If Turkey was a member, it would be the third largest production center in the EU. “Turkey, Italy and the USA Trade, Investments and Arbitration Panel” was held at the Venice Palace in Istanbul with the participation of Giorgio Marrapodi, the Italian Ambassador to Ankara, Ahmet Burak Dağlıoğlu, Head of the Presidential Investment Office, and Erinç Sağkan, the President of the Union of Turkish Bar Associations (TBB). .
Giorgio Marrapodi, the Italian Ambassador to Ankara, who spoke at the opening of the event, stated that the strong relations between Italy and Turkey extend to the Ottoman Empire and that these relations have increased gradually in the past centuries.
Pointing out that the Florentine and Ottoman bankers work together and the active trade of Rome and Istanbul, which lasted for centuries, still continues today, Marrapodi said, “I believe in Turkey’s strategic power, potential, its importance for Europe and the future of its close relations with Italy.”
Noting that Turkey is a country with a high young population and invests heavily in education, Marrapodi said, “Turkey is 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 are always with the world. It is an indication that they will have strong economic and political ties,” he said.
Marrapodi said, “The importance of international trade and communication tools such as energy and telecommunications is increasing day by day. We must provide macroeconomic initiatives to our companies. We must give investors effective tools to solve their problems.”
‘WE ARE PROGRESSING TOWARDS BECOME THE POWER CENTER OF THE REGION’
President of the Presidency Investment Office Ahmet Burak Dağlıoğlu also stated that the commercial relations between Italy and Turkey are in balance.
Noting that Turkey’s long-term economic success and involvement in the international supply chain are in question, Dağlıoğlu said, “Many sectors such as the industrial sector, the chemical sector, the food and beverage sector operate in sync with world trade. “This is an example of this investment. This clearly shows that Turkey is moving towards becoming a power center in the region as a logistics and production point,” he said.
Dağlıoğlu stated that financial investors are also increasing and said, “Startup companies continue to attract investments from international giants and invest in Turkish technologies.”
‘IF TURKEY WAS AN EU MEMBER, IT WOULD BE THE THIRD BIGGEST PRODUCTION CENTER OF THE UNION’
Head of the Italian Chamber of Commerce and Industry Association Livio Manzini, pointing out that the bilateral trade volume between Turkey and Italy has increased to the level of 23 billion dollars, “If Turkey were an EU member country, it would be the third largest production center of the union.” he said.
Stating that the bilateral trade between Turkey and Italy broke a record with 23 billion dollars, Manzini said, “The trade volume with the European Union increased by 25 percent. This corresponds to 36 percent of Turkey’s total foreign trade. We also need to look at investment. “No matter how much damage it has done, the entry of foreign investment into Turkey has reached good points. Italy has reached the third place in foreign country investments in Turkey with nearly 5 billion industrial investments,” he said.
Noting that Europe, especially the United States of America, wants to break away from China, Manzini said, “The commitment to China has reached alarming levels and the desire for trade from nearby geographies has increased as supply chains have been damaged by the pandemic. The point we need to focus on is the USA and the EU. This is a place. Since it is a production base, it is possible to go to other potential countries with it. These include Africa, the Middle East, Iraq, Azerbaijan. Turkey has become a major production point. Currently, Europe’s largest production center is Germany. Second is Italy. Turkey “If Turkey were a member of the European Union, it would be the third country in this ranking. Its soil, people and industrial infrastructure are suitable for this. As long as an environment where foreign investors can see their way,” he said.
‘THERE ARE OVER 2,000 ITALIAN COMPANIES IN TURKEY’
Erinç Sağkan, President of the Union of Turkish Bar Associations (TBB), stated that the commercial relations between Turkey and Italy are also of great importance in terms of the legal profession, and stated that they follow the development of commercial relations between Turkey and Italy with interest.
Sağkan said, “As we know, Italy is the second largest partner of Turkey among the European Union countries. When we consider it within the scope of 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 in terms of the legal profession.” said.
Noting that there are more than 2,000 Italian companies operating in Turkey, Sağkan continued: “We are aware that these investors will be consulted in many legal disputes that may arise during both pre-investment consultancy services and investment processes. Arbitration, which is one of the dispute resolution methods, is also available in international countries. It is an application that provides opportunities for the settlement of disputes, including in a fair and fast manner.
Arzu Ongur, President of ILIDA International Law, Investments and Development Association, emphasized that it is critical to resolve disputes in foreign investments quickly and transparently.
Noting that Turkey and Italy have significant trade investments and import-export balances, Ongur said: “Italy is Turkey’s fourth largest trade partner in the world. One of the most important issues is that these two countries have had a lot of common cultural and political values throughout history. Arbitration is a very important institution. It is one of the most important mechanisms that ensure fast, transparent and result-oriented resolution of disputes. Investors focus on two important issues. One is profitable and the other is safe investment. The only mechanism that can ensure safe investment is law and the rule of law.”