Africa – Muhasebe News https://www.muhasebenews.com Muhasebe News Thu, 27 Apr 2017 11:30:26 +0000 en-US hourly 1 https://wordpress.org/?v=6.3.5 Turkish Cement Sector Increased Its Production By 50% In The Last Decade! https://www.muhasebenews.com/en/turkish-cement-sector-increased-its-production-by-50-in-the-last-decade/ https://www.muhasebenews.com/en/turkish-cement-sector-increased-its-production-by-50-in-the-last-decade/#respond Thu, 27 Apr 2017 11:30:26 +0000 https://www.muhasebenews.com/?p=14696 The Chairman of the Cement Industry Employers’ Union (ÇEİS) Tufan Unal stated that the Turkish cement sector reached a production of 77 million tons in 2016 and added that “Turkish cement sector has increased its production by 50% in the last decade and became the leader of Europe. We have not only become the European leader but also made our country rank first in the world cement production. We are building a future for Turkey with infrastructure, roads, bridges, housing projects.” Unal stated that the US, Africa and Georgia may be potential export markets for the sector in the coming years.

Source: Ministry of Economy

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]]> https://www.muhasebenews.com/en/turkish-cement-sector-increased-its-production-by-50-in-the-last-decade/feed/ 0 The Revival of Ancient Silk Road! https://www.muhasebenews.com/en/the-revival-of-ancient-silk-road/ https://www.muhasebenews.com/en/the-revival-of-ancient-silk-road/#respond Thu, 20 Apr 2017 08:23:41 +0000 https://www.muhasebenews.com/?p=14157 China is moving forward with an ambitious project to build a new Silk Road linking Asia, Africa, the Middle East and Europe.

Representatives of as many as 110 countries are expected to attend including Russian President, Pakistani Prime Minister and Cambodian Prime Minister, as well as the leaders of Myanmar, Kazakhstan, Malaysia and Indonesia.

It is regarded to be the country’s biggest diplomatic event of 2017.

Source: Euronews

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]]> https://www.muhasebenews.com/en/the-revival-of-ancient-silk-road/feed/ 0 Turkey-Africa Trade and Economic Relations https://www.muhasebenews.com/en/turkey-africa-trade-and-economic-relations/ https://www.muhasebenews.com/en/turkey-africa-trade-and-economic-relations/#respond Thu, 23 Mar 2017 11:39:45 +0000 https://www.muhasebenews.com/?p=11501 Turkey’s Trade and Economic Enhancement Strategy towards Africa lies behind the gradual boom of the Turkey’s bilateral relations with the African countries since 2003. In response to the changing conditions and needs of the Continent, the Strategy has been updated during the Turkey-Africa Partnership Summit in Malabo-Equatorial Guinea in 2014 and its vision and objectives have been modified aiming to increase the Turkish FDI to Africa, job opportunities for domestic people and creating an environment conducive to economic development of African countries.

Major outcomes of the Strategy are as follows:

Legal Ground
1. The number of the countries with which Turkey signed Trade and Economic Cooperation Agreementincreased to 39 in 2015 while it was 23 in 2003. This agreement establishes a bilateral regular follow-up mechanism where several subjects stretching from trade, investment and finance to SMEs, health and technology.
2. Free Trade Agreementswith 4 African countries are in force now when it was literally none in 2003.
3. Reciprocal Protection of Investment Agreementswith 19 countries have been signed so far, however, Turkey had this agreement with only 6 countries in 2003.
4. Prevention of Double Taxation Agreementswith 10 African countries are effective today in comparison with that it was only 4 in 2003.

Institutional Capacity
1. The number of Turkish Embassiesin Africa recorded as 39 African countries and Trade Counselor Offices in 26 countries while they are 7 and 4 respectively in 2003.
2. TIKA (Turkey’s Aid Agency) Officesin the continent are operating in 15 countries.
3. Foreign Economic Relations Board has established Business Councilswith African counterparts in 31 countries.
4. As of present,Turkish Airlines fly to 48 destinations in 31 countries in the continent. In 2003, it was merely flying to North Africa.

