The Turkish Trade Missions in the U.S. have great pleasure in introducing the first edition of our monthly e-letter, bringing you noteworthy news on Turkish and American business ventures, potential trade and investment opportunities, promising Turkish companies and leading industries. The focus of this edition is the Turkish machinery industry and leading companies within this sector. In order to enhance Turkish and American economic, trade, and investment ties, our offices are equipped to help both business communities execute more business transactions, forge strategic partnerships, and form industry alliances.
Turkey offers vast trade and investment opportunities for American companies with its dynamic economic structure, first-rate manufacturing capabilities, agile firm profile, and well-educated human resources. This newsletter is designed to connect you to business opportunities in Turkey. We look forward to assisting Turkish and American companies to achieve their business endeavors. Please click on the links below to learn more.
Trade delegations to visit American states to boost Turkish exports
Undersecretary of the Prime Ministry for Foreign Trade Tuncer Kayalar has said that several US states have been selected as targets for a program to boost Turkish trade with the United States. Trade delegations will be sent to New York, California, Texas, Georgia, Illinois and Florida.
Speaking to the Anatolia news agency concerning commercial relations between Turkey and the US, Kayalar noted that the US consists of numerous markets within individual states. Each states unique economic, social and legal conditions must be taken into consideration. He explained that under the Foreign Trade Undersecretariats strategy for improving trade and investment with the US, implemented in 2006, a state-based and sector-oriented approach has been adopted for improving exports to the US. Within this strategy, he added, New York, California, Texas, Georgia, Illinois and Florida have now been selected as target states after taking into consideration the size of their markets and their roles in foreign trade.
Kayalar further indicated that market research was conducted to identify the target sectors of textiles and ready-wear apparel, food, chemical products, non-iron metals, leather and leather products, electronic goods, machinery, automotive supply, processed natural stones, ceramic goods, furniture and jewelry. He added that they are currently planning new activities aimed at these target markets. The foreign trade undersecretary said that in order to promote their strategies to Turkish organizations operating in the US and secure their support, they met with Turkish associations and diplomats in New York, Chicago, Los Angeles and other US cities and developed models for cooperation.
Promotion campaign
Kayalar said the launching of a promotion campaign was one of the most important elements of their strategy. Initial steps will largely be aimed at reinforcing the image of Turkey and Turkish goods. For instance, during the activities to be conducted under the Turquality project and also during the work by hazelnut, leather and ceramic promotion groups, the aim is to reinforce the image of Turkish goods and emphasize their quality. There will also be short-term activities directly promoting Turkish companies to distribution channels.
"In 2007, in addition to our commercial representation offices in New York and Washington, we opened new offices in Chicago and Los Angeles, thereby boosting the services we provide to our companies in the US," Kayalar added.
"We sent trade and boutique trade delegations to the US and made sure that these delegations attended many conferences, including a conference organized by the Foreign Economic Relations Board's [DEİK] Turkish-American Business Council [TAİK] and the American-Turkish Council [ATC]. As part of the traditional Turkish-US days organized by the Federation of Turkish-American Associations [FTAA] in New York in late May every year, we organized seminars to inform participants about Turkish export sectors, Turkish free-trade zones and investment opportunities in Turkey," he said. Undersecretary Kayalar said that following the visit made last year and talks with state officials and business circles in Florida they paid a visit to Atlanta, Georgia, where they met with the Turkish and US businessmen doing business there.
Activities planned for 2009
Kayalar said that for 2009 they plan to send sector-based boutique trade
delegations, consisting of 20-25 members to target states to actively
participate in prominent fairs and exhibitions, improve cooperation among
private sector companies and diversify joint projects, particularly in
engineering. "Bearing in mind that patience is needed in order to reap the
rewards of investments in the US market, we will continue to work for improving
trade with the US in coming years," he said.
Business Opportunities in Turkey discussed at Go Global Conference
The Rockford Area Economic Development Council organized a two day conference, Go Global II, on April 8-9, 2009 in Rockford, IL, to encourage local small and medium sized companies to do business overseas. The conference brought together experts in the field of international trade and investment to provide updates in the industry. Commercial Attaché Suleyman Sozeri from the Consulate General of Turkey in Chicago spoke about the Turkish economy and opportunities for American companies doing business there.
