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Made In Türkiye January 2025

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SYRIA - The land of beautiful, good-natured, heroic and generous people

Türkiye and Syria, two brethren countries, are determined to rebuild a stronger and

a high potential country after cleansing the ruins of the Ba’ath Party.

January 2025

A first in Türkiye:

The Chemical

Technology

Centre

inaugurated

Türkiye ready to contribute

to Syria’s economic recovery

and reconstruction by

providing expertise and

Offering a new ecosystem to the chemical

industry, the Chemical Technology Center

guides the future with an innovative structure

from accredited laboratories to an incubation

center.

support

A strategic step for the Turkish chemical

industry

Istanbul Chemicals and Chemical Products

Exporters’ Association (IKMIB) put into

service the Chemical Technology Center that

will shape the future of the sector within the

framework of the Vision 2030 strategy. The

center, which brings together accredited laboratories,

an incubation center and R&D

activities, will now carry out critical tests and

analyses in Türkiye.Page 5

Professional

skincare

solutions for

winter are now

easier with

COSMED!

The protection and care your skin needs during

chilly winter days are now within reach

with COSMED’s powerful formulas. From

moisturizing cleansers to retinol routines,

everything you need for healthy skin is right

here!

The cold winter season leaves our skin more

sensitive and dry. However, with the right

products, it’s possible to overcome these

challenges. COSMED, with its world-class

products recommended by pharmacists and

dermatologists, takes your skincare routine to

the next level during winter months. Page 5

Pastel Cosmetics

expands to new

markets in

Europe and Asia!

Pinkar Kimya reaches new heights in global

growth journey in 2024!

Pastel Cosmetics has recently started exporting

to Chile, one of Latin America’s key

emerging markets, and Myanmar, Asia’s

rising star. With these strategic moves, the

company has increased the number of countries

it exports to 48, reaffirming its commitment

to global expansion.

A Year of Major Breakthroughs for Pinkar

Kimya

The year 2024 marked a significant milestone

in Pinkar Kimya’s international market strategy.

Page 9

Türkiye is determined to extend support in rebuilding Syria

following the fall of the regime of Assad, President Recep

Tayyip Erdoğan pointed out. Erdoğan said Ankara will offer

all-encompassing support to Syria’s new administration as

the country rebuilds.

The Turkish

Ready-Wear Fashion

Industry: A Global

Success Story

The Turkish ready-wear fashion industry is a remarkable

success story, built on a strong foundation of craftsmanship,

innovation, and export potential. As the sector continues

to grow and evolve, it will undoubtedly further strengthen

Türkiye’s position as a global fashion leader, offering highquality,

stylish, and sustainable garments to consumers

around the world.

The Turkish ready-wear fashion industry has established

itself as one of the most dynamic and influential sectors in

the global fashion market. With a rich history in textiles and

a unique blend of traditional craftsmanship and modern

design, Türkiye has become a major player in the production

and export of ready-wear apparel. Page 11

Exports to ‘distant countries’

to reach $50 billion

Türkiye aims to boost its exports to the economies under the

Distant Countries Strategy to $50 billion by 2028, Trade Minister

Ömer Bolat has said. Among the 18 targeted countries

under the strategy are the U.S., Canada, Mexico, China,

South Korea, Japan, Australia, India and Brazil. Page 10

Türkiye sets target to

boost domestic energy

share to 63% by 2028

His remarks followed the comments by energy and transportation

ministers, who announced action plans, including

a Syria visit by an Energy Ministry delegation and assisting

the country in restoring key infrastructure including airports

and railways.

Turkish startup

ecosystem

attracts $4.7B

in investments

in 4 years

Türkiye’s technology startup ecosystem

has shown significant growth recently

and has attracted $4.7 billion in investments

in the last four years, according

to vice president of Türkiye’s Investment

Office, Bekir Polat. Polat evaluated the technology

ecosystem in an interview with

Anadolu Agency (AA) during a major

startup conference held in the Finnish

capital Helsinki, Slush 2024. Page 10

OECD forecasts

Turkish GDP 3.5

percent

Türkiye’s economic growth will ease to

3.5 percent in 2024 and 2.6 percent in

2025 as necessary macroeconomic stabilization

policies will slow domestic

demand, the Organization for Economic

Cooperation and Development (OECD)

said in its Economic Outlook report published

on Dec. 4. Page 4

Türkiye aims for 1.5

pct share of global FDI

by 2028

Türkiye is looking at ways to help Syria

close its power gap and strengthen its

infrastructure, according to a top energy

official, who says Ankara may also

work with the war-torn nation’s new

leadership on oil and natural gas.

Energy and Natural Resources Minister

Bayraktar revealed that Türkiye is working

on solutions to meet Syria’s urgent

energy needs, starting with electricity

imports and transitioning to infrastructure

development.

After backing the Syrian opposition

forces who toppled longtime dictator

Bashar Assad after a 13-year civil war,

Foreign tourist arrivals in Türkiye increased

by 7.03 percent year-on-year in

January-October to 47.3 million, according

to data from the Culture and Tourism

Ministry on Nov. 22.

Including Turks residing abroad, 54.6

million visitors came to Türkiye in the

first 10 months of 2024.

In October alone, the country hosted

5.45 million international holidaymakers,

marking a 9.25 percent increase

from a year ago.

