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Made in Turkey Aralık 2017

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Monthly Economic Newspaper

Aegean

Exporters hit

the bull’s eye

Historic record of Aegean Exporters

December 2017

The Aegean Exporters’ Association

(EIB) increased its exportation volume in

November by 29 percent in comparison

to November 2016 and marked a total of

1 billion 182 million 852 thousand dollars.

The exportation figure in November is the

highest monthly exportation number in

the history of Aegean Exporters’ Association.

The previous record of EIB was in

November 2013 with exportation worth 1

billion 135 million 223 thousand dollars.

Turkey’s exportation increased by 14

percent in November and reached up to

13 billion 629 million whereas the Aegean

ww.img.com.tr

Exporters’ Association achieved a 29-percent

increase in exportation and doubled

the average increase rate in Turkey.

One of the other greatest successes

achieved by the Aegean Exporters’ Association

in November is the fact that

all of the 12-exporter associations under

the umbrella of EIB have increased their

exportation volumes in comparison to

November 2016. The exportation volume,

recorded by the Aegean Exporters’

Association in January – November 2017,

improved by 8 percent and increased from

9 billion 978 million dollars to 10 billion

Turkish President Recep Tayyip

Erdoğan: Turkey urges for trade

in local currencies within D-8

761 million dollars in comparison to the same

period of previous year. Exportation of the Aegean

Exporters in the last year improved by 7 percent

and increased from 10 billion 890 million dollars

to 11 billion 683 million dollars. In November, EIB

improved its exportation of industrial products by

38 percent and this exportation increased from 451

million dollars to 622 million dollars whereas the

exportation of agricultural products rose by 22 percent

and increased from 400 million dollars to 488

million dollars. Exportation in mining sector rose

by 11 percent and increased from 63 million dollars

to 71 million dollars. P3

Turkish health tourism

prospers to total

$20B revenue by 2023

The Summit envisages

possible cooperation in the

fields of transportation, trade,

investment, energy, industry, small

and medium-sized enterprises,

agriculture, food security,

tourism, science, education and

establishment of data banks.

World Bank to revise

up Turkey’s GNP

growth forecast

P3

Turkey urges for trade within

the Developing-Eight (D8)

group of countries in local

currencies, President Recep

Tayyip Erdoğan pointed out at the

D-8 Summit in Istanbul.

“If we can utitilize from our national

currencies in trade between

our countries, we will make a revolution

in the history of the D-8. We

dont have to dissolve our economies

under the pressure of exchange

rates,” Erdoğan said, stressing the

significance of boosting economic

steps within the organization.

Initiatives call

for Turkey’s full

membership

P5

The D-8 was founded in 1997 as a

primarily economic alliance between

eight mostly Muslim-majority countries.

Along with Turkey, the other

members are Bangladesh, Egypt,

Indonesia, Iran, Malaysia, Nigeria

and Pakistan.

Turkey has hosted the summit this

year, after taking over term leadership

of the D-8 from Pakistan.

The event, marking 20 years of the

eight-country alliance was held under

the theme “Expanding Opportunities

through Cooperation.” P4

Leatherworld

Paris comes on the

agenda!

P7

A tourism report released by the Turkish Hoteliers

Federation (TÜROFED) noted that Turkey is among the

leading countries in organ transplants, while the country’s

national policies boost health tourism. The report also

states that around two million medical tourists and $20

billion revenue are expected by 2023. The report indicates

that Turkey ranks third among countries having the highest

number of health care organizations accredited by the

Joint Commission International (JCI). The country is also

the first choice of medical tourists coming from a number

of countries, including Germany, England and Russia. P6

Turkish machinery manufacturing

industry came together in

4 different fairs. 44,665

professional visitors came

from 60 countries

The Bursa Industrial Summit revived

the economy

was held to gather all the stake-

The Bursa Industrial Summit, which

holders of metal and sheet metal

processing technologies, molding

sub-industry and automation industries under

the same roof, brought together 44,665

industry representatives from 60 countries

under the same roof by attracting great

attention this year.

December 04, 2017 Monday – The Bursa

Industrial Summit which brings together

all parties of the Turkish industry and

which is the biggest fair in the region, was

organized simultaneously in Tüyap Bursa

International Fair and Congress Center

between November 30 – December 3, 2017.

Enabling 410 companies and company representatives

from 25 countries to meet in a

40 thousand m2 indoor area composed of 7

different halls, the fairs attracted attention

as the endpoint where the latest technology

meets the visitors by gathering the industries

that guide the development of the

overall industry under the same roof. P2


EconomicNewspaper

December

2 Please mention

2017

Made in Turkey” when writing to advertisers Monthly Economic Newspaper ww.img.com.tr

Mehmet Soztutan

Editor-in-Chief

Actually, the world has

become a global village and

business knows no international

boundaries. However,

the rule of the game is

dynamic competitiveness. The

concept of competition has

been undergoing a permanent

change.

As known, the Turkish

exporters are not isolated

from these realities. They are

fully conscious of the fact

that they have to cope with

the dynamically changing conditions;

and they strive to do

so in order to survive in the

world markets.

Despite the global imbalances

and the regional

turmoil, the Turkish economy

sustains its strong position

on the path of sustainable

growth. As for Turkey’s exporters,

they wish to relentlessly

invest, manufacture and

export.

Carrying out sizeable

technology investments in

various industries, The Turkish

companies managed to diversify

their export markets.

Realizing a fascinating growth

in the past decade, the business

people are now gearing

up themselves to produce

Letter From

The Editor

Comparative

advantages prevails…

the market trends by investing

in brand development.

From the stand point of

exporters, competition is a

complex series of moves and

countermoves on a global

landscape like a chess play.

