Category: Business

Turkey invests $6 billion in Azerbaijani economy

Azerbaijan, Baku, April 28 / Trend, A. Akhundov /

Turkey ranks first for investments in Azerbaijan’s non-oil sector, Azerbaijani Economic Development Ministry Administration Chief Samir Veliyev said in Baku today at a conference on the Azerbaijani-Turkish cooperation on the topic of ‘Socio-Economic Development in the Globalizing World”.

“Today, more than one thousand Turkish companies successfully operate in different sectors of the Azerbaijani economy,” Valiyev said. “The amount of Turkish investments in Azerbaijan has hit about $2 billion since 2002,” he added.

The potential of Turkish-Azerbaijani relations allows significant increase to the current volume of trade turnover, the head of the Main Department on Foreign Economic Relations of the Turkish State Planning Organization Metin Eker said.

“Trade turnover between the two countries in 2010 reached $2.5 billion, whereas in 2005 this figure hit $800 million,” Eker said.

He said that in general the Azerbaijani entrepreneurs’ investments in Turkey amounted to three billion dollars, and “the main spheres of the Azerbaijani businessmen in Turkey are the petrochemical complex and tourism”.

The total volume of Turkish investments in Azerbaijan’s economy hit $6 billion, Eker said.

So far, Turkish companies have signed contracts on 237 projects in Azerbaijan.

“We believe that these figures will increase. Turkey is pleased with Azerbaijan’s economic success,” Eker said.

Reports on economic models used by the Turkish State Planning Organization, on the role of the balance model in strengthening the scientific basis of socio-economic policy, management, monitoring of investment programs and the fight with poverty were presented at the conference.

via Turkey invests $6 billion in Azerbaijani economy | Economy & Business news | Trend.

April 30, 2011
Turkey’s Karsan offers to build taxis in Brooklyn

* Competing with Ford, Nissan to make NYC’s next taxi

* Would reverse trend of exporting manufacturing jobs

By Daniel Trotta

NEW YORK, April 25 (Reuters) – Turkish manufacturer Karsan has promised to assemble cars in Brooklyn if it wins New York’s “Taxi of Tomorrow” concession, potentially returning auto making to the city for the first time in a century.

Karsan is a finalist along with Nissan and Ford to build a taxi cab that would replace the 16 models now authorized, a contract estimated to be worth more than $1 billion over 10 years.

The city’s Taxi and Limousine Commission will announce the winner “in the very near future,” a spokesman said.

Karsan’s bid had gained notice mostly because of its design for a transparent roof for better sight-seeing and a ramp that would make it wheelchair accessible off the factory floor. The Ford and Nissan models are not wheelchair accessible, the commission said.

Putting an auto assembly plant in Brooklyn would be a step toward addressing a lament commonly heard throughout the recession of 2007-2009: the United States has lost too many manufacturing jobs.

The proposal to build Karsan taxis in Brooklyn was first reported by the New York Daily News.

“New York City was the manufacturing capital of America in 1960. There hasn’t been an industrial project that I can think of since then,” said William Wachtel, president of Karsan USA.

The cars would be made with union labor that would be cost effective because of efficiencies in the Karsan assembly process, Wachtel said.

In 1900 there were six factories with 500 employees making cars in New York City, mostly electric or steam driven, according to historian Kenneth T. Jackson, editor of “The Encyclopedia of New York City.”

“By 1916, the internal combustion engine had won the battle, and so far as I know New York manufacture had ended,” Jackson said.

Brooklyn Borough President Marty Markowitz has become an enthusiastic advocate for the Karsan bid, though the decision rests with the commission.

“Here would be something novel: a foreign manufacturer, Turkish, actually manufacturing right here, putting Brooklynites and New Yorkers to work,” Markowitz said. “That would say something that the rest of the world might want to (notice) very carefully.”

Wachtel said the plant would be able to build 10,000 units a year, compared with the 3,000 per year needed for New York City taxis.

The excess would be sold as taxis in other cities and for the U.S. retail market, which requires 16,000 wheelchair-accessible cars a year, Wachtel said. (Reporting by Daniel Trotta; editing by Michelle Nichols)

via Turkey’s Karsan offers to build taxis in Brooklyn By Reuters.

April 26, 2011
Eased Visa Regulations from Turkish Airlines

Citizens flying Turkish Airlines from 46 countries in sub-Saharan Africa will be granted visas at Istanbul’s Ataturk airport if they also have valid Schengen, UK or US visas in their passports.

Among those sub-Saharan Africa countries are Angola, Burundi, Eritrea, Ethiopia, Ghana, Kenya, Gambia, Cameron, Comoros, Congo, D. Congo, Melawi, Niger, Nigeria, Ruanda, Senegal, Somali, Sudan, Tanzania, Uganda, Zambia and Zimbabwe.

With the reinforcement of this new regulation a boom in the commercial ties and the number of passengers flying Turkish Airlines is being expected.