Russians constituted the largest group

of foreign visitors, followed by Germans

and Britons, according to the ministry

data.

From January to October, the number

of Russians vacationing in Türkiye rose

by 7.1 percent from the same period of

last year to 6.25 million, accounting for

13.2 percent of all foreign tourist arrivals.

Syria needs everything to start a new beginning, Transportation

and Infrastructure Minister Abdulkadir Uraloğlu said,

adding that Türkiye has prepared an action plan for repairing

and rebuilding the war-torn country’s airports, bridges, roads

and railways. Page 8

Türkiye looks to repower

Syria, collaborate on oil, gas

Türkiye has emerged as one of the main

power brokers in its southern neighbor

and has vowed to help rebuild the

country.

Türkiye was one of the first countries to

reopen its embassy in Damascus, while

its foreign minister and intelligence

chief both met with Syria’s de facto leader

Ahmed al-Sharaa there. Page 4

Over 47 million foreign tourists

visit Türkiye in 10 months

During this period, more than 6 million

German nationals visited the country,

up 6.4 percent year-on-year.

British tourists surged 17 percent annually

to 4.2 million, according to the

latest data. In the first 10 months of the

year, Türkiye also welcomed 2.76 million

Iranian and 2.45 million Bulgarian

visitors. Page 8

Revolution in Skin

Renewal with Bioderma

MATRICIUM


Economic Newspaper January

2 Please mention

2025

“Made in Türkiye” when writing to advertisers

Mehmet Soztutan

Editor-in-Chief

Letter From

The Editor

Being competitive

in Syria…

Türkiye’s role in post-Assad Syria has turned out to be crucial for

stability and regional prosperity. It is evident that a prosperous

and brand-new Syria would benefit the entire region. Türkiye

could provide Syria with access to regional and global markets for

trade, investment and economic partnerships.

Turkish ministries are poised to contribute to Syria’s economic recovery

and reconstruction by providing expertise and support in

their respective fields after the collapse of the regime, in close

collaboration with the authorities of the new interim government.

During the latest cabinet meeting, ministers are instructed to engage

in the initiatives in Syria within the scope of their areas of

responsibility.

Located at the intersection of Europe, Asia, the Middle East and

Africa, Türkiye’s geographical location and high-tech infrastructure

investments offer significant advantages for exporting industries

of Türkiye aiming at penetrating into Syrian markets more

than ever.

As known, offering high-quality products at affordable prices with

faster and reliable delivery, Turkish firms managed to establish

themselves as the most important suppliers during a period of regional

uncertainty and turmoil in the Middle East countries.

Actually, Turkish exporters put an emphasis to tackle the challenges

they face in integrating an innovation strategy with planning

and execution and moving at speed to stay ahead of the competition

in Syria.

We know that the Turkish business people wish to relentlessly invest,

manufacture and export for Syrian economy. They are particularly

involved in identifying, evaluating and selecting target

markets by trying to answer most urgent questions.

Being around the world for decades, we have a crucial part to play

through our diverse range of export- oriented publications in order

to convey messages of the Turkish exporters in an efficient

manner.

We wish lucrative trade for them and their Syrian partners.

THOUGHT OF

THE MONTH

Always listen to experts!

They’ll tell what can’t

be done and why. Then

do 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 acquitted 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.

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.

• your other car is a BMW.

• when you look in a mirror, you see a lawyer.

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)

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January

2025

Türkiye looks to repower Syria, collaborate on oil, gas

OECD forecasts

Turkish GDP 3.5

percent

Continued From Page 1

“We must very rapidly provide electricity

to parts of Syria that do not have

electricity, with imports in the initial

phase, he was cited as telling a meeting

with Turkish media representatives.

In the medium-term, we also plan to

increase the set electricity power, the

production capacity there,” the minister

added.

“There is a need for everything in Syria.

We will work on the infrastructure master

plan with the leaders there,” he said,

adding Türkiye could also send electricity

to Lebanon via Syria.

Currently, Türkiye supplies approximately

210 megawatts of electricity to

Syria, said Bayraktar. But the country’s

war-damaged infrastructure has an

existing capacity of only about 3,000

megawatts, according to 2022 data provided

by the minister.

He highlighted plans to work on increasing

this capacity.

Nearly 60% of Syria’s electricity is produced

from oil, with about 38% coming

from gas, according to Bayraktar.

Before the conflict, there was a 400-kilovolt

high-voltage network from Birecik

hydroelectric power plant, located in

the Southeastern Anatolia region, along

the Euphrates River, to Syria’s Aleppo.

However, Bayraktar said the status of

the segment beyond al-Rai town in Syria

remains unknown. EPEPBayraktar

said Ankara was working on using Syria’s

oil and natural gas resources for the

country’s reconstruction, as production

of both had significantly fallen during

the war.

“There are many topics that need to mature,

from forming an oil pipeline from

Syria to Türkiye, merging this with our

Iraq-Türkiye pipeline,” he was cited as

saying, adding Ankara and Damascus

could collaborate on oil and natural gas

in the near future.

In the early 2000s, Syria produced

600,000 barrels of oil per day. However,

output plummeted to as low as 30,000

barrels per day due to the war.

Separately, Bayraktar said Türkiye was

ready to cooperate with other countries

on energy in Somalia, where a Turkish

drill ship is carrying out hydrocarbon

exploration, added that “there are offers.”

