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REPUBLIC OF TURKEY UNDERSECRETARIAT FOR FOREIGN TRADE. ECONOMIC OUTLOOK OF TURKISH ECONOMY AND TRADE & INVESTMENT RELATIONS BETWEEN TURKEY AND EGYPT. Alexandria, 14 October 2008. EGYPT. WWW.COUNSELLORS.GOV.TR. TURKEY ON THE CROSSROADS OF CONTINENTS.

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REPUBLIC OF TURKEY

UNDERSECRETARIAT FOR FOREIGN TRADE

ECONOMIC OUTLOOK OF TURKISH ECONOMY

AND

TRADE & INVESTMENT RELATIONS BETWEEN

TURKEY AND EGYPT

Alexandria, 14 October 2008

EGYPT

WWW.COUNSELLORS.GOV.TR


Turkey on the crossroads of continents

TURKEY ON THE CROSSROADS OF CONTINENTS

  • Geographical Area :774,576 km2

  • Population : 72 Million

  • GDP (2007) : 659 Billion US $

  • GDP per capita (PPP) (2007) : 9,333 US $

  • Trade Volume (2007) : 277 Billion US $



GROSS DOMESTIC PRODUCT (GDP)

(Billion US$)

GDP Growth 5,3% 9,4% 8,4% 6,9% 4,5%

Economic growth has been robust and registered around 6,6% on average during the last three years. GDP per capita (PPP) reached to 9,333 US $

Turkey has become 6th biggest economy in Europe and 17th biggest economy in the world.

According to OECD, Turkey is the 13th most industrialized country in the world.


Sectoral breakdown of gdp in 2007
SECTORAL BREAKDOWN OF GDP in 2007

In 2007, services constitutes the main part with approximately 70% and followed by Industry and Agriculture.


Sectoral breakdown of employment 2007
SECTORAL BREAKDOWN OF EMPLOYMENT (2007)

in 2007, majority of the workforce was employed in the services sector by 55%

1


INTEREST RATES ARE DIMINISHING

Since 2002 interest rates in Turkey have been decreasing despite the minor increasesin 2007 and 2008


INFLATION IS IN A DECREASING TREND

In 2007 CPI (Consumer Price Index) was 8,4.


CURRENT ACCOUNT BALANCE OF TURKEY (million US $)

current account deficit of38 billion US$ in 2007

The current account deficit stems mainly from the one in foreign trade deficit.

The current account deficit is covered by tight fiscal policy and foreign investment in Turkey.


FOREIGN DIRECT INVESTMENT IN TURKEY (Billion US $)

While the FDI inflows to Turkey on a yearly average basis were about 1.1 billion dollars between the 1993-2002 period, this figure increased to 9.7 billion in 2005, 20 billion in 2006, and 22 billions in 2007.

1



Fdi to turkey by country groups in 200 7
FDI TO TURKEY BY COUNTRY GROUPS IN 2007

FDI in Turkey in 2007: 22 billion US$

EU countries are by far the largest investor in Turkey.

1


ADVANTAGES OF INVESTING IN TURKEY

  • Liberalized Market

  • Domestic Market of over 70 Million People

  • Proximity to the Huge Markets

  • High-skilled, Competitive Labor

  • Low Labor Cost

  • Strong Ties With Caucasia and Central Asia

  • The Gateway of Energy Resources

  • Guarantee of Transfers

  • National Treatment

  • Reliable Investment Environment

1


Turkey s foreign direct investment abroad million
TURKEY’S FOREIGN DIRECT INVESTMENT ABROAD (Million $)

Total (Cumulative) : 10,3 Billion $

1


PRIVATIZATION IN TURKEY

  • Sugar Companies

  • Turkish Airlines

  • Some major Ports

    - İzmir Port - İskenderun Port

  • Turkish Institution of Electric Distribution (TEDAŞ)

  • Halkbank

1


PRIVATIZATION REVENUES

(Billion Dollars)

In 2006 privatizations revenues reached a historical level of 9,5 billion US$.

