Made in Turkey August 2018

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EconomicNewspaper August 8 Please mention 2018 “Made in Turkey” when writing to advertisers Monthly Economic Newspaper ww.img.com.tr Turkey’s natural gas stock exchange to begin trading Turkey, which has emerged as a leader in the energy sector, has completed its work to establish a natural gas energy stock exchange that will start trading operations on Sept. 1. Aiming to become a natural gas trading hub with this step, Turkey will also play an active role in pricing. Having taken important steps of being an energy hub in the region with the Trans-Anatolian Natural Gas Pipeline (TANAP), which recently brought Azerbaijani gas to Turkey, and the oilgas explorer vessel Fatih, Turkey is now establishing a natural gas energy stock exchange. With the natural gas market actively commissioned, an important step will be taken towards the pricing of natural gas at accessible markets and Turkey’s goal of becoming a regional natural gas trading hub. The Energy Market Regulatory Authority (EMRA) has recently updated the Organized Natural Gas Wholesale Market Operation Procedures and Principles (PUE), which can be regarded as the rules of trade in the natural gas stock exchange, are an important step in the direction of Turkey’s goal in becoming a natural gas trade center in the region. The natural gas stock exchange, called the Natural Gas Continuous Trading Platform (STP), was launched virtually on April 1, 2018. During the virtual application, the system was heavily tested by natural gas supply license holders. In addition, under the supervision of EMRA, scenario studies were carried out with Petroleum Pipeline Corporation (BOTAŞ) and Turkey’s Energy Stock Exchange (EPİAŞ) and contracts were drafted. In accordance with the purpose of the virtual application, some problems encountered during these studies and other issues identified, necessitated the revision of some of PUE’s articles. BOTAŞ, EPİAŞ and market players’ views were taken, and the issue was taken to board in order for the stock market to operate in a healthy and smooth manner. With this last amendment, the rules of trade and the rights and obligations of the parties that will carry out transactions in this platform will be clarified in order to ensure that the stock exchange, which will commence formal operations on September 1, 2018, can operate smoothly. The platform, to be operated by EPİAŞ, will be used by natural gas suppliers and exporters who want to trade natural gas, as well as BOTAŞ to supply natural gas to balance the transmission system. The trading on the stock exchange will be 24 hours a day, 365 days a year, and also provide the foundation for the Daily Reference Price (DRP). Beware travelers: How to avoid cyberattacks on holiday Taking incredible holiday photos are no big deal thanks to smartphones but posting them on social media is a little bit trickier. If you happen to take too many pictures and want to post them all, this means that your internet quota is doomed to dry out soon. To prevent this, most of us use the Wi-Fi services provided by the hotels or restaurants we are in. But is it safe? Don’t forget that if you don’t take precautions, it is easy to be a target of cyberattacks. However, it is possible to dodge attacks from hackers with a few easy tricks. First, avoid downloading a travel app from an unauthorized source. Nowadays, people prefer to book their holidays and even flights via various travel apps on their Android or IOS devices but it is important to download these apps from a reliable source, preferably from their official pages. Second, try to avoid turning your Bluetooth on unless it is necessary. Also be sure to connect only to secure Wi-Fi connections. Usually, most unknown, open Wi-Fi sources work as baits to lure smartphones and laptop users to steal their information. Be sure to use a virtual private network (VPN) and do not click on the websites if you are not 100 percent sure of their authenticity. Moreover, turn off the location services on your phone or other devices if you do not want to be traced by malware. 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 Publisher: Responsible Editor: Editors: Advertising Sales Staff: Art sdirector: Chief Accountant: Subscription: HEAD OFFICE: LIAISON OFFICES BURSA: Ömer Faruk Görün Buttim A Blok Kat: 4 No: 4029 BURSA / TURKEY Tel : (90.224) 211 4450 - 51 Fax: (90.224) 211 4481 KONYA: Metin Demir H. Ulusahin Is Mrkz. C Blok No: 603-604-605 KONYA / TURKEY Tel : (90.332) 238 10 71 Fax: (90.332) 238 01 74 PRINTED BY: ISTMAG Magazin Gazetecilik İç ve Dış Ticaret Ltd. Şti. Adına sahibi H. Ferruh Işık Mehmet Söztutan (mehmet.soztutan@img.com.tr) Prof. Dr. İsmail Kaya Assoc. Prof. Mehmet Ali Özbudun Ayça Sarıoğlu Yüksel Ekinci Recep Arslantaş (recep.arslantas@img.com.tr) Tolga Çakmaklı (tolga.cakmakli@img.com.tr) Mustafa Aktas (mustafa.aktas@img.com.tr) Ismail Özçelik (ismail.ozcelik@img.com.tr) ww.img.com.tr Güneşli Evren Mah. Bahar Cad. Polat İş Merkezi B Blok No:3 34197 ISTANBUL/TURKEY Tel: +90. 212 604 51 00 Fax: +90. 212 604 51 35 www.img.com.tr - img@img.com.tr İhlas Gazetecilik A.Ş. Merkez Mah. 29 Ekim Cad. İhlas Plaza No: 11/41 PK: 34197 Yenibosna - Bahçelievler ISTANBUL / TURKEY Tel: (90 212) 454 30 00 Fax (90 212) 454 34 83 The meeting is seen as a preliminary one for the European Council meeting of Oct. 19-20.
