Hosted by DEIK Outbound Investments Business Council and supported by Islamic Development Bankı (IsDB), FDI Center and Norton Rose Fullbright, Overseas Investments Forum was held in Istanbul on December 19, 2019 in Istanbul. Opening remarks were made by DEIK Outbound Investments Business Council Chairman Volkan Kara and Regional Manager of the Islamic Development Bank Group Regional Hub Turkey Salah Jelassi.
In the forum, the effects of possible international sanctions on the external assets of companies were discussed by Norton Rose Fulbright experts. Andreas Dressler, Managing Partner of Berlin-based Fdi Center, informed the participants about the location selection in foreign investments. The Overseas Opening Guide prepared in partnership with DEİK and Fdi Center was shared with the public.
You can access the report at https://www.deik.org.tr/contents-fileaction-20200.
Stating that Turkish foreign investments have grown more than 10 times in the last 15 years, DEİK / Outbound Investments Business Council Chairman Volkan Kara said, "Our companies have now started to prove themselves on a global scale and have strategically positioned globally rather than the mandatory conditions in the domestic market. We expect this trend to continue in the coming period. As a developing global player Turkey is increasingly carried out abroad M&A and greenfield investments abroad and scratches a certain standard especially after 2010. Outside on the post-2010 according to our calculations, Turkey's annual average international investments is around US $ 4 billion annually."This is certainly not enough. Foreign investments should definitely be included in our medium and long-term economic targets. We can reach annual capital export levels of over $ 10 billion "said.
In his remarks, Mr. Salah Jelassi also referred to the great emphasis that the leading multilateral development bank of the Muslim world places on fostering and promoting and promoting economic and social development of its member countries and Muslim communities in non-member countries.
"Under the IsDB Group President's Five-year Program (P5P) to transform the Bank to fit into a new development agenda, one of the core pillars is IsDB Group's aspiration is to support enhanced competitiveness and greater integration of its Member Countries into Global and Regional Value Chains", Mr. Jelassi explained.
The Islamic Development Bank (IDB) Group has been supporting Turkish exporters through strong cooperation with Turk Eximbank. The Group's cumulative financing support to Turk Eximbank amounts to more than US $3.3 billion. The sum includes $370 million financing by the IsDB and $2.9 billion financing by its trade financing arm, the International Islamic Trade Finance Corporation (ITFC).
According to Mr. Jelassi, collaboration with Turk Eximbank to boost export-related activities of Turkish contractors, midcaps and SMEs supports Turkey's aspiration to position itself as a global market leader through enhanced export competitiveness.
"Forign Direct Investment (FDI) acts as a powerful engine to enhance productivity, spread know-how, enable technology transfer, build new networks and open new markets and the IsDB Group would synergize its efforts to support broader integration of Turkish private sector companies into global value chains, which is so critical for enhancing their productivity and competitiveness," he elaborated.