Presentation for the Economic Development Committee of the City of Toronto

Size: px

Start display at page:

Download "Presentation for the Economic Development Committee of the City of Toronto"

Virgil Townsend
5 years ago
Views:

1 Presentation for the Economic Development Committee of the City of Toronto Consulate General of the Republic of Turkey June 24, 2014 TORONTO

2 ECONOMIC SUCCESS STORY OF THE STAR AND CRESCENT

3 ECONOMIC SUCCESS STORY OF THE STAR AND CRESCENT World s 17th largest economy, Europe 6th largest economy (2013) Area: 779,000 square kilometers Population (December 2013): 76,667,864 Labour force: million GDP (2013): 1,5 trillion USD (ppp) GDP per capita (2013): 18,000 USD (ppp) GDP growth: % 4.4 (in 2013) Avarage growth rate of 5.2 % btw and % growth rate in 2011 (1st in Europe, 2nd in the world). According to the OECD, Turkey is expected to be the fastest growing economy among the OECD members during and with 5.1% and 4.3% respectively

4 ECONOMIC SUCCESS STORY OF THE STAR AND CRESCENT Inflation: 7.40% (2013) Trade volume/gdp (2013): 49.5% Turkish Official Development Assistance (2013): billion USD Between , 6 million new jobs were created. Agreements for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income with 79 countries. Agreements for Reciprocal Promotion and Protection of Investments with 92 countries Free Trade Agreements with 18 countries and EFTA

5 YOUNG, DYNAMIC, ENTREPRENEURIAL MEDIAN AGE - 29

6 Trade Volume Exports 152,489 billion $ (2012) Imports 236,545 billion $ (2012) 1986 : 19 bln 1996 : 67 bln 2006 : 212 bln 2008 : 333 bln

7 FDI Inflows ($ billion) (80 years) (10 years) Turkey ranked as the 13 th most attractive FDI destination in 2012 with $ 12,4 billion inflow. FDI stock value in Turkey is $ 181 billion.

8 FDI Confidence Index

Turkey s 2023 Goals The Centenary of the founding of the Republic To become one of the 10 largest economies GDP of $2 trillion $500 billion exports Trade volume in

9 Turkey s 2023 Goals The Centenary of the founding of the Republic To become one of the 10 largest economies GDP of $2 trillion $500 billion exports Trade volume in excess of $1 trillion Per capita income to reach $ Unemployment decline to 5% 9 th largest economy in the world and 3 rd largest economy in Europe by 2050 (Goldman Sachs)

10 OUTLOOK FOR INFRASTRUCTURE INVESTMENT & COOPERATION Possible areas of infrastructure projects: education, energy, defense, health, transportation and other public services Infrastructure opportunities in Turkey s privatization program Privatization efforts around USD 50 billion in the last 10 years The public-private partnership (PPP) model

Istanbul airport Channel Istanbul Istanbul-Izmit-Izmir Motorway

11 INFRASTRUCTURE PROJECTS Capital projects: A high-speed rail projects (Two in place): Link between Istanbul and Ankara 3rd Istanbul airport Channel Istanbul Istanbul-Izmit-Izmir Motorway Third bridge over the Straits, and numerous port and power plant initiatives

12 Projects to connect Asia and Europe Marmaray Tunnel Third Bridge on the Bosphorus Eurasian Tunnel

from London to Beijing via Istanbul by train 75 thousand passengers

13 Marmaray Tunnel The world's deepest undersea tunnel with a 54 m depth The world's first connecting two continents; Asia and Europe Traveling from London to Beijing via Istanbul by train 75 thousand passengers per hour, one million passengers in a day Important trading & cargo route

14 In the next 10 years: 150+ infrastructure projects $300 billion worth Cell phone users: 68 million Europe s biggest truck fleet (45,000 trucks, 1,420 companies) Europe s 2 nd biggest bus producer 1,1 million flights in 2012 (2.4 mil.tones freight, 130 mil.passengers) THY 14th biggest fleet in the world and 4th in Europe 48 airports & 76 ports High-speed railway lines/projects 2012 :1,07 million cars produced in Turkey (Turkey ranks 16th in car production in the world) 38 out of the world s top 225 contracting companies are Turkish Turkey ranks 2 nd only to China in the world construction sector

15 LEADING SECTORS IN TURKEY

16 TOURISM 39 M. (2013) 6th in the world / 4th in Europe

17 TOURISM VISION million tourists 50 billion USD revenue 24 billion USD investment from private sector

18 HEALTH HEALTH TOURISM

19 CONSTRUCTION In the Engineering News Record s (ENR) list of top 225 construction companies, there were 33 Turkish companies in Turkish Contracting Sector has undertaken over 5800 projects in 85 countries with more than $ 180 billion of project value since 1972.

20 AGRICULTURE The World Leader in Production and Exports of CITRUS FRUIT; 9 TH PRODUCER IN THE WORLD 3 RD PRODUCER IN EUROPE 6 th Olive Oil Producer in the World 4 th Olive Oil Exporter in the World CHERRY; 1 ST PRODUCER IN THE WORLD

21 MINING 1st in the world in the production of borons and feldspar. 3rd in the world in the production of magnesite, bentonite and perlite. 2nd in the world in the exports of chromium and feldspar; 4th in the exports of magnesite.