The Turkish exporters are no

exception. They are particularly

involved in identifying,

evaluating and selecting

target markets by trying to

answer global questions.

In evaluating the future

export potential of the

region using cross-country

statistics, it is possible to

indicate that Turkey has comparative

advantage regarding

labor productivity, labor cost

and the share of capital in the

value added, especially with

respect to the mature producers

in the world. Majority

of the manufacturers compete

in international markets

and set high standards of

export figures.

Our publications aims at

conveying the messages of

the business people operating

in Turkey. We wish them

and their counterparts success

and lucrative trade.

The Bursa Industrial Summit

revived the economy

Turkish machinery manufacturing industry came together in 4 different fairs.

44,665 professional visitors came from 60 countries

The Bursa Industrial Summit, which was

held to gather all the stakeholders of metal

and sheet metal processing technologies,

molding sub-industry and automation industries

under the same roof, brought together

44,665 industry representatives from 60 countries

under the same roof by attracting great

attention this year.

December 04, 2017 Monday – The Bursa

Industrial Summit which brings together all

parties of the Turkish industry and which is

the biggest fair in the region, was organized

simultaneously in Tüyap Bursa International

Fair and Congress Center between November

30 – December 3, 2017. Enabling 410 companies

and company representatives from 25

countries to meet in a 40 thousand m2 indoor

area composed of 7 different halls, the fairs

attracted attention as the endpoint where the

latest technology meets the visitors by gathering

the industries that guide the development

of the overall industry under the same roof.

Hosting wonderfully innovative products

developed by using the latest technology,

The Bursa Industrial Summit, which was

organized simultaneously by Bursa Metal

Processing Technologies Fair, Bursa Sheet

Metal Processing Technologies Fair, Mould

Eurasia Fair and Automation Fair, displayed

wide range of products from metal - sheet

metal processing technologies to molding

sub-industry and to machine automation. The

summit which brings together the Turkish

machinery manufacturing industry, hosted

a total of 44,665 visitors coming from more

than 40 industrial cities domestically and 60

different countries from abroad. UR-GE

projects attracted great attention In the fairs

which also attracted a lot of professional

visitors from abroad, the participants had the

opportunity to introduce their products to

the visitors for 4 days. In the summit which

hosted more than 1200 business people from

60 countries and 6 different continents within

the scope of UR-GE projects related to the

machinery, aerospace defense and composite

railing systems industry, local companies and

foreign business world representatives within

the scope of ‘Commercial Safari’ Project

carried out more than 700 business meetings

as part of the B2B program.

Letters to the Editor

turkey@ihlas.net.tr

The EU accession

The EU accession process

has been a significant anchor

for reforms in Turkey, but progress

has slowed in recent

years due to some political

setbacks initiated by Germany.

The EU is Turkey’s largest

economic partner, accounting

for around 40 percent of Turkish

trade. Turkey has benefited

significantly from deepening integration

with the EU through

the growing sophistication of

both exports and imports and

access to financing. Turkey became

a candidate for full EU

membership at the Helsinki

summit in 1999. Accession negotiations

began in October

2005, but progress has slowed

in recent years in the face of

a number of political obstacles

(including relations with Cyprus).

M.Kris/ Frankfurt

Is IMF right?

I think IMF is right to say

that macroeconomic policies

should internalize the challenges

in developing countries

posed by the difficult global

economic environment. Specifically,

(i) fiscal policy should

aim to achieve the announced

targets to help rein in financing

needs and keep the debtto-GDP

ratio on a downward

path; (ii) stronger fiscal performance

would be facilitated by

continued structural fiscal reforms,

including by adopting a

more rules-based fiscal framework,

implementing stricter

control of local government

finances, and strengthening tax

administration; (iii) monetary

policy should continue to aim

to bring inflation down to target

B.Burns/ Basel

The contagion

As known, the specter of

contagion from the western

financial crisis had reached Far

East, when credit rating agencies

warned that seven banks

were heavily reliant on shortterm

foreign funding which, if

recalled, could have produced

havoc on the local financial system.

Russia’s rapid growth had

spawned hundreds of banks,

many of which have drawn

funding from the international

money markets. Several have

been forced to seek government

bail-outs. India, Brazil

and China were not the brittle

economies they once were

and were not expected to be

among the least affected as the

world economy slows.

D.Rinn/ Milano

The other side of

the coin

“It will be very tempting to

have a bit more inflation during

this period to mitigate the

problems,” says Ken Rogoff,

a Harvard professor and former

chief economist at the

International Monetary Fund.

Mr Meyer disagrees. “It comes

down to the independence of

the central bank,” he says. “This

is the most hawkish Fed I have

known.” However, the other

side of the coin was different.

The large influx of money to

U.S. banks and financial institutions,

along with low interest

rates, made it easier for

Americans to get credit. These

developments allowed more

families to borrow money for

cars, and homes, and college

tuition, some for the first time.

They allowed more entrepreneurs

to get loans to start new

businesses and produce jobs.

Nestlee/ Paris

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December

EconomicNewspaper

2017 Please mention

ww.img.com.tr

Made in Turkey” when writing to advertisers

Monthly Economic Newspaper

3

Aegean Exporters hit the bull’s eye

EIB broke the record of its 78-year history on monthly basis with

exportation worth 1 billion 182 million dollars in November

Olive oil sector is a regular

record-breaker, Iron exportation

hit the top

The Aegean Olive and Olive Oil

Exporters’ Association (EZZIB) increased

its exportation by 100 percent in

November and brought foreign exchange

worth 25 million 877 thousand dollars

into Turkey. EZZIB is the record holder

in exportation and the Aegean Iron and

Non-Ferrous Metals Exporters’ Association

(EDDMIB) improved its exportation

operations by 80 percent and

this association holds the title of the top

exporting association with exportation

worth 144 million 325 thousand dollars.

