Following a visit to Rome earlier in the month, Terni and Milan were the focus of ISPAT’s second round of investor meetings in Italy on February 21 and 22 respectively.
ISPAT Country Advisor Yasemen Korukçu was the featured speaker at the “International Forum: Focus on Turkey” held by Unicredit Group in collaboration with Confindustria Umbria, Umbria Export, ISPAT, and NCTM law firm in Terni on February 21. The forum provided a comprehensive overview of Turkey’s economic outlook and the business opportunities available to Italian companies willing to operate in Turkey.
The second meeting on “Turkey: New Opportunities for Italian Companies” held by the Assolombarda Confindustria Milano Monza e Brianza, ISPAT, and the UniCredit Group convened on February 22 in Milan. This meeting focused on Turkey’s political-economic framework and provided insight into key sectors in the country.
Delivering a keynote address at the meeting, ISPAT President Arda Ermut said that Turkey offers abundant opportunities in a variety of sectors that need further investment, particularly from foreign investors. “Investments totaling more than USD 100 billion are required in the energy sector over the next decade to satisfy the increasing energy needs. Meanwhile, almost 30 percent of Turkey’s infrastructure investment need till 2023 is expected to be made through public-private partnership model mega projects,” said Ermut.
Ermut also highlighted Turkey’s advantages compared to other developing countries. Turkey’s robust economy, strong domestic market, strategic location, reforms and incentives, skilled labor-force, favorable demographics, and liberal investment climate are factors that Ermut hopes will further increase Italian companies’ engagement with Turkey.
Italy is a target country for Turkey and it is one of its most important trade and investment partners with a bilateral trade volume of USD 19.8 billion in 2017. Turkey had USD 11.3 billion in imports from Italy, making it the fifth country in imports in 2017. Turkey also had USD 8.5 billion in exports to Italy, ranking the country as the sixth largest destination for Turkish exports.
Along with ISPAT President Arda Ermut, ISPAT Coordinators Başak Avcı and Mustafa Erdönmez delivered presentations on chemicals, renewable energy and machinery sectors in Turkey.