Turkey Ceylon Business Chamber debuts to boost bilateral ties

Turkey Ceylon Business Chamber President Reyaz Mihular (right) presents a memento to Industry and Commerce Minister Rishad Bathuideen. Turkey Ceylon Business Chamber CEO Murath Hassan (left) looks on

The inauguration of the Turkey Ceylon Business Chamber (ITCBC) took place at the Cinnamon Grand last week with an aim to build bridges based on good business practices.

TCBC is a Sri Lankan-based Business Chamber which comprises local and Turkish Directors, keen on promoting business between not only Sri Lanka and Turkey, but also in many other countries worldwide and TCBC is in an excellent position to facilitate this,

The Turkish economy has shown remarkable performance with its steady growth over the last decade. A sound macroeconomic strategy in combination with prudent fiscal policies and major structural reforms in effect since 2OO2 has integrated the Turkish economy into the globalised world, while transforming the country into one of the major recipients of FDI in its region. With a GDP of over $ 820 billion, per capita income of over $ 10,400 and an export market of $ 158 billion, Turkey is one of strongest emerging markets in the region,

Turkey is the 17th largest economy in the world. The population of Turkey is 77.7 million (2014). More than 41.4 million tourists visited it in 2O14. Turkey manufactured 1.17 million light vehicles in 2O14 and is the largest bus manufacturer among European countries. Turkey is the 8th largest manufacturer of steel in the world and second largest in the EU. Turkey is the fourth largest cement producer in the world. 

Furthermore, Turkey has the second largest construction industry. Structural reforms, hastened by Turkey’s EU accession process, have paved the way for comprehensive changes in a number of areas. The main objectives of these efforts were to increase the role of the private sector in the Turkish economy, to enhance the efficiency and resiliency of the financial sector and to place the social security system on a more solid foundation. As these reforms strengthened the macroeconomic fundamentals of the country, the economy grew with an average annual real GDP growth rate of 4.7% from 2002 to 2014.

Being an affiliate of TUSKON it stands strong not only in penetrating the Turkish Businesses Community but, through its worldwide affiliates in over 140 countries, its reach is truly global.

The Turkish Confederation of Businessmen and Industrialists (TUSKON) is a non-governmental and non-profit umbrella organisation representing seven business federations, 211 business associations and over 55,000 entrepreneurs from all over Turkey. As the most widespread and effective business NGO, TUSKON has focused, since its establishment in 2005, on the economic and social development of Turkey and on the success of its members. TUSKON has four foreign offices in Brussels, Washington, Moscow and Beijing and partner organisations in 140 different countries, and has created the strongest domestic and international business network of Turkey.

Apart from the usual sharing of contacts and information, the assembly of business communities for various events, seminars, exhibitions, etc, TUSKON hosts occasional face-to-face meetings with target industry professionals for the furtherance of their respective business interests. For instance, the recently concluded Trade Bridge, which concluded in March this year in Istanbul, Turkey, saw a gathering of professionals from the ready wear, textile, leather, home textile and manufacturing sectors. It was the 22nd Trade Bridge organized by TUSKON. 

The TCBC makes it possible for the Sri Lankan business community to enjoy these benefits and take their businesses to global markets

Pix by Upul Abayasekara

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