Turkey 2016: Business on the Bosphorus

December 7, 2016 London

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About

Despite recent political unrest Turkey’s economy is still growing at a relatively steady pace. Increased government spending and a 6% rise in private investments show that Turkey still remains an attractive market for investors new and old. Turkey 2016: Business on the Bosphorus will look at where the opportunities for investment and growth lie. The event will also look at understanding the impact of the government’s push for privatisation and the state of Turkey’s financial sector going into 2017.

 

Topics include:

  • Opportunities in Infrastructure Investment & PPPs – with ambitious goals to be reached by 2023, which sectors provide the best returns for investors?
  • Country analysis – anticipated developments in the financial, public and private sectors
  • Private equity – it’s estimated that between 2005 – 2015 private equity investments rose from $320 million to $17 billion, is this trend set to continue into 2017? or has there been a slowdown in PE investment
  • Access to International Capital Markets for Turkish Borrowers – Impact of downgrade and challenging news flow on investor appetite

 

Why Attend?

  • Understand the current economic outlook following recent political unrest
  • Hear about the government’s current plans for infrastructure investment and PPP’s
  • Learn from key players who have successfully conquered the Turkish market place
  • Network with senior officials from across the investment value chain

 

Who Should Attend?

The debate will be attended by:

  • CFOs & Finance Directors
  • Country Analysts
  • Investment Officers
  • Private Equity, Fund, & Asset Managers
  • Banks
  • Law Firms
  • Consultancies
  • Turkish and international companies interested in or already investing in Turkey.

Previous Turkey Debates
Summary Documents

turkey-summary-2015 previous-rsvp-turkey-debates

In association with

bne

Supported by:

Venue

Church House Westminster
Deans Yard
Westminster
London, SW1P 3NZ

Agenda

08h00: Registration and breakfast

08h30: Debate begins

09h45: Debate concludes and Networking Coffee

Previous Turkey Debates
Summary Documents

turkey-summary-2015 previous-rsvp-turkey-debates

In association with

bne

Supported by:

Venue

Church House Westminster
Deans Yard
Westminster
London, SW1P 3NZ

Registration

The cost of your registration will include attendance to the event alongside some catering.

Early Bird Price
(book before November 9th)
Normal
Price
1 attendee £100 £125
2 attendee £125 £150

*All prices are subject to UK VAT

For more information on this event, please contact our Delegate Relations Manager, Lee Talling:

DD: +44 (0) 207 124 2442 or email ltalling@newspartaevents.net

Attendance at the event is subject to New Sparta Events terms and conditions.

Previous Turkey Debates
Summary Documents

turkey-summary-2015 previous-rsvp-turkey-debates

In association with

bne

Supported by:

Venue

Church House Westminster
Deans Yard
Westminster
London, SW1P 3NZ

Speakers

LH_high res jpeg

MODERATOR: Liam Halligan, editor-at-large, bne IntelliNews

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Dr. Alp Malazgirt, CEO, Yildirim Holding A.S

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Haluk Bilgiç, Partner, Bilgiç Attorney Partnership (affiliated law firm of Chadbourne & Parke, Turkey)

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Cagdas Cataltas, Associate Director for Western Europe, Compliance, Forensics & Intelligence, Control RIsks
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Ahmet Iplikci, Managing Director, Ishtar Advisory Limited and Strategic Board Member, Banco Finantia

Previous Turkey Debates
Summary Documents

turkey-summary-2015 previous-rsvp-turkey-debates

In association with

bne

Supported by:

Venue

Church House Westminster
Deans Yard
Westminster
London, SW1P 3NZ

Sponsors

logo-internet-pull thumbnail_cr_3035
Chadbourne & Parke (London) LLP Control Risks

If you are interested in sponsoring this event, please contact our Commercial Manager, Charles Osborne at cosborne@newspartaevents.net or + 44 (0) 207 124 2436

Previous Turkey Debates
Summary Documents

turkey-summary-2015 previous-rsvp-turkey-debates

In association with

bne

Supported by:

Venue

Church House Westminster
Deans Yard
Westminster
London, SW1P 3NZ

Partners

IN ASSOCIATION WITH

bne

bne IntelliNews

SUPPORTED BY:

British Chamber of Commerce Turkey 1887

MEDIA PARTNERS

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BMI Research The Business Year Oxford Business Group British Chamber of Commerce Turkey 1887

 

 

 

If you are interested in discussing Media Partnerships, please contact our Marketing Manager, Tannaz Rastegar at trastegar@newspartaevents.net or + 44 (0) 207 124 2445

Previous Turkey Debates
Summary Documents

turkey-summary-2015 previous-rsvp-turkey-debates

Venue

Church House Westminster
Deans Yard
Westminster
London, SW1P 3NZ

Details of previous bne IntelliNews debates on Turkey can be found below:


24th November, 2015 

“Turkey: Which Way Now?

bne-turkey-panel-1

 

Conference Call: Turkish market will be a “write off” in 2016 if central bank independence ignored
Henry Kirby in London

Investors can “write off 2016” if the independence of Turkey’s central bank isn’t taken seriously by President Erdogan’s new government, according to Michael Harris, head of research and a Turkey strategist at Renaissance Capital.

