The Confederation of Italian Entrepreneurs Worldwide, CIIM, founded in 2004 by the Minister for Italians Abroad, aims to represent 65 million Italians who hold important corporate positions around the world. CIIM EurAsia Med, is the branch in Turkey and its President is Aldo Kaslowski.

Last March 31 CIIM EurAsia Med, organized the online event “A Way to Grow. Why to Invest in the Central Eastern Europe”. Opening and welcome edited by Mr. Aldo Kaslowski, with the participation of Italian Ambassador Massimo Gaiani. The keynote speker has been Niccolò Ubertalli CO-CEO Commercial Banking Central Eastern Europe at UniCredit, together with many prestigious representatives of the institutional and private sector.

I am very happy to have the opportunity to reunite the members and friends of our confederations, and once again thank you for your invaluable contribution in making it happen - said President Kaslowski - CIIM's goal is to enable its members to work cooperatively on foreign markets to promote innovation and the opportunity to exchange experiences, ideas and contacts. Participating members hold high-ranking positions in today's business community. Since its foundation, C.I.I.M. EurAsiaMed organizes events called "Dialogue" that create an influential networking between Italian entrepreneurship in the world and the local one”.

Ambassador Gaiani gave an introductory speech to the event. “I am pleased to underline that our bilateral relations with Turkey are at an excellent level. In 2020 we had a rhythm of visits without precedents in the last years which culminated in the second edition of JETCO in December. In 2021, as underlined by our new Prime Minister in his inauguration speech, we see a strong continuity in considering Turkey as a strategic partner and a key player in several crucial areas, starting from Libya. In 2020 we confirmed the crucial importance of our economic relations: Italy was the second European commercial partner of Turkey and the first investor in Turkey at the global level. I strongly believe that the re-definition of value chains triggered by COVID can increase the appetite for investing in Turkey. We must be aware of the importance of Italian companies in Turkey and work together to promote business and partnership with Turkey”.

We expect  the economic  recovery in Central & Eastern Europe to pick up in the second half of 2021, with full-year growth at 3.9% in central Europe, 4.7% in Turkey and 2.9% in Russia – said Niccolò Ubertalli - The recovery follows a GDP decline in 2020 in all CEE countries but Turkey. Turkey was one of the few countries globally to avoid an outright recession in 2020,  despite the impact of Covid-19”. In 2020, the government provided a sizable stimulus via bank lending, which boosted domestic demand and led to a strong rebound in 2H20. The economic recovery has been uneven across sectors: manufacturing was already above pre-crisis level as early as 3Q20, whereas several service subsectors (food and accommodation, travel) are still lagging behind due to pandemic-related restrictions. We expect recovery to continue gradually in 2021, although the pace may vary with the control of the pandemic. The ease of restrictions both domestically and in trade partner economies – continue - along with a partial recovery in tourism revenues over summer will support economic activity. Turkey has many advantages supporting its fast economic recovery. It has a very favorable geographical position, linking Europe and Asia, which are important markets of reference for the international companies, but also to 70% of the primary energy sources in the world. Turkey also has a very young population. The median age of the population is less than 32 years, which contributes to preserve the entrepreneurial spirit of the country as well as an open-minded and flexible attitude towards business: despite Covid-19, more than 100 000 new companies were established in Turkey in 2020, 20.5% more compared to 2019 (this is based on elaboration of Turkish Union of Chambers and Commodity Exchanges data, January 2021). Turkey has a proven track-record in attracting foreign direct investments (FDIs) in the last decades. The cumulated FDI inflows to Turkey reached 213bn US dollars in 2020, while in 2000 the total inflows stood at 19 bn US dollar according to data from the international investment position of the country”.

 

 

Tribuna Economica©

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