Turkey assumed the presidency of the Group of 20, with a membership covering from Germany to South Korea. Noting the assumption of the presidency after a busy preparation period, the Deputy Prime Minister Ali Babacan said “Presidency is an elected position. It is not possible to get elected, even if only a single country opposes the election. 2 years ago, we worked diligently for election to the presidency, and lobbied thoroughly, discussing the potential with many of the members.” SUSTAINABILITY Babacan noted the major topics on the agenda of G20 as strong sustainable and balanced growth, infrastructure investments, financial regulation, international financial structure, international taxation, energy, trade, employment, development, financing of climate change, and the fight against corruption. Ali Babacan emphasized 3 keywords to describe Turkey’s presidency: “inclusion”, “implementation”, and “investment”. INCLUSION Noting a two-pronged perspective regarding inclusion, Babacan argued that they would be working first on policies to increase labor productivity at a global scale, hence questioning why the labor’s share of GDP is in a falling trend, and added that, in this context they would have a special emphasis on the problems of SMEs, which play a major role in reducing unemployment. He also mentioned the diligent efforts they will put in the work to increase the employment of women and youth. Babacan also pointed at the problems of developing countries in the low-income group on the international scale, as the second dimension of inclusion. IMPLEMENTATION Underlining their will to focus on the implementation of growth strategies already in the agenda of G20, Babacan said “we will work hard to ensure implementation regarding the action plans to ensure financial regulations and international tax reform, and transparency, as well as the major decisions taken in other fields. We will oversee implementation.” INVESTMENT Babacan noted their intent to identify the infrastructure investments required to increase the growth potential of economies, and to realize such investments through the application of optimal finance models. He also pointed out that investments are crucial not only for developing countries, but also for developed ones. Babacan noted that the 10th summit of G20 would be held next year, on November 15-16, in Antalya. B20’S SIGHT SET ON SMEs The presidency of G20’s business world (private sector) arm, B20, was assumed by Rifat Hisarcıklıoğlu, the President of the Union of Chambers and Commodity Exchanges of Turkey (TOBB). Hisarcıklıoğlu said “Turkey’s single most important contribution to B20 will be the formation of a new task force in the ‘SMEs and Entrepreneurship’ area. We will ensure that B20 is no longer under the monopoly of large corporations and multinationals. The SMEs need the support of G20”.

29 Eylül 2015 Salı

Jewelry is a major passion of mankind, dating back to prehistoric age. The use of jewelry began perhaps 30 thousand years ago, in the upper Paleozoic age. The archaeological excavations in Turkey reveal that the use of metal-based jewelry began around 7000 BC. Anatolia’s wealth of mineral diversity and the influence of numerous civilizations throughout the history brought along an immensely rich and unique culture of jewelry. Of course, as demand for jewelry grew, so did technology, culminating in today’s scene which is based on the heritage of thousands of years. Up until recently, jewelry was produced in jeweler workshops, based on experience and know-how transferred from father to son. However, in line with ever increasing demand and global competition, the need to apply science and technology in the production of jewelry arose in Turkey as well. Today, Turkey reached a point where it competes against the leading producers of jewelry in the whole world. It is actually in top five in gold jewelry production. ENGLISH AS THE MEDIUM OF INSTRUCTION As the production volume of the jewelry industry grew rapidly, so did the need for qualified personnel. Against this background, Istanbul Commerce University founded by Istanbul Chamber of Commerce in 2001, opened the Department of Jewelry Engineering in 2010, representing a first in both Turkey and the world, in response to the demand voiced by Istanbul Chamber of Commerce’s Jewelry Profession Committee, Istanbul Chamber of Jewelers, and the leading names of the industry. The department is unique as it is the only institution offering such a degree in the whole world, and currently has 70 students. In addition to the engineering curriculum, the students are offered English language courses, to train them as manufacturing director engineers at jewelry workshops and factories. Such courses include international finance, gemology, metallurgy and material science, 3D jewelry design, automation in production, and diamonds and precious stones. Each year, the department takes part in the international jewelry fair. The Department of Jewelry Engineering not only raise qualified engineers, but also assist the industry on R&D and productivity studies, with its most valuable academic staff. Given the shortage of trained engineers in the jewelry sector, the students of the department have already guaranteed jobs waiting for them to graduate. GEM CUTTING WORKSHOP Istanbul Commerce University is also home of the only Gem Cutting Workshop of Turkey. Moreover, the Application and Research Laboratory at Kuyumcukent (Jewelers Town) in Yenibosna also provides technical and scientific studies required by the industry. The trainees, many of whom are employed at Kuyumcukent are also provided Computer Assisted Jewelry Manufacturing (Matrix 7.5) and Jewelry Design and Drawing Techniques courses. The Diamond Laboratory, on the other hand, in only the second laboratory established in Turkey in this field. The new Gem Cutting Workshop is also the venue of the Hearing the Spell of Gems project, designed for youth with hearing disabilities. The first group of trainees are currently receiving training within the framework of the project supported by the Jewelry Exporters Association and Istanbul Development Agency.

