Canada Turkey Business Council

The CTBC is a Canadian chartered, not-for-profit organization formed in 2001 in recognition of the importance of Turkey as a trading and investment partner for Canada. 

 

We are dedicated to a variety of activities to enhance business and trade relations between Canada and Turkey. The membership provides members with preferred access to our events, ensures that members are kept aware of and can influence developments, and provides opportunities for raising the corporate profile both in Canada and in Turkey.​

Welcoming new members: 

 - Consilium Canada Brand Inc., Toronto, represented by Mr. Seyed Ebrahim Bashiri.

- Trapeze Asset Management Inc., Toronto, represented by Mr. Badar Shamim.

Canada & Turkey 

News

October 24, 2019

Turkey Continues to Impress with Latest World Bank "Ease of Doing Business" Ranking

Building on Turkey's 2018 "Ease of Doing Business" success where the country was ranked among the top 10 global improvers, The World Bank announced on October 24, 2019 that Turkey has now advanced another 10 places to be 33rd among 190 nations in the Bank's new Ease of Doing Business report.

The Ease of Doing Business index ranks countries against each other based on how national regulatory environments are conducive to business operations. Economies with higher ranks have simpler and more friendly regulations for businesses.

 

As a result of implementing a broad range of significant business reforms for SMEs, Turkey has now moved up by 27 places in just the past two years.

September 25, 2019

Remarks by H.E. Sinam Mingan, Consul General of the Republic fo Turkey in Toronto

Speaking to guests at a welcome reception hosted in her honour by the CTBC and Dentons LLP in Toronto, the Consul General highlighted key strengths of the Canada/Turkey commercial relationship, including: 1) agreement by the two governments earlier this year to establish a Joint Economic and Trade Committee (JETCO) and, 2) a recent signing of an MOU by the Ontario Chamber of Commerce and the Union of Chambers and Commodity Exchanges of Turkey (TOBB) to promote increased trade and investment between Ontario and Turkey. She also stressed the priority to move forward with bilateral FTA negotiations. The full text of her remarks and photos from the event may be accessed via the link below.

Registrations Now Open for CTBC Trade Mission to Turkey, November 14-15, 2019

The CTBC has now opened registrations for its upcoming trade mission to Istanbul (November 14) and Ankara (November 15) that will focus on the key sectors of:

• Construction & Infrastructure 

• Transportation & Logistics

• Advanced Technology 

• Mining

• Healthcare & Life Sciences

 

Please see the attachment for full background information.

Canadian government outlines five-year, $148-million plan to attract more foreign students to Canadian universities

The Canadian federal government has pledged nearly $30-million over the next five years to diversify global recruiting efforts in the postsecondary sector. The government is targeting Turkey and 10 other countries with a large and growing middle class that may not yet have the higher-education capacity to educate all their students, or where the prospect of a Canadian education in English or French holds appeal.

CTBC Message About Canadian Mining Operations in Turkey

The Canada Turkey Business Council (CTBC) is aware of news reports and social media posts regarding the Kirazlı Gold and Silver Mine Project, under construction in the Çanakkale Kirazlı Region by Doğu Biga Madencilik Sanayi ve Ticaret A.Ş., a Turkish subsidiary of Alamos Gold Inc. 

 

The CTBC and its member firms across all sectors, including the mining industry, have the utmost respect for human rights and all related applicable laws, place a priority on operating transparently and in consultation with host governments and local communities, and make every effort to work in a socially and environmentally responsible manner.  In particular the CTBC has hosted, in coordination with member organizations, seminars on the leading role Canadian mining firms play in implementing Corporate Social Responsibility programs for projects in the Republic of Turkey.  

 

We remain confidant that our members abide by these high standards, and that they will continue to do so.

A background fact sheet provided by Alamos Gold on the Kirazlı Gold and Silver Mine Project is available through the link below.

