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Turkey; the favorite of investors in 2020

20 February 2020 Issue: Year 2020

Turkey Exporters Assembly (TIM) has announced the export figures for January 2020. Turkey's export has increased by 6.1 percent in January 2020 and has become 14 billion 765 million dollars. In January, exporters managed to keep the flag of our country flying in 214 countries and regions. While exports to 132 of these countries increased, the increase in 100 countries has been over 10 percent and over 50 percent in 38 countries. The top three most exported countries were Germany with $1.4 billion, Italy with $889 million and the United Kingdom with $870 million. While the rate of the top 10 countries in exports was 49.2 percent, this rate in the top 20 countries was 67.1 percent. The rate of our largest market, the European Union, in our exports was 50 percent in January.
Turkey's trade relations with Libya that came to a standstill period for a while, has stepped in the normalization process.  Exports to Libya increased by 27 percent in 2019, with sales of $1.9 billion. While significant changes are expected in the relations with Libya in 2020, the Foreign Economic Relations Board that has undertaken important roles in the trade of both countries stated at Turkey-Libya Business Council that exports to Libya could be increased to three billion dollars in the first step and $10 billion afterward.

“Turkish contractors shape the world construction industry”

Turkey has again managed to be the second in the world in the "World's Largest 250 International Contractors" list. In the list prepared by the ENR magazine, Turkey maintained the position behind China between 1044 firms, based on the turnover of companies obtained from projects carried out in the previous year. Trade Minister Ruhsar Pekcan said that the Turkish construction industry is leading the world contracting market. Pekcan noted that the total amount of nearly 10,000 projects undertaken by the end of November 2019 in the sector's 48-year international adventure, reached 394.8 billion dollars and the 400 billion dollar threshold will be exceeded very soon.

Good news from Davos to Turkey ...

Turkish Employers Association of Metal Industries (MESS), the first employer union to be accepted into the World Economic Forum (WEF) platform membership last September, has promoted cooperation to the next level. With the MEXT Technology Center that it has established to prepare the Industry of Turkey for the future, it participated in the WEF's Center for the Fourth Industrial Revolution Network-C4IR. With the cooperation agreement signed in Davos, MEXT has been registered as one of the few WEF affiliated centers in the world. The fourth industrial revolution affiliated Center that will be within MEXT Technology Center, will get first-hand information about the execution of all technology applications conducted in the world and develop projects specific to Turkey to promote the applications of advanced technology. 

Turkey will use its energy more efficiently

According to a study conducted in 2018 by the American Council for Energy-Efficient Economy, Turkey ranks 16th among 25 countries in terms of energy efficiency. The Austerity Target and Implementation Guide in Public Buildings has been prepared recently to rise in the rankings. The guide aims to provide a minimum of 15 percent energy savings until the end of 2023 for public buildings that are obliged to appoint an energy manager according to the Energy Efficiency Law. The guide also mentions measures to be taken in public buildings for energy savings.
One of the most important steps on energy efficiency in the buildings is the realization of B.E.S.T., Turkey's national green building certification system. Thanks to B.E.S.T., the buildings will be built more efficiently and environmentally friendly way in Turkey. 

Wind energy investments are on the rise

Renewable energy systems that have been increasing their share rapidly in the world, are on the rise in Turkey's market as well. After the investments and developments, the share of wind energy in electricity production in Turkey has risen to 8%. In addition to the existing installed capacity in the field of wind energy, a capacity of approximately 1500 MW is expected to be put into operation in 2020. The goal of this year in wind energy is to exceed the 10 GW limit.

To sum up, Turkey has made a fast start to 2020. This momentum achieved in many sectors is expected to affect the economy of Turkey positively in the coming period. 
 

Gokcen Parlar Unal
[email protected]