1


Visitors

2004 : 17,5 million

2007 : 23,3 million

2010 Target: 30 million

Bed Capacity

1984 : 65.000

2006 : 800.000

2010 Target : Above 1 million

TOURISM IN TURKEY

1


TOURISM REVENUES IN TURKEY

(Billion US$)

Turkey aims to reach 30 billion US $ tourism revenue in 2010

1


Turkey’s Proximity to the Huge Markets

1


Turkey s strategic position in energy sector
TURKEY’S STRATEGIC POSITION IN ENERGY SECTOR

TURKEY IS AN ENERGY CORRIDOR

BETWEEN SUPPLIERS AND CONSUMERS

1


Turkey a major energy transport hub
TURKEY:A Major Energy Transport Hub

NATURAL GAS

A. Existing

  • Russia –Turkey (2 pipelines)

  • Iran-Turkey

    B. Under Construction

  • South Caucasus

  • Turkey-Greece-Italy

    C. Projected

  • Trans-Caspian

  • Nabucco

  • Samsun-Ceyhan-Haifa

  • Iraq-Turkey

OIL

A. Existing

Baku-Tbilisi-Ceyhan (BTC)

Kirkuk (Iraq)-Ceyhan

C. Projected

Kazakh Oil (BTC)

Samsun-Ceyhan

1


TURKISH FREE ZONES

20 free zones operational

3.754 Companies

642 with foreign participation

Trade Volume:

24,5 billion US$

İst.Thrace (1998)

Europe (1999)

Trabzon (1992)

Rize (1998)

TUBITAK-MAM TECHNOLOGY (2002)

İst. Ataturk Airport (1990)

Samsun (1998)

İst. Leather and Industry (1995)

Eastern Anatolia (1995)

Kocaeli (2001)

Aegean (1990)

Bursa (2001)

İzmir Menemen (1998)

Kayseri (1998)

Mardin (1995)

Denizli (2001)

Mersin (1987)

Gaziantep (1999)

Adana –Yum. (1998)

Antalya (1987)

Bulk of the export: to the EU

1


TURKISH FREE ZONES OFFER

  • Incentives

  • Modern infrastructure

  • Minimum bureaucracy

  • Facilitated customs procedures

  • Access to important trade routes

  • Effective management

1


TURKEY’S ROLE AS A TRANSIT AND HUB COUNTRY

Turkey is not only an energy corridor but also an important energy terminal.

Future projects will enhance Turkey’s role in energy.

1


Foreign trade of turkey

FOREIGN TRADE A TRANSIT AND HUB COUNTRYOF TURKEY

1


Development of turkey s foreign trade
DEVELOPMENT OF TURKEY’S FOREIGN TRADE A TRANSIT AND HUB COUNTRY

Today, Turkey is the 22nd biggest exporter and the 15th largest importer of the world.


EXPORTS OF TURKEY A TRANSIT AND HUB COUNTRY

BY COUNTRY GROUPS IN 2007

The EU is the biggest trade partner of Turkey.In 2007, EU-27 accounted for 56 % of total exports of Turkey. The share of EuroMed in Turkey’s export is around 6 %.


IMPORTS OF TURKEY A TRANSIT AND HUB COUNTRY

BY COUNTRY GROUPS IN 2007

The EU is the biggest trade partner of Turkey, in terms of imports. EuroMed has % 3 share in Turkey’s imports.


Exports of turkey by countries 2007
EXPORTS OF TURKEY BY COUNTRIES A TRANSIT AND HUB COUNTRY(2007)

Billion $

In Turkey’s Exports Egypt ranks at the

25th place while Turkey is the 9th country in Egypt’s overall Exports


Imports of turkey by countries 2007
IMPORTS OF TURKEY BY COUNTRIES A TRANSIT AND HUB COUNTRY(2007)

Billion $

In Turkey’s Imports Egypt ranks at the

38 th place while Turkey is the 14 th country in Egypt’s overall Imports


Sectoral breakdown of turkey s ex ports 2007
SECTORAL A TRANSIT AND HUB COUNTRYBREAKDOWN OF TURKEY’S EXPORTS (2007)

Most of Turkish exports are composed of manufactured products, which have accounted for 82 % of the total.


SECTORAL A TRANSIT AND HUB COUNTRYBREAKDOWN OF TURKEY’S IMPORTS (2007)

Manufactured products again has the biggest share in Turkey’s imports with 62%.