June 08, 2019

Canada Turkey Business Council Congratulates the Governments of Canada and Turkey for Establishing Joint Economic and Trade Committee (JETCO)

The Honorable Jim Carr, Canada’s Minister of International Trade Diversification and the Honorable Ruhsar Pekcan, Turkey’s Minister of Trade, signed the JETCO on June 8, 2019 at the the G20 Trade Ministers Meeting. The JETCO will serve to further expand trade and investment between the two countries with an emphasis on small and medium enterprises, strategic venture initiatives, and technical and scientific cooperation. Contact the CTBC for additional information.

January 31, 2019

Invest in Turkey! February 2019 Newsletter

The latest updates on the Turkish investment climate and news on investments made by companies around the world! From Singapore to the United States, Turkey is building partnerships with businesses that continue to advance the needs of the Turkish market and rebalance its economy.

November 01, 2018

Turkey’s exports in October hit the highest monthly figure.

Turkey’s exports in October reached their highest monthly figure in the country’s history, rising 13.1% year-on-year to reach US$15.7 billion.

 

The top export destination for Turkish goods was Germany, with exports worth US$1.5 billion. Other major markets included the United Kingdom, Italy, Mexico, India and Latin America.

 

According to Government of Canada records, Turkey's exports to Canada were up nearly 30% in the first nine months of 2018 (to C$1.7 billion) compared to the same period on 2017.

 

Corresponding Canadian exports to Turkey increased by nearly 22% (to just under C$1 billion).

October 31, 2018

Turkey top improver for first the time in the "Doing Business report: World Bank"

Turkey carried out a record number of business reforms in the past year, earning the country a spot in this year’s top 10 global improvers in the World Bank Group’s recent report "Doing Business 2019". The reforms reflect a significant acceleration of the country’s efforts to improve the business climate for small and medium enterprises. As a result of the past year’s reforms, Turkey advanced to the 43rd place in the global ease of doing business ranking by climbing 17 steps in the list of 190 countries. The report may be accessed here.

Invest in Istanbul

This is required reading for any organization looking to establish a commercial presence in Istanbul, especially in the key sectors of finance, healthcare, tourism, ICT, logistics, education and the arts. Did you know that Istanbul is one of the easiest European countries in which to do business, that it's economy is larger than those of 130 countries, that foreign trade volume is approximately US$193 billion, that it has a skilled and dynamic workforce, and that the city has put a number of important incentives in place to attract FDI?

June 25, 2018

Turkey Chooses Stability in Historic Elections ​

Turkey held historic presidential and parliamentary elections on June 24, 2018 and delivered a clear mandate for stability. President Recep Tayyip Erdoğan took the majority of the votes to become the first president under the new constitutional system.

 

The new presidential system will help implement further reforms and positively shape the investment climate. The election victory of President Erdoğan and the Justice and Development (AK) Party is good news for foreign investors as they can have confidence in a coherent investment environment and expect more rapid action on structural reforms.

 

The elections have removed any concerns related to Turkey’s continued stability as President Erdoğan was re-elected with 52.6 percent of the votes in an election that saw record voter turnout of 88 percent, while also positioning Turkey as one of the leading countries globally in terms of democratic participation. Investors can now expect the government to take steps to further increase economic growth, reduce the current deficit, stimulate job creation, and provide a more stable and predictable investment environment.

 

President Erdoğan addressed the nation from the balcony of the AK Party headquarters in Ankara following the elections and said that the Turkish democracy and 81 million Turkish citizens were the winners of the elections. “We will be working on our promises that we gave to our nation starting from tomorrow. We have not a single moment to lose, and we will start implementing our program immediately,” Erdoğan said.

June 22, 2018

President Erdoğan Makes First-Ever Landing at Istanbul New Airport 

Almost 30 percent of Turkey’s infrastructure investment need till 2023 is expected to be made through public private partnership model mega projects. One of these, the Istanbul New Airport, will be built by a consortium of five construction giants - Cengiz, Mapa, Limak, Kolin, and Kalyon. The new airport will take its place among the outstanding examples of world architecture with its special design that draws inspiration from Istanbul, its unique geographical location, and rich and diverse history that spans many different civilizations.

