Tuesday, March 22, 2011
ISTANBUL - Hürriyet Daily News
Heightened fears of instability in the region are forcing international companies to assess Turkey’s opportunities with a different eye, according to the British Chamber of Commerce and real estate broker Jones Lang LaSalle. Speaking to the Hürriyet Daily News, top UK businessman Jonathan Beard says he sees ‘far more interest from foreign companies toward Turkey than there has ever been before’
 A Bahraini man watches from a highway overpass as thousands of anti-government protesters march on March 15, 2011, through the financial district to the Saudi embassy in Manama, Bahrain. The spreading riots in the Middle East and armed conflict in North Africa is forcing a rethink of political stability's role in investments. AP photo |
The search for political stability in the Middle East and North Africa is orienting global companies toward Turkey, according to officials from the British Chamber of Commerce and executives of Jones Lang LaSalle, the U.S.-based real estate agent.
“The more the countries in North Africa and Middle East become insecure, [the more] Turkey attracts foreign firms looking for security,” said Jonathan Beard, chairman of the British Chamber of Commerce, as he spoke to the Hürriyet Daily News & Economic Review on the sidelines of a conference Tuesday.
“We are completely sure that everything here points in a positive direction if we compare Turkey with others in the region,” Beard said, adding that the chamber has been encouraging British firms to invest in Turkey and cooperate with Turkish companies to benefit from the vast opportunities in the region.
Speaking about the rising tension in the region, Beard said there is “far more interest from foreign companies toward Turkey than there has ever been before.”
Responding to a question on Turkey’s rising trade ties with countries of the Middle East and Northern Africa, the chairman said London is “giving top priority” to cooperating with Turkish small and medium enterprises, or SMEs – a cooperation that could result in British companies opening up to the rapidly growing region.
Trade delegations to Turkish cities
The British Chamber of Commerce has sent a delegation to the central province of Kayseri and the southern-southeastern provinces of Adana, Gaziantep, Diyarbakır and Şanlıurfa recently to hold to meetings with Turkish SMEs.
Asaf Mehmet Beyoğlu, the deputy president of the Kayseri Chamber of Commerce, told the Daily News that the delegation indeed visited them last month and that they were mostly interested in the furniture and textile sectors.
“They also invited us to a March 9 meeting in Istanbul with British businessmen,” Beyoğlu said. “They wish to form partnerships with Turkish companies and engage in trade with the region and even Europe.”
“British firms can sell more effectively to neighboring countries [through such cooperation],” Beard said, adding that the chamber has developed a software program to enable Turkish and British SMEs to match with each other.
According to a Financial Times story, cross-border trade between Turkey and northern Iraq exceeded $10 billion by 2009. Cross-border trade between Iran and Turkey was near $1 billion in 2000, but surpassed $10 billion in 2009, according to data from the International Monetary Fund.
“There is growing interest among our clients toward Turkey in the aftermath of the [regional] turmoil,” said Tuğra Günden, associate director of commercial markets at Jones Lang LaSalle Turkey.
Noting that political stability is becoming an increasingly important factor in the decisions of international firms, Günden said Turkey would benefit from its stable position as the turmoil spreads in North Africa and Middle East.
Talking to the Daily News, Günden said some of the company’s clients from Arab countries have started to ask for advice about Turkey – such as Procter & Gamble and Microsoft. Many clients of LaSalle have halted all operations in Libya and now are looking at Turkey, according to Günden.
“Situated right in the middle of London and Dubai, Turkey has already become a hub in many sectors.”
“The more the countries in North Africa and Middle East become insecure, [the more] Turkey attracts foreign firms looking for security,” said Jonathan Beard, chairman of the British Chamber of Commerce, as he spoke to the Hürriyet Daily News & Economic Review on the sidelines of a conference Tuesday.
“We are completely sure that everything here points in a positive direction if we compare Turkey with others in the region,” Beard said, adding that the chamber has been encouraging British firms to invest in Turkey and cooperate with Turkish companies to benefit from the vast opportunities in the region.
Speaking about the rising tension in the region, Beard said there is “far more interest from foreign companies toward Turkey than there has ever been before.”
Responding to a question on Turkey’s rising trade ties with countries of the Middle East and Northern Africa, the chairman said London is “giving top priority” to cooperating with Turkish small and medium enterprises, or SMEs – a cooperation that could result in British companies opening up to the rapidly growing region.
Trade delegations to Turkish cities
The British Chamber of Commerce has sent a delegation to the central province of Kayseri and the southern-southeastern provinces of Adana, Gaziantep, Diyarbakır and Şanlıurfa recently to hold to meetings with Turkish SMEs.
Asaf Mehmet Beyoğlu, the deputy president of the Kayseri Chamber of Commerce, told the Daily News that the delegation indeed visited them last month and that they were mostly interested in the furniture and textile sectors.
“They also invited us to a March 9 meeting in Istanbul with British businessmen,” Beyoğlu said. “They wish to form partnerships with Turkish companies and engage in trade with the region and even Europe.”
“British firms can sell more effectively to neighboring countries [through such cooperation],” Beard said, adding that the chamber has developed a software program to enable Turkish and British SMEs to match with each other.
According to a Financial Times story, cross-border trade between Turkey and northern Iraq exceeded $10 billion by 2009. Cross-border trade between Iran and Turkey was near $1 billion in 2000, but surpassed $10 billion in 2009, according to data from the International Monetary Fund.
“There is growing interest among our clients toward Turkey in the aftermath of the [regional] turmoil,” said Tuğra Günden, associate director of commercial markets at Jones Lang LaSalle Turkey.
Noting that political stability is becoming an increasingly important factor in the decisions of international firms, Günden said Turkey would benefit from its stable position as the turmoil spreads in North Africa and Middle East.
Talking to the Daily News, Günden said some of the company’s clients from Arab countries have started to ask for advice about Turkey – such as Procter & Gamble and Microsoft. Many clients of LaSalle have halted all operations in Libya and now are looking at Turkey, according to Günden.
“Situated right in the middle of London and Dubai, Turkey has already become a hub in many sectors.”
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