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Turkey

President Erdoğan vows to make Turkey center for scientists

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President Recep Tayyip Erdoğan has vowed to make Turkey a hub for scientists. “In the coming period, we will make our country a much more important center for all scientists. This development also means that the ashes on civilization will begin to scatter and the fire will begin to ignite,” Erdoğan said at the commemoration day of the late academic ... Read More »

Turkey grapples with big trade deficit with China

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President Donald Trump has stepped up his trade war on China after the United States’ trade deficit in goods with China hit a record $419.2 billion last year. US exports to China were worth $120.3 billion, while its imports were 4.5 times bigger, totaling $539.5 billion. Turkey, saddled in relative terms with a worse trade deficit with China, has begun ... Read More »

EP might become more right-wing and anti-Turkey: Experts

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A significant rise of European right-wing parties will only worsen an already stagnated relationship between European Union and Turkey, according to Nilgün Arısan, director of the Center of European Union Studies at the Economic Policy Research Foundation of Turkey (TEPAV). The influence of parties such as Hungarian Fidesz, German Alternative für Deutschland and Italian Lega Nord has already affected issues ... Read More »

Turkey seeks 249 suspects over cheating at ministry exam

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ANKARA, Turkey : Authorities in Turkey have issued detention warrants for 249 people as part of an investigation into alleged cheating during exams to recruit staff to the country’s foreign ministry between 2010 and 2013. The Ankara Chief Prosecutor’s office says 91 of the suspects were detained on Monday. The suspects are believed to have links to the network led ... Read More »

Would a customs union with the EU really be so terrible?

Rotterdam is preparing for the Brexit. The consequences of the departure of the United Kingdom from the European Union will clearly be felt here. For example, additional customs formalities and food and goods inspections are required from 30 March 2019. Rotterdam, Netherlands, on September 12, 2018.(Photo by Robin Utrecht/Sipa USA)

There is little the UK’s increasingly polarised Leave and Remain tribes agree on, but the horror of a UK-EU customs union “compromise” seems to be one such rare beast. It feels like every day there is an article on how bad this will be, how the UK will be economically and politically damaged, possibly irrecoverably, if it signs up to ... Read More »

Greek foreign minister: EU should keep door open for Turkey

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Greece’s Foreign Minister Georgios Katrougalos wants Brussels to keep the door open for Turkey to join the bloc. In an interview with POLITICO, he said that he still believes Turkey’s future is in the European Union despite the country’s descent into authoritarianism and its controversial decision to drill for gas in Cypriot waters. Some countries, such as Austria, say the ... Read More »

Turkey should start reforms immediately: Business body

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Reforms in capital and labor markets, taxation, and education should start without delay, the head of a Turkish business body said on Wednesday. “Even if these reforms will bear results in the medium term, they will produce confidence building effects in the short term,” Simone Kaslowski, the Turkish Industry and Business Association (TUSIAD), told a high advisory meeting in Istanbul. ... Read More »

Turkey imposes tax on all imported e-commerce goods

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Turkey will charge import taxes on all goods ordered from abroad, with the exception of books, abandoning an existing waiver for lower value items. The government was responding to complaints from local businesses that previous arrangements created unfair competition. Turkey will impose import duties of up to 20 percent on the e-commerce goods, as well as other items arriving by ... Read More »

Turkey continues to support business people: Minister

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Turkey continues to stand behind business people through new projects, the industry and technology minister said Tuesday. Mustafa Varank’s remarks came after Turkey’s statistical authority announced industrial production had soared 2.1% month-on-month in March. “Rise in capital goods and intermediate goods, which contributes positive course, reflects real sector’s confidence in Turkish economy,” Varank said in a tweet. Varank underlined that ... Read More »

Pak-Turkey FTA to be signed by mid June

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ISLAMABAD – The Free Trade Agreement between Pakistan and Turkey is likely to be signed by mid of June, a senior official in ministry of Commerce said. The decision in this regard was made after the conclusion of 9th round of negotiation between the two sides. Talking to APP, the official informed that during the last round of negotiation the ... Read More »