NATO member Türkiye has ramped up

its presence and influence in Africa in

recent years, increasing trade nearly eightfold,

giving diplomatic and military

support to some countries, and inking

deals in various fields.

Bayraktar also noted Türkiye had signed

a new agreement with Niger for

three new gold mining fields in Agadez,

in addition to the ones the sides agreed

months ago.

In October, Türkiye inked a cooperation

agreement with Niger on mining, after

having signed a similar cooperation

deal with the West African nation on oil

and gas in July.

Under the deal, Türkiye’s Mineral Research

and Exploration Directorate was

granted authority over three gold mining

fields, protected by Niger security

forces, and planned to start production

there soon. Bayraktar designated 2025

as a crucial decision year for nuclear

energy. He underscored the need for

two additional large conventional nuclear

power plants in Türkiye, alongside

the Akkuyu that is under construction

near the Mediterranean port city of

Mersin.

The $20 billion, 4,800 megawatts (MW)

Akkuyu plant will bring Türkiye into the

small club of nations with civil nuclear

energy.

The country plans to launch trial production

of the first reactor next year. The

remaining three reactors are expected to

come online by the end of 2028.

Türkiye plans a second plant in the Black

Sea province of Sinop and a third in

the northwest region of Thrace. The goal

is to reach 7,700 MW of nuclear generation

capacity by 2035, Bayraktar said.

Eventul target is to have 15,000 MW

of nuclear capacity. Türkiye looks to

complement these with up to 5,000 MW

of small modular reactors (SMRs).

Bayraktar revealed that production at

the vast gas reserve in the Black Sea is

expected to exceed 9 million cubic meters

by the first quarter of 2025.

The Sakarya gas field, which has been

discovered gradually since August 2020,

is believed to contain 710 billion cubic

meters (bcm) of gas.

The current output meets the gas needs

of approximately 2.9 million households,

said Bayraktar.

The daily production is expected to reach

20 million cubic meters by 2026. That

is aimed to eventually be lifted to up to

45 million cubic meters, according to

Bayraktar.

“Over 40 new wells will be drilled by

2028,” he said.

Bayraktar also said works on establishing

a natural gas hub in Türkiye were

ongoing. The plan was first floated by

Russian President Putin in 2022 after

the Nord Stream pipeline explosions.

Russia seeks to replace lost sales to

Europe, supporting Ankara’s long-held

desire to function as an exchange for

energy-starved countries. Bayraktar

also expressed optimism about what he

said were significant cooperation opportunities

with the new Trump administration

in the gas sector.

He mentioned receiving offers related to

Black Sea gas and welcomed these proposals.

Türkiye’s liquefied natural gas (LNG)

storage facilities are over 90% full, and

half of the contracted deliveries from

Iran have already been received, said

Bayraktar.

He assured that there is no risk for this

winter.

Highlighting 2024 as a record year for

solar and wind energy, Bayraktar announced

plans to establish over 6,000

megawatts of new installed capacity.

He added that the energy storage market

has also grown to 33,000-34,000 megawatts,

with ongoing discussions with

China and other countries,

Bayraktar also mentioned discussions

with France on offshore wind farms

and potential collaborations with other

countries.

Continued From Page 1

However, exports should increase on the back

of an improvement in the external environment

and a continued revival of international

tourism, it added.

Turkish GDP growth is projected to rebound

in 2026, reaching 4 percent as the effects of

the stabilization policies ease, according to the

Paris-based organization.

In its interim report published in September,

the organization’s GDP expansion forecast to

Türkiye was 3.2 percent.

The Turkish economy grew by 5.1 percent in

2023.

OECD, meanwhile, raised its 2025 global

growth forecast to 3.3 percent but warned of

the risk of protectionist measures to spark inflation

and slow the economy.

Just weeks before Donald Trump returns to

the White House with pledges to slap tariffs

on U.S. trading partners the OECD cautioned

that “greater trade protectionism, particularly

from the largest economies” poses a “downside

risk” along with geopolitical tensions and high

public debts.

“Increases in trade-restrictive measures could

raise costs and prices, deter investment, weaken

innovation and ultimately lower growth,”

the OECD warned in its report.

Further increases in global trade restrictions

would add to import prices, raise production

costs for businesses and reduce living standards

for consumers, it added.

The 0.1 percentage point increase in its 2025

global growth forecast, to 3.3 percent, was primarily

due to stronger U.S. growth.

Both France and Germany saw their 2025

growth forecasts cut by 0.3 percentage points,

to 0.9 percent and 0.7 percent, respectively, as

the countries face political crises amid mounting

fiscal pressure.


5 Economic Newspaper

Please mention

“Made in Turkey” when writing to advertisers

January

2025

A first in Türkiye: The Chemical Technology

Centre inaugurated

Professional skincare solutions for

winter are now easier with COSMED!

Continued From Page 1

Great support and 5 years of preparation

The center, which was realized with the

support of the Ministry of Trade and

with the contributions of the Ministry

of Industry and Technology, draws attention

with its 7 thousand square meter

closed area. The Chemical Technology

Center, which was completed after

a detailed five-year planning process,

will be a meeting point where innovative

projects will be developed.

Minister Bolat: “It will add speed to

our exports”

Delivering his speeches at the opening

ceremony, Minister of Trade Prof. Dr.

