TURKISH TRADE NEWSLETTER
April 2010 - Issue 12
ISK - SODEX 2010 - International HVAC & Refrigeration Exhibition Buyers’ Mission
May 5-8, 2010
ISTANBUL - Undersecretariat of the Turkish Prime Ministry for Foreign Trade is organizing a Buyers’ Mission Program during the International HVAC & Refrigeration Exhibition (ISK – SODEX) 2010, which is scheduled to take place between May 3-6, 2010 at the Istanbul Expo Center in Istanbul, Turkey. The Buyers’ Mission Program is intended to introduce Turkish HVAC and Refrigeration companies to prospective business partners from all over the World including the USA. The exhibition will host heating, refrigeration, air-Conditioning, insulation, ventilation, pumps, valves, sanitary appliances, water treatment, pool, solar power products and latest trends in the industry.
Strategically located at the crossroads of three continents, Europe, Central Asia and the Middle East, Turkey offers unique opportunities for international companies that are seeking partners not only in its domestic market but also within the aforementioned rapidly growing regions. Subsequently, Turkey’s dynamic, R&D oriented and innovative HVAC & Refrigeration industry has been expanding through trade and joint ventures with the increasing demand from both its sizable domestic market and neighboring countries.
Since most of the manufacturers in Turkey as well as their international counterparts will be present at the exhibition to display their most recent products, attending ISK – SODEX 2010 would be an invaluable opportunity to network with HVAC & Refrigeration suppliers in Turkey. The exhibition is considered a strategic “rendezvous” point to establish mutually beneficial business relationships with most of the thriving manufacturers in Turkey. Further information about the exhibition can be obtained from the ISK-SODEKS Istanbul 2010 website at http://www.hmsf.com/sodex2010/eng/index.asp. To learn more about the HVAC & Refrigeration sector in Turkey, please see HVAC Sector Report on our website.
“Turkish Contemporary Cuisine” at NRA Show 2010
May 22-25, 2010
CHICAGO - National Restaurant Association (NRA)’s annual Restaurant, Hotel-Motel Show will feature Hande Bozdogan, Founder and Manager of Istanbul Culinary Institute in Turkey at World Culinary Showcase on Saturday, May 22 at 2:15 PM. With organization of Office of Commercial Attache at the Consulate General Of Turkey in Chicago and Office of Tourism at the Consulate General Of Turkey in New York, Hande Bozdogan will be giving cooking demonstrations highlighting contemporary Turkish cuisine. She will also hold book signing for award winning books Flavors of the Street: Turkey and Istanbul Contemporary Cuisine – Istanbul Cuisine Contemporaine.
The NRA Show, which will be organized in Chicago’s McCormick Place Convention Center, is the largest single gathering of restaurant, foodservice and lodging professionals in North and South America. As the industry's premier business venue, it offers both domestic and international attendees the best opportunities of the year for networking and exploring new trends, as well as industry insight on myriad key issues via seminars and special events.
Hande Bozdoğan is the founding director of the Istanbul Culinary Institute (ICI). Born in Ankara, Turkey, she has developed her career in the culinary industry since the early 1990s. She holds certificates in cooking and baking from the Bath School of Cookery in the UK and The Culinary Institute of America in Poughkeepsie, NY, as well as a chef diploma from The French Culinary Institute in New York City in 2001. In 2007, she established the Istanbul Culinary Institute (ICI), now a favorite spot for Istanbul’s food enthusiasts. Committed to the research, promotion and advancement of Turkish and Eastern Mediterranean cuisines, ICI offers a professional certificate program as well as amateur cooking classes and serves the public with its training restaurant, gourmet food store and a rich calendar of culinary events.
Household appliance industry met at domotechnica Istanbul
April 22-25, 2010
ISTANBUL - Domotechnica, the global trade show of household appliances and components industry, was held in Istanbul with an outstanding number of participants. Domotechnica Istanbul marks the importance of Turkey in its region as a business hub, particularly, for household appliances industry. TGurkey’s expanding economic potential led Domotechnica to be relocated to Istanbul, which used to take place in Cologne, Germany.