As for annual numbers, EDDMIB exceeded

1-billion dollar mark after a very

long period of time and marked exportation

worth 1 billion 7 million dollars. In

November, exportation champion of the

Aegean Exporters’ Association, which

is the Aegean Ready-made Garment

and Apparel Exporters’ Association

(EHKIB), exported products worth 108

million 60 thousand dollars. EHKIB

increased its exportation by 18 percent

in November and came in second but

it preserved its leader position with an

annual amount of 1 billion 267 million

dollars.

Dried fruit exportation volume

reached up to 106 million dollars

The Aegean Dried Fruit and Products

Exporters’ Association (EKMIB)

entered a busy period following the start

of dried fruit exportation season and

increased its exportation operations by

14 percent in November and brought

into our country an exportation volume

of 106 million 632 thousand dollars.

The Aegean Aquaculture and Animal

Products Exporters’ Association (ES-

UHMIB) writes a new success story in

exportation every month and it added

a new chain to these success stories in

November. The aquaculture and animal

products exporters increased the

exportation volume by 21 percent and

reached 92 million 906 thousand dollars

and thus brought foreign currency equal

to 926 million dollars into Turkey in the

last one year.

URGE (International Competitiveness

Improvement) Project

brought results in the fresh fruit

and vegetable sector

In 2017, the Aegean Fresh Fruit

and Vegetable Exporters’ Association

launched URGE Project in fresh cherry

and fresh grape sectors for exportation

of value added products and it continues

to increase its exportation thanks to

focusing on Air Cargo after the URGE

Project. In November, the Aegean Fresh

Fruit and Vegetable Exporters marked a

17-percent increase rate in exportation

and exported products worth 91 million

278 thousand dollars. The Aegean

Tobacco Exporters’ Association has been

significantly improving its exportation

operations in the last months and its

exportation reached up to 89 million

919 thousand dollars. In November,

the tobacco sector increased its exportation

by 46 percent in comparison to

November 2016. The Aegean Mining

Exporters’ Association members agreed

on a new roadmap for 2023 exportation

goals during the “Mining Workshop”

organized on the dates of 24th and 25th

November 2017 with participation of

Energy and Natural Resources Minister

Berat Albayrak, and this association’s

exportation totaled 71 million 36 thousand

dollars in November. The Aegean

Furniture, Paper and Forestry Products

Exporters’ Association achieved exportation

increase rate of 5 percent and

added 51 million 795 thousand dollars to

exportation segment in November. The

Aegean Grain, Legume, Oily

Seeds and Products Exporters’

Association increased

its exportation by 13 percent

and reached up to 27 million

722 thousand dollars.

Exportation of leather

and leather products

increased by 42 percent

The Aegean Textile and Raw Materials

Exporters’ Association, which deals

as one of the most labor intensive sectors,

improved its exportation by 19 percent

and recorded exportation worth 21

million 986 thousand dollars whereas the

Aegean Leather and Leather Products

Exporters’ Association marked a record

breaking exportation increase rate with

42 percent and its exportation reached

up to 11 million 769 thousand dollars.

Ünlütürk; “Our exporters’ gave

us a New Year present 1 month

earlier”

The Aegean Exporters’ Associations

Coordinator President Sabri Ünlütürk

stated that he is very pleased to share

with the public the November exportation

figures of Aegean Exporters’

Associations and that EIB considers

the success in exportation figures as the

New Year present given by the Aegean

exporters 1 month earlier. “Thanks to

the exportation figures in November, we

are enjoying three joys at the same time”

said Mr. Ünlütürk and added “Our exportation

growth rate doubled the average

rate in Turkey. All of the 12 exporters’

associations under the umbrella of

EIB increased their exportation figures.

We marked the highest exportation figure

of our history on monthly basis. We

have peace of mind because we are going

to achieve our year-end exportation

target of 11.5 – 12 billion dollars. I would

like to take this opportunity to congratulate

and thank all our

exporters who

have contributed

to this success”.

Exporters of

Izmir marked

an exportation

growth rate of 32

percent

In November, the Aegean

Region recorded exportation worth 1

billion 836 million dollars. The Aegean

Region recorded exportation worth 1

billion 461 million dollars in November

2016. In November, the exportation volume

of the Aegean Region increased by

26 percent. Izmir’s exportation was 661

million dollars in November 2016 and it

marked a record breaking increase of 32

percent in November 2017 by increasing

its exportation up to 871 million dollars.

Izmir is followed by Manisa with

exportation worth 428 million dollars

and Denizli follows it as the third top

city with exportation worth 300 million

dollars.

In November, Aydın brought foreign

currency worth 69 million dollars into

Turkey and Balıkesir exported products

worth 50 million dollars. Muğla, as the

exportation hub of aquaculture, exported

products worth 43 million dollars.

Afyon, Kütahya and Uşak respectively

achieved

the following

exportation

performances;

29 million

dollars, 24

million dollars

and 20 million

dollars.

Exportation

from EİB to the

USA increased by

88 percent

In November 2017, the Aegean

Exporters’ Associations exported to

177 countries and the most remarkable

exportation growth was in the United

States of America. In October, the

Aegean Exporters attracted attention by

increasing their exportation to the USA

by 49 percent and they raised the level

even higher in November by increasing

exportations to the USA by 88 percent.

In November, exportation from EIB to

the USA reached up to 95 million 769

thousand dollars In November 2016,

USA was the top fifth country on the

exportation list but it was the top second

country in November 2017 and followed

Germany. Germany preserved its position

as the top country with exportation

worth 129 million 595 thousand dollars

and Italy was the top third country with

exportation worth 83 million 690 thousand

dollars.