 

On June 21, 2018, President Erdoğan’s aircraft took off from Gaziantep and then made a historic first-ever landing on the 3,750-meterlong runway at Istanbul New Airport, which is expected to formally open to air traffic on October 29, 2018. President Erdoğan said that the Istanbul New Airport, which is set to become the world's largest airport, is not simply a prestige project, but that it is a landmark and that it will be inaugurated on the anniversary of the foundation of the Republic on October 29.


The new airport will assume most of the passenger traffic from Atatürk International Airport. Hosting 250 airlines flying to more than 350 destinations, Istanbul New Airport will be one of the world’s largest
transport hubs. The airport will initially have an annual passenger capacity of 90 million, and officials plan up to 3,500 aircraft movements (landings or take-offs) daily.

 

The initial annual cargo capacity of the airport is estimated at 5.5 million tons, and Minister of Transport, Maritime Affairs and Communications Ahmet Arslan has announced that giants such as UPS, DHL, and FedEx, have submitted applications to register for leasable area at the Istanbul New Airport.

 

The airport is expected to provide employment to 225,000 people.

June 13, 2018

Turkey One Step Closer to Becoming a Regional Energy Hub 

The Trans-Anatolian Natural Gas Pipeline (TANAP), which constitutes the backbone of the Southern Gas Corridor and which follows the Baku-TbilisiCeyhan and Baku-Tbilisi-Erzurum oil and natural gas pipelines, in addition to the Baku-Tbilisi-Kars railway, was offcially launched on June 12, 2018, in the central Turkish city of Eskişehir. Attending the ceremony were President Recep Tayyip Erdoğan, President Ilham Aliyev of Azerbaijan, President Mustafa Akıncı of the Turkish Republic of Northern Cyprus, President Aleksandar Vucic of Serbia, and President Petro Poroshenko of Ukraine.

 

During the inauguration, President Erdoğan said, "We are opening the Trans Anatolian Natural Gas Pipeline, the backbone of the southern gas corridor, which we call the Silk Road of energy. With TANAP, Turkey is no longer a transit country. We have a critical role in the value chain extending from producer to fnal consumer. Turkey is now one step closer to its vision of becoming an energy hub in the region.”

 

TANAP is a natural gas pipeline stretching from the Turkish-Georgian border to the Turkish-Greek border. It will supply natural gas both to Turkey and to European countries. The 1,850-km pipeline is the largest section of the 3,500-km Southern Gas Corridor, which was inaugurated on May 29, 2018, in Baku, Azerbaijan.

 

With an estimated USD 8 billion in investment, TANAP will deliver 6 billion cubic meters of Azeri gas to Turkey and 10 billion cubic meters in throughput to Europe per year. The European part of the project is expected to be operational in 2020.

 

TANAP will be followed by an 878-km cross-border natural gas pipeline, the Trans Adriatic Pipeline (TAP). Starting from the Greek-Turkish border, TAP will cross Greece, Albania, and the Adriatic Sea before terminating in Italy. At its entry point, TAP will connect to the Trans Anatolian Pipeline (TANAP) in Turkey.

June 11, 2018

Robust Growth Continues in Turkey in Q1 2018 

Turkey rode the momentum of the 2017's impressive GDP growth well into the first quarter of 2018. The Turkish economy grew by a faster-than-expected 7.4 percent year-on-year in the first quarter of 2018, according to the official data of the Turkish Statistical Institute. The breakdown of the data showed that private consumption and the recovery in investments were the main drivers of growth in first quarter. Private consumption grew by 11 percent and investment expenditures by 9.7 percent year-on-year in the first quarter. With strong growth on solid macroeconomic fundamentals, Turkey remains on track as one of the largest economies globally, ranking top among OECD, and second among G20 members after India.