Activities planned for 2009
Kayalar said that for 2009 they plan to send sector-based boutique trade
delegations, consisting of 20-25 members to target states to actively
participate in prominent fairs and exhibitions, improve cooperation among
private sector companies and diversify joint projects, particularly in
engineering. "Bearing in mind that patience is needed in order to reap the
rewards of investments in the US market, we will continue to work for improving
trade with the US in coming years," he said.
Business Opportunities in Turkey discussed at Go Global Conference
The Rockford Area Economic Development Council organized a two day conference, Go Global II, on April 8-9, 2009 in Rockford, IL, to encourage local small and medium sized companies to do business overseas. The conference brought together experts in the field of international trade and investment to provide updates in the industry. Commercial Attaché Suleyman Sozeri from the Consulate General of Turkey in Chicago spoke about the Turkish economy and opportunities for American companies doing business in Turkey.
As Mr. Sozeri explained, numerous government reforms over the past six years have increased Turkeys economic growth establishing itself as the 15th largest economy in the world and 6th in the EU. Having the largest young population in Europe, Turkey provides companies with a large market ready to adopt new products and technologies and well-educated talent pool to be deployed. The automotive, home appliance and jewelry industries in Turkey are establishing themselves as industry leaders. Considering trade between the Turkey and the EU was $155 billion in 2008 compared to $15 billion between Turkey and the US, trade between Turkey and the US has yet to reach its potential. Many opportunities exist between the two countries as Turkey is largely untapped by US companies as a market for international trade and investment.
Medical Tourism in Turkey - Midwest organized a conference on "Medical Tourism in Turkey" on April 16, 2009 in Chicago. The conference was the first in the US to introduce and promote Turkey as a medical tourism destination. Expert panelists and health industry representatives from both Turkey and the US reported on current medical tourism related trends and issues.
Medical tourism is a rapidly increasing industry in which Americans and Europeans travel abroad to receive top quality healthcare at considerably low costs while also experiencing tourism opportunities. Turkey has potential to Turkish Airlines and the Turkish American Chamber of Commerce & Industry organized a reception on behalf of the participants. Commercial Attaché Suleyman Sozeri gave a speech at the reception.
ATTENDEES
Turkish Companies in All Candy Expo
Two well-known Turkish candy companies, Durukan and Hleks Gida Sanayi ve Ticaret A.S., attended the All Candy Expo on May 19-21, 2009 in Chicago to showcase their new product portfolio. Turkey is well known for its confectionary industry and is the leading exporter in the region. Durukan is a major player in lollipop production in the region with its decades of experience, high quality and lollipop variety. Hleks Gida Sanayi ve Ticaret A.S. produces many types of patented popping candy used in food products worldwide.
"Doing Business in Turkey" presented at BNC International
Business Network Chicago (BNC) International hosted Suleyman Sozeri, Commercial Attaché at the Consulate General of Turkey on May 14. Mr. Sozeri made a presentation about US-Turkey relations and new products emerging in trade between the two countries. In his presentation, he stated that Turkeys emerging exports to the US include iron and steel products, agricultural machinery equipment, plastic materials, and chemicals.
He mentioned that the current economic crisis has led to contraction of demand in the US and world and companies are exploring new markets and partnership possibilities. In order to facilitate opportunities between Turkish and Midwest companies, the Office of Commercial Attaché was opened in Chicago in 2007. Among its services, this office is a resource for Midwest companies interested in exporting to or importing from Turkey, outsourcing products, building strategic alliances, and establishing regional headquarters in Turkey.
TACCI-MCC Hosts Renewable Energy Conference
The Turkish American Chamber of Commerce & Industry and the Manhattan Chamber of Commerce successfully hosted the Renewable Energy Conference Event May 20 at the Levin Institute in New York City.
Ms. Nancy Ploeger, the president of the Manhattan Chamber, started the conference by introducing the chambers and informing the attendees of the partnership between TACCI and MCC for this event. Ms. Sevil Ozisik delivered a speech, thanking all attendees and companies for joining the chambers at this conference. Ms. Sevil Ozisik then introduced the Hon. Counsel Ms. Pinar Senturk Sevi from the Turkish Consulate General in New York, who gave specific information about the importance and improvements of renewable Ms. Nancy Ploeger, the president of the Manhattan Chamber, started the conference by introducing the chambers and informing the attendees of the partnership between TACCI and MCC for this event. Ms. Sevil Ozisik delivered a speech, thanking all attendees and companies for joining the chambers at this conference. Ms. Sevil Ozisik then introduced the Hon. Counsel Ms. Pinar Senturk Sevi from the Turkish Consulate General in New York, who gave specific information about the importance and improvements of renewable energy in Turkey.