World Bank to revise up Turkey’s

GNP growth forecast

WASHINGTON –Gross National Product

growth rate of Turkey will be revised from 3.5

percent to around 5-5.1 percent as the country

is estimated to maintain its strong growth

performance in the third quarter, the World

Bank’s Country Director for Turkey pointed

out.

“When the third quarter data released, we

will revise it and we are quite likely to revise

up to roughly the same amount with the IMF,

about 5-5.1 percent, given the very strong

growth performance that we had already seen

in the second quarter which we expect to continue

in the third quarter,” Johannes Zutt said.

Zutt said Turkey had recovered successfully

after last year’s defeated coup attempt with the

help of enacted fiscal stimuli by the Government.

“Obviously after that coup, growth declined

in the third quarter but the government, which

had been managing the economy quite well,

had space for a fiscal stimulus and it used that

space,” Zutt said.

Zutt added that a rise in Europe’s economic

growth rate also reinforced this fiscal

stimulus. “That is what gave us a much more

robust recovery then I think many people have

anticipated and certainly we at the World Bank

anticipated,” Zutt said.

He noted that they expect the Turkish economy

to grow around 3.5 to 4 percent in 2018 as

they believe the economy could sustain growth

at a slightly lower rate than present.

He also said the Turkish government needed

to undertake structural reforms necessary

to carry the economy to a higher path of

sustainable growth.

“There are a number of things that the government

needs to do to make labor markets

more efficient, to deepen the capital markets,

to improve public expenditure management,

to get more of the education system and to

ensure Turkish workers are able to participate

in a modern economy at very high levels,” Zutt

said.

He underlined that improving productivity

of Turkish firms was the biggest challenge for

the country in the medium term.

“What we should be seeing is more high

technology embedded in Turkish exports going

Johannes Zutt

World Bank Country Director for Turkey

to Europe,” Zutt said.

Commenting on Turkey’s inflation rate,

Zutt said that the tight monetary policy enacted

by the country’s central bank was appropriate

as a response to the inflation rate.

“We now have seen a jump to slightly over

10 percent but we anticipate that it will fall,

actually, back to 7-8 percent going forward,”

Zutt said.

According to the Turkish Statistical Institute,

Turkey’s consumer prices went up by

11.20 percent year-on-year in September.

Zutt said that Turkey’s reliance on capital

inflows in order to finance current account

deficit was the country’s greatest vulnerability

adding that its savings were not enough for its

investments.

Zutt added that Many Turkish companies

rolled over their debts worth of $170 billion

annually.

Corporations in Turkey had been successful

in rolling over their debt easily thanks to their

fairly strong balance sheets and strong relationships

with their bankers both in Turkey and

abroad, Zutt said.


EconomicNewspaper

4 Please mention

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Monthly Economic Newspaper

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December

2017

Turkish President

Recep Tayyip

Erdoğan: Turkey

urges for trade in

local currencies

within D-8

The Summit envisages possible

cooperation in the fields of

transportation, trade, investment,

energy, industry, small and mediumsized

enterprises, agriculture, food

security, tourism, science, education

and establishment of data banks.

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ISTANBUL-Turkey urges

for trade within the Developing-Eight

(D8) group of

countries in local currencies,

President Recep Tayyip Erdoğan

pointed out at the D-8

Summit in Istanbul.

“If we can utitilize from our

national currencies in trade

between our countries, we

will make a revolution in the

history of the D-8. We dont

have to dissolve our economies

under the pressure of exchange

rates,” Erdoğan said, stressing

the significance of boosting

economic steps within the

organization.

The D-8 was founded in

1997 as a primarily economic

alliance between eight mostly

Muslim-majority countries.

Along with Turkey, the other

members are Bangladesh,

Egypt, Indonesia, Iran, Malaysia,

Nigeria and Pakistan.

Turkey has hosted the

summit this year, after taking

over term leadership of

the D-8 from Pakistan. The

event, marking 20 years of the

eight-country alliance was held

under the theme “Expanding

Opportunities through Cooperation.”

Among the participants are

the Nigerian President Muhammadu

Buhari, Azerbaijani

President Ilham Aliyev, Pakistani

Prime Minister Shahid

Khaqan Abbasi, Iranian First

Vice President Eshaq Jahangiri

and Indonesian Vice President

Jusuf Kalla.

Erdoğan also urged member

states to bring together their

central banks to establish a

clearing house. “We all have

to embrace the D-8 and make

efforts to increase its efficiency,

productivity and strength,”

he said.

“We have the potential for

wide-ranging cooperation in

many fields, from good agricultural

practices to clean energy,

transportation to environment

and education,” he said, while

adding that new members

could be added to the organization.

“In a world where

everything changes, it is never

acceptable for the D-8 to

remain unchanged,” Erdoğan

said.

At present, the organization

has a combined GDP of $3.7

trillion and includes more than

one billion people - around 15

percent of the world’s population.

Two of its members

- Turkey and Indonesia - are

among the group of the world’s

20 biggest economies.

The Islamic Development

Bank announced that it signed

a memorandum of understanding

with the D-8 organization

to enhance development efforts

as well as joint expertise,

knowledge and resources for

the socio-economic development

of the eight developing

countries.

The “Islamic Development

Bank Group will work with the

Developing-8 Organization

for Economic Cooperation to

initiate sustained economic

growth in the member states

of the D-8,” the bank said in a

written statement.