 

In its June 2018 Global Economic Prospects Report, the World Bank forecast that Turkey’s economy will grow by 4.5 percent in 2018, while according to the OECD, Turkey’s economy is forecast to expand 5.1 percent this year. For comparison, the global economy as a whole is projected to grow by 3.8 percent.

May 30, 2018

Turkish delight: Zynga buys Gram Games

Zynga buys 1010 maker Gram Games for $250 million.

April 30, 2018

Turkish Perspective magazine

Catch up on the latest trade and investment news in Turkey with The Turkish Perspective magazine.

March 02, 2018

Why Canadian businesses should dare to go global

Keith Farlinger, the global CEO of BDO, makes the case for business expansion of Canadian firms into the global market while offering valuable tips for success on the world stage.

February 12, 2018

Centerra Gold Receives Investment Incentive Certificate for the Öksüt Project

Centerra Gold Inc. of Toronto (TSX: CG) recently announced that its wholly-owned Turkish subsidiary, Öksüt Madencilik Sanayi ve Ticaret A.S. (“OMAS”) has received an Investment Incentive Certificate (“IIC”) from the Turkish Ministry of Economy for the development of the Company’s Öksüt Project in central Turkey.

June 10, 2017

Murad Al-Katib from AGT Foods and Ingredients Inc. from Canada named EY World Entrepreneur Of The Year 2017

Murad Al-Katib, president and CEO of CTBC member AGT Food and Ingredients Inc. of Regina — one of the largest suppliers of pulses in the world, and Canada's major single exporter to Turkey in most years — has been named EY World Entrepreneur Of The Year 2017. The EY designation is the world's most prestigious business award for entrepreneurs. Mr. Al-Katib was picked from among 59 country winners from 49 countries vying for the title.​

December 20, 2017

Condor Initiates Gas Production In Turkey

Condor Petroleum Inc. of Calgary (TSX: CPI) recently announced that natural gas production has commenced at the Company’s 100% owned and operated Poyraz Ridge field in Turkey.

December 31, 2016

2016 Report by the Investment Support & Promotion Agency of Turkey (ISPAT) on Reforms and Incentives for FDI

This publication provides important information on some of the more recent reforms and incentives introduced by the government of Turkey to encourage FDI into Turkey. As the report notes, "Turkey experienced a considerable inflow of FDI in 2016, particularly in the second half. According to the statistics of the Central Bank of Turkey, FDI inflows to Turkey reached USD 12.3 billion in 2016 despite adverse global and local incidents during the year." The report goes on to note that, "Turkey regained momentum in foreign direct investments in the second half (of 2016) thanks to various measures taken and the confidence that was reestablished in the economy. Total FDI inflow in the second half was 30 percent higher than the FDI inflow in the first half of the year. Revised forecasts hinted that Turkey would close 2016 seeing only USD 10 billion in FDI; however, Turkey rebounded much quicker than anyone had expected with its strong  finish of USD 12.3 billion in FDI."

October 04, 2016

Turkey-Canada trade full of promise

H.E. Selçuk Ünal, Ambassador of Turkey to Canada, discusses the rise of Turkey as a regional and global economic powerhouse along with its bilateral trade relationship with Canada and the Turkish government's plans to continue rapid economic growth and development into the near future.

April 22, 2016

Turkish-Japanese nuclear university to be established in Istanbul

According to the agreement establishing the Turkish-Japanese Science and Technology University, it will give education in areas such as nuclear science and reactor engineering, architecture, construction and earthquake engineering.

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60 Harbour Street, 4th floor,Toronto, Ontario, M5J1B7

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Mike Ward

Executive Director

Canada Turkey Business Council

Phone: 613-806-6728

Email: matw52@gmail.com

Julie Lindhout

Administration Contact 

16 Northcliffe Blvd, Toronto, ON M6H 3H1

Phone: +416 653 3073

Email: julielindhout@sympatico.ca

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