TOP 10 CHAPTERS IN TURKEY’S EXPORTS A TRANSIT AND HUB COUNTRY


TOP 10 CHAPTERS IN TURKEY’S IMPORTS A TRANSIT AND HUB COUNTRY

1


TURKEY’S ALIGNMENT WITH THE EU’S PREFERENTIAL REGIMES A TRANSIT AND HUB COUNTRY

Agreements in Force

Agreement Signed

Negotiation Process

1- EFTA (1992)

2- Israel (1997)

3- Macedonia (2000)

4- Croatia (2003)

5- Bosnia (2003)

6- Tunisia (2005)

7- Palestine (2005)

8- Morocco (2006)

9- Syria (2007)

10- Egypt (2007)

11- Albania (2008)

-Georgia (2007)

  • Montenegro (initialled)

  • Chile

  • Faroe Islands

  • - Jordan

  • - Lebanon

  • - Gulf Cooperation Council

Preparatory/ExploratoryStage

EU’s New Strategy: Global Europe

  • - India

  • - S.Korea

  • ASEAN

  • ANDEAN

  • - Central America

  • - Russia

- Ukraine

- Mexico

- S. Africa

- Algeria

- Mercosur

3

1


Trade A TRANSIT AND HUB COUNTRY& Investmet Relations

between

Turkey and Egypt

1


DEVELOPMENTS OF TURKEY’S FOREIGN TRADE WITH A TRANSIT AND HUB COUNTRYEGYPT (million US $)

1


MAIN IMPORTS OF TURKEY FROM EGYPT A TRANSIT AND HUB COUNTRY

1


MAIN EXPORT ITEMS OF TURKEY TO EGYPT A TRANSIT AND HUB COUNTRY

1


Free trade agreement between turkey egypt

FTA entered into Force on 1 March 2007 A TRANSIT AND HUB COUNTRY

FREE TRADE AGREEMENTBETWEEN TURKEY & EGYPT

Turkey abolished all custom duties on imports applicable to industrial goods originating in Egypt upon the entry into force of this Agreement.

Egypt will gradually abolish custom duties applicable on industrial goods originating in Turkey over a transitional period of up to 15 years .

1


Effects of fta on turkish investments in egypt

Since the signing up of the FTA in 2005, Turkish investments in Egypt have boosted. Recently, Egypt appears as foremost the leading country to attract the Turkish investments.

In early days of 2006, 23 Turkish companies had around 40 Million US Dollars of investment in Egypt. In the last 3 years, we witnessed 190 new companies being established in various cities of Egypt.

Today, more than 190 companies and around 1 billion US Dollars of investment. Turkey has become a major donor of investments in Egypt.

EFFECTS OF FTA ON TURKISH INVESTMENTS IN EGYPT

1


Effects of fta on turkish investments in egypt1

Turkish investors has created 50 thousand new jobs in Egypt since 2005.

150 companies are also carrying out feasibility researches in Egypt and start of their investments in the short term is expected to bring another 1 Billion $ of Turkish invesment.

Activities of Turkish Industrial Zone in 6 October City, 5 Contracting Companies and 28 Retail Shops are not included in these figures.

It should also be mentioned that 80% of the Russian and Ukranian tourists visiting Egypt are transfered through Turkish Operators.

EFFECTS OF FTA ON TURKISH INVESTMENTS IN EGYPT

1



Turkish cement industry
TURKISH CEMENT INDUSTRY since 2005.

Million US$

  • 3rd Producer in Europe

  • 2nd Exporter in the World


Turkey s natural stones
TURKEY’S NATURAL STONES since 2005.

Turkey is among the leadng countries in the field of exporting high quality marbles, deposits where the total exports reached to 1.2 billion $ in 2007

Million US$


TURKISH CERAMIC PRODUCTS since 2005.

Million US$

  • 5thProducer in the World and 3rdExporter inEurope in Ceramic Building Materials


TURKISH TEXTILES INDUSTRY since 2005.

Billion US$

  • 2ndTextiles Supplier in the EU

  • 1st Home Textiles Exporter in the World

  • 6th largest synthetics capacity in the world


TURKISH CLOTHING INDUSTRY since 2005.

Billion US$

  • 1st in Exports of Clothing Industry in the EUand 4th in the World

  • 1st in Sock Production and Exports in the World

  • Use High Technology in Clothing


Turkish furniture industry
TURKISH FURNITURE INDUSTRY since 2005.