Ömer Bolat emphasized the contribution

of the center to exporters and said,

“The chemical industry has a huge share

in the world economy. This center

will provide time and cost advantages

to our exporters and support the great

goals of the sector.” Bolat pointed out

that 39 tests conducted abroad will be

carried out in Türkiye for the first time.

Minister Kacir: “It will bring a new

breath”

Minister of Industry and Technology

Mehmet Fatih Kacır expressed

the contribution of the center to the

country’s economy and innovation

ecosystem in the following words: “This

investment of 165 million liras will play

a critical role in R&D and technology

development infrastructure. Providing

16 billion liras of support, the chemical

industry will achieve even greater success

with this center.”

Pelister: “We are building the future

of the industry”

IKMIB President Adil Pelister stated

that the center is the result of a 5-year

vision study and used the following

expressions: “The Chemical Technology

Center will save time and cost by

performing the tests that have been carried

out abroad until today in Türkiye.

We will make an annual contribution of

12.5 million dollars to the current account

deficit.”

Innovations that the Chemical Technology

Center will bring:

-An important infrastructure in the

field of chemistry with 209 different test

capacities.

-Accredited laboratories that will reduce

dependence on foreign countries.

-Support for start-up projects with the

incubation center.

-Contribution to the current account

deficit and cost advantage.

Thanks to the Chemical Technology

Center, the Turkish chemical industry

is moving forward with more confidence.

This innovative ecosystem will increase

the country’s export potential and

offer solutions that will set an example

for the world in technology.

Continued From Page 1

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Economic Newspaper January

8 Please mention

2025

“Made in Türkiye” when writing to advertisers

Türkiye ready to contribute to Syria’s economic recovery

and reconstruction by providing expertise and support

Continued From Page 1

Türkiye is expected to play a pivotal role in

rebuilding Syria’s economy following the fall

of the Assad regime, experts opined, while

representatives of some Turkish sectors anticipate

they could leverage their expertise and

contribute to employment and production in

the war-torn country.

In line with this, Turkish authorities have also

signaled readiness for involvement in reconstruction,

including in energy and key infrastructure

in its southern neighbor, deprived by

years of conflict.

Türkiye has recently reopened its embassy in

Damascus and its intelligence chief and foreign

minister have met with Syria’s new de-facto

leader Ahmed al-Sharaa recently.

Syria has five airports, two of which have recently

become operational, Damascus and

Aleppo, Uraloğlu said at a news conference in

Ankara, noting that the airports still require

significant improvements.

Damascus Airport handled approximately

100,000 trips, while Aleppo managed between

50,000 and 60,000, Uraloğlu said, adding

that a Turkish team checked airports and discovered

that there is no radar system.

“There is an air radar application that we use

on our mobile phones. Imagine, they were

trying to manage it from that mobile phone

application,” he said.

Computers from the 1990s are still used at

these airports, and there are no proper X-ray

devices, detectors or anything else, he explained.

He added that the runways are seriously aging

and that the first flight to Damascus and

Aleppo was entirely on the pilots’ initiative,

in other words, without any system and under

visual conditions.

“So our friends made a determination, and

then we have put forward an action plan,” he

said.

The minister said Türkiye will take action to

revive Damascus Airport in the first phase.

“There are parts of the railways that go from

Türkiye to Hejaz; they have not been operated

for a long time. We will quickly identify them

and take a position to ensure the integrity of

the railroad up to Damascus in the first place,”

he said.

“We sent passenger trains there in 2009-2010.

There is infrastructure there, but only in certain

regions,” the minister said.

The approximately 1,750-kilometer (1,085-

mile) Hejaz Railway was built by Ottoman

Sultan Abdulhamid II to connect Istanbul,

Mecca, Medina, Yemen and Damascus. It began

operating in 1908.

The railway, which contributed to the region’s

development, was built for religious, military

and political purposes.

The line had been providing Hajj pilgrims

with a safe route.

Pointing to counterterrorism operations,

he said, “Whether in the internal dynamics

in Syria, the M4 and the M5 highways have

always been discussed.”

“In other words, a highway can have such an

impact on the politics of a country.”

Türkiye is dealing with these roads, but Ankara

has already done a lot of work, particularly

on highways, the minister said.

The M4 highway connects the capital, Damascus,

and Aleppo, while the M5 highway links

the Mediterranean city of Latakia to Aleppo.

The 450-kilometer M5 is a strategic highway

in southern Syria, close to the borders with

Jordan and Türkiye. The highway links the

country’s largest provinces: Damascus, Homs,

Hama, Aleppo and Idlib.

It was a vital economic route for the country,

particularly connecting the industrial hub

Aleppo. The 120-kilometer M4 also runs through

the M5. Half of the M4 spent a long

time in the war zone. “I can say that we have

done a lot of work there and repaired many

destroyed bridges,” the Turkish minister underlined.

The minister also said Syria is 20-30 years

behind Türkiye in terms of communication,

noting that cell phones are not used at many

points.

Uraloğlu pledged that, “We will make the necessary

determinations about these, and we

will try to realize them as the ministry, as I

said; everything is needed there.”

He said even though Syria was not able to

print its own money, Russia has been printing

for it. “Right now, many countries in Africa

are in a similar position; some developed

countries are printing their money. At this

point, Türkiye will support this.”

He acknowledged Syria’s strategic location as

a gateway to the Mediterranean but noted that

its ports are underdeveloped.