Visitors from 40 countries attended the event, among those countries were Albania, Algeria, Armenia, Azerbaijan, Belarus, Bulgaria, Egypt, Greece, Iran, Iraq, Kazakhstan, Morocco, Romania, Russia, Sudan, Syria, Ukraine and Uzbekistan.
Nearly 200 exhibitors from 16 countries, amongst others country groups from China, Germany, Italy, Spain and Taiwan used the opportunity to create business relations with these visitors.
The renowned trade magazine Dagitim Kanali, the Association of Durable Consumer Goods Salesmen Daysad and GfK, the No. 4 market research organization worldwide, have created a list of “250 ideal dealers“ in Turkey. Research results and catalogues of those dealers were presented during domotechnica Istanbul.
Furthermore, Dagitim Kanali and Forum Fairs organized a seminar focusing on building trade chains. Various aspects were highlighted, starting from logistics, sourcing and ending with shop design and sales strategies.
Via several onsite demonstrations exhibitors displayed their product innovations. E.g. consumer safety, ease of use and efficiency were performed on the basis of cooking demonstrations with brand new electronic and gas hobs at the Copreci booth (hall 10, booth No. D-07).
Istanbul Chamber of Industry, member of Enterprise Europe Network, organized a matchmaking event during domotechnica Istanbul on April 22nd, 2010. The event was structured with bilateral meetings with the intention to assist Turkish companies to establish direct contacts with European partners. Turkish and foreign companies which were seeking and/or offering new technological solutions or innovative products had the chance to assess the opportunities which will lead to technological and commercial cooperation and partnerships.
Further information is available at: www.domo-ist.com
IMF raises forecast for Turkey's growth
aPRIL 21, 2010
TURKEY - Turkey’s economy may expand 5.2 percent this year, the International Monetary Fund, or IMF, said in a report on Wednesday, raising its forecast as domestic demand helps the country recover from recession.
The IMF prediction exceeds the government’s estimate of 3.5 percent growth and is higher than the 3.7 percent the fund forecast in its October issue of the World Economic Outlook. The IMF expects Turkish growth to slow to 3.4 percent in 2011.
The economy expanded an annual 6 percent in the last three months of 2009.
Turkey is rebounding from the global financial crisis faster than many peers in eastern Europe because domestic confidence “has already recovered from the initial external shock” and capital flows and trade are returning to normal, the IMF report said.
Inflation will average 9.7 percent over 2010, compared with 6.3 percent last year, the IMF said. The average rate in 2011 will be 5.7 percent, it said.
The current-account deficit will widen to 4 percent of gross domestic product this year from 2.3 percent in 2009, the IMF said. The previous forecast for the 2010 deficit was 3.7 percent of GDP.
Business and Investment Opportunities in Southeast Europe
April 14, 2010
CHICAGO - American Southeast Europe Chamber of Commerce (AmSECC) partnered with Baker & McKenzie to host a groundbreaking event - “Business and Investment Opportunities in Southeast Europe”, on Wednesday, April 14, 2010. Representatives from seven Southeast European countries including Turkey discussed business and investment opportunities in the region relative to their countries.
At this -first of its kind- event, Consul Generals, Consuls for Economic Affairs and Trade Specialists from Turkey, Bosnia and Herzegovina, Croatia, Macedonia, Romania, Serbia and Bulgaria gave presentations about business opportunities and current data on Southeast Europe’s surpassingly favorable investment climate to American companies and investors. The event drew exceptional attention of Chicago business community.
With a total GDP of $1,191.6 billion (Turkey’s GDP $794.2 billion) Southeast Europe is rapidly leaving a mark in the world economy. World Bank's ranking of 183 World Economies shows that countries of Southeast Europe have a better aggregate ranking than emerging markets of Brazil, Russia, India, and China (BRIC countries).
Turkey has great energy potential, says former NY governor
April 12, 2010
NEW YORK - Turkey possesses a significant potential in the renewable energy sector, according to George Pataki, former New York governor.
There are plans to invest $80 billion for electricity generation within the next 10 years in Turkey, said Pataki, who currently serves as consultant at Chadbourne & Parke, an international law firm.
