Think London joins Turkish trade bodies to promote 2012 Games opportunities

Jun 18, 2008

Think London co-hosts UK/Turkey Business Day in Istanbul

London’s economy is forecast to grow by $80bn by 2012 and will offer huge opportunities to Turkish companies looking to invest in London. Think London, the foreign direct investment agency for London, will co-host a seminar in Istanbul this week to talk to companies about the business benefits of investing in London.

Organised by Think London, UK Trade & Investment and Istanbul Chamber of Commerce, the free half-day event is open to Turkish companies keen to hear about opportunities that London and the 2012 Games affords them. It takes place at Istanbul Chamber of Commerce, Resadiye Cad, 34112, Eminonu, Istanbul at 15:00 on 20th June.

Brendan Dineen, Director 2012, Think London said; “London presents significant business opportunities for Turkish companies leading up to the 2012 Games. Think London is ready to help these companies benefit from the $80 billion growth that has been forecast for the city.

“Research shows that London offers a better return on investment than any other European city, and as we edge ever closer to the 2012 Olympic Games, London is the place to be for Turkish companies looking to expand their operations into Europe and beyond.

“London is the leading city for innovative companies looking to globalise, offering unrivalled access to international markets and talent, and a business environment that facilitates growth."

H.E. Nick Baird, British Ambassador to Turkey said: "UK and Turkey enjoy a growing and prosperous bilateral commercial relationship, with trade between our two countries increasing annually for the past 7 years and investment, in both directions, rising significantly over that period. In 2007 the value of our bilateral trade stood at over £7 billion, with the balance of trade very much in Turkey’s favour.

“As further evidence of the strength of our growing trade relationship, we now have some 1420 British companies currently doing business with Turkey, with close to 500 of them having set up resident offices here. There are also some 220 Turkish companies working in the UK.

“Britain will remain committed to its wide-ranging partnership with Turkey and will work to widen the knowledge and understanding of the opportunities which exist for both countries."

Chairman of Istanbul Chamber of Commerce Murat Yalçıntaş said: "Both UK and Turkey are extremely important business partners for each other. In that respect, both Turkish and British businessmen should contribute to this partnership, create new and long lasting linkages through new large scale projects.

“Today, in Istanbul, we have the famous Bosphorus Bridge, which mystically connects Asia to Europe, but also exists as a concrete example of the Turkey-UK partnership.”

“The collaborations that we have shared so far reveal the massive potential and we, Istanbul Chamber of Commerce, will continue to encourage the efforts to improve business relations between the UK and Turkey."

Other participants at the event include the British Chamber of Commerce of Turkey, Turkish-British Chamber of Commerce and the British Embassy. These trade and investment organisations will come together to meet Turkish companies interested in globalising by expanding into the UK. Think London will highlight business opportunities for Turkish companies in London over the next four years as it prepares to host the 2012 Games.

Turkey is Europe’s 6th largest economy and economic reforms have helped improve the country’s business outlook with exports during the first five months of the year increasing by 36.36 per cent to more than $55 billion.

In addition to Brendan Dineen, Director 2012 Games, Think London, the speakers at the event will include:

• Duncan Blake – BCCT Chairman
• Dr Murat Yaçintaş – President of ITO
• H.E. Nick Baird – British Ambassador to Turkey
• Remzi Gür – Chairman of TBCCI
• Kürşad Tüzmen – State Minister, Republic of Turkey
• Murat Yapici – Chief Commercial Counsellor, Turkish Embassy, London
• Emma Edhem – Board Member of TBCCI
• Les Wicks – Product Marketing Manager, Beko

Think London will also host an event in London on the 26th June in conjunction with the Turkish-British Chamber of Commerce & Industry that will look at opportunities for Turkish companies on the UK.