Law Andmentalıty
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YOUR CoMPlIMENTARY CoPy EXCLUSIVe INTERVIEW Finance Minister Mehmet Şimşek tells The Turkish Perspective about how Turkey has prepared for 2012 MARCH–APRIL 2012 ıssue 9 ECONOMY BUSINESS FOREIGN TRADE ANALYSIS BRIEFING The Weapon of Design and R&D Eyes on Reciprocity in Real Estate BRANDS A Global Brand in Porcelain Designs That Pause Time SPECIAL REPORT Robert Fisk on “The Role of Turkey in The Middle East” a CHANGE OF LAW AND MENTALITY The new Turkish Commercial Code that will be come into effect in July is changing not only the rules, but also the way of business in Turkey TURKISH EXPORTERS ASSEMBLY IS WORKING TO REACH TURKEY’S 2023 EXPORT TARGET OF 500 BILLION DOLLARS The Turkish Perspective 1 contents 05 | A Meeting of the Record Setters in Growth 06 | Increased Competitiveness through Clustering 07| Giants of Turkish Cinema Enjoy Virtual Flight 08 | Imports Map for a Solution to Trade Imbalance 09 | Attracting Capital Investment 10 | A New Partnership with Korea 11 | Goldman Sachs Revises Its Forecast for Turkey 35 30 COVER a change not only of laW, But of mentalıty too As the date it will come into effect and initiate a deep-rooted change in Turkish business approaches, debates on the new Turkish Commercial Code are increasing. Investors and businesspeople both local and foreign are waiting for July for a 00 brand-new way of doing business that is shaped by the touch of the new TCC 12 PANORAMA 14 BRIEFING 400 years of dutch – turkısh 14 | the crossroads of the natural stone industry, pos- Diplomatıc relatıons relıgıons sessing a significant portion of the 2012 promises to be a peak year Turkey draws tourists not just world’s reserves and a high-quality in Dutch-Turkish relations, with its range of climates suited manufacturing base laying a solid foundation for to various types of recreation, but even deeper cooperation and 24 | eyes on recıprocıty also with the religious treasures it friendship in the future ın real estate 14 houses The change in real estate law is 17 | What draWs ınternatıonal expected to increase the input of funds to hospıtals? foreign capital even more Turkey exhibited great 26 | reneWaBle opportunıtıes performance in drawing hospital Renewable energy sources care investments in 2011 (RES) are attracting the interest 19 | the Weapon of desıgn and of Turkish and international r&d ın the Battle of competıtıon companies alike The Turkish furniture industry 28 | playıng for leadershıp is preparing to leave Germany with a sportsmanlıke Vısıon behind in quality, Italy in Turkish Airlines is Turkey’s face design, and China in price as it abroad, representing the country collects the three great powers of with the amazingly successful competition in its hands sponsorship agreements it has 22 | marBle country been signing in sports 26 Turkey is playing for leadership in 2 content 38 exclusive ıntervieW “the economy ıs safe, sound and 38 suffıcıent” Milton Friedman would probably MANAGEMENT be proud. Finance Minister Publisher on behalf of Turkish exPorT- Mehmet ŞimşekΩone of the ers assembly/ PresidenT of The Turkish most active ministers in the exPorTers assembly MEHMET BÜyÜKEKŞİ cabinetΩbelieves sincerely in the power of the market and the manager in Charge mustafa mente importance of foreign capital PUBLICaTION BOARD m. İlker aycı, BÜLENT AYMEN, 44 opınıon İBRAHİm BURKAY, MUSTAFA ÇIKRIKÇIOĞLU PhD, ALİ NEDİm gÜRELİ, AHMET KELEŞ, “hıstory goes foreVer” TEMEL KOTİl PhD, ŞAHİn OKTAY, Robert Fisk has witnessed nearly TAHSİn ÖZtİRYAKİ all aspects of life in the Middle PUBLICATION MANAGEMENT East. “History goes forever,” says the PresidenT illustrious journalist, in summation 44 serkan Ünal of his statement on the unique GROUP CoordinaTor nature of the events occurring in mehmet Mücahİd demİr the region today and his view that finanCe CoordinaTor selİm kara one shouldn’t expect results from edıtorıal them in the short term ediTor in Chief serdar turan 48INDEPTH ediTors ceyhan aksoy, aynur Şenol altun, 48 | the element of ınnoVatıon merVe kara, can gursu, ın groWth 58 derya engİn kutlu The air of spring prevailing in ENGLISH ediTor the economy of Turkey for quite 58 BRANDS ALTAN ORHON some time has facilitated the 58 | a gloBal Brand ın 64 | the World’s Kitchens desıgn birth and growth of many new porcelaın are made ın turkey grouP design director business ideas that will be key in Porcelain, once an imported good, The number of companies active in n. EMRAH yÖrÜk sustainable growth is now becoming an industry in the industrial kitchen furnishings design director ÖZKAN ORAL which Turkey is known as a brand industry in Turkey is increasing day 54 | Time for turkey to shıne dePuTy design director Big-budget research funds are still 61 | JeWELS ILLUMINATING LUXURY by day. Launched in the ‘80s, the AHMET ÇELİk industry now rides a massive wave responsible for a great number As the definition of luxury PhoTo ediTor of growth ŞEREF YILMAZ of discoveries, but small, well- changes, Bee Goddess’s jewelry constructed, agile research groups aims to reflect the concept of contributors 66 | the turkısh delıcacy that doĞacan sİlİVrİ, emel ıŞıtan are today significant producers “enlightened luxury,” meaning captivates the World of them as well. Turkey, with the the shift from status symbols to PRıntıng Layers and layers of thin dough smart steps taken by the public and symbols of the soul bİLNET MATBAACILIK bİlTUR basim yayin Ve hİZMET a.