28 Eylül 2015 Pazartesi

Turkey’s Investment Incentives scheme is specifically designed to foster investments with the potential to reduce dependency on the import of intermediary level goods vital to the country’s strategic sectors. Primary objectives of the new investment incentives scheme are as follows: reduce the current account deficit, boost investment support for lesser developed regions, increase the level of support tools, promote clustering activities, and support investments that will enable technology transfer. 4 MAIN SCHEMES FOR INCENTIVES Effective as of January 1, 2012, the new investment incentives system sets out the following four schemes: for use by local and international investors: 1. General Investment Incentives Scheme 2. Regional Investment Incentives Scheme 3. Large-Scale Investment Incentives Scheme 4. Strategic Investment Incentives Scheme 1- GENERAL INVESTMENT INCENTIVES SCHEME Regardless of the investment locality, all projects meeting both the specific capacity conditions and the minimum fixed investment amount are supported within the framework of the General Investment Incentives Scheme. Some types of investments are not eligible for the investment incentives system and would not benefit from this scheme. The minimum fixed investment amount isTRY1 million in Region 1 and 2, and TRY 500,000 in Regions 3, 4, 5 and 6. Major investment incentive instruments are: * Exemption from customs duties: Customs tax exemption for imported machinery and equipment for projects with an investment incentive certificate. * VAT exemption: VAT exemption for imported or domestically purchased machinery and equipment for projects with an investment incentive certificate. The supportinstrumentsto be provided within the framework of the various investment incentives schemes are shown in the following table: *Provided that the investment is made in Region 6. **Provided that the investment is made in Regions 3, 4, 5 or 6 within the framework of the Regional Investment Incentives Scheme. ***For construction expenditures of strategic investments with a minimum fixed investment amount of TRY 500 million. 2- REGIONAL INVESTMENT INCENTIVES SCHEME The sectors to be supported in each region are determined in accordance with regional potential and the scale of the local economy, while the intensity of support varies depending on the level of development in the region. The minimum fixed investment amount is defined separately for each sector and region with the lowest set at TRY 1 million for Regions 1 and 2, andTRY500,000 for the remaining regions. The terms and rates of support provided within the Regional Investment Incentives Scheme are shown in the following table. 3- LARGE-SCALE INVESTMENT INCENTIVES SCHEME 12 investment topics that have potential to foster Turkey’s technology, R&D capacity and competitiveness are supported by Large-Scale Investment Incentives Scheme instruments. 4- STRATEGIC INVESTMENT INCENTIVES SCHEME Investments meeting the criteria below are supported within the framework of the Strategic Investment Incentives Scheme: Domestic production capacity for the product to be manufactured with the investment shall be less than the import of the product. Investment shall have a minimum investment amount of TRY 50 million. Ihe investmentshall create a minimum added-value of 40% (this condition is not applicable to refinery and petrochemicals investments). Total import value of the product to be manufactured with the investment shall be minimum of USD 50 million as of the past one year (excluding products that are not locally produced). PRIORITY AREAS The new investment incentives system defines certain investment areas as “priority” and offers them the regional support extended to Region 5 by the Regional Investment Incentives Scheme, regardless of the region of the investment.If the fixed investment amount in priority investments is TRY 1 billion or more, tax reduction will be applied by adding 10 points on top of the “rate of contribution to investment” available in Region 5.If priority investments are made in Region 6, the regional incentives available for this particular region shall apply. Fields of investment with specific priorities to be supported with Region 5 instruments regardless of the investment’s region are: Tourism accommodation investments in Cultural and Tourism Preservation and Development Regions and investments that could benefit from regional incentives with regard to thermal tourism Mine extraction and/or processing investments Mining exploration investments to be made in the licensed areas by investors with a valid Exploration License or Certificate issued pursuant to the Mining Law Railroad and maritime freight or passenger transportation investments Investments in the defense industry to be made with respect to the project approval received from the Undersecretariat for Defense Industry. Test centers, wind tunnels, and similar investments made for the automotive, aerospace or defense industries Investments made by the private sector for kindergartens and day-care centers, as well as preschools, primary, elementary, and high schools International trade fair investments with a minimum indoor area of 50,000 square meters (excluding accommodation and shopping center units) Investments for the manufacturing of products or parts developed by an R&D project that is supported by the Ministry of Science, Industry and Technology, TUBITAK or KOSGEB Investments in the motor vehicles main industry worth a minimum amount of TRY 300 million, engine investments worth a minimum amount of TRY 75 million, and investments for motor engine parts, transmission components/parts and automotive electronics worth a minimum amount of TRY 20 million Investments for power generation where metals stated in the 4-b group of Article 2 of the current Mining Law No. 3213 within the scope of a valid mining license and permit issued by the Ministry of Energy and Natural Resources are used as inputs Energy efficiency investments that would reduce energy consumption in unit production by a minimum of 20 percent for at least 5 years in existing manufacturing facilities with an annual consumption of least 500 tons of oil equivalent (toe) energy Investments for electricity generation through waste heat recovery in a facility (excluding natural gas-fired electricity generation plants) Liquefied natural gas (LNG) investments and underground gas storage investments with a minimum amount of TRY 50 million Investments for the production of items in high-tech industry segment stipulated in the Organization for Economic Cooperation and Development’s (OECD) definition for technology intensity FOR MORE DETAILS PLEASE GO TO: www.invest.gov.tr

