by admin | May 25, 2021 | Investing, Muslim World
Harun Macit, president of YENIAD
By Tuba Sahin,
Ankara: Sudan needs an investment of nearly $500 billion in various sectors, acting president of a Turkish business association said.
Harun Macit, who represents A New World Industrialist and Businessmen’s Association (YENIAD), said the major drawback in Sudan is its inadequate production technology.
He added that Sudan is among the top three African countries having gold and copper mines, and Turkish businesspeople can play an important role in the country’s mining industry.
“Due to the lack of proper mining technology they [Sudanese people] have limitations. Below the surface, a large amount of precious metals are waiting to be explored,” he said.
Macit urged Turkish businesspeople to establish a system to process those metals and integrate them with Turkey’s gold exchange market to provide overseas finance for Sudan.
He said five consortiums were set with Sudanese and Turkish businesspeople in the fields of construction, energy, mining, agriculture and machinery during a business trip organized by YENIAD in February.
“Preliminary agreements worth $1.2 billion were signed between Turkish businesspeople and Sudanese ministry officials along with private sector representatives during the visit,” Macit said.
Roads, hotels, schools
“We believe that those business agreements will be realized this year and completed in five years,” Macit said.
He noted that the construction consortium includes building roads, bridges, hotels, schools and infrastructure works.
“We also plan to establish a factory in Turkey to process gum arabic and we will sell it to the whole world from Turkey.”
In 2014, Turkey and Sudan signed an agreement to rationalize resources and agricultural potential and contribute to sustainable food objectives.
Under the agreement, around 780,000 hectares across five regions were earmarked for investment by Turkish entrepreneurs.
He added that talks were underway for establishing livestock laboratories based on international standards in Sudan.
“We have made some agreements on livestock as Sudan is one of the largest animal-breeding countries in Africa,” Macit said, adding that the move will enable Sudan to import worldwide.
Energy, software
In February, $50-million agreements in the fields of water and energy were signed, including construction of a dam on River Nile.
“We also offered Sudanese officials cooperation in software eduction by providing a turnkey system for schools in the country.”
He said the association is also planning to make similar business agreements in Malaysia, Morocco, Pakistan, Jordan and South American countries, this year.
The investment may be increased, he said, if bureaucratic hurdles are removed and financial infrastructure improved in Sudan.
“We believe we will exceed targets set by presidents of both countries,” he said.
A bilateral trade volume target of $10 billion was announced by President Recep Tayyip Erdogan during his visit to Sudan in December.
Turkey’s exports to Sudan totaled $395.2 million in 2017 while imports from the country stood at $86.2 million.
—AA
by admin | May 25, 2021 | World
By Tuba Sahin,
Istanbul: Collaboration between Japanese and Turkish firms in other third countries, especially in Africa could bring success since they complement each other, Japan Bank for International Cooperation (JBIC) senior official said on Tuesday.
“Especially in Africa region I understand that Turkish companies have very close ties, network and business routes. We expect to see such successful cases in Africa region as soon as possible,” JBIC Global Head of Infrastructure and Environment Group Kazuhisa Yumikura told Anadolu Agency.
Yumikura said Turkish companies hold “unique” competitive edge and know-how in construction sector.
“Japanese companies don’t have such competitiveness in this area. Turkish and Japanese companies are complementing and supplementing each other so this combination assists the smooth implementation of business” he said.
Yumikura added the bank also provides export loans to Turkish buyers in order to support foreign trade between the two countries.
He appreciated Turkey’s “tremendous” economic growth in 2017 and expected it to continue in the upcoming periods.
“The strength of the economy or prosperity here is more than statistical numbers. I feel a great strength in Turkish economy right now,” he said.
Recalling that JBIC recently signed an agreement with Turk Eximbank to support Turkish and Japanese companies to collaborate in other countries, Yumikura said the deal would contribute to maintenance of the strong growth.
He underlined that Turkish bank’s posted excellent performance on the back of a good national economy.
“This is very good news for JBIC as we work with some Turkish local banks. It is more than happy to see such kind of performance,” he said.
Turkish banking sector’s annual net profit reached 49.1 billion Turkish liras ($13 billion) in 2017, hitting an all-time high profit, according to the Banking Regulation and Supervision Agency on Jan. 30.
JBIC provided bank-to-bank credit line in Turkey, which is still active, Yumikura said.
“We have extended outstanding loans to four Turkish banks for supporting Japanese export to Turkey — Isbank, Yapikredi, Denizbank and Garanti,” he said.
Yumikura said the bank also supports renewable energy, energy efficiency and global environment projects in Turkey through Development bank of Turkey and Industrial development bank of Turkey.
The JBIC has supported various type of projects in Turkey in the field of energy, oil pipeline along with public private partnership based hospital construction for more than a decade.
The bank also provides policy-based finance with a mission of contributing to the sound development of Japan, the international economy and society as a whole.
—AA
by admin | May 25, 2021 | Muslim World
Herbert Raymond McMaster and Ibrahim Kalin
Istanbul : The Turkish President’s Security and Foreign Policy Adviser Ibrahim Kalin met US National Security Adviser Herbert Raymond McMaster here and discussed issues that are hurting bilateral ties, the Turkish media reported on Sunday.
