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THE 4th TURKISH-ARAB
ECONOMIC FORUM
GLOBALIZATION TO REGIONAL COOPERATION
WALID R. ALAMEDDINE
CHAIRMAN
Lebanon’s Banking Control Commission
June 11-12, 2009 - Istanbul
1
TURKISH-ARAB ECONOMIC
RELATIONSHIPS
-
Overall Relationships
Trade
Capital Markets
Banks
2
OVERALL RELATIONSHIPS
(Excluding Trade & Finance)
-
Real Estate Investments
Turkish Contractors
Tourism
Media – “Turkish Series”
Central Asian Republics, Turkey as Gateway:
Azerbaijan, Uzbekistan, Turkmenistan,
Kazakhstan, Kyrgyzstan, Tajikistan ($ 1Trillion
combined economy by 2015)
3
G20
GDP 2007
1
U.S.
2
$ Trillion
13.84
11
Brazil
1.86
Japan
4.3
12
Mexico
1.35
3
Germany
2.81
13
S.Korea
1.2
4
U.K.
2.14
14
Turkey
0.887
5
France
2.05
15
Indonesia
0.837
6
Italy
1.79
16
Australia
0.760
7
Canada
1.27
17
Saudi Arabia
0.564
8
China
6.99
18
Argentina
0.523
9
India
2.98
19
S. Africa
0.467
Russia
2.09
20
E.U.
14.71
10
85% of World GDP 48.7/57.3
IMF/PPP
4
TURKEY’S CAPITAL MARKETS:
(a) Stock Market, & (b) Bonds & Bills Market
-
-
More than 60% of “free float market capitalization” on
Istanbul Stock exchange (ISE) is foreign.
Foreign Investor’s capital gains are tax-exempt
Free Repatriation of capital and proceeds
Size is still smaller than banks, as banks have relatively
significant interest rates
5
a) STOCK MARKET
-
-
-
317 companies listed
Market Capitalization: 120 BN
Trading Value:
260 BN
Daily trading value: above $ 1BN
22 companies more than $ 1BN (Market Capital)
Financials: 51% of total
1/3 of net FDI’s (Foreign Direct Investments) came
through the ISE (2006-2008)
FDI’s around $ 15 BN annually (2006 -2008)
6
(b) BONDS & BILLS MARKET
-
-
Active & much larger in traded value than stock
exchange
Trading value: $ 3,019 BN (2008)
7
TURKEY’S TRADE 2008
Exports:
$ 140.8 Billion
Imports:
$ 193.9 Billion
Trade Balance: (-) 53.1 Billion
8
TURKISH-ARAB TRADE
- 2008 witnessed the fastest Growth of Turkish exports to the
Middle East
- The largest increase was with the UAE (also Qatar & Kuwait)
- Europe still accounts for more than 50% of Turkish
Exports
9
Turkey’s Trade: Partners Share of Total
EXPORTS
2007
2008
OECD
%
62.0
53.4
Middle East
UAE *
Iraq
Saudi Arabia
Qatar
%
%
%
%
%
13.1
2.6
2.5
1.2
0.5
19.3
6.7
2.4
1.7
1.2
* Exports to UAE show readjustment in 2009 from the very high rate of 2008
10
Turkey’s Trade: Partners Share of Total
IMPORTS
2007
2008
OECD
%
55.5
51.2
Middle East
Iraq
Iran
Saudi Arabia
%
%
%
%
7.3
0.1
4.21
1.4
9.2
0.8
4.1
1.7
Saudi Arabia took over from Iraq as the main Oil supplier to Turkey following
the closure of the pipeline in August 1990
11
TURKISH – ARAB TRADE
SELECTED FINANCIAL VALUES
$ Millions
NAME
2007 2008 2009*
1
U.A.E.
3,711
8,667
3,092
2
SAUDI ARABIA
3,927
5,524
2,926
3
LEBANON**
509
844
645
* Annualized - as of 03-2009
** Turkey ranks as the 7th exporter to Lebanon
12
TURKEY’S BANKING SYSTEM
Independent Regulator: Banking Regulation &
Supervision Agency (BRSA) BDDK
- Total Banks’ Assets $ 481 Bn
- Banks Assets / GDP: 77%
- Number of Banks:
50
- Representative Offices of Foreign Banks: 50
-
13
TURKISH BANKS: LARGE “REGIONAL” SIZE
Asset Size
NAME
$ MILLIONS
1
ZIRAAT (State)
68.6
2
IS
64.1
3
GARANTI
58.4
4
AKBANK
56.3
5
YAPI VE KREDI
41.9
14
Majority-Owned Arab Banks in Turkey:
5/50 Banks
Name
Major Shareholders
1
Turkiye Finance*
NCB (65%)
2
Kuveyt Turk*
Kuwait Finance House (62%)
3
Albaraka Turk*
Al-Baraka Banking Group (54%)
4
Turkland Bank
5
Arap Turk
Bank Med (41% - Management)
Arab Bank (50%)
62.4% Libyan Foreign Bank
1.6% Kuwait Investment
* Participation (Islamic) Banks
15