Ms. Ploeger introduced Ms. Gunduz from the MCC, who remained as the MC for the rest of the conference. Ms. Gunduz gave the floor to Mr. Brett Weinberg from AMEX, who spoke of potential foreign exchange trading opportunities between the United States and Turkey.
US Representative from the Turkish Union of Chambers and Commodity Exchanges, Ms. Duden Yegenoglu, gave information about the companies that make up the core of the Union and green energy opportunities in Turkey.
The other speakers were from Orrizonte Development, Con Edison, Rubicon Cleantech, AWSTruewind and Proje Enerji From Turkey.
Turkish Companies attend National Restaurant Association Show
Four Turkish companies attended the National Restaurant Association Show Association Show on May 16-19, 2009 in Chicago to exhibit their new products. Gural Porselen, a global leading producer of porcelain, displayed its beautiful, hand painted porcelain products. Ugur Sogutma Makinalari, the biggest cooling group in Turkey, displayed its commercial deep freezers, coolers, and ice machines. Another company in attendance was Keskinoglu Group. Keskinoglu Group promoted their extra virgin olive oil to the US market. Sem Plastik, a leading Turkish exporter in the plastic disposable product and travel service equipment, offered their products as well.
Turkish Day Parade
NEW YORK - The 28th annual Turkish Day Parade was held in New York on May 23, 2009. Many Turkish schools, organizations and companies showed off their floats at the celebration while attendees enjoyed performances from Turkish musicians and folk dance groups. The parade lasted three hours and was organized by the Federation of Turkish American Associations (TADF).
Ford Otosan to start exports to US
Ford Otosan, a joint venture between US automotive giant Ford and Turkey's largest industrial conglomerate, Koç Holding, has begun to export light trucks to the US. Ford Otosan managed to hold on to an 8.6% market share in 16 European countries at the end of 2008, while they sold some 77,000 cars and had a 14.7% market share in Turkey.
Ford has never before exported cars to its home country from a Ford factory in Europe, and Turkey will be first European country to export Ford cars to the "homeland." The company plans to begin exporting Ford Transit Connect vans produced at its Kocaeli plant to the US, as well as to Canada. The exports were launched on May 22, with a ceremony in which Prime Minister Recep Tayyip Erdoğan participated.
Ford Otosan
introduced the Transit Connect vans at the North American International Auto
Show in January. The Transit is intended to be a more maneuverable and efficient
alternative to the E-series full-size vans targeted primarily at commercial
customers. American buyers of the Transit Connect will have one conventional
power-train option, a 2.0L four cylinder Duratec gas engine paired up with a
four-speed automatic transmission. Ford has also confirmed that the Transit
Connect will be the basis of its new electric van to be offered starting in
2010.
In addition, the EPA just published fuel economy estimates for the
Ford Transit Connect. The numbers look impressive; even more so than Fords
original estimate: 22 mpg in the city and 25 mpg on the highway. As always, EPA
fuel economy numbers are for comparison only. The Transit Connect is a more
efficient choice for small business owners and contractors than full-sized vans.
The four-cylinder Transit Connect is somewhat smaller inside, but it is almost
50% more efficient. For comparison purposes, the EPA rates full-sized Ford
E-Series at 13/17 mpg city/highway. The Chevrolet and GMC vans are rated at
14/18, city/highway with a V8 engine, and 15/20 with a V6.
The American
Turkish Society Fourth Annual Gala Dinner
Honoring Muhtar Kent and Tuncay Özilhan
The American Turkish Society awarded its Annual Corporate Partnership Award to Muhtar Kent, President and CEO of The Coca-Cola Company and Tuncay Özilhan, Chairman and CEO of Anadolu Group at its 2009 Gala Dinner on May 28, 2009 in New York. Madeleine K. Albright, Former U.S. Secretary of State and Principal, The Albright Group LLC and Rahmi M. Koç, Honorary Chairman, Koç Holding A.S. served as dinner committee co-chairs at the event.
The gala dinner celebrated the partnership of The Coca-Cola Company and Anadolu Group, anchored in Coca-Cola Icecek and based on shared values, sound business management, and a deep commitment to sustainable growth. The evening also commemorated The American Turkish Society's 60th anniversary and long-standing U.S.-Turkish relations. The annual gala dinner celebrates the successful partnerships of American and Turkish corporations and honors outstanding business leaders.