Million US$

Although highly fragmanted among a large number of small workshops, wooden furniture and metal office furniture exports reached to 1.5 billion $


TURKISH LEATHER ARTICLES INDUSTRY since 2005.

Million US$

4th in Exports of Leather Garments in the World and 2nd in Europe


TURKISH AUTOMOTIVE AND SPARE PARTS INDUSTRY-1 since 2005.

Billion US$

  • 16th Leading Production Base in the World (in 2007)

  • 11th in the European Exports


TURKISH AUTOMOTIVE AND SPARE PARTS INDUSTRY-2 since 2005.

  • Annual Production Capacity: 1,06 million vehicles

  • Auto-parts production: 5 billion dollars

  • 5th in the World and 2nd in Europe on Exports of Mass Transit Vehicles


TURKISH SHIPBUILDING INDUSTRY since 2005.

Million US$

  • 2nd Tanker Exporter in Europe & 9thExporter in The World

  • Turkey is known with Production of Luxury Yachts


TURKISH GLASS AND GLASSWARE INDUSTRY since 2005.

Million US$

  • 5th in Flat Glass Exports & 4th in Glassware Exports in Europe


TURKISH JEWELLERY INDUSTRY since 2005. (Including precious metals and stones)

Million US$

  • One of the Top 5Jewellery Producers In The World

  • Gold Exchange since 1996 and Gold Rafinery since 2001


TURKISH IRON AND STEEL INDUSTRY since 2005.

Billion US$

  • Produces Flat Products essential for the Machinery, Automotive, Shipbuilding

  • One of the Major Producers of Steel Bars and Rods in the World


TURKISH MACHINERY INDUSTRY since 2005.

Billion US$

Turkey produces High European Quality Machinery both for Consumer and Industrial Market, including CNC Machine Tools to much reasonable prices.

In 2007, the exports of machinery sector reached to 9 billion US Dollars


TURKISH ELECTRICAL EQUIPMENTS AND since 2005.

ELECTRONICS

Billion US$

  • Turkish Television Industry- 15th Exporterin the World

  • Turkish Home Appliances Industry- 4th in the Exports of Europe


Turkish chemical industry
TURKISH CHEMICAL INDUSTRY since 2005.

Billion US$

  • Production: 11 billion US $

  • Petrochemicals, inorganic and organic chemicals, fetrilizers, paints, pharmaceuticals, soaps and detergents, synthetic fibers, essential oils, cosmetics and personal care products



AGRICULTURE since 2005.

  • The World Leader in Production and Exports of;

HAZELNUTS

APRICOTS

FIGS

  • CITRUS FRUIT;

  • 9TH PRODUCER IN THE WORLD

  • 3RD PRODUCER IN EUROPE

  • CHERRY;

  • 1ST PRODUCER IN THE WORLD

  • 6th Olive Oil Producer in the World

  • 4th Olive Oil Exporter in the World

1


AGROINDUSTRY since 2005.

  • High-Tech Food Processing Industry

  • Production According to the European Union and World Standards

  • In Pasta Production Turkey ranks 5th in the World

  • In Tomato Paste Production Turkey ranks 4th in

    the World

1



TURKISH CONTRACTING SERVICES since 2005.

  • Turkish Contracting sector has a outstanding role worldwide as it is ranks at the third place after the USA and China.

  • Turkish Contractors have undertaken 4.200 projects in 69 countries between 1972 and 2007.

  • Total volume of contracts has reached over

    105 billion US $.


Volume of contracting services billion us
VOLUME OF CONTRACTING SERVICES since 2005. (Billion US$)

The volume of the contracting services of Turkish companies reached to 19,4 US dollars in 2007.


Regional breakdown of contracting services 2007
REGIONAL BREAKDOWN since 2005. OF CONTRACTING SERVICES (2007)


COUNTRY BREAKDOWN since 2005.

OF CONTRACTING SERVICES (2007)

Country Million US $ Share

Libya4.92425%

Russia 3.605 19%

Qatar1.899 10%

Turkmenistan1.5948%

Kazakhistan 1.0916%

Jordan 9955%

Saudi Arabia 9825%

Azerbaijan 8494%

Romania 5923%

Ireland 550 3%

Other 2.410 12%

Total 19.495 100%


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