22 SHIPBUILDING In the top 10 in ship building In the top 5 in yacht building

23 FURNITURE 3rd in world exports of convertible seatings Exporting to 178 countries.

24 JEWELLERY (Precious Preciousmetals metalsand and stones) One of the top 5 jewel producers and exporters in the world. Total capacity to process 400 tons of gold annually. Gold exchanges since 1996 and gold refinery since 2001.

25 CERAMICS 5th in the world and 3rd in Europe in the production of ceramic tiles. 2nd in Europe and 4th in the world in the production of ceramic sanitary ware. Exquisite design and superior quality.

26 TEXTILE 2 nd Textiles Supplier in the EU 1 st Home Textiles Exporter in the World Sixth largest synthetics Sixth largest synthetics capacity in the world

27 GARMENTS Second largest garments supplier of the EU and 4th in the World The World Leader in the production and exports of socks

28 GLASS AND GLASSWARE 2 nd in Europe and 3 rd in the world for glass and glassware exports Outstanding design capacity, good quality, wide sales services

29 ELECTRICAL MACHINERY, APPLIANCES, TV S Turkish television industry- 2 nd largest supplier of European market Turkish home appliances Turkish home appliances industry- 4 th largest supplier of Europe.

30 ISTANBUL IN FIGURES 23 % of Turkey s GNP ($ 332 bln) Exports from Istanbul - %46 Imports from Istanbul - %40 %35 of collected deposits %33 of credit used

31 ISTANBUL IN FIGURES PwC - $133 bln income surpassing 127 countries TR s 23% of GDP 2nd after NY (Foreign diplomatic missions)

33 PROFILE OF TURKISH CANADIANS Approx. 60 K overall in Canada 30 K in GTA Mostly professional / white collar Very-well integrated No concentration in a specific area Strong organizational capability - Associations

34 REL S BTW. TURKEY AND CANADA STANDING SENATE COMMITTEE ON FOREIGN AFFAIRS AND INTERNATIONAL TRADE BUILDING BRIDGES: CANADA TURKEY RELATIONS AND BEYOND

35 REL S BTW. TURKEY AND CANADA GLOBAL MARKETS ACTION PLAN THE BLUEPRINT FOR CREATING JOBS AND OPPORTUNITIES FOR CANADIANS THROUGH TRADE

36 REL S BTW. TURKEY AND CANADA INTERNATIONAL EDUCATION STRATEGY HARNESSING OUR KNOWLEDGE ADVANTAGE TO DRIVE INNOVATION AND PROSPERITY

37 WHY TURKEY? In 3 HoursFlight - 50 Countries - 1,5 billionpeople people $25 Trillion GDP - $8 Trillion Trade Volume EUROPE GDP $ Trillion Population 666 million RUSSIAN FEDERATION GDP $ 1.5 Trillion Population million CENTRAL ASIA & CAUCASUS MIDDLE EAST AND NORTH AFRICA GDP $ 2,8 Trillion Population 6 36 million GDP $ 290 billion Population 80 million

38 WHY TURKEY?

39 CENTRALLY LOCATED Number of Countries Covered by MNCs 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

40 SOME CANADIAN COMPANIES IN TURKEY

41 SOME CANADIAN COMPANIES IN TURKEY

42 Turkey Canada Trade Volume Exports to Canada Importsfrom Canada $1,279 bln $ 889,122 billion (2013) (2013) TRADE VOLUME 2010 : 1,510 bln 2012 : 2,330 bln 2013 : 2,168 bln

43 TURKEY CANADA BILATERAL TRADE TOP 10 EXPORTS TO CANADA TOP 10 IMPORTS FROM CANADA PRODUCT NAME CHG CHG. (1-12) (1-12) (%) PRODUCT NAME (1-12) (1-12) (%) Unwrought gold 240, , Lentils 70, , Shelled hazelnuts 88,385 79, Iron scrap 136,694 97, Towers and lattice masts 27,728 49, Newsprint 55,833 67, Iron bar and rods 106,335 46, Woodpulp (coniferous) 16,610 59, Glazed ceramic, tiles 35,012 43, Bituminous coal 103,817 49, Worked marble 36,020 38, Durum wheat 22,127 44, Iron casing tubing 44,087 38, Iron ores 57,936 42, Steel bar and rods 42,565 27, Unwrought aluminum 0 26, Trucks 135,763 26, Woodpulp (non-conf.) 16,145 17, Medicamanets 9,390 24, Wood in chips 34,758 16, Thousands of U.S. Dollars Source: Statistics Canada

44 Q&A

REPUBLIC OF TURKEY PRIME MINISTRY

REPUBLIC OF TURKEY PRIME MINISTRY Investment Support and Promotion Agency of Turkey (ISPAT) Investment Climate and Doing Business in Turkey Murat OZDEMIR Country Advisor Canada ozdemir.murat@invest.gov.tr