Download (Introduction)

T.C. Tokyo Büyükelçisi Abdurrahman Bilgiç’in 28 Haziran 2011 tarihinde
Japonya’daki Fon Yöneticilerine Yaptığı Konuşma
(Introduction)
Ladies and gentlemen,
It is a real privilege to address such a distinguished audience.
Tonight I would like to brief you on Turkish economy and possible points of interest for those
of you who are willing to give Turkey a bigger share in their in their investment portfolios.
But firstly I would like to familiarize you with Turkish history and culture.
(And I promise to keep my speech as brief as possible so that we can have time to deepen the
discussion with your questions)
(History and Culture)
The original lands of Turks is Central Asia, bordering China. From this location, starting from
the 6th century B.C. Turkish tribes have began to migrate to West. Through out this long
journey that lasted centuries, they have interacted with Chinese, Indian, Middle Eastern,
Persian, European and Anatolian civilizations.
Today’s Turkish culture can be described as a rich blend of these ancient cultures.
This process of constant interaction with many dominant civilizations has also come to define
the social and political values of Turks.
As the Turkish tribes established different states/kingdoms in north India, Central Asia,
Caucasus, Iran, today’s Russia and Iraq, Egypt, Syria, Lebanon, Anatolia and the Balkans, the
Turks have nurtured a tradition of tolerance and respect for cultural differences.
(Geography)
Since the 11th century, Anatolia has served as the homeland for Turkish people. Rightly
labeled as the cradle of civilizations, Anatolia since the first days of modern humans has
given rise to great Mesopotamian civilizations. Standing between two continents and oldest
trade routes, Anatolia became the melting pot of different cultures, values and ideas.
The Turkish states namely Seljuks, Ottomans and finally the modern Turkish Republic have
all been nourished from this wealth of this deep history and culture.
(Turkish Republic)
Modern Turkey was founded by Kemal Ataturk after the collapse of the Ottoman Empire
following the First World War.
The Treaty of Lausanne of July 24, 1923, led to the international recognition of the
sovereignty of the newly formed Republic of Turkey as the successor state of the Ottoman
Empire, and the republic was officially proclaimed on October 29, 1923, in the new capital
Ankara.
Mustafa Kemal became the republic's first President of Turkey and subsequently introduced
many radical reforms with the aim of founding a new secular republic from the remnants of
its Ottoman past.
This unique geography at the crossroads of Balkans, Mediterranean, Middle East, Caucasus,
Russia and Central Asia also had a major impact on the basic orientations of the Republic’s
foreign and economic policies.
(Foreign Policy)
In this vain, Turkey’s geostrategic disposition along with deep rooted historical and cultural
ties with a vast geography extending from Europe to Central Asia necessitate a multidimensional and pro-active foreign policy.
The primary objective of Turkish foreign policy is to help secure a prosperous and stable
environment in her neighborhood which is conducive for friendly relations based on mutual
understanding and cooperation. To this end we seek to cultivate a culture of reconciliation
instead of tension and conflict by actively contributing to the peaceful resolution of
outstanding conflicts in our region and beyond.
Turkey is a fervent advocate for reform in the Middle East and North Africa and is actively
pursuing diplomatic efforts to negate the concept of “clash of civilizations”. We are an avid
promoter of positive change in the region. The main energy of my Ministry for the time being
is invested in smoothing the process of change in a way that will maintain peace and
prosperity of the people of our region.
Turkey is also actively pursuing its strategic goal of accession to EU. We are the only country
that has established customs union with EU before full membership. Turkey’s EU accession
negotiations were launched in 2005. Through out the negotiation process our government has
reformed an important part of our legislation with an understanding to align them with the EU
standards. The negotiations on various chapters of EU laws are still continuing for full
alignment.
(Turkish-Japanese Relations)
With regard to the relations between Turkey and Japan, I always feel privileged to underline
that the origin of the exemplary relations between Turkey and Japan has its roots in history.
The friendly ties between our peoples bloomed prior to the foundation of the Republic of
Turkey and Japan.
Turkey and Japan has well established mechanisms through which regular consultations are
held on important international issues, particularly on matters affecting our respective
interests. I would like to express my satisfaction with the steady progress of the bilateral
relations in all aspects through the institutionalized consultations and official level visits.
Within the framework of our policy of opening up to Asia-Pacific region, we attach
importance to enhancing our political, economic and cultural relations with Japan.
Although we are located on opposite banks of Asia, we have vital common interests that are
upheld by shared values.