August EconomicNewspaper 2018 Please mention ww.img.com.tr “Made in Turkey” when writing to advertisers Monthly Economic Newspaper 9 IKMIB continues its efforts for 2023 targets Istanbul Chemical and Chemical Products Exporters’ Association (IKMIB) strengthens its cooperation activities to help its member companies to obtain leadership positions at global markets. We spoke to Adil Pelister, Chairman of IKMIB about exports and developments in the sector. What kinds of innovations are expected in the sector on the matter of export after Adil Pelister took the chair of IKMIB? Since its establishment in 1991, Istanbul Chemical and Chemical Products Exporters’ Association (IKMIB) has been working to diversify export products and gain competitiveness in products in order to protect the professional ethics and solidarity of exporting Turkish companies in the chemical sector and to increase exports. As a new management team, we also organize a number of activities to protect the interests of our members who are affiliated with our Association, to establish strong connections in the international arena and to help our firms enter into new markets. Our goal is, by effectively solving the problems of our firms, to provide them for the support they need both on financial matters and investment and new market, to be a bridge between state and our firms, and, by contributing to production and branding activities, to support them reach the highest level in export. In this direction, firstly, due to the market potential, we are planning to make the chemical sector more effective in potential countries such as the United States of America, China and other Far East countries. We aim to have Turkish chemical sector, which is, in Turkey, on the third seat in exporting among the other sectors, rise to the second rank. As a matter of fact, our sector reached to the position of the second exporting sector in June 2018. Among the subjects give priority are the innovative projects such as decreasing the limit of green passport to 100 thousand dollars, establishment of a private visa office for our exporters, realizing exporter’s easy access to finance, put the national container line project into practice, and localization thrust. What is the effect of increase in exchange rate of dollar on export figures and chemical products in the first half of the year? Our chemical sector depends on imports in terms of raw material at the rate of 70 percent, whereas even plastic and rubber sectors are dependent upon imports in terms of rat material at over the rate of 90 percent. The most used currencies in the global trade are the Dollar and the Euro. From this point of view, we can say that the fluctuations in our country especially in the recent period in Dollar and Euro exchange rate have had a negative effect on the costs of our exporter firms trading in this foreign currency. Did these exchange rate increases cause a drop in production? Even if it did not happen, what measures did the producers take? Although the increases in exchange rates negatively affect the costs for our sector that provides the raw material from abroad in production, it is possible to prevent the exchange rate risk by realizing foreign trade operations in Turkish Lira instead of foreign currency units. Trading in local currencies has a positive effect on both sides. Today, Turkey does business with many countries such as Russia, India, China, South Korea, Indonesia, Mexico, Brazilin local currencies. When we look at export figures, we see that there is an increase in exports made with these countries. “Our goal is to make a big contribution to 2023 export targets of Turkey with Digital Export Platform” You had mentioned previously the project “Five Pieces of Gold”, at what phase is that project? We started to work on all our other promises, especially the green passport issue. We have initiated our initiatives fast at our TIM chairman and Administration. In order to increase our exports and reach our 2023 targets, we need to orientate our SMEs to exports more. Because many of our firms which are already on certain levels have already substantially completed their institutionalization, they know how to export and are be able to export to many countries in the world. Also most of our big firms are also eligible for obtaining green passport. However, the vast majority of our SME-sized companies still suffer from difficulties in exporting and finding new markets. Those who have started exporting cannot attend foreign trade fairs and similar business trips because they have passport and visa problems. Our goal is, by ensuring the owners of SMEs, which have reached 100 thousand dollar annual exporting volume in 3 years consecutively, or their one the manager who is authorized signatory to get the right of green passport, to eliminate their travel restrictions and to help them find new markets. Thanks to that, we believe that we can also ensure that they can export more. Besides, while we declare our “Digital Export Platform” promise, we have foreseen that our new govern- men- tal management system will not remain indifferent to the ver- satile digital transformation in the world. As a matter of fact, both the statements made by our Ministry of Industry and Technology to speed up the studies on this