Direct Arbil-Antalya flights to begin service soon

Posted by meb at April 24th, 2007

While the tension between Turkey and Iraq escalates, sparked by the leader of Iraq’s autonomous Kurdish region Massoud Barzani’s statements, businessmen think such tensions are only political polemics and that they are not affecting trade relations between the two countries.
 Şeyhmus Özkan, president of the executive board of Affan Air, said, “Iraqi people have an extraordinary trust in Turkish businessmen,” adding, “We will bring 20,000 Iraqis this year.” He also said they would begin so-called health (more…)

Posted in Airlines & Automotive| No Comments | 

Turkey benefits more from trade with EU

Posted by meb at April 24th, 2007

Widely criticized for damaging Turkey’s economic interests, Turkey’s customs union with the European Union has finally started to bear fruit for Turkey.
 Turkey’s exports to the EU are increasing, largely thanks to low tariffs and an absence of trade barriers, while its imports from European sellers have decreased considerably.In the last 10 years the share of EU countries in Turkey’s exports has grown from 49.7 percent to 51.6 percent. Similarly, its (more…)

Posted in Business World, Export & Import| No Comments | 

Samsun-Ceyhan oil pipeline to be completed in 3 years

Posted by meb at April 24th, 2007

With several large infrastructure projects in progress, such as the Black Sea coastline highway, the Marmaray metro project — which will cross the Bosporus Strait — the Baku-Tbilisi-Ceyhan oil pipeline, the Nabucco and many others, Turkey is rapidly checking off its to-do list of national projects.
 The latest item of the agenda, the Samsun-Ceyhan oil pipeline, is coming into the foreground with a groundbreaking ceremony in Samsun. The construction of the pipeline is planned to be completed in three years. (more…)

Posted in Export & Import, Uncategorized| 1 Comment | 

Çalık-Eni seeking Russian, Kazakh partners for TAPCO

Posted by meb at April 23rd, 2007

Çalık, one of Turkey’s leading industry groups, along with its Italian partner ENI, are looking for additional partners from Russia and Kazakhstan for their company Trans-Anatolia Petroleum Company (TAPCO), which is installing oil pipelines between Samsun and Ceyhan.

The partnership will be open to any interested company that has or probably will have oil production facilities in and around the Black Sea. Any oil marketing company that makes oil purchases from the Black Sea region but is in need of a competitive and low-risk way to transport their products to the Mediterranean will also have an opportunity to take part in the company. (more…)

Posted in Business World, Foreign Investments| No Comments | 

Most foreign capital in İstanbul flows to textiles

Posted by meb at April 23rd, 2007

Foreign-based companies established in İstanbul participated in the textiles more than any other industry last year, with the Netherlands ranked first in terms of both partnership numbers and capital inflows, according to İstanbul Chamber of Commerce (İTO) data.
 İTO announced the results of its “Evaluation of Foreign Partners and Foreign Capital Shares in Companies Registered to İTO” research on Sunday. According to the research, EU countries took the top three places among foreign-based companies established in İstanbul. The Netherlands came in first with 14.85 percent of the total, followed by Germany with 14.64 percent and England with 6.98 percent. (more…)

Posted in Export & Import, Foreign Investments| No Comments | 

Turkey’s LPG market size expands to $5 billion

Posted by meb at April 22nd, 2007

As liquefied petroleum gas (LPG) becomes more widely used, its market size in Turkey is growing.
 According to the Liquefied Petroleum Gas Market Report 2006, prepared by the Energy Market Regulatory Agency (EPDK), Turkey’s LPG market is worth more than $5 billion. The report was presented at a Friday meeting attended by EPDK Chairman Yusuf Günay and its LPG department head Güngör Azim Tuna.The report indicated that the LPG sector, established in the early 1960s in Turkey, is (more…)

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May 1st will be a turning point for realtors

Posted by meb at April 21st, 2007

Starting from May 1st, real estate agents without a certificate of authority will not be allowed to perform acts of title deeds, according to a circular issued by the Tapu ve Kadastro Genel Müdürlüğü (headquarters of the Land Registry).

“Real estate agents will have to obtain a certificate of authority, ID badge and a follow-up agreement from their association or Chamber of Commerce according to this circular,” said Mesut Güleroğlu, the president of The (more…)

Posted in Laws & Regulations, Real Estate| No Comments | 

New trade law to change Turkish trade guidelines

Posted by meb at April 21st, 2007

Along with its expected major effect on trade law in Turkey, the new Turkish Trade Law under discussion would also initiate a mandatory auditing system for Turkish companies. The law’s founder, Dr. Ünal Tekinalp, believes the law will bring Turkey in line with EU standards.

After sitting on the Parliament’s agenda since 2005, Turkish Trade law has finally been approved by the commission and is on the plenary (more…)

Posted in Business World, Laws & Regulations| No Comments | 

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