considering turkey? intéressé par la turquie?€¦ · market reports available online •...
TRANSCRIPT
Considering Turkey?
Intéressé par la Turquie?
Presentation Summary
• Overview of the Turkish Market Economic Highlights, Incentives, Commercial Code, Demographics, Regional Context
• Canadian Trade & Investment in Turkey Past/Current Trends, Firms in the Market, Milestones, Success Stories, Recent Missions
• Key Sectors of Opportunity for Canadian Firms Aerospace, Agriculture, Clean Energy, Construction/PPP, Environment, ICT, Mining
• Getting into the Market Upcoming Events, Market Reports, Business Tips
Overview of the Turkish Market
Economic Highlights
– A G20 Member (world’s 17th largest economy)
– One of the fastest growing economies coming out of the
global economic crisis
– Emerging Markets Category (BRIC + TIMS)
– Strong Banking Sector
Overview of the Turkish Market
Key Economic Indicators
GDP: 8.9% in 2010; 4.4% (e) for 2011
Inflation: 6.5% (end of 2010)
Unemployment: 11.4% (end of 2010)
Capacity Utilisation: 73% (March 2011)
Current Account Deficit: 6.7% of GDP in 2010
Overview of the Turkish Market
New Commercial Code (2012)
– Will make FDI much more attractive.
– Key aspects of the new code include:
• increased transparency, accountability, responsibility
• a requirement for independent audits
• ability to establish a company with one shareholder
• protection of minority shareholder rights
Overview of the Turkish Market
Investment Incentives
– Corporate Income Tax reduced from 30 percent to 20 percent
– Individual Income Tax varies from 15 percent to 35 percent
– Tax benefits and incentives in Technology Development Zones, Industrial Zones and Free Zones could include total or partial exemption from Corporate Income Tax, up to 80 percent grant on employer’s social security share, as well as land allocation.
– New R&D and Innovation Support Law
– Region and sector-based incentive system
Investment Support & Promotion Agency of Turkey
http://www.invest.gov.tr/en-US/Pages/Home.aspx
Overview of the Turkish Market
A large and Growing Domestic Market – 3rd most populous nation in Europe
– Young & educated population
– Growing middle class
Excellent Access to Regional Markets – Customs Union with the EU since 1996, allowing the free movement
of goods to and from the EU
– EU Turkey Accession Talks Since 2005
– A Growing Number of Free Trade Arrangements
– Sophisticated Transportation Infrastructure, including to neighbours
– Centrally located (access to 1.5 billion consumers) …
Source: IMF World Economic Outlook April 2009
EUROPE
GDP – $ 20.5 Trillion Population – 658 million
RUSSIAN FEDERATION
GDP – $ 1,7 Trillion Population - 142 million
MIDDLE EAST AND NORTH AFRICA
GDP – $ 2,6 Trillion Population – 609 million
CENTRAL ASIA & CAUCASUS
GDP – $ 270.3 billion Population – 80 million
Centrally Located
Centrally Located
Number of Countries Covered by Multinational Companies Located in Turkey
Coca Cola 94
GE Healthcare 80
Microsoft 80
Intel 67
Bank of Nova Scotia 40
Schneider Electric 27
Ericsson 22
DHL 20
Volvo 18
BASF 18
PepsiCo 14
Kuehne + Nagel 14
Unilever 11
P&G 11
BSH 11
Canadian Trade & Investment in Turkey
• Growth in Canadian exports before the crisis (increased three fold between 2003/2008 to reach $1.2b)
• Moderating Canadian exports in 2009 and 2010, but still higher than pre-2008
• Geographic context of Turkey’s export importance to Canada
• Impact of Economic Crisis on Canadian Investments
• Growing Canadian Presence in the Market