matter and the Digital Transformation Office established at the presidency of the republic have justified our vision. Our goal here is, by embracing digitalism, which started with Industry 4.0 and leaped into the area of finance with digital money, to catch up the digital transformation in the world and accelerate it and help our country’s exports reach 2023 targets. In this area, we will work more closely with our TIM management together with our government. “We expect a big participation in China International Import Expo 2018” There was a high level of participation in the Private Label fair in Amsterdam. What level of national participation do you expect in a big fair like the one in China? As for private-label products sector, we arranged Turkey National Participation Organization this year as 10th time to “PLMA’s World of Private Label” international trade fair, which is held every year. This year, 94 Turkish companies, 47 of which are as national participation and operating on cosmetics, personal car, cleaning, plastic household goods, packaging and food sectors, took part in this fair, which has been holding for over 30 years. We are delighted to have such a high level of participation. As İKMİB, we support our exporters with our national participation organizations in order to enable our firms to get new ideas and to make cooperation links. Overseas fairs offer very important opportunities in terms of introducing the products of our exporters, their brands and making new cooperation. We anticipate that participation in the “China International Import Expo 2018” fair, which will take place in Shanghai, China between 5-10 November 2018, will also be on high level in this respect. Our studies have been continuing to promote the fair, which so far 41 firms have applied to, to Turkish exporters and to increase participation. The fair in question is extremely important not only for our exporting firms, but also for the promotion of Turkey. The Chinese festival will be organized for the first time and we regard it as an important opportunity for our country. The investment possibilities and trade opportunities in Turkey will be introduced to the visitors on the booth with 136 m2, whereas Turkish culture will be promoted. Could you tell us at which level Turkey Exporters Assembly figures are, compared to the figures made according to provinces? According to Turkey Exporters Assembly (TIM) data, exports rose 11.8 percent in July and reached 14.11 billion dollars. In the dispersion of the said exports, Istanbul takes the first place with 6 billion dollars. The top ten cities are Istanbul, Bursa, Kocaeli, Izmir, Ankara, Gaziantep, Sakarya, Manisa, Denizli and Hatay. Where are we in the world on exports R&D studies? Today, the way of being able to exist in domestic and foreign trade, where competition is intense, is done by R & D. While R & D investments and studies, which are the biggest factor in the growth of the country’s economies, have come to the forefront in developed countries, in developing countries, although not at the desired level of industry, R & D investments in Turkey continues to grow each year. Researches show that R&D investments develop innovative and high-tech products and increase exports. R&D expenditures of developed countries are on average 2.5 to 3 per cent of the Gross Domestic Product (GDP), while the proportion of developing countries is less than 1 per cent. According to the latest explained data of Turkey Statistical Institute (TSI), Turkey’s gross domestic R & D expenditure has risen to 24 billion 641 million TL in 2016 with an increment of 19.5 percent by increasing 4 billion 26 million TL, compared to the previous year. The ratio of gross domestic R & D expenditure to GDP is 0.88 percent in 2015, and rose to 0.94 percent in 2016. As we can see from the figures, Adil Pelister, Chairman of IKMIB Turkey’s R&D allocation ratio remains under the world average. It is of utmost importance that government promotion should be given by our government through tax reductions and low-interest investment loans to R&D activities. It is necessary that our firms invest more in R&D researches by making use of these supports, and their work needs to be made widespread in our country. Could you mention about protectionism problems that our exporters face in the world market? The concept of protectionism, which was emerged from the politics of localization and balancing economics of the countries, has changed dimension in recent years due to political relations of the countries. Especially after the recent US-China crisis, we are facing the risk that this understanding of protectionism spread in waves by being accepted also by other countries. Exporters may encounter some embargoes against Turkish products. Protectionist policies of neighboring countries such as Iraq, Iran, Algeria, Egypt (import prohibitions, additional customs tax, etc.) affect our exports negatively. What would you like to say about being handled innovation and design by exporters, and investment in brand and R & D? The role of exports in Turkey’s growth and increase in the level of welfare is huge. Innovation, design and branding factors come to the forefront in terms of competing with the countries and increasing exports by entering into new markets. Companies