ADEM ORHUN / ISTANBUL COMMERCE In 2015, Turkey assumed the Rotating Presidency of G20, a club of leading developed countries of the world. Last year's G20 agenda was set by Turkey, with reference to inclusiveness, implementation, and investments, turning a new page towards new horizons. Turkey, with a will to secure support for the presence of Small and Medium Scale Enterprises (SMEs) in the global markets, emphasized the fact that this would contribute to welfare all around the world. 2015 was also the scene of a meeting of ministers of energy of G20 countries, representing a first of its kind. Sensitivities and proposed solutions regarding the access to energy, a global concern, was discussed under the leadership of Turkey. In the meeting held on 1-2 October, 2015, the ministers of energy reached an agreement on 'Inclusive Cooperation on Energy'. Ministers of agriculture, on the other hand, met for the first time since 2011. Another first for the agenda of G20 was wasted and lost food in developed and developing countries. The G20 Summit in Antalya was held on 15-16 November, as the climax of events held throughout the year, on the development of countries and enhancing global welfare. The efforts of Turkish rotating presidency also led to the inclusion of an extension group titled 'Women-20' (W20) to the framework of the summit of global leaders. LEADERS' DECLARATION The summit in Antalya culminated in the declaration by G20 Leaders. The declaration emphasized the need for concrete steps for development, employment of women and youth, and supporting entrepreneurs. The declaration also underlined the need for more active efforts against the severing of finances of terror. The call to the ministers and Central Bank Chairmen of G20 countries asked them to report the steps taken to identify the weaknesses which enabled the support for terror, by the first meeting in 2016. CALL REGARDING REFUGEES G20 was also the scene of discussions on the refugee crisis the Western Europe had also faced due to the Syrian Civil War in particular. The summit saw a declaration by G20 extension groups, about the refugee crisis. The G20 extension groups representing the business world (B20), civil society (C20), workers and labor unions (L20), academic world (T20), women (W20), and youth (Y20), stated their deep concerns about the refugee crisis. The declaration stated "We believe in the need for a more robust collective action on this issue." The extension groups called the leaders of the states to support the development programs in Lebanon, Jordan, Iraq and Turkey which host the majority of Syrian refugees. THE THREAT OF TERROR ON GLOBALIZATION The leaders who attended the G20 summit held in Antalya, Turkey reached a resolve on a strong declaration on the fight against terror. The statement draw attention to terrorist attacks at Paris and Ankara, and noted that "These are an unacceptable affront to all humanity. The spread of terrorist organizations and significant rise globally in acts of terrorism directly undermine the maintenance of international peace and security and endangers our ongoing efforts to strengthen the global economy and ensure sustainable growth and development." LOW-INCOME COUNTRIES Turkey put the theme 'inclusiveness' to the center stage during its rotating presidency of G20. The need to extend robust, sustainable and balanced global growth to all countries was underlined. Turkish presidency of G20 noted "Low-Income Developing Countries are substantial sources of current and future supply and demand" and added "the integration of LIDC with global economy as the path to prosperity should be encouraged, not only as a moral obligation, but also for the sake of sustainable and balanced growth of the global economy. Focusing on the applicability of the work of G20 on developing countries is crucial in terms of global development efforts within the framework of Sustainable Development Agenda 2030."