Chicago Turkish Festival
The 7th Annual Chicago Turkish Festival took place May 27-30 in Daley Plaza to offer visitors the opportunity to experience Turkish culture and heritage in Chicago. Daily live performances featured Turkish classical and folk music, Turkish dancers, Whirling Dervishes, the Ottoman Military Marching Band, and a traditional fashion show. Visitors browsed over 40 booths to sample Turkish cuisine and coffee, watch artistic demonstrations, find travel information, and shop for Turkish handicrafts, jewelry and souvenirs.
Ankara Olgunlasma Institute displays new collection in New York
On May 26,
2009, the prestigious Ankara Olgunlasma Institute showcased an extravagant
women's collection of hand-embroidered garments in New York. The unique show
brought 20 of the most promising Turkish designers and elite models from around
the world together on the runway. The young designers featured in the show were
chosen from hundreds of applicants who applied to study at the Ankara Olgunlasma
Institute. Many of the designers were showcasing their work outside of Turkey
for the first time.
A collection of more than 60 designs featured clothing inspired by the glory of
the Ottoman Empire at its peak during the 15th and 16th centuries when fashion
was a sign of wealth and a woman's status in society. The show also portrayed
the evolution of clothing and Turkish social life from the founding of the
Republic in 1923 to the present day.
Evening attire featured traditional Turkish motifs and hand embroidery unique to the country. Many of the designs were inspired by the colorful regional dress of Anatolia (the Western and Central portions of Turkey between the Black and Mediterranean Seas) where clothing is still created by hand looms combining light fabrics with heavy silks featuring complex needlework. The entire collection epitomized the vibrant culture of Turkey and its unique civilization.
2,000 importers from 115 countries to gather in Istanbul
One of the largest business summits of the world will be held on June 2-5 in Istanbul World Trade Center. Within this scope, 2,139 importers from 115 countries will visit Turkey during the 'World Trade Bridge' to be held by the Confederation of Industrialists and Businessmen of Turkey (TUSKON) under the coordination of the Undersecretariat of Foreign Trade (DTM).
120,000 bilateral talks will take place. Rizanur Meral, Chairman of TUSKON, said this event would allow for a USD 7 billion worth of trade activities in Istanbul, while Alpaslan Korkmaz, President of the Investment Support and Promotion Agency of Turkey (ISPAT), will deliver a speech to promote investment opportunities in Turkey.
Nabuccos 3,300
kilometer route is on the drawing board
Sabah Milliyet - Following the compromises made during the summit in Prague,
technical planning has now begun on the 3,300-kilometer pipeline, which will
span from the Hazar region to Europe.
The Nabucco project, which involves an alternative natural gas pipeline, which will provide Gas from Azerbaijan, Hazar and other regions in Central Asia, through Turkey, Bulgaria, Romania and Hungary to Austria, has now gained speed. Northern Iraq was also added to the gas supplying regions for Nabucco, which is largely regarded as Europes attempt to by-pass Russia and diversify its energy supplies.
If the agreement is signed between nations as anticipated on June 25th, then it is expected that the construction of the pipeline, with an anticipated cost of 7.9 billion Euros will begin in 2011 and the first gas will be pumped through the pipeline in 2014. The total length of the pipeline is expected to be 3,282 kilometers, 998 kilometers of which will pass through Turkey.
Turkeys renewable energy potential draws US funds
Hurriyet - Already active in the teeth and mouth care industry, US private equity Global Environment Fund (GEF) is now eyeing the countrys growing alternative energy sector. Having entered Turkey by acquiring Dentistanbul, a private hospital specializing in teeth and mouth care in 2007, GEF now aims to widen its investments in renewable and alternative means of energy.
Managing a total of USD 1 billion worth of funds globally, GEFs Associate Director Scott MacLeod said "We will go on investing in Dentistanbul and open five new teeth care clinics annually". Macleod added that they were also observing investment opportunities in alternative energy and environmental areas and may announce an investment in the aforementioned in 2009.
Turkey's TAV JV wins USD 1.2 billion Muscat airport deal
Reuters - A joint venture of Turkey's TAV Construction and Athens-based Consolidated Contractors Co (CCC) has won an OMR 450 million (USD 1.17 billion) contract to expand the main airport in Muscat, Oman, said an executive on Tuesday.
"We've won the contract as a joint venture with TAV (Turkey)," Zahi Saba, senior proposal leader at CCC in Muscat, told Reuters. "The contract should be announced by the client within the next few weeks and work should start thereafter."