Signed during the D-8 Summit

in Istanbul, the agreement

foresees possible cooperation

in the identification and implementation

of joint programs

and projects in the fields of

transportation, trade, investment,

energy, industry, small

and medium-sized enterprises,

agriculture, food security, tourism,

science, education and

establishment of data banks.

It also underlines the need

for the exchange of knowledge

and information on commercial

issues. The Islamic Development

Bank will also consider

the allocation of scholarships

for students from D-8 states.


December

2017

Monthly Economic Newspaper

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EconomicNewspaper

Please mention

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5

International investors urge EU leaders to

take initiative for Turkey’s full membership

Antalya visited by

almost 10 million

tourists

The number of tourists who visited

Turkey’s top holiday resort province Antalya

surpassed last year’s tally of 6.5 million tourists,

totaling almost 10 million as of mid-October.The

number of foreign tourists coming

to the city via Antalya Airport reached 9.6

million on Oct. 13, marking an increase of

63 percent for the Jan. 1 to Oct. 13 period,

compared to the same period last year.

Nearly 544,000 tourists landed at Antalya

Airport, which welcomes an average

of 41,769 foreign tourists per day, between

Oct. 1 and Oct. 13. Last year in the same

period, 413,000 tourists arrived and a total of

791,000 tourists came to the city in October.

Out of the 8.5 million incoming tourists as

of the end of September, 3 million of them

were Russians. With the addition of 13-day

October data, the total number of Russians

coming to the city via the Antalya Airport

stands at 3.5 million this year.

An international investors group

urged leaders in the EU to take decisive

steps towards bringing Turkey

closer to the bloc. “Companies with

international direct investments support

Turkey’s full membership to the

bloc,” Ahmet Erdem, president of the

International Investors Association of

Turkey (YASED), said in a statement.

“We hope that the full membership

negotiation process, which has

come to a halt in recent period due

to various developments, will be accelerated

again,” he added. The call

came on the day of an EU leaders’

meeting that will focus on migration,

defense, digitalization and foreign

affairs, including EU relations with

Turkey. The EU is Turkey’s fourth

largest export market and Turkey is

the fifth largest trading partner of the

EU, Erdem said. He underlined that

in the first eight months of this year,

$3.72 billion, which is 77 percent of

the total foreign direct investment in

Turkey, was invested in the country

from EU countries.

Turkey’s total exports in the first

nine months of 2017 reached $114.66

billion while 51.6 percent of all

exports were made to EU countries

with an increase of 10.2 percent

year-on-year, he added. He said:

“Europe-based companies also generate

added-value in Turkey, provide

employment, and export to all over

the world from Turkey.”

“We believe that the

continuation of Turkey’s

accession negotiations to

the EU will be beneficial

for both sides,” he said.

“In this regard, we also

find it necessary that the

Customs Union Agreement

should be updated

in line with the requirements

of today,” he

added. Turkey applied

for membership in the

European Economic

Community (a precursor

to the EU) in 1987. It

became eligible for EU

membership in 1997 and

accession talks began in

2005.

To gain membership,

Turkey has to successfully

conclude negotiations

with the EU in

35 policy chapters that

involve reforms and the

adoption of European

standards. In the accession

negotiations, 16 of 35 chapters

have opened and only one has been

temporarily closed, Erdem said. Last

June, the 33rd chapter opened and in

November of the same year, initiatives

to open other chapters with the

EU Commission were taken, he said.

He added that consensus to speed up

the process was also reached at the

Turkey-EU Summit in March 2016.

“However, at the EU General Affairs

Council meeting in December 2016,

it was decided not to open a new

chapter,” he added. YASED, which

has over 200 members, was established

in 1982.

Turkish

aviation

industry

grows 15

percent

every

year

Turkey’s aviation

industry shows

much higher growth

performance than its

global competitors,

Turkish carrier Onur

Air’s Chief Executive

said.

Teoman Tosun said

that Turkey’s aviation

sector is growing

at 15 percent

every year, compared

to 5 percent

internationally.

“We have become

the top player in the

sector globally,” he

said, adding that

next year the sector

will grow by 12

percent.

He said this growth

had become possible

because of the initiatives

the government

had taken since

2002.

Tosun added that

Turkish companies,

including Onur Air,

were training international

pilots. He

said air transport in

Turkey was divided

between the national

flag carrier Turkish

Airlines and private

carriers.

He added that while

Turkish Airlines flies

to the most destinations

in the world,

the private sector

is a major building

block in promoting

tourism in Turkey.

İbrahim Küpeli

ibnahim.kupeli@img.com.tr

Is it

remedy?

Will it be a lasting remedy to set

up a “state of the world” for traumatic

humanitarian problems?

Regarding geostrategic fissures

have happened on multiple fronts

with wide-ranging political, economic

and social consequences across the

world.

Humanitarian conscience expects

to seek urgent solutions in order

to remove the vital humanitarian

troubles from the agenda of the

world at the 48th World Economic

Forum Annual Meeting. Probably, for

this reason it has been determined

to discuss “the state of the world”

concept this year’s meeting.

In this scope, the 48th World

Economic Forum Annual Meeting

call for leaders from all walks of life

to improve “the state of the world”

concept. But, can it be a remedy to

eradicate huge humanitarian problems

with which billions of world

people face?

In some regions of the world in

Syria, Yemen, Afghanistan, etc. have

been facing vital problems, such as

terror, strife, migration, global warming,

climate change, hunger, water

scarcity, lack of sanitation, joblessness,

depletion of natural resources.

All of these humanitarian problems

wait solution from the international

community and other

foremost international organizations

which have been established to eliminate

these disputes.

Every day we watch and read

these heavy humanitarian problems

through international and local media.

However, in the current context

of the world, we cannot see enough

advancement on behalf of innocent

people, because of lasting, sustainable

decisions cannot be made by the

related international bodies.