Joint efforts against terrorism, long-term strategic partnership between Turkey and the US, and the latest developments in the region were among the topics under discussion, Xinhua news agency reported quoting the Hurriyet daily.
The meeting came as Turkey is fighting for Afrin, a district in northwestern Syria being held by US-backed Kurdish militia known as People’s Protection Units (YPG), since January 20. Ankara has threatened to move on to target YPG-held Manbij, while Washington has refused to withdraw the troops from the town as demanded by its NATO ally.
As part of efforts to ease tension in bilateral ties and avoid a direct confrontation in Syria, US Secretary of State Rex Tillerson is expected to visit Ankara in the coming days, while Turkish and US Defence Ministers are scheduled to meet in Brussels next week.
—IANS
by admin | May 25, 2021 | Muslim World
By Nazli Yuzbasioglu,
Ankara: Turkey ranks among the top five countries with the number of its diplomatic missions abroad, the Foreign Ministry spokesman told Anadolu Agency.
“The number of our diplomatic missions reveals that we are not only a regional power but also global [one],” said Hami Aksoy.
Turkey has been performing an “active and entrepreneurial” foreign policy, Aksoy said.
“The human dimension of foreign policy that we are following is very important.”
He said that, in 2016, Turkey had the sixth-largest diplomatic network in the world, according to the Australia-based Lowy Institute for International Policy. According to Aksoy, Turkey reached up to number five with the new embassies opened last year.
Aksoy said that, according to Lowy’s diplomacy index, the US is at top of the list with 273 foreign missions, followed by China with 268, France with 266 and Russia with 242.
He said, according to the list, Turkey and Japan shared the fifth spot with 229 diplomatic networks. However, Turkey increased its number of diplomatic missions to 239 recently.
“138 of those are embassies while 86 are consulate-generals, 13 are permanent representations, one is a trade office and one is a consular agency,” Aksoy said.
“We have 92 diplomatic missions in Europe, 70 in Asia, 44 in Africa, 29 in America, and four in Oceania,” he said.
Turkey’s latest missions were opened in Sierra Leone’s capital Freetown and Bolivia’s capital La Paz, Aksoy said.
The Foreign Ministry spokesman said that the number of Turkish diplomatic missions in Africa, which were 12 in 2002, have increased to 40.
Turkey plans to open a new mission in Equatorial Guinea’s capital, Malabo this year, Aksoy said. “We plan to further increase our representation in Africa in the coming period.”
According to Aksoy, Turkey’s foreign trade to African countries was $3.7 billion in 2002 while it is close to $19 billion currently.
He added that the ministry was working together closely with Turkey’s leading Anadolu Agency as it broadcasts in 13 languages.
He said that a total of 62,335 personnel work at Turkey’s diplomatic missions abroad at a variety of posts. The number of women ambassadors has increased, Aksoy said, adding a total of 51 of Turkey’s 255 ambassadors were women.
In 2002, when the ruling Justice and Development (AK) Party came to power, Turkey had 163 diplomatic missions abroad.
—AA
by admin | May 25, 2021 | Business Ideas, Entrepreneurship, Markets, Startup Financing, Technology, Your Business Plan
By Mehtap Yilmaz,
Ankara: The Scientific and Technological Research Council of Turkey (TUBITAK) and Global Environment Fund (GEF) will support entrepreneurs who work on innovation in clean technology, the council’s head has said.
TUBITAK President Prof. Ahmet Arif Ergin told Anadolu Agency: “Entrepreneurs who succeed in the Clean Innovation Program will be supported by a $3 million fund from the GEF and TUBITAK.”
The program, conducted with the United Nations Industrial Development Organization (UNIDO) under the financial support of the Global Clean Innovation Programme (GCIP), has been hosted by TUBITAK since 2014 in Turkey, he said.
Within the scope of the program, clean technology innovation is being encouraged, small and medium-sized enterprises (SMEs) and startups that work on energy and water efficiency, renewable energy, waste management, green buildings and transportation field, are being backed, he said.
According to UNIDO, the GCIP “promotes an innovation and entrepreneur ecosystem by identifying and nurturing clean-tech innovators and entrepreneurs; by building capacity within national institutions and partner organizations for the sustainable implementation of the clean-tech ecosystem and accelerator approach”.
Ergin said the program’s first phase was complete and entrepreneurs were receiving support in the fields of education and mentorship.
“Over 100 startups in energy and environment sectors have successfully the education,” he added.
He said a competition was being organized to raise awareness about the program’s success.
“Ideas which rank among top three will be rewarded with cash prizes and winners will represent Turkey in the Global Forum 2018 in Los Angeles and California,” he said.
He said invitation to the program’s phase two, which would be supported by the $3 million fund, would start next year.
TUBITAK — established in 1963 — is the leading agency for management, funding and conduct of research in Turkey.
“GEF is a private equity fund manager focused on resource productivity investments globally,” according to its website.
—AA