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The projects of an international nature will underline the European capital character of Istanbul even further. Having drawn attention as the 2010 European Capital of Culture, is set for integration with the global economy, as a center of finance, tourism, and culture, once the international transportation projects to have an impact on neighboring markets as well are completed. Once mega projects are completed, the whole world will be able to make better use of the added value of Istanbul. THREE FLOORS UNDER THE SEA The "3-Floor Great Istanbul Tunnel Project" drawn up to improve the traffic picture of Istanbul is about to enter the tender stage. The tunnel will take two highways and one underground line under the strait, and will have a total length of 6.5 kilometers under the sea. Once the project is completed, Istanbulites will be able to cover the whole route running 31 thousand meters in just 40 minutes. Furthermore, the project will help reduce greenhouse gas emissions by 115 thousand tons. The underground system to run through the line is intended to carry 1.5 million passengers each day. The project which is currently in the tender and system construction model selection stage is projected to be completed by 2020. TWO STRAITS TO RUN THROUGH ISTANBUL The Bosphorus, which connects the Black Sea and Marmara Sea, providing a strategic outlet to the Aegean and the Mediterranean, will be doubled through the Channel Istanbul project. The project to be built on the European side of Istanbul will make it a city with two straits.The width of the 40 km long and 24 m deep channel will be 200 meters. The project will help transfer some of the busy traffic of the Bosphorus, to the new strait. GLOBAL LEADERSHIP IN AIR TRAVEL The 3rd Airport to become a global leader upon completion, with a passenger capacity of 150 million, will be built on an area of 76 million square meters. The airport is to be completed in 4 stages. Once the project is completed, the airport will have a total of 6 runways, one of which will serve cargo flights. The project will make Istanbul a hub of inter-continental air travel. A MARVEL OF ENGINEERING The excavation works for the Eurasian Tunnel Project, which is one of the most acclaimed engineering projects of the whole world, are now completed. Two continents were connected under the sea bed through the efforts of the excavation machine digging 3.344 kilometers under the Bosphorus. The Eurasian Tunnel to serve on the Kazlıçeşme-Göztepe line will cut the travel time on such a busy route to as little as 15 minutes. The project will be completed by December 2016. The 3.4 kilometers long Bosphorus tunnel comprises the most important stage of the project comprised of three major sections, running for a total of 14.6 kilometers. The Eurasian Tunnel Project is considered one of the unparalleled engineering marvels of the world, given its technical specifications. ANKARA AND ISTANBUL WILL GET CLOSER Another important project for Istanbul will be the Ankara-Istanbul High-Speed Train project to reduce the travel time between the two cities to just 1 hour and 15 minutes. The plans are in place to have the project section from Ankara-Sincan to Köseköy built on the basis of Build-Operate-Transfer model. The said route will be built in exchange of a concession granted to the firm that builds it. From Köseköy on, however, the concession recipient will be allowed to utilize the railway line running to the 3rd bridge, the 3rd airport, and eventually to Halkalı. NO MATCH IN HEIGHT A marvel of engineering and technology, the 3rd Bridge over the Bosphorus, Yavuz Sultan Selim Bridge will carry 8 lanes of highway and two train tracks to the opposite continent. Its aesthetics as well as technical specifications will make the bridge will be a rare structure worldwide. The 59 m wide structure will be the widest suspension bridge. It will also be the longest suspension bridge with a rail track, with a main span of 1408 meters. Another ground to be broken by the bridge will be in the highest tower a suspension bridge was ever equipped with, boasting a height of more than 322 meters. The construction for the 3rd Bridge over the Bosphorus began in 2013, and is scheduled to be completed this year. The rail system built on the bridge will carry passenger traffic on a route running from Edirne to İzmit. The rail system will be integrated with Marmaray and Istanbul Underground system, and will also connect Atatürk Airport, Sabiha Gökçen Airport, and the new 3rd Airport to be built.

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One of the most important neighborhoods of the historical peninsula, Sirkeci, will be revitalized through the project.The project entails plans for a complex containing a convention center, commerce areas, hospitality facilities, observation platform, and parking lot, on the current site of the Liman Han owned by Istanbul Chamber of Commerce, Güneş Han owned by TOBB, and the parking lot currently shared equally by TOBB and ICOC. A LASTING MONUMENT İbrahim Çağlar, the President of ICOC said the following about the project: "Through this project, ICOC intends to leave a lasting monument for Istanbul, one that would make us proud. We believe in the need to make the Historical Peninsula, which had a history of 8,500 years, a center of attraction once again. We also intend to build over the assets of Istanbul Chamber of Commerce, and uphold its existing rights and property." WILL HAVE AN IMPACT ON THE WHOLE AREA Noting that the project will go beyond a simple construction project, and will completely transform the neighborhood, and will make Istanbul even more precious, Çağlar added "Five firms submitted bids in the tender. The best bid was submitted by Gül İnşaat, undertaking to complete the project and construction within 3.5 years, and operating it for 11.5 years, at a net annual figure of TRY 11.8 million. The bid was submitted to other bidders as well. However, none of the other bidders were able to submit bids in excess of TRY 11.8 million".

