If Turkey were to become a member, it would be the EU’s third biggest manufacturing center. The “Turkey, Italy and the US Trade, Investments and Arbitration Panel” was organized at the Venice Palace in Istanbul with the attendance of Giorgio Marrapodi, Ambassador of Italy to Ankara, Ahmet Burak Dağlıoğlu, President of the Investment Office of the Presidency of the Republic of Turkey, and Erinç Sağkan, President of the Union of Turkish Bar Associations (TBB).
Speaking at the opening of the event, Italian Ambassador to Ankara Giorgio Marrapodi noted that the relations between Italy and Turkey date back to the Ottoman Empire and that these relations have steadily grown over the last centuries.
“I trust in Turkey’s strategic strength, its strategic potential, its importance for Europe and the future of its closer ties with Italy,” Marrapodi said, noting that Florentine and Ottoman bankers worked together and that centuries of centuries of active commerce between Rome and Istanbul continue to this day.
Emphasizing that Turkey has a young population and invests a lot in education, Marrapodi said: “Turkey is Europe’s door to the Middle East. It is very significant to build personal relations and bridges that will continue for centuries. The location and significance of Turkey is always with the world. This is an indicator that it will have stronger economic and Political links,” he said.
Marrapodi added: “The significance of international commerce and means of communication, such as energy and telecommunications, is growing every day. We need to give macroeconomic initiative to our companies. We need to give the investors efficient instruments to resolve their issues,”
‘WE ARE ON OUR WAY TO BECOMING THE REGIONAL POWER CENTER’
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Ahmet Burak Dağlıoğlu, President of the Investment Office of the Presidency of the Republic of Turkey, said that trade relations between Italy and Turkey are in good condition.
Dağlıoğlu said that Turkey’s long-term economic achievement and its place in the international chain of supply is at stake, adding, “ Many other industries such as the manufacturing sector, the chemical sector, the food and beverage sector are operating in harmony with world trade. “This is an example of this investment. This shows clearly that Turkey is on its way to becoming a power center in the region as a logistics and manufacturing location.”
Dağlıoğlu said that the number of financial investors has also increased and continued: “Startup firms are continuing to attract investment from international leaders and invest in Turkish technologies.”
‘IF TURKEY WERE AN EUROPEAN UNION MEMBER, IT WOULD BE THE UNION’S THIRD LARGEST MANUFACTURING CENTER’
Livio Manzini, President of the Italian Chamber of Commerce and Industry Association, noted that the volume of bilateral commerce between Turkey and Italy has reached 23 billion dollars and said, “If Turkey were a European Union member country, it would be the third biggest manufacturing center of the union.”
Indicating that the bilateral commercial volume between Turkey and Italy has broken a record with 23 billion dollars, Manzini said, “The volume of commerce with the European Union has grown by 25 percent. This amounts to 36 percent of Turkey’s total foreign commerce. We need to look at the investment as well. “ The inflow of foreign investment into Turkey, no matter how much harm it has done, has reached positive levels. Italy has risen to third place in foreign investment in Turkey with about 5 billion in investments in industry,” he pointed out.
“WE ARE ON OUR WAY TO BECOMING THE CENTER OF THE REGION IN MANUFACTURING AND LOGISTICS”
Ahmet Burak Dağlıoğlu, Head of the Presidential Investment Office, stated that commercial relations between Italy and Turkey are in good condition. “Turkey has a long-term economic achievement and a place in the international supply chain. Many sectors such as the industrial sector, the chemical sector, the food and beverage sector operate in synchronization with world commerce. An example of this is Amazon’s 100 million dollar investment in Turkey. This clearly demonstrates that Turkey is on its way to becoming a powerhouse in the region as a logistics and manufacturing location. Financial investors are also on the increase. Start-up companies continue to attract investment from international leaders and invest in Turkish technologies.”
“THERE ARE MORE THAN 2,000 ITALIAN COMPANIES IN TURKEY”
Emphasizing the importance of trade relations between Turkey and Italy for the legal profession, Erinç Sağkan, President of the Union of Turkish Bar Associations, said: “We are watching the strengthening trade relations between Turkey and Italy with great interest. Italy is Turkey’s second largest partner among European Union countries and the largest trade partner in the Mediterranean region. This strong partnership with Italy, a country with which we share the Mediterranean, offers valuable opportunities for the legal sector. Currently, over 2,000 Italian companies operate in Turkey. We are aware that our colleagues will play a very important role in addressing the legal issues that may arise during the pre-investment advisory and investment processes of these companies. Arbitration as a dispute resolution method ensures the fair and appropriate resolution of disputes, including at the international level.”
TRANSPARENCY AND EFFECTIVE RESOLUTION ARE CRUCIAL
Lawyer Arzu Ongur, President of ILIDA International Law, Investment and Development Association, underlined the importance of resolving disputes in foreign investments in a fast and transparent manner. Ongur continued her words as follows: “Turkey and Italy have important trade ties and Italy is Turkey’s fourth largest trading partner in the world. The two countries also share a rich cultural and political history, which further strengthens their economic relations. Arbitration plays a critical role as a mechanism to resolve disputes in a fast, transparent and result-oriented manner. The two main concerns for investors are profitability and security. Law and the rule of law lie at the heart of safe investments.”
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