Both countries play an important role in the maintenance of peace and stability and the
promotion of prosperity in their respective regions. Turkey and Japan is also share similar
approaches towards major international issues. In this regard, Turkey and Japan enjoy a strong
partnership in international organizations in pursuit of their common interest.
This solid friendship has gained new dimensions through projects like Marmaray and Izmit
Gulf Bridge. This momentum in our relations has been strengthened after Toshiba has
claimed the bid to assemble the next generation communication satellites of Turkey. The deal
also laid the foundations for the establishment of Turkish Space Agency by Japanese expertise
and know-how. I have a firm belief that these strategic bonds will further be enhanced by a
partnership between our countries in nuclear energy in near future.
Another important development in our economic relations is the prospect of a free trade
agreement with Japan. After the EU and Japan has decided to start negotiations for FTA, in
line with the customs union between Turkey and EU, we are also planning to start with Japan
exploratory discussions for the FTA negotiations in the coming months.
(Economic Indicators)
Before moving on to the economy and investment part of my speech, I think it is essential to
underline that we had a general election on the 12th June. The outcome of the election has
granted the ruling party a third term in government with a firm public support thus ensuring a
stable and predictable political environment which I believe is one of the key factors for
investment decisions.
Another factor is naturally the geopolitical potential of the investment. In this sense I believe I
was able to give you a perspective of the close interaction of Turkey with a vast array of
regions spanning from Europe to Central Asia encompassing the Mediterranean Basin and
Middle East. Both our major companies and also our SMEs have deep rooted working
relations with the countries of our region and beyond.
I believe you are all well informed about the current state of the Turkish economy but let me
give you certain figures about the economy.
 Turkey’s population is 74 million as of 2011. Demographic profile: %26 is 0-14 years,
%64 is 14-60 years. Turkey has the youngest population of Europe.
 Turkey is the 17th largest economy of the world and 6th largest economy of Europe
according to PPP. (GDP PPP: 956 billion USD, GDP nominal 735 billion USD)
 Turkey’s average GDP growth rate is %7.2 in 2002-2006. GDP growth rate of 2010 is
%8.9 and with this level Turkey has emerged as the fastest growing economy in Europe
after the global financial crises. The growth rate projections for 2012 and 2013 are %5 and
%5.5 respectively.
 Turkey’s per capita GDP is 10,079 USD. Major contribution to Turkey’s GDP growth is
coming from private consumptions and investments.
 Unemployment is %10.6 as of 2011is still relatively high.
 Average inflation is %11.8 in 2002-2010. As of May 2011 inflation rate is %4.3.
 Annual exports of Turkey in 2010 are 114 billion USD. As of April 2011 total exports are
121.9 billion USD. Export growth rate of Turkey is %11.3 comparable to developing
Asian countries export growth rate of %11.9. Export targets for 2012 and 2013 are 143.5
billion USD and 160 billion USD respectively.
 Current Account Balance/GDP is %-6.6 as of 2011.
 Foreign Direct Investment inflow between 2003-2010 is 93.6 billion USD.
 Privatization figure in 2003-2010 is 47.9 billion USD.
 Public sector gross debt stock is below %60 of GDP much better than many EU countries.
(Investment)
These figures show a fast growing economy supported by a solid financial system tested by
the recent global financial meltdown. In order to sustain a balanced but steady growth rate
that is not hampered by an inflated public debt, the government is maintaining a tight
financial discipline.
As a result of both the current state of the economy and also the positive forecasts for the
future of macroeconomic indicators, as of 2011 there are than 26.000 foreign companies
operating in Turkey.
Thanks to the business-friendly governments since 1980s, Turkey has a very open and
practical legislation that encourages foreign investment. The principle of non-discrimination
and equal treatment governs the Turkish foreign investment legislation. Foreign investors
enjoy the same status with local companies. There are no prerequisites for a Turkish
participation in the capital or management of a company established with foreign capital. The
government is also providing tax incentives and land allocations for large size foreign
investments. There are further incentives for the procurement of interim goods and R&D
investments thus making the investment environment in Turkey ripe in an atmosphere where
many world markets are losing their attraction.
In short, the strength of the Turkish economy rests on its young, fast growing population
creating a dynamic work force and a stable internal market, its strong economic indicators
supported by a well balanced debt ratio and its business friendly environment conducive for
foreign investment.
The Turkish stock market in this sense is emerging as an ideal choice for investors looking for
a secure and predictable profit destination.
I sincerely hope to see more Japanese fund managers like you, to increase their shares in our
stock market.
Thank you for your kind attention.