Made In Türkiye October 2024

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Economic Newspaper 2 Please mention “Made in Türkiye” when writing to advertisers October 2024 Mehmet Soztutan Editor-in-Chief Letter From The Editor THOUGHT OF THE MONTH “Quality is remembered long after the price is forgotten.” Publisher: ISTMAG Magazin Gazetecilik İç ve Dış Ticaret Ltd. Şti. Adına Sahibi H. Ferruh Işık Around the globe, around the clock… As known, the Turkish exporting industries have shown remarkable performance with its steady growth over the last decade. Located at the intersection of Europe, Asia, Russia and Africa, Turkey’s geographical location and high-tech infrastructure investments offer significant advantages in terms of the global manufacturing market. Despite the geopolitical risks faced, our country continues to be the production base of Europe and the world. With infrastructure investments and the strength of its geographical location, Turkey continues to be the leading production base in the world. As for Turkey’s exporters, they wish to relentlessly invest, manufacture and export. They are particularly involved in identifying, evaluating and selecting target markets by trying to answer global questions. It is also aimed to transport export products and service exports to the farthest points of the world and to increase the awareness of the Turkish brands. According to the strategy, support will be increased by intensifying promotional activities, especially advertising activities in the written and visual media for these countries. In the consumption channels of the countries, shopping malls and chain stores will be specifically targeted. It should be noted that exports and export-drive policies in particular are regarded as a growth stimulator by the Turkish government officials. As a matter of fact, opening up a country’s market to the international markets allows a country more efficient production and allocation of resources as the country can concentrate on the production of goods in which it has a comparative advantage based on its factor endowments. Actually, being around the world for decades, we have a crucial part to play under this strategy through our diverse range of export- oriented publications. We convey the messages of the Turkish exporting industries by participating in a series of international fairs and exhibitions. Our publications remain at the service of those business people seeking to increase their share in the increasingly competitive global markets. We wish them and their trading partners a fruitful business. PARADOX The paradox of our time in history is that we have taller buildings, but shorter tempers; wider freeways, but narrower viewpoints; we spend more, but have less; we buy more, but enjoy it less. We have bigger houses and smaller families; more conveniences, but less time; we have more degrees, but less sense; more knowledge, but less judgment; more experts, but fewer solutions; more medicine, but less wellness. We have multiplied our possessions, but reduced our values. We talk too much, love too seldom, and hate too often. We’ve learned how to make a living, but not a life; we’ve added years to life, not life to years. We’ve been all the way to the moon and back, but have trouble crossing the street to meet the new neighbor. We’ve conquered outer space, but not inner space; we’ve cleaned up the air, but polluted the soul; we’ve split the atom, but not our prejudice. We have higher incomes, but lower morals; we’ve become long on quantity, but short on quality. These are the times of tall men, and short character; steep profits, and shallow relationships. These are the times of world peace, but domestic warfare; more leisure, but less fun; more kinds of food, but less nutrition. These are days of two incomes, but more divorce; of fancier houses, but broken homes. It is a time when there is much in the show window and nothing in the stockroom Responsible Editor: Mehmet Söztutan (mehmet.soztutan@img.com.tr) Editors: Assoc. Prof. Mehmet Ali Özbudun Ayça Sarıoğlu Dilara CİCA Correspondent: İsmail Çakır (ismail.cakir@img.com.tr) Marketing Manager: Recep Arslantaş (recep.arslantas@img.com.tr) Arts Director: Tayfun Aydın (tayfun.aydin@img.com.tr) Subscription: Ismail Özçelik (ismail.ozcelik@img.com.tr) HEAD OFFICE: İstanbul Magazine Group İHLAS MEDIA CENTER Merkez Mah. 29 Ekim Cad. No:11 Medya Blok Kat:1 34197 WHAT IS A PROBLEM? PLEASE MENTION Yenibosna / İstanbul / Turkey Tel: +90. 212 454 22 22 Fax: +90. 212 454 22 93 www.img.com.tr - img@img.com.tr 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: 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 WHEN CONTACTING ADVERTISERS THE ECONOMIST WELL!!! IF THE ONLY TOOL YOU HAVE IS A HAMMER , YOU TEND TO SEE EVERY PROBLEM AS A NAIL.