“We will most likely make determined efforts

to make specific investments there.”

“Of course, a Maritime Jurisdiction Agreement,

probably, so that we can protect our interests

in the Eastern Mediterranean and the

Blue Homeland; our relevant institutions will

take a position there when the day comes.”

Türkiye had previously prepared a similar agreement

with Libya.

The delimitation of maritime jurisdiction

areas is critical given the presence of hydrocarbon

resources in the Eastern Mediterranean,

as well as the presence of Syria, Lebanon,

Israel, Egypt, Libya, Greece, the Turkish Republic

of Northern Cyprus (TRNC) and the

Greek Cypriot administration, in addition to

Türkiye.

Although the TRNC issue remains unresolved,

the Greek Cypriots signed maritime

boundary agreements with Egypt in 2003,

Lebanon in 2007 and Israel in 2010, disregarding

the equal rights of the Turkish Cypriots.

The Agreement on the Delimitation of Maritime

Jurisdiction in the Mediterranean, signed

on Nov. 27, 2019, by Türkiye and Libya, is significant

because it protects the two countries’

rights in the Eastern Mediterranean.

“In terms of trade,” the minister said, Damascus

and Syria have a history. “We will do our

best to revive it.”

Stating that such an agreement will increase

the effectiveness and competence of both Syria

and Türkiye, he said, “At the point of oil

and hydrocarbon exploration there, taking

into account international law, we will share

or expand all kinds of authority as two countries.”

“Of course, first of all, an authority needs to

be established there. Look, the salaries of the

civil servants there need to be paid.”

He also said there is a plan for armed groups

to lay down their arms.

“This will definitely be on the agenda, but it

would not be very accurate to say that it is today’s

agenda.”

Referring to the Iraq-Türkiye Development

Road project, the minister said, “The first

phase of Iraq’s Fav Port will be commissioned

in 2025, and port activities will begin.”

The Development Road is an important trade

route that would connect Iraq and Türkiye via

railways, roads, ports and cities.

The 1,200-kilometer railway and highway will

connect the Great Faw Port, which aims to be

the largest port in the Middle East.

With the Iraqi Silk Road, an alternative route

to the Suez Canal is being built to facilitate

faster and more efficient trade.

Only negotiations between the regional administration

and the central government about

where it will pass in northern Iraq are ongoing,

he stated, adding, “We are currently following

up.”

The minister explained that the issue is being

discussed from management to financing and

operations.

“There are things that need to be done in Türkiye;

we are planning them. Approximately

2,092 kilometers of railway will pass through

Türkiye,” he said.

Approximately 1,900 kilometers of highway

will also be part of the project, he added

Over 47 million

foreign tourists

visit Türkiye in

10 months

Continued From Page 1

The number of Ukrainian tourists visiting

Türkiye in January-October exhibited

an annual increase of 13.3 percent to

848,342.

Istanbul remained the top destination

for foreign visitors. The megacity welcomed

15.8 million tourists in the first 10

months, corresponding to a 33 percent

share in total arrivals. The Mediterranean

province of Antalya received 15.2 million

foreign tourists. More than 4 million

foreigners visited the northwestern province

of Edirne. People from the neighboring

countries, mostly from Bulgaria,

travel to Edirne for shopping purposes.

Tourism Minister Mehmet Nuri Ersoy

recently said that the end-of-year target

for visitors was revised to 61 million

from a previous 60 million. Türkiye’s

tourism revenue increased by 6.6 percent

to $46.9 billion in the first nine months

of 2024 from a year ago.

The government initially aimed at $60

billion in tourism revenues for 2024.

Istanbul will host a major tourism event

on Nov. 26-27, the Turkish Tourism Investors

Association (TTYD) announced.

The Tourism Investment Forum (TIF)

2024 will bring together international

investors, financial firms, hotel brands,

innovators and real estate developers,

among others, to explore investment opportunities

in Türkiye, according to the

association. TIF is expected to attract

over 1,000 participants representing

nearly $10 trillion in the global tourism

ecosystem. Key discussions will focus on

strategies shaping the future of travel and

tourism investments, financing, emerging

trends, luxury and lifestyle brands,

cultural and artistic initiatives, wellness

and medical tourism.


9 Economic Newspaper

Please mention

“Made in Turkey” when writing to advertisers

January

2025

Pastel Cosmetics expands to new markets

in Europe and Asia!

Continued From Page 1

By entering Primor, one of Europe’s leading retail

chains, Pastel Cosmetics has strengthened its presence

in the Spanish market. At the same time, the

company has expanded its reach to Chile and Myanmar.

With these developments, Pastel Cosmetics has

grown its export network to 48 countries, showcasing

its determination to maintain global growth

momentum.

Pinkar Kimya reaches new heights in global

growth journey in 2024!

Pastel Cosmetics has recently started exporting to

Chile, one of Latin America’s key emerging markets,

and Myanmar, Asia’s rising star. With these strategic

moves, the company has increased the number of

countries it exports to 48, reaffirming its commitment

to global expansion.

A Year of Major Breakthroughs for Pinkar Kimya

The year 2024 marked a significant milestone in

Pinkar Kimya’s international market strategy. By entering

Primor, one of Europe’s leading retail chains,

Pastel Cosmetics has strengthened its presence in

the Spanish market. At the same time, the company

has expanded its reach to Chile and Myanmar. With

these developments, Pastel Cosmetics has grown its

export network to 48 countries, showcasing its determination

to maintain global growth momentum.