“As Turkey’s population grows, its economy is also expanding and it is securing a more important place among countries. However, within this scope, electricity generation is among Turkey’s top problems,” he said in a recent interview with Anatolia news agency at the firm’s headquarters at Rockfeller Plaza in New York.
Pataki was the moderator of a meeting last week on Turkey’s energy and renewables sector held by the American-Turkish Society and sponsored by Chadbourne & Parke.
Commenting on Turkey’s solar, wind and geothermal energy resources, Pataki said, “I know that Western companies operating in the wind and solar energy sectors are highly keen on renewable energy opportunities in Turkey.”
Pataki drew attention to similarities in the energy sectors of the United States and Turkey. Turkey receives 70 percent of its energy from abroad and is dependent on Russia and Iran, especially for natural gas; the U.S., meanwhile, obtains roughly 60 percent of its oil from external resources, he said.
“In this respect, I regard renewable energy as a great opportunity also in terms of the economic, environmental and national security fields,” he said.
Not only Turkey, but also the U.S. and Central Europe have concerns regarding dependency on Russian natural gas, Pataki said.
“Turkey ranks second in terms of Europe’s best solar energy resource. It has incredibly strong wind resource and geothermal energy opportunities on the Aegean and Mediterranean coasts. Moreover, the government has announced that it will take action for hydropower projects,” he said.
“All these will help Turkey become more adaptable with its surroundings, grow its economy and become less dependent on foreign energy resources,” he said.
The preparations on a renewable energy law are ongoing in Turkey, Pataki said, who urged the adoption of incentives to attract investors to the sector. Pataki also said Turkey may become an important solar panel manufacturer.
Pataki’s practice focuses on energy, environmental and corporate matters. Prior to joining Chadbourne & Parke, he served three terms as the 53rd governor of New York from 1995 until 2006.
Turkish Trade Commissioners based in Americas convened in Ankara
April 7-8, 2010
ANKARA - Zafer Caglayan, Minister of State in charge of Foreign Trade, held a meeting with Turkish Commercial Counselors and Attaches, who serve their tenures in North and South America at an assembly meeting in Ankara on April 7-8, 2010 at the headquarters of Undersecretariat of the Prime Ministry for Foreign Trade.
The assembly, which was organized to collect first-hand information from the Commercial Counselors and Attaches including their observations, recommendations as well as the latest developments within the regions they cover, was also closely followed by the representatives of NGO’s such as Turkish Exporters’ Assembly, Union of Chambers and Commodity Exchanges of Turkey, the Independent Industrialists and Businessmen's Association and Turkish Confederation of Businessmen and Industrialists.
During his address at the assembly, H.E. Caglayan portrayed Commercial Counselors and Attaches, as “frontier men and women” who are crucial to the success of Turkey’s export policies and expressed that these meetings will be more common in the near future.
Subsequently at the meeting, export performances of Turkish companies and products were reviewed and opportunities for Turkish exporters identified by addressing potential sectors in different regions. In addition, the “Model Partnership” initiative between Turkey and U.S. was discussed in detail. The assembly of Commercial Counselors and Attaches who are serving in America continent is considered a sign of Turkey’s increasing export interest in the region.Energy Efficiency Conference to be held in Istanbul
June 3-4, 2010
ISTANBUL - Energy Efficiency Conference called “Energy Efficiency: The Shortest Route to a Stronger Future, Southeast Europe and the Caucasus” organized by US Department of Energy and American Turkish Council, co-hosted by Foreign Economic Relations Board (DEIK) and Turkish-American Business Council (TAIK) will take place at Hilton Istanbul on June 3-4, 2010.
This comprehensive, two-day conference with a select group of speakers varying from top government officials to top business executives in the sector, the conference will convene technology experts, business leaders, as well as US, EU, and regional government officials from countries including Azerbaijan, Bulgaria, Georgia, Greece, Romania and Turkey. It will highlight the most effective ways for businesses and governments to reduce costly energy consumption. This conference will provide practical guidance and identify innovative technologies that will help build stronger economies and businesses through energy efficiency.