Move over India. Turkey has begun looking eastwards, east up to the Pacific and down to Australia and New Zealand, even as India?s Look East policy falters on the Stillwell Road.
With the West?Turkey?s main export market?in the grip of an economic slowdown that has dragged down the average global growth rate, Istanbul is aiming to double its exports to the Asia Pacific region by 2010.
Kursad Tuzmen, Turkey?s minister of state for foreign trade and foreign contracting services, pointed out to a gathering of political and business leaders from 20 countries in the Asia Pacific region that 90% of the country?s exports are industrial goods. And 70% of this goes to ?very discerning buyers in the West,? he said. ?We have to redefine our relationship with the Asia-Pacific countries,? Tuzman said.
In calendar 2007, Turkey?s exports to Asia added up to $5.2 billion and in the first four months of this year exports to the region grew by 53% to $2.3 billion over the same period of 2007 (Turkey follows the calendar year).
But as country after country put its best foot forward at the grand ceremony, with many sending ministers, India sent the head of the India Turkey Business Chamber who could merely reel of some facts while the others built bridges.
The event, TurkiyeAsia-Pacific Foreign Trade Bridge, was organised by the Turkish Confederation of Businessmen & Industrialists or Tuscon.
The Sri Lankan minister representing his country offered Lanka as a gateway to India?s market, while Pakistan?s representative (?we are a peaceful nation?) positioned his as a gateway to China and Central Asia. Bangladesh?s businessman representative cited a highly competitive market and access to ?the Chinese part? of Asia.
The diminutive minister from the Maldives invited Turkish businessmen to invest ? ?but Maldives is small and we cannot accommodate all of you together, come group by group.? A Turkish company is already building a resort there. The minister from Papua New Guinea offered his country?s vast natural resources, from timber to gold.
The senator representing Japan commented on his own most un-Japanese looks and claimed that someone in Istanbul had mistaken him for a Turk and spoken in Turkish with him!
Among such bonhomie, the Indian representative merely reeled off a series of facts and figures.
But the star of the day was Tuzmen, who explained that he had not called China to the meeting because it is already a big trading partner. In the region, China absorbs the largest chunk of Turkey?s exports ($1 billion) followed by Singapore with $389 million, India with $348 million, and Australia with $291 million.
Turkey has a negative trade balance with the region, with imports at $33.78 billion in 2007. China alone accounted for $13.2 billion of this total.
Kuzmen explained away Turkey?s current political crisis pointing out that foreign direct investment was $22 billion last year and $16 billion the year before. ?This year, we expect it to be $25 billion and if there is a slowdown, tourism will make up for it,? he said.
The trip was sponsored by the Government of Turkey