Franklin Templeton in Talks to Buy Abraaj’s Turkey Business

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U.S. asset management firm Franklin Templeton Investments has been in exclusive talks to take over the Turkish operations of Dubai-based private-equity firm Abraaj Group, according to a person familiar with the matter. The publicly traded investment manager has been negotiating for a portfolio of assets that include a stake in online retail group Hepsiburada and logistics company Netlog Lojistik Hizmetleri, Read More »

Erdogan says Turkey will stick to its programme in the East Med

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As a Turkish drillship remained in Cyprus’ exclusive economic zone (EEZ) on Tuesday its President Recep Tayyip Erdogan said the country will continue to implement its programme in the Eastern Mediterranean and is trying, as a guarantor, to safeguard the rights of Turkish Cypriots in the south-eastern Mediterranean. “All the people of Cyprus own what emerges from these waters, those ... Read More »

French PSA Group chooses Turkey as pilot country for restructuring

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One of the leading car manufacturers, PSA Group, has chosen Turkey as its pilot country for restructuring. The French automaker has recently merged its Peugeot, Citroen, DS and Opel brands under a single roof for the first time in Turkey. The operation, which started in September 2018, was completed on April 1, 2019, with Opel moving from İzmir to Istanbul, ... Read More »

Cyprus ‘taking action’ over Turkey’s EEZ incursion

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Cyprus is taking diplomatic steps to respond to Turkey’s latest incursion in the Republic’s exclusive economic zone (EEZ), the government stated on Monday as it sought an international arrest warrant for the crew of the Turkish vessel said to be poised to commence drilling for hydrocarbons. Speaking to reporters after a cabinet meeting at the Palace, foreign minister Nicos Christodoulides ... Read More »

Turkey’s relations with Sudan may enter a new era

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The military coup that deposed Sudanese President Omar al-Bashir may usher in a new era in Turkey-Sudan relations. The situation continues to be precarious in Sudan and the coup leaders seem to be hesitant about how to handle the demonstrators’ demands. Major Arab countries such as Egypt, Saudi Arabia and the United Arab Emirates supported the April 11 military coup, ... Read More »

Volume of cargo transshipment from Russia, Iran via Turkish ports exceeds 13 million tons

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In March 2019, the volume of cargo transshipment from Russia and Iran through the ports of Turkey amounted to 13,688,726 tons, Trend reports referring to the Turkish Transport and Infrastructure Ministry. During this period, the volume of cargo transshipment from Iran through the ports of Turkey amounted to 1,461,308 tons. In March 2019, the volume of cargo transshipment from Iran ... Read More »

Turkey Exceeds Defence Export Target as Industrial Capabilities Continue to Grow, says Jane’s by IHS Markit

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LONDON:The latest analysis from Jane’s Defence Budgets, a product from business information provider IHS Markit (Nasdaq: INFO), highlights that Turkish defence exports have exceeded their USD2 billion target, with sustained success in export markets aided by enhanced investment in defence research and development. “Turkey exceeded its 2018 USD2 billion target in aerospace and defence exports, with continued development of markets ... Read More »

Turkey aims to become key player in global grain sector

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Turkey is poised to become a major player in the global grain industry, thanks to its growing flour and licensed warehousing sector, the head of Turkish Flour Industrialists’ Federation (TFIF) Günhan Ulusoy said Friday. Turkey needs more licensed warehousing infrastructure to shine in agricultural products export, Ulusoy told the 15th TFIF International Congress and Exhibition held in the southern resort ... Read More »

Turkey to remain on Sudan’s Suakin Island for civilian purposes

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Reports alleging that the deal between Turkey and Sudan for the reconstruction and restoration of the historic Suakin Island on the Red Sea coast could be canceled do not reflect the truth, Turkish Foreign Ministry Spokesperson Hami Aksoy said Friday. In a written statement released by the ministry, Aksoy said that the deal between Ankara and Khartoum is related to ... Read More »

Turkey, US establishing trade working group: Minister

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Turkish and US trade ministries are establishing a working group to achieve bilateral trade volume target, the country’s trade minister said. In February, Turkish President Recep Tayyip Erdoğan and U.S. President Donald Trump agreed to further enhance economic relations, setting a goal of $75 billion in bilateral trade. “We are working on […] export booster activities especially in high technology ... Read More »