28 Eylül 2015 Pazartesi

Global community meets a new Turkey. The new Turkey is a country rising in many ways: Turkish economy is the 17th largest in the world, the 6th in Europe. It was transformed in the 1980s from a state-led to a market-oriented economy. Over the last decade, Turkey changed from a low income to a middle incomecountry among countries with predominantly Muslim population. Turkey has been rapidly integrating into the global economy and has become an attractive destination for business. Turkey now has the largest free-market economy and the greatest industrial power-base in the geographical area lying between Italy and China. Turkey achieved this leap with its dynamic and effective private sector that has been highly active in Eastern Europe, the Middle East, South Africa and Central Asia. Turkey is perceived to be a leader and an economic model in these regions and an engine of growth in the newly emerging polycentric global system. Turkey, with its democratic credentials, economic model, and strong private sector, is a source of peace and stability in a highly volatile geography.Previously considered as a flank country, Turkey now stands as a central figure in a strategically located zone drawing the attention of the world. Through its global outreach, Turkey is one of the centers of attraction in the emerging global power system. DEIK; THE GLOBAL BRAND OF NEW TURKEY The Foreign Economic Relations Board of Turkey (DEIK) has assumed a leading role in the transformation of Turkish economy and its integration to the global market place. DEIK assisted Turkish firms to do business in the global arena and guided foreign companies to do business in Turkey.Since its establishment in 1986, considerable progress has been made in increasing the level of bilateral trade, enhancing presence of Turkish companies abroad, and multiplying the number of foreign investments in Turkey. DEIK, with its professional staff; wide national, regional and global network, its practical experience all around the world is a centre of reference and information for the global business community wanting to do business in Turkey. DEIK operates through Bilateral Business Councils which are established by a cooperation agreement signed with foreign counterparts. As of December 2014, there are 199 business councils operating under DEIK. DEIK’s legal identity and its organizational structure have been re-designed by a new law passed by Turkish Grand National Assembly in September 2014. Newly designed DEIK will continue to work, support and lead the global economic integration of Turkish companies through trade and investment relations. In this new structure, DEIK has a broader representation base and financial capability. Following the revision of its status, DEIK changed into a full-fledged umbrella organization representing the Turkish private sector in the area of foreign economic relations with a stronger public sector backing and endorsement of the President and Prime Minister of Turkey. These features give DEIK a much better operational capacity. New DEIK will restructure its business councils, aiming to achieve a broader understanding of the foreign economic relations that are not limited to foreign trade. Priority of new DEIK will be the sophistication of the foreign economic relations through trade, investment, movement of capital and people. DEIK will concentrate on export of services and we will establish new business councils and launch new business development projects in this direction. DEIK will also promote Turkey as a transcontinental business destination for multinational companies. NEW TURKEY & NEW DEIK 2023 Vision of Turkey has the drive to become a high income country. For this strategic goal,Turkeyaims to be among the 10 largest economies in the world and a major player with its new international brands and global corporations that will be able to reach an annual export volume of half trillion dollars. New DEIK, as a leading private sector umbrella organization, has undertaken the mission of pioneering for the Turkish business world in international relations and will pave the way to improve Turkey’s economic, commercial, industrial and financial relations with its partners to contribute to the transformation of Turkish economy. New DEIK with its strengthened structure is ready to serve Turkish private sector and global firms for the realization of Turkey’s 2023 vision.

