The Italian Embassy, Italian Chamber of Commerce and Industry Association and ILIDA International Law Investments and Development Association brought together the most important names of their fields with a panel with high added value where investment and business opportunities in Turkey, Italy and the USA were discussed.
The chairman of the Presidency Investment Office Ahmet Burak Dağlıoğlu,, President of the Italian Chamber of Commerce and Industry Association Livio Manzini, President of the International Law Investments and Development Association of ILIDA Atty. Arzu Ongur, President of the Union of Turkish Bar Associations Erinç Sağkan, UNIDROIT President Maria Chiara Malaguti, lawyers registered with the New York and Rome bar associations flashed on the investment and dispute issues of the three countries from the Venice Palace in Istanbul.
“I believe in Turkey’s strategic power”
Italy’s Ambassador to Ankara, His Excellency Giorgio Marrapodi, used the following statements in his speech at the panel: “Strong relations between Italy and Turkey date back to the Ottoman Empire. In the past centuries, these relations have increased gradually. The collaboration of Florentine and Ottoman bankers, the centuries-long active trade of Rome and Istanbul still continues today. I believe in Turkey’s strategic power, its potential, importance for Europe and the future of its close relations with Italy. Turkey has a high young population and is a country that invests heavily in education. It is also Europe’s gateway to the Middle East. Personal relationships and building bridges that will last for centuries are very important. Turkey’s position and importance is an indication that it will always have strong economic and political ties with the world. The importance of international trade and communication tools such as energy and telecommunications is increasing day by day. We must provide our companies with macroeconomic initiatives. We should give investors effective tools to solve their problems.”
“If Turkey were a member of the EU, it would be the third largest economy of the union”
Livio Manzini, President of the Italian Chamber of Commerce and Industry, emphasized that the bilateral trade volume between Turkey and Italy has increased to 23 billion dollars. Manzini said, “If Turkey were an EU member state, it would be the third largest economy in the union” and added “Bilateral trade with Turkey and Italy broke a record with 23 billion dollars. The trade volume of the European Union was increased by 25 percent. It corresponds to 36 percent of Turkey’s total foreign trade. It is necessary for us to look at investment too. Although the pandemic has damaged, the entry of foreign investment into Turkey has reached good points. Italy has reached the third rank in foreign country investments in Turkey with nearly 5 billion industrial investments. Europe, especially the United States, wants to break away from China. Devotion to China has reached alarming proportions, and trade demand from nearby geographies has increased as supply chains have been damaged by the pandemic. The point we should focus on is the USA and the EU. Since this is a production base, it is possible to go to other potential countries with it. These include Africa, the Middle East, Iraq, and Azerbaijan. Turkey has become a major production point.
Currently, Europe’s largest production center is Germany. Italy comes second. If Turkey were a member of the European Union, it would be the third country in this ranking. Its land, people and industrial infrastructure are suitable for this. As long as an environment is made, foreign investors can see their way.”
“We are on the way to become the center of the region in production and logistics”
President of the Presidency Investment Office Ahmet Burak Dağlıoğlu also said that the commercial relations between Italy and Turkey are in balance. Dağlıoğlu said “Turkey’s long-term economic success and its involvement in the international supply chain are in question. Many sectors such as the industrial sector, the chemical sector, the food and beverage sector operate in sync with world trade. The investment of 100 million dollars that Amazon (NASDAQ:AMZN) did is an example of this. This clearly shows that Turkey is moving towards becoming a power center in the region as a logistics and production point. Financial investors are also increasing. Start-up companies are also trying to attract investments from international giants and invest in Turkish technologies.”
“There are over 2,000 Italian companies in Turkey”
Among the speakers of the panel was Erinç Sağkan, President of the Union of Turkish Bar Associations. Sağkan said that the commercial relations between Turkey and Italy are also of great importance for the attorney profession and continued as follows: “We follow with interest the development of the commercial relations between Turkey and Italy, getting stronger day by day. As we know, Italy is Turkey’s second largest partner among European Union countries. Considering the Mediterranean Region, it is the largest commercial partner. This close commercial partnership with Italy, with which we share the same sea, also offers important opportunities for the attorney profession. There are over 2,000 Italian companies operating in Turkey. We are aware of the fact that our colleagues will be consulted in many legal disputes that may arise during the preinvestment consultancy services and investment processes of these investors. Arbitration, which is one of the methods of resolution of disputes, is an application that provides opportunities for the settlement of disputes in a fair and fast manner, including international countries.”