New Markets, New Opportunities

With over 80 years of industry experience and a

forward-thinking vision, Pinkar Kimya continues to

stand out through effective strategic planning. Company

representatives highlighted the importance of

this expansion with the following statement:

“Entering emerging markets like Myanmar and

establishing a presence in Europe’s leading retail

chains are significant milestones in our global objectives.

Pastel will gain recognition in these new

markets with its commitment to quality and accessibility.”

Consumer Trends and Innovation-Driven Production

The cornerstone of Pastel Cosmetics’ success lies in

its innovative approach to product development and

its ability to closely monitor consumer trends. Its extensive

color range and dynamic product collections

demonstrate a strategic approach that anticipates

and meets the expectations of global consumers.

2025 Goals: Focus on the Far East and Africa

Pastel Cosmetics aims to further expand its presence

in the 48 countries it currently operates in. Its

2025 goals prioritize exploring new markets in Latin

America, Africa, and the Far East. With a flexible

service model tailored to local market dynamics and

a broad product portfolio, the company is committed

to earning consumer trust worldwide.

Quality and Trust: The Core Values of Pastel

Pinkar Kimya, with its Pastel and Show by Pastel

brands, continues to lead the cosmetics industry.

Innovative products supported by its Product Development

and R&D departments, combined with

marketing teams that consistently follow trends, enhance

brand loyalty.

By combining its global strength with high-quality

products and a customer-focused service approach,

Pinkar Kimya aims to reach even more consumers

worldwide.

Revolution in Skin Renewal with Bioderma MATRICIUM

Bioderma is making a significant breakthrough in

skincare with MATRICIUM, a product inspired by

the skin’s natural renewal process.

A New Era in Skin Renewal: MATRICIUM

Over time, the skin loses its elasticity due to aging

and environmental factors. After medical aesthetic

procedures, the skin requires support for healing and

renewal. After 14 years of research, Bioderma has developed

MATRICIUM, a product that enhances the

skin’s natural healing process and supports recovery.

Inspired by the skin’s own nature, MATRICIUM stands

out as an innovative solution offered by Bioderma,

which continues to provide products for the needs of

babies, children, and adults alike.

MATRICIUM supports collagen production in the

skin and helps with renewal due to its antioxidant

capacity. This formula supports the skin’s natural renewal

process, providing a healthy skin appearance.

MATRICIUM, which increases collagen synthesis in

the skin and has anti-aging effects, nourishes the skin

with amino acids and peptides while simultaneously

strengthening the skin barrier. This special product

provides hydration with hyaluronic acid, while maintaining

the integrity of the skin matrix with mineral

salts and vitamins.

Application and Results

MATRICIUM is recommended for individuals aged

25 and above and is suitable for all skin types. It provides

essential support for the skin’s healing process after

medical aesthetic procedures such as peels and laser

treatments. It also offers an effective solution for acne,

rosacea, and sensitive skin issues.

Dermatological tests show that MATRICIUM reduces

the appearance of fine lines and wrinkles by 85% in

users, increases skin brightness* by 90%, and improves

skin hydration* in 100% of users. Additionally, 80% of

users reported skin renewal**, and 85% experienced

strengthened skin barriers**.

*Test conducted with 20 healthy women aged 25-65 with sensitive

skin under dermatological control over a 28-day period,

China, 2017

**Test conducted with 20 healthy women aged 25-65 with sensitive

skin under dermatological control, China, 2017

Türkiye sets target to

boost domestic energy

share to 63% by 2028

Türkiye’s Ministry of Energy and Natural Resources has set a target

to increase the share of domestic resources in electricity generation

to 63% by 2028 as part of its 2024-2028 Strategic Plan.

The plan, which outlines a roadmap for sustainable energy security

and addresses the country’s unique energy needs, aims to

enhance domestic production and reduce dependency on foreign

energy sources.

The plan aims to generate 270 billion kilowatt-hours of electricity

annually from domestic resources by 2028.

It also targets increasing the installed capacity of solar power

plants to 33,100 megawatts and wind power plants to 19,300 megawatts.

Additionally, the plan envisions bringing 4,800 megawatts

of nuclear energy capacity online.

Other objectives in the plan include raising daily domestic crude

oil production to 210,000 barrels, natural gas output to 42.5 million

cubic meters, and increasing natural gas storage capacity to

12 billion cubic meters. It also targets annual mining exports to

reach $10 billion.

Seven main goals have been outlined in the plan, including ensuring

sustainable energy supply security, reducing dependency on

foreign energy, transitioning to net-zero carbon energy, enhancing

safe and sustainable mining, and increasing national and international

effectiveness in energy and mining markets.

It also emphasizes supporting local technology development in

energy and natural resources.

Specific measures include strengthening the national electricity

grid, expanding renewable energy capacity, improving energy efficiency,

and promoting green hydrogen and renewable gas value

chains.

The plan aims to enhance the mining sector, focusing on critical

minerals and ensuring mining activities are conducted safely and

sustainably.

The ministry plans to increase integration with international energy

and mining markets to boost trade and improve investment

opportunities.

Technology development and R&D in energy and natural resources

will be prioritized, emphasizing localizing equipment and

technology.

