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Turkey is coming into its own as a global economic player

Written by Turkey Property Experts Saturday, 07 April 2012 14:23

Commerce John Bryson has praised the economic progress Turkey has made in the past decade, adding that it is certainly not unreasonable to expect Turkey to become one of the 10 largest economies in the world.

Speaking at a lunch jointly organized by the Turkish Confederation of Businessmen and Industrialists (TUSKON) and the progressive think tank Center for American Progress (CAP) in Washington, D.C., on Thursday, Bryson said, “Ankara's goal to push Turkey into the top 10 economies by its centennial in 2023 -- the ‘10 by 23' plan -- is an entirely plausible target.”

Turkey is currently the 16th largest economy of the world with a gross domestic product (GDP) of nearly $800 billion at the end of 2011. Between 2002 and last year, its average rate of economic growth was 5.4 percent. This year the government expects another 4 percent of GDP expansion and aims to sustain a growth rate of 5 percent in the long term. Other than the top 10 economies goal, the country also seeks to bring its export volume up to $500 billion -- it was $135 billion last year -- and to develop its own national car and airplane brands by 2023.

“What is clear is that Turkey is coming into its own as a global economic player. Turkey's time has come. Turkey's moment is now,” Bryson said. The secretary was the keynote speaker at the high-profile event titled “Building on the Progress in Turkish-American Economic Cooperation.” Among the participants of the program were leading Turkish businesspeople, including Boydak Holding CEO Memduh Boydak, apparel-maker Taha Group's General Manager İsmail Hakkı Kısacık and the country's largest steel pipe exporter Erciyas's Chairman Ahmet Kamil Erciyas.

Source: Today's Zaman

Mercedes-Benz use Turkish lira in trade instead Euro

Written by Turkey Property Experts Thursday, 05 April 2012 12:54

Beginning from April 1, the world’s oldest automotive company Mercedes-Benz of Germany switched to the Turkish lira instead of the euro in its transactions with Turkey, in a move that underlines the increasing strength of the Turkish currency and the country’s growing economy.

Mercedes-Benz Turk, the company’s Turkish unit, will import Mercedes-branded automobiles by paying in Turkish lira. The company’s decision also marks the first time usage of Turkish lira in trade between Turkey and the EU’s largest economy, Germany. Turkey signed agreements with Russia, Iraq, Iran and China on using national currencies in bilateral trade.

Mercedes-Benz Turk is the first international company to use the Turkish lira in exchange for imported goods, the company’s Sales Director Suer Sulun said about Mercedes-Benz’s parent group Daimler’s decision. “The Turkish lira is seen as a strong and credible currency in Daimler headquarters. The company affirms its confidence in the consistent stability of the Turkish lira with this one-way decision,” Sulun added.

Source: Hurriyet

Turkey is the popular destination for Russians

Written by Turkey Property Experts Friday, 30 March 2012 10:11

Turkey is drawing far more tourists from Russia than the rest of Europe, a top executive of a Turkish holding active in the tourism sector has said, noting that such trends were especially reflected in the family tourism industry.

“Russian tourists spend the most money. All-inclusive schemes attract 3.5 million Russians to Turkey every year. They spend more than European tourists,” Ayhan Bektaş, the chairman of OTİ Holding, told daily Hürriyet.

Turkey is now way ahead of its rivals in the family holiday concept, having made a continuous stream of investments in the tourism sector over the last 10 years.

“OTİ Holding is active in 26 countries. It is in the top five of the 50 largest Turkish firms that operate abroad. Its activities span a wide range in the tourism sector from ground services to tour operations, travel agencies, hotel management and aviation and to private security services,” he said March 22 at a meeting in Moscow marking the 20th anniversary of OTİ’s foundation. The holding, founded in 1992, consists of 15 companies.

Source: Hurriyet