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Find out why the Istanbul Chamber of Commerce (ICOC) is coming to CPhI & P-MEC China this year and read why China is such an important market for Turkish businesses to tap into.
Tell us a little about your company, what is your main focus?
Since it was founded in 1882, the Istanbul Chamber of Commerce (ICOC) has been an influential organisation within Turkey’s business field and has since guided the Turkish private sector and society with its projects and initiatives. Since its inception, the ICOC has taken pride in being the pioneer of society in Istanbul, the center of commerce where continents, seas, roads, cultures and civilisations meet.
The ICOC currently represents more than 400,000 companies from all corners of the business spectrum, cooperates with other chambers and international bodies such as UNIDO, ITC, ASCAME and more, and provides expert assistance to its members regarding legal and financial legislations, foreign trade and customs regulations, trade and investment incentives and newly introduced topics such as consumer protection or e-commerce.
The ICOC publishes and circulates researches, surveys and reports both in Turkish and other languages, organises seminars for informative purposes and meetings to solve the sectoral issues, regulates the registration procedures and approves the documents of foreign trade, making ICOC a pioneer in the development of business and trade in Turkey.
Why is China an important market for you?
With its rapidly growing economy, China’s rising global power hasn’t gone unnoticed by Turkey and deems further development of its relations with the world’s new great power crucial.
The People’s Republic of China is one of Turkey’s crucial trade partners in East Asia, for both the export of Turkish products to China and vice versa, the import of Chinese products in Turkey.
Marble and travertine, chromium, copper, lead, iron, natural borates ores, boric oxide, boric acid are one of the main exported items from Turkey to China. In return, automatic data processing machines, wireless telephone devices, toys, audio-visual devices, cruise and merchant ships are some of the imported products from People’s Republic of China to Turkey.
Chinese investments in Turkey are around 2,8 billion USD in total. Sectoral allocation of these investments is energy, infrastructure, logistic, finance, telecommunication and livestock.
Moreover, Turkey considers tourism as a potential area for further developing economic and cultural relations with China. An increasing amount of Chinese tourists that are visiting Turkey, are also strengthening ties between Turkish and Chinese people. As a result, 2018 was celebrated as the Turkish Tourism Year in China.
How is the relationship between your country and China?
The two countries have undeniably developed commercial and cultural relations for many years and established close ties through the historical Silk Road.
Turkey aspires to develop its bilateral relations with China and thinks both countries should further strengthen and deepen bilateral cooperation through many strategic projects that are in the pipeline.
How do you see it evolving in the future?
As Turkey’s economic outlook is promising, the right policies should be formulated and put into practice to strengthen the relationships between Turkey and China.
To further strengthen the partnership, Turkey and China should work together and develop new areas for common action aimed at fostering their economic development and maintaining stability.
It’s likely that increasing the frequency of cultural, social, commercial events between Turkey and People’s Republic of China will develop economic, trade and tourism relations bilaterally.
What are your objectives at CPhI & P-MEC China?
Our objectives at CPhI & P-MEC China are to present Turkish pharmaceutical products to visitors, which are international buyers in the People’s Republic of China, to check out what Chinese pharmaceutical products are on offer in the market and last but not least,to establish the Turkish-Chinese trade dialogue system.
CPhI & P-MEC China is the most comprehensive pure pharma focused event in China, providing access to the whole pharmaceutical supply chain and the highest number of pharmaceutical machinery and equipment suppliers from China and overseas. It creates major business opportunities together with an in-depth knowledge.