Ş. combine with vibrantly colored dudullu organİZe sanayİ bölgesİ 1. Cadde no: 16, private sectors, is rising confidently esenkenT – Ümranİye 34476 - İsTanbul tel: (0216) 444 44 33 • www.bilnet.net.tr in the rankings of R&D studies 62 | desıgns that pause Time ingredients and set out from Upon introducing her new ready- Turkey on a tour of the planet to-wear clothing collection in upcoming days, Dilek Hanif aims 68 AGENDA to develop a more active presence ConTact meetıngs, faırs, AND summıts ın [email protected] abroad the next tWo months www.infomagyayincilik.com neither text nor photographs from this publication may be reproduced either in full 70 FIGURES or summary without acknowledging the source and without prior permission from the a look at employment and publisher. 48 exports MARCH-APRIL 2012 ISSUE 9 The Turkish Perspective 03 editorial mehmeT BüyÜkekŞİ PresidenT (TIM) as turkey contınues to groW, exporters pass neW Milestones without cuttıng pace With the success and dynamism it has attained, Turkey continues to draw interest in the world today, just as it did yesterday e have left behind yet an- As the Turkish Exporters Assembly, W other year that was intense and we organized many trade delega- very full for us. At a time when global tions and business forums this month trade, manufacturing, and investment in order to increase our global trade took major wounds, Turkey rose to and contribute to welfare by way of the position of one of the world’s most commerce. We hosted Chinese Vice attention-getting countries with the President Xi Jinping—who came to growth rates and foreign trade figures Turkey as the invitee of our President, it achieved. As the world’s economies Mr. Abdullah Gül—and the business face the danger of recession, Turkey delegation with him at the Turkey-Chi- continues to serve as an example to the na Economic and Trade Cooperation whole world with its growth figures. Forum we held. Seeing that the economic indicators we The world’s countries are slowly over- targeted for 2011 were attained contin- coming the convalescence period of the ues to inject us with hope and motiva- crisis. Positive news has started to come tion for 2012. from Greece—euro zone finance minis- Covering more than 1,000 compa- ters agreed to measures that will reduce nies, the Exporter Tendency Survey Greece’s debt to 120.5% of its GDP by conducted by the Turkish Exporters 2012, too. Turkey’s exporters continue 2020. We saw here the best example of Assembly bore results showing that production, investment, and export how mutual empathy can solve prob- exporters continue to maintain posi- uninterrupted and without cutting lems. Assessing the risks in the global tive expectations for the coming term. pace. markets, we might not be expecting a According to the Q4 2011 results of With the 135-billion-dollar export and year as bright as 2011, but with the posi- our survey, our exporters envision 375-billion-dollar foreign trade figures tive news coming from world economies 7.8% growth for 2012. In 2011, our we attained in 2011, Turkey proved once we do believe that 2012 will be positive exporters had predicted 8.6% growth. again that it is one of its region’s most and are seeing the signs of this. Growth figures are so far expected to important centers of trade. The Turkish As it did in 2011, we believe that Tur- come in at 8.3%, showing how well our exporter aimed to strengthen its manu- key’s star will continue to shine through exporters read our country’s growth. facturing infrastructure, increase high- 2012 too. Turkey is coming closer to its In an environment in which Turkey’s tech production, and be more active in ideals with each passing day. It looks Medium-Term Program predicts 4% new markets, and as a result of this it toward a bright future with hope, and and the IMF 2% growth, our exporters’ succeeded in taking Turkish products all with the success and dynamism it has positive expectations show that Turkey over the world via high-level proactive attained, it continues to draw interest in will continue to grow at a high speed in marketing strategies. the world today, just as it did yesterday.