The ministry will strengthen its institutional infrastructure, improve

governance at affiliated agencies, and enhance digital transformation

and cybersecurity capabilities. It also aims to bolster

disaster and emergency response capacities.

meridyenfuarcilik meridyenfuarcilik +905393892395

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Economic Newspaper January

10 Please mention

2025

“Made in Türkiye” when writing to advertisers

Turkish startup ecosystem attracts $4.7B in investments in 4 years

RECEP ARSLANTAŞ

COORDINATOR

recep.arslantas@img.com.tr

Türkiye’s

role in Syria’s

reconstruction

Türkiye’s ties of friendship and

brotherhood are coming to the

fore in Syria’s reconstruction

process. Turkish exporters, especially

in the cosmetics sector,

have made it a priority to support

the Syrian people. Türkiye,

which embraced Syrians who

had to leave their country years

ago, is now ready to do its part

in the reconstruction process.

As Syrians leave for their country

through the border gates,

they are shown Türkiye’s contribution

to the reconstruction of

Syria. Türkiye is determined to

stand by its friend and brotherly

country Syria in the future as it

has done in the past. This solidarity

further strengthens the

ties between the two countries.

Until February 2025, see you in

the February 2025 issue of our

Made in Türkiye export newspaper.

Recep ARSLANTAŞ

Coordinator

Türkiye aims for 1.5 pct share of global FDI by 2028

Continued From Page 1

“In the 2011-2021 period, our startups

received approximately $810

million in investments. However,

when we look at the last four years,

especially if we take into account the

first nine months of 2024, when an

investment of $700 million was received,

an investment of $4.7 billion

came to Türkiye,” Polat remarked.

He noted that as the Presidency Investment

Office, they aim to present

Türkiye’s technology startup ecosystem

in different environments, such

as Slush while also recalling the participation

at the recent Web Summit

in Lisbon.

“We want to somehow explain both

Türkiye’s developed ecosystem with

all its players and the public incentives

given. These events have another

importance. When we look at

the world recently, the investments

coming from technology initiatives

have a serious meaning in terms of

employment, growth and other inputs

in the economy,” he explained.

“We also hope that our Turkish entrepreneurs

will get more of this share,”

he added.

Furthermore, he pointed out at some

key opportunities and value propositions

that investors need to bear

in mind such as the strong growth

of the Turkish economy in the last

two decades, a young and talented

workforce, a strong entrepreneurial

culture as well as unique location.

He also noted that Türkiye has seven

unicorns (the term used for startups

Trade Minister Ömer Bolat announced

plans to increase the country’s share of

global foreign direct investment (FDI)

to 1.5 percent by 2028, building on significant

growth in recent years.

“Our share in foreign investments globally

was 0.2 percent in the past. We increased

it to 1 percent by 2002, and our

goal is to reach 1.5 percent by 2028,”

Bolat said at the parliament’s plan and

budget commission.

The minister’s comments come as recent

data from the International Investors

Association (YASED) shows that FDI

in Türkiye reached $7.67 billion in the

first three quarters of 2024, an 8 percent

year-on-year increase.

Bolat highlighted the country’s economic

progress, noting that FDI in Türkiye

totaled just $1 billion between 1950-

1980, rose to $15 billion from 1980 to

2002, and surged to $271 billion between

2003 and 2024.

“While the number of foreign investors

in Türkiye was 5,600 until 2002, it has

now grown to 83,000 direct investors,”

Bolat added, emphasizing the country’s

improving investment climate.

According to YASED, citing Turkish

Central Bank figures, equity capital inflows

accounted for $4.33 billion of the

total FDI between January and September

2024. The wholesale and retail trade

sector led with $932 million, representing

22 percent of equity inflows.

Real estate investments from foreign

exceeding $1 billion in value), while

adding “that there are many unicorn

candidates in the country.”

“We are working tirelessly to cultivate

more ‘Turcorns,’” Polat added,

referring to a term used for Turkish

unicorns.

He also recalled the recent investment

strategy for the period between

2024 and 2028, emphasizing that

sustainability, green transformation

and digital transformation, which

have become very important recently,

are at the center of this strategy.

Polat, who noted that while meeting

with international investors, they

saw many young talents from Türkiye

working in many companies and

rising to higher levels, stated that

young people believing in Türkiye’s

buyers remained a significant contributor,

bringing in $2.2 billion during the

nine-month period.

The Netherlands emerged as the leading

source of FDI, responsible for 19

percent of total inflows, followed by

Germany at 12 percent and the United

States at 11 percent.

Bolat also noted improvements in Türkiye’s

trade balance, reporting a decrease

of $27.5 billion in imports and

a $35.5 billion reduction in the foreign

trade deficit. The current account deficit

for January–September 2024 stood at

$5.3 billion, a significant improvement

from previous figures.

“Türkiye is steadily increasing its share

of world trade. We have raised our share

in goods exports to 1.08 percent and in

services exports to 1.35 percent,” Bolat

said, adding that total exports of goods

and services have reached $375 billion.

The minister attributed the growth in

foreign investment to Türkiye’s economic

and political stability, legal framework

and overall economic growth.

“Foreign investors wouldn’t come here

just for our looks. They come because

of our economic policy, political environment,

and growth potential,” Bolat

remarked.

potential will take the country to the

next level.