Trade and Investment Figures
1. Turkey’s trade volume with Africa totaled USD 19.5 billion in 2015, up 16% from 2008 and 258% from 2003. Turkey’s export in 2003-2015 increased almost six folded and import has more than doubled in the same period.
2. Turkey’s share of Africa’s trade volume rose to 2.3% in 2014and the share of Africa in Turkey’s trade volume was 7% in 2015. In 2003, they were 1% and 4.5% respectively.
3. Turkish FDI (stock) in Africa has exceeded USD 6 billion in 2015whereas it was less than USD 100 million in 2003.
4. Turkish contractors have continued to build Africa in 2015 and the volume of the projects undertaken by Turkish companies has grown to USD 55 billionso far since the early 1970s.

Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

]]> https://www.muhasebenews.com/en/turkey-africa-trade-and-economic-relations/feed/ 0 Infrastructure, Energy and Health Sectors Were Evaluated At Turkey-Italy Business Forum https://www.muhasebenews.com/en/infrastructure-energy-and-health-sectors-were-evaluated-at-turkey-italy-business-forum/ https://www.muhasebenews.com/en/infrastructure-energy-and-health-sectors-were-evaluated-at-turkey-italy-business-forum/#respond Wed, 22 Mar 2017 13:10:16 +0000 https://www.muhasebenews.com/?p=11351 Hosted by DEİK on February 22, 2017 in Istanbul, the Turkey-Italy Business Forum was attended by Turkish Economy Minister Nihat Zeybekci, Italian Economic Development Minister Carlo Calenda, DEİK’s President Ömer Cihad Vardan and DEİK/Turkey-Italy Business Council President Burak Vardan. Main agenda of the meeting was infrastructure, energy, health sectors and other business fields of potential Turkish-Italian partnerships. More than 100 Italian and Turkish business people participated the forum.

Turkish Economy Minister Nihat Zeybekci, drew attention to the significance of the agreement signed between Turkish and Italian Eximbanks as well as the need of new trade volume target. DEİK and its Counterpart Confindustria will establish a joint platform to seize business opportunities and to boost trade volume from 18 billion USD to 30 billion USD.
Renewal of Turkey- EU Custom Union will contribute significantly to EU and trade volume will increase by 55-60 percent. Turkish and Italian business communities will benefit from the renewal and he announced that Turkish Trade Center will be established in Italy in 2017. In the sectors of tourism and energy two countries complete each other; furthermore, new investments are kicked out in the energy sectors.

Italian Economic Development Minister Carlo Calenda, stated that Turkey can always trust Italy in the matters of EU, furthermore, during the Custom Union renewal Italy will act as supervisor and will follow up the procedure. Turkey shouldered great responsibility regarding illegal migration and Calenda thanked Turkey for its great efforts. The agreement between to Exim Banks will accelerate investment and necessary studies will be carried out to correctly inform and guide investors.
Italian Economic Development Minister Carlo Calenda expressed that Turkey and Italy are stronger in different countries of Africa and partnership efforts should be accelerated. Turkey and Italy do not only have economic interest, as a result, their partnership will be very fertile.

DEİK President Ömer Cihad Vardanstated that Turkey and Italy is in a great harmony and synchronization. In the past two years trade is declining between two countries, thus, business communities from both countries should expand this volume as soon as possible. Italy has chosen Turkey as a “Target Country” and this is very important for Turkey, as a result, many new partnerships will be established in the sectors of energy, agriculture, automotive, food, start-ups, innovative technology and renewable energy.
Turkey-EU Custom Union negotiations will start soon and DEİK hopes that Custom Union will be completed soon addressing many chronicle problems between Turkey and EU. Turkey hopes for permanent solutions to chronicle problems such as transportation quota, driver license, Visa practice to Turkish citizens. Business communities of Turkey and Italy can do much greater projects than today via joint projects.

DEİK/Turkey-Italy Business Council President Burak Vardanindicated that opportunities in both countries should come to live. Both economy complete each other, thus, project in third countries should be initiated. Partnerships in the field of health, infrastructure and energy would be beneficial for both countries. “To be a key player in the global economic arena, both countries should form partnerships not only in Italy and Turkey but in Africa, Iran, Middle East and Central Asia”.

Turkey-Italy Trade Figures (Ministry of Economy-2016)
Turkish export to Italy: 7.5 billion USD
Main export items: Automobile, motor vehicles, crustaceans, parts and components for land vehicles, iron-steel
Turkish import from Italy: 10.2 billion USD
Main import items:Parts and accessories for land vehicles, petroleum oils, diesel, semi-diesel engines, motor vehicles
Trade Volume: 17.8 billion USD
Trade Balance:2.6 billion USD in favor of Italy

Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

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