I trust in Turkey’s strategic strength

The ‘Turkey, Italy and the USA Trade, Investments and Arbitration Panel’ organized by the Embassy of Italy, the Italian Chamber of Commerce and Industry Association and ILIDA International Legal Investments and Development Association focused on investment potential, business opportunities, legal processes and disputes in the three countries.

“The position and importance of Turkey shows that it will always have strong economic and political ties with the world,” said His Excellency Giorgio Marrapodi, Ambassador of Italy to Ankara, while Livio Manzini, President of the Italian Chamber of Commerce and Industry, said: “If Turkey were an EU member, it would be the third largest economy in the region after Germany and Italy. This opportunity still exists.”

The Embassy of Italy, the Italian Chamber of Commerce and Industry Association and ILIDA International Law, Investment and Development Association gathered the most important names in the field with a high value-added panel discussion on investment and business opportunities in Turkey, Italy and the USA.

Ahmet Burak Dağlıoğlu, President of the Investment Office of the Presidency of the Republic of Turkey; Livio Manzini, President of the Italian Chamber of Commerce and Industry Association; Attorney Arzu Ongur, President of ILIDA International Legal Investments and Development Association; Erinç Sağkan, President of the Turkish Bar Association; Maria Chiara Malaguti, President of UNIDROIT; and lawyers from the New York and Rome bar associations spoke about the investment and dispute issues of the three countries from the Venetian Palace in Istanbul.

“I trust in Turkey’s strategic strength”

In his speech at the panel, His Excellency Giorgio Marrapodi, Ambassador of Italy to Ankara, said: “The strong relations between Italy and Turkey date all the way to the Ottoman Empire. This relationship has grown more and more in the past centuries. The collaboration of Florentine and Ottoman bankers, Rome and Istanbul.” “I am a believer in Turkey’s strategic strength and potential, its significance for Europe and the future of its close partnership with Italy. Turkey is a country with a young population and a large investment in education. Furthermore, Europe’s opening to the Middle East is still ongoing. It makes it very valuable to build personal relationships and bridges that will last for centuries. Turkey’s position and significance means that it will always have strong political and economic links with the world. International trade and communication tools such as energy and telecommunications are growing in significance every day. We must provide our companies with macroeconomic openings. For investors, we must give them effective tools to solve problems.”

“if Turkey were a member of the European Union, it could be the third biggest economy of the European Union”

President of the Italian Chamber of Commerce and Industry Livio Manzini underlined that the volume of bilateral trade between Turkey and Italy has increased to 23 billion dollars. “If Turkey were a European Union member country, it would be the third biggest economy in the EU,” Manzini said. This accounts for 36 percent of the investment. We must look at the investment. Despite the damage caused by the pandemic, foreign investment inflows to Turkey have reached good levels. Italy has risen to third place in foreign investments in Turkey with investments of nearly 5 billion dollars.

Above all, the United States “Europe wants to disconnect from China, including its states. The dependence on China has reached alarming levels and as supply chains have been damaged by the pandemic, the desire to trade from nearby geographies has grown. Our focus is on the United States and the European Union, but we’re also taking it to other potential countries because it’s a manufacturing base.” These countries include Africa, the Middle East, Iraq, Azerbaijan, etc. ‘Turkey has developed into an important manufacturing location. Currently, Germany is the biggest production center in the Europe. Italy is in second place. If Turkey were a member of the European Union, it would be the third country in this list. Its soil, people and industry background are suitable for this. All we need is to create an environment where foreign investors can see the way ahead.”

“ We are moving towards becoming the center of the region in production and logistics”

Ahmet Burak Dağlıoğlu, Head of the Presidential Investment Office, stated that trade relations between Italy and Turkey are in steady balance. “Turkey has a long-term economic achievement and a place in the international supply chain. The industrial sector, the chemical sector, the food and beverage sector and many other sectors operate in harmony with world trade. “ The 100 million dollar investment of Amazon in Turkey ” is an example. This clearly demonstrates that Turkey is on its way to becoming a powerhouse in the region as a location for logistics and manufacturing. The number of financial investors is also on the rise. The start-up companies keep attracting investments from international leaders and investing in Turkish technologies.”

“ More than 2,000 Italian companies in Turkey”

The President of the Union of Turkish Bar Associations, Erinç Sağkan, was among the speakers of the panel. Sağkan emphasized that the trade relations between Turkey and Italy are of great significance for the legal practice and continued as follows: “We follow with attention the growing and strengthening of trade relations between Turkey and Italy. Italy is our second partner. When we look at the Mediterranean Region, it is our biggest trade partner. The close trade partnership with Italy, with which we both share the same waters, also offers significant advantages for the legal profession. There are above 2,000 Italian companies operating in Turkey. We are very conscious that our professionals will be referred to our colleagues in many legal conflicts that are possible to occur in our services and investment transactions. Arbitration, one of the dispute settlement methods, allows for the fair and rapid resolution of disputes, including in international countries. moment is practice.”

Transparency and fast resolution are the determining elements.

Arzu Ongur, President of ILIDA International Law, Investment and Development Association, said that the fast and transparent resolution of conflicts in foreign investments is of crucial significance. “Turkey and Italy have important commercial investments and balances of import-export. Italy is Turkey’s fourth biggest commercial partnership in the world. The most important thing is that these two countries have a very similar culture and politics throughout history. And arbitration is a very significant organization. “It is one of the major mechanisms for fast, transparent and result-oriented resolution of disputes. Investors emphasize two important things. A profit and a safe investment. Law and the rule of law is the sole instrument that can provide secure investment.”