“Our country, with its 85 million

population in its region, an average

age of 33 and a half, an educated,

young, qualified and sophisticated

production power, is actually, as investors

sometimes say, ‘the biggest

economic power and regional power

between Germany and China.’ And

of course, this is not enough. We

have bigger goals. Hopefully, as a

country, we will be working together

to rise to higher levels in many areas,”

he concluded.

Exports to ‘distant countries’

to reach $50 billion

Continued From Page 1

About two-thirds of Türkiye’s total exports go to countries

that are relatively close to Türkiye, according to a report by the

Trade Ministry, which noted that Türkiye’s average export distance

remains below the world average.

Distant countries account for 62 percent of the world’s population

and contribute to 64 percent of global GDP.

Türkiye’s goods exports to those distant countries averaged $20

billion between 2018 and 2020, according to the ministry.

Under the Distant Countries Strategy, Türkiye is seeking to

extend its average export range from 3,065 kilometers to the

global average of 4,744 kilometers and also to gain a foothold

in distant major markets.

Singling out the U.S. as Türkiye’s important ally and trade partner,

Bolat noted that the trade has been growing fast between

the two countries in the last five years.

The trade volume of goods and services between the two nations

reached $40 billion in 2023, the minister said, adding that

the U.S. was Türkiye’s second export market.

As part of their U.S. strategy, Bolat said that they identify potential

export products on a state-by-state basis.

Türkiye has a share of 2.9 percent in world logistics exports,

the minister also said, noting that they aim to increase logistics

exports by $50 billion in the medium term

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Economic Newspaper January

11 Please mention

2025

“Made in Türkiye” when writing to advertisers

The Turkish Ready-Wear Fashion Industry: A Global Success Story

Continued From Page 1

This sector not only fuels the economy

but also strengthens Türkiye›s position in

the global fashion scene, showcasing its

innovative design, quality manufacturing,

and ever-growing export capacity.

A Strong Foundation in Textiles

Türkiye’s textile heritage dates back

centuries, and this history has laid the

groundwork for the country›s booming

fashion industry. The combination of a

skilled labor force, advanced technology,

and a strong infrastructure has made

Türkiye a hub for textile production.

The ready-wear fashion industry

benefits from a robust supply chain that

includes everything from yarn and fabric

manufacturing to garment production,

making it an integral part of Türkiye›s

industrial landscape.

Innovation and Design at the Forefront

In recent years, Turkish ready-wear

brands have increasingly embraced

innovation, making a significant mark on

international fashion. Turkish designers

have developed a reputation for their

innovative talents, blending Western and

Eastern influences while maintaining

high-quality standards. These designs

appeal to a broad international audience,

offering stylish and contemporary

collections that are suitable for diverse

tastes and climates.

The rise of fashion designers and brands

in Türkiye reflects a shift towards more

homegrown, locally designed products.

Many Turkish fashion houses focus on

providing a unique blend of modern

trends, luxury, and functionality,

allowing their works to stand out in

a competitive global market. This

innovation, along with an emphasis on

sustainability and ethical production, has

gained the attention of fashion-conscious

consumers around the world.

Export Success

Türkiye›s ready-wear industry has

become one of the country›s most

important export sectors. As of recent

reports, the fashion industry contributes

billions of dollars to the Turkish economy,

with major markets including Europe,

the Middle East, and North America.

Turkish-made garments, including

denim, knitwear, and outerwear, are

highly sought after for their quality,

design, and competitive pricing.

The country’s strategic location between

Europe and Asia allows it to act as a bridge

for global trade, facilitating easy access

to both Western and Eastern markets.

Major Turkish cities, such as Istanbul,

Bursa, and Izmir, are key hubs for

garment manufacturing, with a growing

network of factories that meet the global

demand for ready-wear apparel.

Türkiye’s participation in international

trade fairs, like the Istanbul Fashion

Week and the textile and fashion fairs in

Milan and Paris, continues to bolster its

global presence. These platforms provide

Turkish designers and manufacturers

with opportunities to showcase

their collections, forge new business

partnerships, and increase their export

reach.

The Role of Technology and

Sustainability

The integration of technology into

Türkiye›s ready-wear industry has been

another critical factor in its success.

Cutting-edge machinery and automation

processes have enhanced production

efficiency, reduced waste, and improved

garment quality. Turkish manufacturers

are now adopting innovative techniques

such as 3D garment design and

automated cutting to stay competitive in

a rapidly evolving market.

In addition, sustainability has become

a major focus. As the global fashion

industry increasingly turns toward ecofriendly

practices, Turkish manufacturers

are embracing sustainable production

methods, using organic materials, and

reducing environmental impacts. Several

Turkish fashion brands are gaining

recognition for their commitment to

sustainable practices, making Turkish

ready-wear a popular choice for

environmentally conscious consumers.

Challenges and Opportunities Ahead

Despite the many successes, the

Turkish ready-wear fashion industry

faces challenges that include rising raw

material costs, fluctuating currency

exchange rates, and competition from

other emerging markets. However, these

challenges also present opportunities

for innovation, particularly in terms

of producing value-added products,

enhancing digital capabilities, and

expanding the presence of Turkish

brands on global online platforms.

Looking ahead, the Turkish ready-wear

fashion industry is poised for continued

growth. With its rich textile heritage,

skilled workforce, and commitment to

innovation and sustainability, Türkiye is

well-positioned to remain a key player in

the global fashion market.

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