These problems have opened uncompensated,

irremediable afflictions

in humanitarian conscience.

When we observe the societal

developments, we see that these

unendurable troubles have increasingly

expanded following collapsing

of Communist Block, while world

communities expected to get rid of

plight of communism, unfortunately

faced another ones…

Following the Second World War

the United Nations was established

to build peace and serenity across

the world. However, some of the

world communities could not find

the waited peace and serenity…

Some of the regions in the world

have been facing terror, hunger,

conflict for a longtime. Either the

United Nations or other international

organizations have remained

helpless, unable to bring permanent

solution. Especially terror and strife

have grown exponentially.

So, incapable state of the UN reminds

us that it cannot be sufficient

to bring solution for the humanitarian

problems.

Because of it stems from its

current structure needs should be

recovered.

We wish the 48th World Economic

Forum Annual Meeting will discuss

the heavy human being problems

seriously together so as to bring

lasting and sustainable solutions.


EconomicNewspaper

6 Please mention

Made in Turkey” when writing to advertisers

Monthly Economic Newspaper

ww.img.com.tr

December

2017

Turkish health tourism prospers

to total $20B revenue by 2023

A tourism report released by the Turkish

Hoteliers Federation (TÜROFED)

noted that Turkey is among the leading

countries in organ transplants, while the

country’s national policies boost health

tourism. The report also states that

around two million medical tourists and

$20 billion revenue are expected by 2023.

The report indicates that Turkey ranks

third among countries having the highest

number of health care organizations

accredited by the Joint Commission International

(JCI). The country is also the

first choice of medical tourists coming

from a number of countries, including

Germany, England and Russia.

While Turkey’s national policies support

medical tourism, Turkish Airlines

(THY) offers considerable discounts to

medical tourists. Being among leading

countries in face and other kinds of organ

transplants, Turkey is expected to host

two million tourists and secure around

$20 billion in revenue from health tourism

by 2023.

Turkey ranks as an appealing health

tourism spot thanks to the significant

places in Istanbul and Antalya provinces

in world health tourism and the presence

of international pharmaceutical companies

in the country. It also has reliable

systems requiring advanced technologies

such as robotic surgery. Moreover, Turkey

is one step ahead of other countries

in the sector with the additional benefits

the Health Ministry’s Health Tourism

Department offers such as the provision

of price-quality relation in the most efficient

way and it serves patients in several

languages, including English, German

and Russian.

Besides, Turkey ranks first among

European countries having the richest

sources of thermal springs, which will certainly

contribute to the growth of medical

tourism in the country with an added plus

that the health care services are cost-effectively

provided

Tarhana signifies

Turkey, as spaghetti

signifies Italy

As known, spaghetti signifies

people of Italy, the delicious

tarhana could represent

Turkey, an 80-year-old man,

who has devoted his entire life

to promote the unique Turkish

food product said.

Tarhana is made from a

dried crushed mixture of fermented

yogurt and wheat flour

that is usually served as a soup.

Mustafa Yeldanli said he

has been in the business of

making tarhana for the last

43 years in western Usak

province. Yeldanli, who is

also known locally as Tarhana

Baba, said he started his

business in 1974 from a small

atelier. He now makes tarhana

with his two sons, producing 25

tons of it per year.

There are several versions

of tarhana in Turkey, with

different parts of the country

having their own unique

taste. Usak tarhana is made of

red and green peppers, mint,

tomatoes, onion, flour and

yogurt. Tarhana Baba’s version

even has cranberry, mushrooms

and a gluten-free kind is

also available. After mixing all

these ingredients, the product

is kept for 21 days for fermentation.

Following the fermentation

process, it has to be sun

dried and crushed before it can

be prepared for cooking.

Tarhana is especially popular

for breakfast during winter

and is known for its nutritional

value. “Tarhana is the most important

nutritional source for

health as it contains protein,

calcium, vitamin A, B1, B2,”

Yeldanli said. He says Usak

tarhana has its special flavour

based on its soil and regional

climate.

Yeldanli said he will promote

tarhana as long as he

lives and hopes that the world

gets a taste of this distinct

flavour of Turkey. “As spaghetti

reminds people of Italy,

tarhana should remind people

of Turkey.”

EU

wants to

cooperate

with

Turkey on

regional

problems

The EU’s foreign policy

chief said that the

bloc would increase

cooperation with

Turkey on problems

related to regional

dynamics.

Federica Mogherini

said they will eleborate

on how the

EU and Turkey can

coordinate better”on

Syria and Iraq.

Mogherini said she

spoke with Turkish

Foreign Minister

Mevlüt Çavuşoğlu

early on Oct. 16 to

touch on “many

strategic topics” such

as counter-terrorism

and the Cyprus issue.

The meeting of the

foreign ministers,

known as the Foreign

Affairs Council, will

also have discussions

over the Iran nuclear

deal and North

Korea’s missile tests,

Mogherini added.

Monthly Economic Newspaper

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The meeting is seen

as a preliminary one

for the European

Council meeting of

Oct. 19-20.


December

2017

Monthly Economic Newspaper

ww.img.com.tr

EconomicNewspaper

Please mention

Made in Turkey” when writing to advertisers

7

Humor

A psychotic thinks that two and two are five.

A neurotic knows two and two are four -but

he hates it.

When 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 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 acquit-

THE ECONOMIST

ted 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.

THOUGHT OF THE

MONTH

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.

• when you look in a mirror,

you see a lawyer.

What is the real problem?

Well!!! If you do not conquer self,

you will be conquered by

self.

Leatherworld Paris comes on the agenda!