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Since 2009, Turkish Airlines offers free tours of Istanbul to transit international passengers who have connecting flights with Turkish Airlines. The tour of Istanbul which contributes immensely to the promotion of Turkey and which leaves participants extremely delighted, also receives substantial support from the tourism sector. According to the data provided by Turkish Airlines Tour Marketing Department, to date, 78 thousand transit international passengers enjoyed the service. For the transit international passengers be eligible for the tour of Istanbul, all connecting flights should be Turkish Airlines flights. A transit period of 06-24 hours at Istanbul is yet another requirement. 4 TOURS PER DAY The free tours providing the opportunity to see many historical monuments of Istanbul in a short time frame, are offered in the company of a professional guide. Turkish Airlines also provides breakfast and lunch for the tourist participants, and covers their transfer, museum and landmark admission fees, as well as guide fees. The tours offered with modern vehicles start twice a day, and visit Kariye Museum, Topkapı Palace, Blue Mosque, Hagia Sophia, Hippodrome Square, and Archaeology museums. HOW TO APPLY? Turkish Airlines newsletters, its website turkisairlines.com, sales offices and the agencies provide information about the tour to eligible passengers. Interested passengers send mails to the site istanbulinhours.com, and are then called back by tour organizers. Any last-minute requests made by calling the hotline +90 507 753 01 38 are also accommodated on a 7/24 basis.

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CEYHUN KUBURLU / ISTANBUL COMMERCE The share of Turkish teams in the European cake of football grows each week. The worth of individual teams are also on the rise in the Super League which reached a worth of EUR 1 billion by the season 2014-2015. 3 Turkish teams made it to this year's top 50 European clubs in terms of the value of their squads. Fenerbahçe ranks high with a value in excess of EUR 160 million, while Beşiktaş scored a respectable EUR 120 million. Galatasaray trails just behind Beşiktaş, with a figure of EUR 118 million. The experts expect these figures to grow even further, due to the impact of Euro 2016 tournament. FOLLOWING RIGHT BEHIND THE TOP 5 LEAGUES Turkish teams made some important strides into player exports to Europe in 2015, and are now the talk of the town given the value they command. The young talents and foreign stars the teams have certainly help increase the market value of Super League. This year, for the first time in its history, Super League surpassed the figure of EUR 1 billion, and became the 6th most valuable league of Europe. The top of the list is occupied by the Premier League, followed by La Liga, Serie A, Bundesliga, and Ligue1 of France. Super League, is followed by the Russian, Portuguese, Dutch and Belgian leagues. SURPASSED MANY GIANTS The younger squad Beşiktaş put to the field, and the stars transferred by Fenerbahçe brought the two clubs to a record-breaking transfer fees value for the two teams, and took them to the list of top 50 European teams. Fenerbahçe ranked 37th with a figure of EUR 160 million, while Beşiktaş and Galatasaray ranked 46th and 47th with respective figures of EUR 120 million and EUR 118 million. Fenerbahçe surpassed many Spanish, German and British clubs. REAL MADRID RANKS TOP The top most valuable teams on the list were Real Madrid, Barcelona, and Bayern Munich. Real Madrid of Spain was also the most valuable team of the whole world. The leading club of Europe with a squad value of EUR 714 million was actually valued more than the total worth of numerous leagues worldwide. The second spot on the list was occupied by Barcelona, which recently transferred Arda Turan as well. A most widely watched team worldwide, Barcelona commands a value in excess of EUR 689 million. Bayern Munich also sprinted substantially in the rankings, achieving a figure of EUR 617 million. On the other hand, the Premier League of Britain draw attention with 5 teams in the top 10. 18 BILLION EUROS IN REVENUE Football ranks among the top in sectors managing to register growth despite the economic blues in Europe. The football market in Europe continued its growth in recent years, and reached to approximately EUR 18 billion. Super League ranked among top 10 European football leagues in terms of revenues. Those in the know state that the interest and loyalty of the fans play a major part in rendering football leagues resistant to the crisis, and add "This keeps football an attractive market in the eyes of sponsors and broadcasters. Football defies the crises in terms of revenues. However, naturally keeping costs under control is crucial. On the top of the list of such costs are transfer fees and wages."

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