Canadian Trade Volume
0
200
400
600
800
1000
1200
1400
2004 2005 2006 2007 2008 2009 2010
Year
C $
in
millio
ns Canadian Exports to
Turkey
Turkey Exports to
Canada
Some Canadian Organisations Present in Turkey
Some Canadian Organisations Present in Turkey
Milestones in Bilateral Commercial Relations
2009: THY Direct Istanbul/Toronto Flights
2009: Negotiated Agreement on Avoidance of Double Taxation (expected to be in place in 2012)
2010: Preliminary FTA Negotiations
2010: New Canadian Consulate in Istanbul
2010: New Turkish Consulate General in Toronto
2010: Visit to Canada by Minister of State for Foreign Trade Zafer Çağlayan
2010: Visits to Turkey by Ministers Van Loan & Ritz
Recent Canadian Commercial Successes
2008: Scotiabank Opens Representative Office in Istanbul
2009: Alliance Grain Traders Acquires Arbel Group
2010: Free Breeze Opens Representative Office in Istanbul
2010: Centennial College Opens Recruiting Office in Istanbul
2010: Golder Associates Opens Second Office in Turkey
2010: Alamos Gold Expands Presence in Turkey
Recent Trade Mission Activity
Major Canadian Trade Missions to Turkey
2008: Ontario Delegation to CeBIT Eurasia
2009: CTBC/DEIK Conference
2009: Ontario Delegation to ICCI Clean Energy & Environment Show
2010: Minister Van Loan’s Trade Mission
Major Turkish Trade Missions to Canada
2008: CTBC/DEIK Conference
2010: PDAC Mining Show
2010: CTBC/DEIK Conference featuring Ministers Van Loan &
Çağlayan
Key Sectors of Opportunity for Canadian Firms
Aerospace: Opportunities for aircraft sales/aircraft parts producers; satellite technology
Agriculture: Pulses/oilseeds and food additives, and other products pending resolution of
market access issues (e.g.; beef, cattle, sheep, and goats, GMO products, Canadian cedar)
Construction/PPP: Infrastructure and healthcare
Energy: Clean/renewable, hydro energy generation; transmission equipment & services
Environment: Clean air/water technology, projects in both mining & power sectors
ICT: Mobile Services, M2M (machine-to-machine) applications, and 3G network upgrades
Mining: Equipment & services related to mineral exploration, extraction, ore processing & lab analysis
Major Events & Activities for FY2011/12
Aerospace & Defence
May 11-13, 2011 IDEF International Defence Industry Fair, Istanbul
Agriculture
May 11-13, 2011 SIAL Food Show, Toronto
October 8-12, 2011 ANUGA Trade Show, Cologne (Germany)
Construction/PPP
October 24, 2011 Canadian PPP Seminar, Istanbul
Energy & Environment
May 12-15, 2011 ICCI Clean Energy & Environment Trade Show, Istanbul
ICT
October 6-9, 2011 CeBIT Eurasia Trade Show, Istanbul (ON, QC, EDC, CTBC)
Feb 27-Mar 1, 2011 Mobile World Congress, Barcelona
Mining
March 2-6, 2012 PDAC Convention & Trade Show, Toronto
Market Reports Available Online
• Investment Guide to Turkey
• Environmental Goods & Services
• Renewable Energy
• Mobile & M2M Services
• Mining Equipment & Services
• Pulses and Oilseeds
Tips on Doing Business in Turkey
• Importance of Face-to-Face Meetings
• Selecting a Reliable Local Partner
• Establishing a ‘hub business’ in Turkey
• Promoting Corporate Social Responsibility
• Involving the Trade Section & EDC
Contact Information
Merci / Thank You / Teşekkür ederim
Loc Pham
Second Secretary (Commercial) | Deuxième secrétaire (Commerce)
Embassy of Canada to Turkey / Ambassade du Canada en Turquie
Cinnah Caddesi No:58, Çankaya, 06690, Ankara, Turkey
Tel./Tél: (90-312) 409-2773
Fax/Téléc: (90-312) 409-2715
www.infoexport.gc.ca/tr