The show will be collocated with

Texworld Paris which takes place twice

a year at the Le Bourget fairground

and attract thousands of professional

visitors from all over the world, but

Leatherworld Paris will he held annually,

concurrently with the September edition

of Texworld Paris.

Turkey’s hybrid car sales

increases in third quarter of 2017

Turkey’s total electric and hybrid

car sales recorded an increase of

805.6 percent to 2,763 in the first

nine months of 2017, compared

to 300 in the first nine months of

2016, according to Turkey’s Electric

and Hybrid Vehicles Association.

The association’s statistics revealed

that the sales of just hybrid

cars, which combine a normal

petrol or diesel engine with an

electric motor, increased nine-fold

to 2,717 in the first nine months of

2017 compared to the same period

of 2016.

In the first nine months of last

year, only 38 electric cars were

purchased, while 46 electric

cars were sold during the

same period of 2017.

In Turkey’s automotive

market, the bestselling hybrid car

was the Toyota C-HR Hybrid with

2,184 sales in the first nine months.

Toyota C-HR Hybrid is followed

by the Toyota RAV4 Hybrid with

Leatherworld Paris in a nutshell:

- Leatherworld Paris, new concept,

only once a year (September).

- First edition : 17-20 September 2018.

- Leatherworld Paris will include finished

leather goods, leather accessories,

and skins

- The show will have: conferences,

catwalks, media, workshops and trend

forums.

The leather buyers, designers, retailers

and boutiques will visit the show. The

show aims to provide the ideal platform

for suppliers and producers to grow their

businesses. Every sector of the leather

industry will be on display, from tanneries

and production to finished leather

goods, including the latest in high-end

exotic fashion, accessories and footwear.

130 sales, Toyota Yaris Hybrid had

117 sales and 106 sales were made

for the Toyota Auris Hybrid. Toyota

has started the production of its

new C-HR crossover model, the

first hybrid model in the country, in

their Sakarya plant in the industrial

region of northwest Turkey

in late 2016. According to Toyota,

the company’s plant

in Tur-

key

already ex-

ports

around 80

percent of

its production

to

Europe

and is planning to

gradually expand its export

destinations outside Europe to

include the U.S., Canada, Taiwan,

Mauritius and South Africa. Total

production capacity has increased

from 150,000 to 280,000 vehicles

per year. The founder of Turkey

Electric and Hybrid Vehicles, Berkan

Bayram, said 45,000 electric

cars were sold worldwide in 2011,

and sales reached 2 million last

year. He envisages that this exponential

increase will continue.

“Four out of 10 cars will be electric

in 2025, so Turkey should increase

investments in automotive and battery

technologies,

specifically

lithium-ion-based

batteries,” Bayram

said.


EconomicNewspaper

December

8 Please mention

2017

Made in Turkey” when writing to advertisers Monthly Economic Newspaper ww.img.com.tr

Turkish Airlines offers Istanbul

Bosphorus Experience

Turkish Airlines (THY) launched

a new program called Istanbul

Bosphorus Experience that is

specially designed for the national

carrier’s business-class passengers.

In a written statement, the airline

pointed out the program provides

Bosphorus cruise tours to business-class

passengers, who have

a transfer time of seven or more

hours in Istanbul before they

continue their trip to their target

destinations.

“Passengers can now discover

and enjoy the cultural facets

of Istanbul first-hand,” Ahmet

Olmustur, THY chief marketing

officer, said.

“Within the framework of this

service, passengers will be welcomed

by a guide and receive a

Prime Class welcoming when they

arrive at the Istanbul Ataturk

Airport,” the carrier stated.

THY said a guide will take the

passengers to the marinas of

Eminonu or Karakoy, two prominent

symbols of Istanbul; guests

will also get an opportunity to

tour around the Bosphorus on a

private cruise.

During the cruise program, the

participants will be provided beverage,

snacks and Wi-Fi connection,

the statement said.

“After the tour, an array of the

most famous samples from the

legendary Ottoman cuisine [either

breakfast, lunch or dinner]

will be offered to the passengers,

at the historical Ciragan Palace

Kempinski Hotel,” the carrier

said.

THY was ranked Best Airline in

Southern Europe, Best Business

Class Onboard Catering, World’s

Best Business Class Lounge,

and Best Business Class Dining

Lounge within the Skytrax World

Airline Awards 2017.

Olmustur said THY will continue

to improve its wide range of

activities and services, including

its world renowned “Turkish

Airlines Lounge Istanbul”.

The issue of “consulate

approval” between Turkey

and Iran, has been settled

The issue of “consulate

approval”, which

negatively affected

trade between Turkey

and Iran, has been settled

by Turkish Economy

Minister Nihat

Zeybekci and his ministry

officials. Last year,

Iran decided to ask for

approval from Iranian

consulates for imports

from Turkey. This decision

led to waste of time

due to the bureaucratic

procedures in the consulate

and complaints

over document fees.

In response to Iran’s move, the

Ministry of Economy started practicing

a “consulate approval requirement”

in September. It was reported that the

contact following the instructions given

by Zeybekci to the bureaucrats yielded

positive results and Iran lifted the

consulate approval requirement. The

requirement had been applied to Turkish

exporters since last year and had negatively

affected bilateral trade.

Iran informed Turkey about the

removal of the consulate approval requirement

through diplomatic channels.

Obstacles facing exports and exporters

in this market have been removed, which

resolve some of the most important

problems in Turkey’s

trade with Iran. The

Turkish Ministry of

Economy, which

closely followed Iran’s

sanctions and practices,

and put a similar

implementation into

effect in September,

is expected to remove

consulate approval

after the decision. The

Turkey-Iran preferential

trade agreement, signed

on January 29, 2014,

went into force on January

1, 2015. Under the

agreement, Turkey provided customs tax

discounts or exemptions on 140 Iranian

agricultural products, while Iran applied

customs tax reduction to 125 Turkish

industrial products.