28 Eylül 2015 Pazartesi

SÜMEYRA YARIŞ TOPAL / ISTANBUL COMMERCE Istanbul, with a history of 8500 years, feels like the capital of humanity, and is also one of the largest cities in Europe. Istanbul is also, in a sense, the capital of sports with a population approaching 15 million, half of which is in young age groups. Last decade saw more than TRY 1 billion invested in sports in Istanbul, which boasts 303 organized sports facilities dedicated to a wide range of activities from swimming to football, from volleyball to basketball, horse riding, and badminton. INTERNATIONAL ACTIVITIES Named the sports capital of Europe in 2012, thanks to substantial investments in sports, the mega-city has, to date, served as the host of tens of international sports events including World Basketball Championship, World Wrestling Championship, and European Basketball Championship. The international cross continent marathon, run each year on a course extending from Asia to Europe, over the Bosphorus Bridge, offers its participants a unique experience. SPORTS AT VILLAGES Sprawling over 5,461 square kilometers, this huge city has great sports facilities. Even the villages of this historical metropolis are now being enriched with large sports complexes - 303 organized sports facilities overall, 36 at international standards, 64 available for national events, and 203 for local events. Each and every one of 39 districts of the city has 2 to eighteen sports facilities. The total number will approach to 400 in the near future, with the addition of 26 large scale sports facilities currently under construction, as well as 60 sports schools. LICENSED ATHLETES Istanbul also managed a significant growth in the number of licensed athletes with a rise to 383,264 licensed athletes from 57 distinct branches of sports, from equestrianism to cycling, archery to wrestling, chess to scuba diving. It is a success of a city marked with a young and dynamic population with 41,285 elementary and secondary school students. Furthermore, the active city is the home of 1617 sports clubs in various fields. 90% SUCCESS RATE AT UNIVERSITY ENROLLMENTS 267 of the sports facilities in Istanbul are owned by government agencies. 34 facilities owned by Spor A.Ş., which is a subsidiary of the Metropolitan Municipality of Istanbul, offer the opportunity to enjoy sports in 25 fields, free of charge. Since 2008, these facilities served 3 million people with 22 pools, 32 astroturf football fields, 33 tennis courts, 2 ice skating courts, 28 gyms, 20 pilates-step-aerobics halls, 19 martial arts centers, 7 table tennis facilities, 9 outdoor basketball and volleyball fields, and 21 saunas. 13 of the facilities are fitted for use by people with disabilities. Furthermore, these facilities play an active role in the education of the students which seek an academic career in physical education, and helped achieve a university enrollment rate of 90%.

16 Eylül 2015 Çarşamba