Top bosses eye smart investments

ISTANBUL- Hürriyet Daily News

Business relations with Israel are still a priority for TÜSİAD, says Osman Boyner (L). Courtesy of TÜSİAD

While increasing Turkey’s exports and incoming foreign direct investment remain a priority, Turkey’s top business group plans to be more vigilant in eyeing smart investment in selected countries, according to members of Turkish Industry and Business Association (TÜSİAD).

The executive board members of TÜSİAD International, the strategic business development unit of the group, met with a group of journalists yesterday to explain the 2012 strategy of the unit.

Despite strains at the bilateral political level, Israel will remain a priority for TÜSİAD International, while Africa will enter the radar of TÜSİAD for the first time this year, with a delegation set to visit Kenya this summer. Of the three geographical pillars of TÜSİAD International strategy, Israel is prioritized in the “neighboring countries” category, along with Iraq and the Balkan states.

“We came across an Israeli businessman who speaks fluent Turkish and who has got investment in 18 countries but not in Turkey,” said Osman Boyner, president of TÜSİAD International, adding that Turkish–Israeli economic ties are much below their real potential. Boyner said the deterioration in political ties had not obstructed economic ties.

TÜSİAD International will send a delegation to Baghdad to explore economic opportunities, while it will also visit Kenya, as it aims to expand its geographical horizons.

Emerging markets
“BRIC and emerging markets” is another geographical pillar category of TÜSİAD International, and trade deficit remains a common characteristic in Turkey’s economic ties with countries belonging to that category. These are also countries where state involvement is high in economic activity, leading TÜSİAD International to contribute to platforms that bring public and private sectors together. One such example is the Turkey-Russia Business dialogue, which is set to take place at the St Petersburg International Economic Forum in June.

The U.S., Germany and Italy are the priority countries in the third pillar of “developed countries.”