Speaking only hours after Turkey shot down a Russian SU-24 fighter jet in Syria, Harris joined an expert panel at London’s Citadines Hotel on November 24 to discuss the political and economic future of Southeast Europe’s biggest economy in bne IntelliNews’ latest debate, “Turkey: Which Way Now?”

“There are two key issues here: the 30% minimum wage increase and the central bank,” Harris said. “If both of those are addressed in a market-friendly way over the course of this next month, then we’ve got some life in this market in 2016.”

Autonomy of institutions was a hot issue throughout the debate, with the freedom of the Central Bank of the Republic of Turkey (CBRT) a particularly pivotal factor in both the efficacy of and investor faith in the new government, according to panelists.

Harris described the CBRT as “technically independent”, but “not behaving in an independent way”. Compared to countries with long lists of necessary reforms, like Brazil, South Africa and Russia, Harris said: “All that needs to be done in Turkey is to guarantee the independence of the CBRT.”

The omission of Ali Babacan from the new Turkish cabinet, also announced on the day of the event, was a key point of discussion, with most of the panel agreeing that the absence of the former deputy prime minister responsible for the economy did not bode well for investors expecting meaningful reforms.

To many, Babacan represented the much-needed reformist and technocratic approach to economic governance that Turkey needs. Replacing him in the new cabinet is Mehmet Simek, the former finance minster who alongside Babacan was one of the figures whose presence in government calmed investor nerves.

Losing Babacan “was a bad PR decision”, said Harris. “Politically, they’re trying to marginalise a potential future competitor but, practically, the AKP [Turkey’s ruling party] brand among investors has been tarnished.”

Jean-Patrick Marquet, director for Turkey at the European Bank for Reconstruction and Development (EBRD), was more optimistic. “One of the key concerns in Turkey has been the unpredictability of policy making but, aside from the removal of Babacan, this cabinet actually shows a lot of continuity in key areas,” he said.

Marquet’s optimism was shared by Aytug Goksu, commercial counsellor at the Turkish Embassy in London. “Simsek is an orthodox economist and has credibility,” Goksu said. “That he is in the cabinet is very good news.”

Suna Erdem, writer of bne IntelliNews’ “Beyond the Bosphorus” column, said that Simsek’s presence alone is not enough to guarantee the government will steer Turkey in the right direction, raising concern over just how much autonomy he will have to orchestrate the reform process. “Whether President Erdogan will allow Simsek to do what he wants, I do not know,” Erdem said.

Refugee issues

With very little verifiable information available at the time, the panel seemed reluctant to comment on the significance of the downing of the Russian jet, which Russian President Vladimir Putin described as “a stab in the back”. Rencap’s Harris did note that the fallout from the event “can be managed,” adding, “there’s no need for this to spin out of control”.

More was said about the ongoing refugee crisis and Turkey’s role in it. Erdem noted that Turkey has “coped admirably” with the 2mn refugees it currently has, but added that there are “big policy decisions that Turkey and EU need to make together”.

A resettlement policy, Erdem said, or an incentive to stay is key if the flow of refugees into the EU is to be stemmed. “Because of their legal status, they cannot get jobs in Turkey,” Erdem explained. “This is one of the main reasons they are leaving Turkey.”

Aytug Goksu said, “some social issues are developing” with regards to the refugee crisis. For example, he said, “there are now more refugees in the southeastern city of Kilis than there are Turkish residents.”

Goksu was quick to note the potential for Turkey to benefit from their role in the crisis, though. “The EU [accession] process has not really been working in Turkey since 2006, but the Syria crisis has brought Turkey and the EU together again,” he said.

Marquet agreed, saying that Turkey’s effort with Syrian refugees “cannot be ignored” by the EU, adding that “things are now moving in the right direction” in terms of Turkey’s candidacy. He noted, though, that the Transatlantic Trade and Investment Partnership (TTIP) agreement between the EU and US was likely on Turkey’s radar as a bi-product of EU accession-focused reform.

Harris was more explicit in his acknowledgment of this possibility. “I don’t think Turkey joining the EU is something this government ever thought was likely,” he said. But “Turkey, geopolitically, wants to be involved in the EU-US trade agreement, and is using the cover of the EU process to push through difficult reforms which could result in agricultural free trade.” One fifth of Turks work in the agricultural sector and the country’s wheat and meat is some of the most expensive in the world.

Erdem agreed, saying that, “the carrot of joining is good for all the reasons that countries like the UK think it’s a negative thing, such as loss of sovereignty and all the membership rules. A lot of the good things that have happened in Turkey, like reforms, have happened because there is hope of EU membership.”

Media Partners

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BMI Research The Business Year Oxford Business Group British Chamber of Commerce Turkey 1887

 

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