Other firms prequalified for the contract included France's Vinci, India's Larsen & Toubro and local contractor Galfar Engineering GECS.OM.
AA- A US defense industry firm will invest in Turkey, a Turkish company said on Sunday. US military combat and information system company "Harris Corporation" agreed with Atel Telekomunikasyon, a Turkish communication and defense system producer, to manufacture some products to be sold in Turkey and the Middle East, said Atel Telekomunikasyon's Manager. "We will make joint production with Harris Corporation in Turkey," Guntekin Guntay, the Marketing Manager of the Atel Telekomunikasyon, told AA correspondent.
Guntay said that the production facilities will be established with a USD 2 million investment initially and the factory will produce 50 percent of Falcom Watch sensor systems in Turkey. "With this production facility in Turkey, we aim to meet military communication needs of the Turkish Armed Forces and the Middle Eastern countries," he said.
Atel
Telekomunikasyon was established in the Turkish capital of Ankara in 1997 and
has 36 branches throughout Turkey.
Meanwhile, the Harris Corporation, which is based in Florida, USA, is an
international communications and information technology company serving the
government and commercial markets in more than 150 countries. The company has
annual revenues of USD 5.4 billion USD and 16,000 employees including nearly
7,000 engineers and scientists.
Lockheed Martin signs agreement on F-35 program with Turkish companies
AA - Lockheed Martin, the multinational aerospace manufacturer and advanced technology company, signed an agreement on Tuesday with Turkey's aviation companies on F-35 Lightning II fighter aircraft program's production, sustainment and follow-on development.
Lockheed Martin signed the agreement with Turkey's ALP Aviation, ASELSAN and Kale Aviation within the scope of the 9th International Defense Industry Fair (IDEF'09) in Istanbul.
Tom Burbage, Vice President of Lockheed Martin and General Manager of F-35 Program, delivered a speech at the signing ceremony and said the Turkish defense industry will be one of the most important service providers of F-35 program and that Turkey has an extraordinary industrial power. Murat Bayar, Turkeys Undersecretary for Defense Industry, said this project will make will make great contributions to the Turkish defense industry.
The F-35 program is a multinational effort to build an affordable, multi-role, 5th generation, supersonic, stealth fighter. The F-35 is designed to replace a wide range of aircraft, including F/A-18s, F-16s, A-10s and Harriers.
The 28th Annual Conference on U.S.-Turkish Relations
The 28th Annual Conference on U.S.-Turkish Relations, organized by the American-Turkish Council and the Turkish U.S. Business Council of DEIK, will take place May 31- June 3, 2009 in Washington, DC. Leaders from Turkey and the U.S. will participate in this years conference on "U.S.-Turkey: Overcoming Challenges in an Era of Change."
The conference is a forum for government and military officials, leaders of commerce and academia to discuss the issues and opportunities that tie the U.S. and Turkey. Participants will discuss the expansion of joint-business opportunities for corporations in the US and Turkey, bilateral trade, the global recession and national recovery, and developments in science, technology and research.
Key speakers from Turkey include Minister of Foreign Affairs, Dr. Ahmet Davutoğlu; Minister of National Defense, Vecdi Gönül; Minister of Transportation, Binali Yıldırım; The Chief of the Turkish General Staff, General İlker Başbuğ; the Undersecretary for Defense Industries, Murad Bayar; Acting President of TUBİTAK, Dr. Nüket Yetiş; General Manager of BOTAŞ, Hüseyin Saltuk Düzyol; Former Governor of the Central Bank, Süreyya Serdengeçti; Chairman, İstanbul Chamber of Commerce, Murat Yalçıntaş; and Chairman of the Board, Doğuş Holding, Ferit Şahenk.
Porsche and Jaguar to use Turkish spare parts
Turkey is continuously boosting its power in the automotive sector. The country, exporting automobiles to more than 100 countries all over the world, also supplies crucial spare parts for many countries. Sarigozlu Hidrolik Makine ve Kalip Sanayi, a company operating in the Aegean province of Manisa, is manufacturing castings for ten big brands, including Porsche and Jaguar.
Mustafa Sarigozoglu, chairman of the company, said, "Turkey is becoming a center of attraction. We are currently manufacturing spare parts and castings for key customers such as Volkswagen, BMW, Fiat, Mercedes-Daimler, Audi, Peugeot and Renault. We also started manufacturing for luxury brands such as Porsche and Jaguar."