Emphasizing on the efforts for eased visa regulations Mr. Hamdi Topcu, the Chairman of Board of Directors of Turkish Airlines, said “It has been difficult for citizens to apply for visa because of the remote locations of Turkish Embassies in many countries in Africa. With the attempt of Turkish Airlines eased visa regulations have been agreed on and reinforced by both Interior Ministry and Foreign Affairs Ministry. Our President and our Prime Ministered did contribute to the positive outcome of this issue as well. We kindly thank them. The implementation of this decision regarding eased visa regulations for citizens of those African countries with Schengen, UK or US visas in their passports will increase the keen interest to both for Turkey and Turkish Airlines.”

The rules of eased visa regulations for citizens from sub-Saharan African countries are as follows:

* Valid passport,

* Date of expiration should have minimum 6 months of period,

* They should have valid Schengen, UK or US visas in their passports and have not being rejected or deported by those countries before,

* They should be traveling on tourism or business purposes and should have necessary documents (hotel reservation, sufficient monetary funds such as amount of $50 per diem, etc),

* Round-trip flight ticket from Turkish Airlines,

* They should not be among those who were forbidden entering Turkey or have been deported by Turkey before.

Businessmen from SAGA countries are going to be granted six-month valid single entry visas giving a 30 day residence permit in exchange for 20 Dollars or 15 Euros provided that they arrive in Turkey for holiday or within the framework of business or trade talks and are also the bearers of valid Schengen, UK or US visas.

Published by Ozgur Tore

April 26, 2011
Thuraya… The Race Is On…

Thuraya… The Race Is On… (SATCOM)

[SatNews] This 3,000 km race starts in Darwin and ends in Adelaide, and this university team is going to be highly reliant upon this Company’s SATCOM products…

Thuraya Telecommunications Company will be sponsoring the Istanbul University Solar Race Team in the World Solar Challenge across the continent of Australia. During this week-long international green technology initiative, the Turkish racers will be depending on Thuraya IP and Thuraya XT as their full communication solutions.

There are 11 countries participating in this car race which takes place on a bi-annual basis. Thuraya provides ubiquitous coverage over Australia and Tasmania, even in remote areas through its satellite network, all within the Thuraya-3 satellite coverage area that spans the Asia Pacific region. Thuraya is coordinating with Turkish communications specialists TEKNOMOBIL for the provision of equipment to the Istanbul University Team. TEKNOMOBIL are also a long-standing Thuraya service partner. Thuraya XT IP54/IK03 certified making it dust, splash water and shock proof. It has the fastest data service on a satellite handheld and supports GPS waypoint navigation. Thuraya IP is A5 sized and is the world’s smallest satellite broadband solution that supports 384 Kbps data streaming — based on a plug and play system facilitating use without additional software. The terminal provides asymmetric streaming allowing users to freely select upload and download speeds for cost-effective service.

via Thuraya… The Race Is On… (SATCOM) : Satnews Publishers.

April 25, 2011
India, Turkey to discuss FTA to boost bilateral trade

India, Turkey to discuss FTA to boost bilateral trade

Press Trust of India / New Delhi April 19, 2011, 19:00 IST

Turkey today said it will discuss opening up of their markets with India under a free trade agreement (FTA).

“We will be discussing issues relating to non-tariff and tariff barriers under FTA with Indian authorities,” Turkish Trade Minister Zafer Caglayan said here in his address to India-Turkey Business Forum.

Both the countries are exploring the possibility of FTA to boost bilateral trade.

The current two-way commerce is $3.14 billion and experts said an FTA between the two would significantly enhance the trade.

Major imports from Turkey comprise minerals, fertilisers, nuclear reactors and machinery, while exports include pharma, manmade yarn and electronic goods.

Besides, the visiting minister asked Indian corporates to make investment in Turkey because of its strategic geographical location and potential for economic growth.

Referring to sectors where investment can be made in Turkey, Caglayan said his country has plans of huge investments in energy sector in the next 10 years.

About $120 million would be invested in the energy sector, he said.

April 20, 2011
Turkey eases visa requirements for African businessmen

Turkey has said it will grant visas at border gates for businessmen from African countries for stays up to 30 days if certain conditions are met as part of its ongoing efforts to facilitate visa requirements for African businessmen.

The Foreign Ministry said in a statement released on Tuesday that Turkey has decided to issue visas at the entry point in İstanbul’s Atatürk International Airport starting today for businessmen and citizens from 46 African countries who travel with Turkish Airlines (THY) and for businessmen who hold a valid 6-month Schengen, British or American visa. This will be applicable to the citizens of 46 sub-Saharan African countries, including Angola, Chad, Somali, Sudan, Uganda, Kenya and Nigeria.

The statement also said Turkish authorities will consider those who enter Turkey for tourism purposes or on business to be eligible to obtain a visa at Atatürk International Airport if they also have the necessary documents in line with their travel purpose such as a hotel reservation, sufficient financial funds for the duration of their stay ($50 per day) and a roundtrip ticket from THY. They will also be required to pay 15 euros, or $20, as a visa fee.

The statement also added that citizens of the African nations included on the list should have entered the US, the UK or a Schengen-area country at least once prior to their arrival in Turkey and that they should not have been denied entry or deported from these countries in order for their visa, of at least six months, for these three areas to also be applicable for entry into Turkey.

April 20, 2011