3 Economic Newspaper October Please mention “Made in Turkey” when writing to advertisers 2024 European Members Adopt New Carbon Removal Certification The new European Union Carbon Certification System, developed to assess the effectiveness, transparency, and sustainability of carbon reduction projects and various technologies removing carbon from the atmosphere, was approved by the European Parliament in April 2024. This certification scheme aims to bolster the EU's efforts to meet its carbon emission reduction targets. It includes a comprehensive audit and certification process that covers all participants and stakeholders from the start to the end of carbon reduction projects. The system covers renewable energy projects, carbon reduction technologies, and various methods of carbon removal, including storage and recycling. It also supports natural-based solutions such as conservation and restoration of natural resources. The social and environmental impacts of projects are also assessed to ensure compliance with sustainability standards. This certification system is seen as a step towards effectively implementing EU climate policies, achieving the goals of the Paris Agreement, and taking a leadership role in combating global climate change. Government urges businesses to follow medium-term program Finance Minister Mehmet Şimşek has announced that inflation in Türkiye is projected to drop below 20 percent next year and to single digits the following year, urging the business community to consider the Medium-Term Program in their financial calculations. «The disinflation process has begun in a permanent way. On the one hand, inflation will fall sharply in 2025 with the lagged effect of monetary policy. On the other hand, fiscal policy, revenue policy, will become more supportive,” Şimşek said at an event organized in New York by the Anatolian Lions Businessmen Association’s (ASKON) U.S. branch. “I would like to address businesspeople in particular: If you make your calculations accordingly, from your inventories to your pricing policy, you will not be on the wrong side,” Şimşek added. “Inflation is coming down. So it would be in your interest to take our targets into account. This year we have put a band around inflation and we have met many of our targets, even in a difficult year with an election and geopolitical turmoil at its peak. We Energy policies yielding results in boosting local production Türkiye’s National Energy and Mining Policy is yielding results in reducing the country’s dependency on imported energy and boosting local production, Energy Minister Alparslan Bayraktar has said. Speaking at a gathering in the province of Osmaniye, the minister recalled the policy document was unveiled in 2016 and said: “We started to reap its fruits.” “In 2020, the gas that we searched for and found in the Black Sea with our own ships and engineers has started to be delivered to our homes. We meet the natural gas needs of 2.6 million households from the natural gas we produce in the Black Sea alone,” he said. The minister reminded that a floating production facility will arrive in the Sakarya Gas Field in the Black Sea at the end of this month, which will boost the output there to 20 million cubic meters. The floating facility will produce natural gas for 20 years, he said, adding that production from the field will meet the natural gas needs of 10 million households. “We need to increase production and make other discoveries in the Black Sea,” Bayraktar said. Türkiye is a major importer not only of natural gas but also of oil, and is dependent on foreign oil, he stressed. The oil find in the Gabar region was the biggest discovery ever in the country, the minister said, noting that the production from Gabar is currently 47,000 barrels/day. “We aim to increase the production there to 100,000 barrels within the next year, and Türkiye will produce 200,000 barrels by 2025. For that, we need more exploration,” Bayraktar said. expect the business community to use the Medium Term Program as a guide.” Şimşek said that Türkiye had a serious current account deficit a year ago and that with the measures taken, the current account deficit fell from around $57 billion to less than $20 billion. «The current account deficit is no longer a source of fragility and concern,» he said. Recalling that the shortage of reserves was also a source of concern last year, the minister said that solving this problem was one of the priority goals and that net reserves had improved by The volume of Türkiye’s e-exports is expected to increase to $8 billion at the end of 2024, according to Trade Minister Ömer Bolat. The country’s e-exports soared 131 percent last year to exceed $5 billion, said the minister, who delivered a speech at the Global E-Export Summit (IGEXX) in Istanbul on Sept. 4. The share of e-exports in Türkiye’s overall goods exports was 0.91 percent in 2022 and increased to 2.1 percent in 2023, Bolat noted. In the first eight months of 2024, e-exports surged by 94 percent compared to the same period of the previous year, reaching $4.16 billion and its share in total goods exports increased to 2.7 percent, according to the minister. “We aim for a total of $8 billion in e-exports by the end of 2024. Thus, the share of e-exports in total exports of about $95 billion. Şimşek explained that the improvement in reserves is a reflection of the strong confidence in the program. «There is a lot of interest in the program from both inside and outside. Therefore, Türkiye has removed the issue of reserves as a source of concern,» he said. E-exports expected to reach $8 billion this year goods will exceed 3 percent. Our goal is to increase the share of e-exports in total exports to 10 percent by 2028,” Bolat said. The global e-commerce volume grew by 75 percent since 2019 to climb an all-time high of $5.8 trillion by 2023 and it is expected to increase by 8 percent this year to reach $6.3 trillion, according to the minister. The share of e-commerce in Türkiye’s gross domestic product (e-GDP) rose by 33.3 percent in 2023 compared to 2022, capturing a share of 6.8 percent, Bolat noted. “Our e-GDP showed a real growth of 26 percent compound annual growth rate between 2019 and 2023,” he said. The share of e-commerce in overall local trade increased from 4.8 percent in 2019 to 21 percent last year, Bolat said, noting that this increase was partially due to the pandemic’s impact on how trade was conducted. PRIVATE LABEL COSMETIC PRODUCTS WE CREATE YOUR OWN HIGH QUALITY, RELIABLE BRAND WITH SPECIAL FORMULA FOR YOU. PRODUCT DEVELOPMENT LABORATORY SUPPORT GRAPHIC DESIGN YOUR OWN BRAND CUSTOMIZED PACKAGING QUALITY ASSURANCE COMPETITIVE PRICING ALİYE OKÇU KOZMETİK SANAYİ TİCARET LTD. ŞTİ. www.okcucosmetics.com / info@okcucosmetics.com
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Made In Türkiye October 2024

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