that produce innovative and high-tech products are taking part at the forefront of the world market. It is possible for the market to be able to create new designs and produce productions with high value added only with research and developments activities. When we look at the countries with the greatest economies of the world, we see that these countries have reached their current positions as the result of R & D activities. Achieving sustainable exports and boosting the unit kilogram value of exports are significantly dependent on R & D and innovation power. In this regard, as IKMIB, we support our exporters with both design competitions that we organize and activities such as R & D Project Market. Giving importance and priority to R & D will take our firms a step forward. After Turkey’s PIC/S membership, what changes are expected in Turkey’s pharmaceutical market? The International Pharmaceutical Inspection Cooperation / Scheme (PIC / S), an association established by authorities that administer drug registries around the world, is known as the most respected and valid institution recognized on this field. Turkey’s PIC / S membership became effective from January 1, 2018. In this way, the technical barriers which prevent the drugs produced in Turkey from globalizing were also largely eliminated. The inspections made by Turkey Pharmaceuticals and Medical Devices Agency (TITCK) are accepted worldwide and also quality and safety of the drugs produced in Turkey are registered. We expect this to reflect favorably on prices and increase exports of pharmaceuticals. What are the effects of the economic and political developments taking place at the regional and global level on the sector? The economic and political developments that have taken place at the regional and global level directly and indirectly affect our sector. In particular, if that the chemical industry is dependent on abroad by 70 percent in terms of raw materials is taking into consideration, it is necessary for our firms to increase market diversity and invest in R & D and branding in order to be affected at a minimum level through these developments in the world. On the matter of raw material sources, especially in terms of plastic raw materials used in construction plastics and automotive industry, serious investment is needed for establishing petrochemical plants in our country. When the domestic and abroad problems faced in international trade and common problems of chemical sector are taken into account, with which solutions are these problem can be overcome or eliminated? In the chemical industry, which is dependent on abroad in the production of raw material, our sector will play an important role in financing deficit of Turkey with the supports of our State and increase in domestic production. Therefore, it is necessary to create a center of attraction in the field of petrochemicals, to establish new companies and to commence production. If the planned investments in petrochemicals start up, we anticipate that, our chemical exports will be over 20 billion dollars after 2019. However, our exporters may have difficulty in accessing financing, we are preparing an action plan, as the voice of our sector, to extend the deadlines for our exporters to reach direct financing. We are also working with relevant institutions and individuals on solutions to the problems of our sector, such as facilitating visa procedures and limiting the lower limit for green passports to 100 thousand dollars. Sectoral clustering is also important in terms of firms moving together, taking advantage of state support for common needs. In this regard, we support our firms, which operate in chemical sector, with sectoral committee meetings we organized, as IKMIB, and various R & D projects. What happens in the second half of 2018 on the next road map? (Fairs, new projects, etc....) First of all, until the end of 2018, among the fairs and delegations which we will arrange national participation organization both at home and abroad are; 10-14 October 2018 COSMEET Home, Cleaning and Care Sector and Cosmetics Sector Procurement Delegations- Istanbul / Turkey, 21-25 October 2018 Qatar Sectoral Trade Delegation- Doha / Qatar 5-10 November 2018 China International Import Expo- Shanghai / China, 12-15 November 2018 Medica 2018- Dusseldorf / Germany, 14-16 November 2018 Cosmoprof Asia 2018- Hong Kong / China, 25-28 November 2018 Athens Sectoral Trade Delegation 2018 - Athens / Greece is located. Along with these, we bring together our exporters at sectoral committees, which we have formed, and try to find solutions to their problems with common sense. As the chemical sector, we have set 2023 target as$ 50 billion. We can list the topics standing out in the road map that we have set for reaching the 2023 targets as follows: Updating of the Customs Union Agreement with the EU in favor of Turkey, guaranteeing the supply of raw materials with new formulas, investment in specific special chemicals, sectoral clustering and the creation of scale synergies in R & D. We will continue to follow our efforts without slowing down so that our chemistry sector will come to a better point.
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Made in Turkey August 2018

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