In terms of covered products, imports

from Iran increased by 41.9% to

$31.9 million last year, while exports to

Iran rose by 39.1% to $1 billion when

compared to the previous year. In the

first eight months of the year, Turkey’s

imports of agreement-related products

surged by 66% to reach $37.8 million,

while exports rose by 2% to hit $625.5

million compared with the same period

of the previous year.

Ozturk Oran elected

as the new chairman

of ICOC

Following the death of the Istanbul Chamber

of Commerce (ICOC) President Ibrahim

Caglar, elections were held for the new president

in the chamber. Until the elections to

be held in April, Chairman Öztürk Oran will

chair the chamber. According to the TOBB

Act, it was necessary to elect a new president

at the first board meeting for the position of

ICOC Chairman İbrahim Çağlar, who had

suffered a heart attack recently and lost his

life. The new chairman will assume the task

as the 23rd chairman until the election date of

ICOC. Oran noted that they would complete

the continuing projects and they would carry

the flag which they were handed down from

the former chairman Ibrahim Caglar.

Turkey to

launch a series

of subsidies to

cruise ships

to increase

tourism

ANKARA-Turkey will launch

a series of subsidies to

A-group tourism operators of

cruise ships bringing foreign

tourists into the country in a

bid to bolster visitor numbers

which have fallen sharply due

to a series of bomb attacks of

2016. An amount of $30 will

be provided per tourist for

cruise ships with the capacity

of 750 passengers or more

until Dec. 31, according to a

Cabinet Decision released on

the Official Gazette on Sept.

26. Tour operators need to

present documents which

show they carry tourists via

cruise ships to the Culture

and Tourism Ministry, according

to the decision. Turkey’s

cruise tourism was negatively

affected due to escalating security

concerns in 2016. Many

leading cruise companies

announced that they would

leave Turkey out of their 2017

travel plans.

While more than 1.8 million

cruise tourists visited or transited

through Turkish ports by

1,456 ships in 2015, the number

of passengers declined to

628,000, who were carried by

590 ships, in 2016, according

to data from the General Directorate

of Maritime Trade.

Some 213,216 tourists visited

Turkish ports in 2017 by 224

cruise ships. While the total

number of travelers has hit

1.6 billion across the world,

only 24 million of them travel

by cruise ship, but the development

rate in the cruising

sector in the last five years

was four times higher than

any other sector, according to

sector reports.

TECHNICAL SPECIFICATIONS

Model No

Input Power max

Vacumm

Rated Voltage

Air Flow

Water Suction Capacity

Pump Power

Pump Pressure

Extra Basin Volume

Waste Basin Volume

Container Dust Capacity

Dust Bag Capacity

IP Code

Gross Weight

Size

TECHNICAL SPECIFICATIONS

Model No

Input Power max

Vacumm

Rated Voltage

Air Flow

Water Suction Capacity

Pump Power

Pump Pressure

Extra Basin Volume

Waste Basin Volume

Container Dust Capacity

Dust Bag Capacity

IP Code

Gross Weight

Size

: 114H

: 1300 W

: 1950 mmH2O

: 220-230 V AC, 50/60 Hz

: 200 m 3 /h

: 1,5 L/S

: 26 W

: 2,5 bar

: 7 L

: 8,5 L

: 5 L

: 5 L

: IPX4

: 13,5 kg

: 410x510x593 mm

: 114R

: 1300 W

: 1950 mmH2O

: 220-230 V AC, 50/60 Hz

: 200 m 3 /h

: 1,5 L/S

: 26 W

: 2,5 bar

: 3,5 L

: 6 L

: 5 L

: 5 L

: IPX4

: 11,5 kg

: 385x485x485 mm

Tourist arrivals in Turkey jump

43.1 percent in June

The number of tourists visiting

Turkey increased by 14.5

percent on year-on-year basis

in the first half of 2017, Ministry

of Culture and Tourism

said . According to the ministry,

12.3 million people visited

Turkey in the first six months

of the year. Nearly 3.5 million

tourists arrived in June alone, a

record 43.1 percent increase in

comparison to the same month

last year, the ministry said. The

largest number of foreign visitors

came from Russia in the

January-June 2017 period with

a total of 1.7 million Russian

tourists spent their holidays in

Turkey. Germany came just below

Russia in the list of foreign

visitors coming to Turkey with

1.2 million tourists. Meanwhile,

arrivals from Georgia,

a country with a population of

nearly 4 million, accounted for

more than 1 million tourists. In

June, the number of Russian

tourists rose by 21.9 percent

reaching 763,727 people. The

three most preferred destinations

for foreign visitors in the

first half of the year were Istanbul,

Turkey’s tourism capital

Antalya, and western Edirne.

Istanbul hosted 4.39 million

tourists in the first six months

of 2017, while 3.27 million

visited Antalya.

TECHNICAL SPECIFICATIONS

Model No

Input Power max

Vacumm

Rated Voltage

Air Flow

Dust Bag Capacity

IP Code

Gross Weight

Size

: 114L

: 1300 W

: 1950 mmH2O

: 220-230 V AC, 50/60 Hz

: 200 m 3 /h

: 5 L

: IPX4

: 8,5 kg

: 390x418x440 mm

BOSB, Mermerciler Sanayi Sitesi 7.Cd. No:12, 34524 Beylikduzu, Istanbul/TURKEY

Phone: (0212) 875 35 62 pbx - Fax: (0212) 875 36 64 www.iea.com.tr

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