Turkey’s location is an indication that it will have strong ties with the world. The ‘Turkey, Italy and USA Trade, Investments and Arbitration Panel’ was held, organized by the Italian Embassy, Italian Chamber of Commerce and Industry Association and ILIDA International Law, Investments and Development Association. Speaking at the panel, Italy’s Ambassador to Ankara, His Excellency Giorgio Marrapodi, said, “I believe in Turkey’s strategic power, 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 location and importance is an indication that it will always have strong economic and political ties with the world.
“WE SHOULD GIVE INVESTORS EFFECTIVE TOOLS”
Stating that the strong relations between Italy and Turkey date back to the Ottoman Empire, Marrapodi said, “These relations have increased in the past centuries. The collaboration of Florentine and Ottoman bankers, the centuries-long active trade of Rome and Istanbul still continues today. In addition, 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 must give investors effective tools to solve their problems,” he said.
“IF TURKEY WAS AN EU MEMBER, IT WAS THE THIRD BIGGEST 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,” Manzini said: “Bilateral trade with Turkey and Italy broke a record with 23 billion dollars. The trade volume with the European Union increased by 25 percent. It corresponds to 36 percent of Turkey’s total foreign trade. We also need to look at investment. 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 created where foreign investors can see their way.”
“WE ARE PROGRESSING TO BE 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 at stake. Many sectors such as the industrial sector, the chemical sector, the food and beverage sector operate in sync with world trade. Amazon’s $100 million investment in Turkey 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 on the rise. Start-up companies continue to attract investments from international giants and invest in Turkish technologies.”
“THERE ARE OVER 2,000 ITALIAN COMPANIES IN TURKEY”
Stating that the commercial relations between Turkey and Italy are also of great importance for the legal profession, President of the Union of Turkish Bar Associations Erinç Sağkan said, “We follow with interest the development of 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 legal 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 pre-investment consultancy services and investment processes of these investors. Arbitration, which is one of the dispute resolution methods, is an application that offers opportunities to resolve disputes in a just and fast manner, including international countries.
DETERMINANTS TRANSPARENCY AND QUICK SOLUTION
President of ILIDA International Law, Investments and Development Association, Atty. Arzu Ongur, on the other hand, emphasized that it is critical to resolve disputes in foreign investments quickly and transparently. Ongur said, “Turkey and Italy have significant commercial investments and import-export balances. Italy is Turkey’s fourth largest trading partner worldwide. One of the most important issues is that these two countries have had a lot of common cultural and political history throughout history. Arbitration is a very important business. 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,” he said.