

year. Tourism income is examined -

tory in South Korea by the

diture.

tour was visiting the Turkish Martyrs in Korea at war museum by -

Sanko Machinery which is the moving-machinery took a group

Turkey.

residing outside. Tourism expenditure decreased

Laid a wreath on the Martyrs monument the visitors had an opabout Korean War by touring the departments in the war museum. Shopping in Seoul the visitors re-

citizens visited abroad, citizen’s

“We have launched an initiative to enter directly the Chinese luxury leather market,” Mehmet Ali Dinc, Chairman tion (TDKD).

the world leather clothing market, but -

themselves. He noted that they had perceived clothclass as an opportunity, adding that even they had been late taking place in the market with their own brands. Dinc recorded that they had been negotiating to take place in the new leather trade centers in the most visible way close time. Indicating that the negativeness in the world economy which had been experienced, that would be experienced this year as well, he commented, “In particular, these risks in the developed countries bring sluggish together in the tries where our country also take place. While the leather clothing sector has nesses in the markets abroad, shrinks have been experienced in the exports to the EU countries over the last year.” Dinc also highlighted the works to-

be continued as nonstop. “Foreign exchange rate should navigate in a moderate level without giving chance to unjust competition, and interest rates should also stay in a way not to encourage hot money entrance are the necessary issues,” he noted. Dinc also recorded that they, as the stagnation in Russia, highlighting that Russian market was the biggest and Dinc reminded that they had been maintaining their works on the imporPromotion Group in the Russian market to promote Turkish leather sector. “The sector has compensated its losses happened in the European market via other markets and thanks to this, we than last year. When we look at the

products’ export share in the overall -

cluded.

travel. Meanwhile, it was said that special customers in Sanko Machinmachinery would continue to visit South Korea in the upcoming months.

In the committee who went to

ed Faruk Kose, Sale Director, in addition Sanko Machinery’s special customers throughout Turkey. parts warehouse in Incheon in South Korea, the committee toured historical and cultural gion which separate South Korea ognize the Korean culinary at Ko-

Korean culture closely by watchwell.

Exporters Union (IHIB), said. nomic crisis Turkish carpet sector, which porter countries, would keep up with its raising in exports. “Although the European market gets constriction, increase in the Middle

percent. He indicated exports to Libya, Egypt and Morocco have come to the

The sector has turned its direction towards design, branding and high value added production. The unregistered export carpet sales, which are purchased by tourists coming Turkey, increased the

with enlivenment in the construction sector, the carpet exports have been seeing a great increase in that region. While carpet exports increased to the USA, in Europe it decreased due to the economic crisis.

Made in Turkey Economic Newspaper, August 2012

Turkey

eveloped by the United States, France, Germany, Italy, Spain and the United Kingdom, the model allows the implementa-

ance Act (FATCA) through automatic exchange between governments, reduces

to work with interested countries on

the Foreign Account Tax Compli-

said: “I warmly welcome the co-operative and multilateral approach on which the model agreement is based. We at the

ments and business around the world.”

ing compliance costs as low as possible.

ernmental Agreement on Improving Tax Compliance and Implementing FATCA” -

in nobody’s interest. We are happy to ing closely with interested countries and stakeholders to design global solutions to -

cooperation with the Business and Indus-

quickly advance to design common sys-

over the same term preceding year, and hit 767 million tones. Turkey ranks eighth in the world with its iron-

tion only a decade ago. According to the World Steel Association, the percent, over the same term last year, and was accomplished as 767 million tones.

tones.

sustaining the world economic growth, eradicating poverty and generating job opportunities. In this regard, the next MC9

nization.” She added that members would -

energize the negotiation process and the

countries such as Ukraine and Brazil in iron-steel production.

It usually meets every two years. The was held last December in Geneva.

the multilateral trading system. the exotic ambiance, the warm weather

decision, said: “In the situation where crisis is still hampering the global economy, Indonesia continues to believe that the -

will rejuvenate and renew the constructive

highest-level decision-making body in Geneva, meeting regularly to carry

iron and steel sector. Turkey’s share in global

representatives (usually ambassadors ernments and has the authority to act

ciation, the global iron and steel production in-

which only meets about every two years.

million tons.

ing South Korea across the world,

engineers, masters and apprentices. -

key. interest has increased in LPG regarding price

take into consideration the employment in the plants which produce autogas materials,

ing its close competitors Ukraine and Brazil this year, arranging at 8th across the world.

Made in Turkey Economic Newspaper, August 2012

urkish statistical institute, TurkStat,

Accordingly, the country’s imports dropped period. According to the provisional data, produced -

railway or tramway rolling-stock, parts billion. Calendar adjusted exports increased by

billion), “boilers, machinery and mechani“electrical machinery and equipment”

calendar adjusted exports increased by

At the same period, the top categories

compared with previous month.

The EU’s share in exports decreased to billion).

economic and strategic.

ery area

Turkey, at the same time we been maintaining its movement to-

toms, said. Canakkale province.

geographic aspect. ing to Europe there our most trade is key where three continents intersect,”

“In this process, we have always said ‘advanced democracy’. By enacting laws which assure more rights and -

billion.” Stating that they, as the government and ministry, has aimed is to remove

He reminded Turkey has now ranked

without time loss, without bringing additional burden to their costs in a short

6th big in the EU countries. We have provided this along with the entrepreneurs, enterprises, tradesmen, industri-

are opening customs directorate here.” Turkey maintains its movement in ev-

Page 14

seri, Kocaeli, Konya, Mersin, Mugla, Samsun, Tokat,

Page 13