The first edition of the “Türkiye Century Investment Reception" series, hosted by the Investment Office, convened at the Turkish Embassy in London on June 12, with ministerial level participation from the UK and members of the Turkish and UK business circles in attendance.
The reception featured an in-depth overview of Türkiye's investment climate, one-on-one meetings with representatives from various industries, as well as keynote addresses by the Turkish Ambassador to London Osman Koray Ertaş and Investment Office President A. Burak Dağlıoğlu. Among the reception guests were also Türkiye Wealth Fund CEO and Board Member Arda Ermut and UK Minister for Industry and Economic Security Nusrat Ghani.
In his remarks on the bilateral relations between the UK and Türkiye, Ambassador Osman Koray Ertaş said, “Economic and commercial ties are the pillars of our cooperation with the UK. Backed by the strong course of our political relations, we aim at further cementing our cooperation in these domains. The private sectors in both countries are driving this effort, while our government is likewise working hard to support our business community. In this vein, I would like to extend my gratitude to the Investment Office for its endeavors in London. With these endeavors, we will continue to attract more UK investment to Türkiye and provide our exporters with new prospects."
Taking the floor at the reception, UK Minister for Industry and Economic Security Nusrat Ghani said, “The UK and Türkiye have strong relations, including as NATO allies. Our partnership remains solid in the good and the bad times. Our bilateral trade is at the highest level ever with a growth of over 30 percent in the last year alone. The UK was ranked as the top investor in 2021, accounting for a 19 percent share in overall FDI inflows to Türkiye. In 2020, Turkish businesses invested more than a quarter of a billion pounds in the UK. These are not simply big figures; they represent enormous opportunities for people and businesses across the UK to create jobs, drive productivity, and deliver growth. The FTA signed by our nations in 2020 has been key to this success, ensuring that our businesses keep trading freely and that our shared supply chain remains protected. We should continue to bolster our respective strengths and areas where our trade flows complement each other in key sectors such as automotive, textile, machinery, and metals. We should also look to diversify our investment in growing sectors such as services and digital."
Investment Office President A. Burak Dağlıoğlu attended the reception following his visit to London Tech Week, one of Europe's top innovative investment and tech startup conferences that took place the same week.
Commenting on the reception, Dağlıoğlu emphasized the contribution of Türkiye's investment environment to economic cooperation with the UK and delivered key messages regarding the Turkish entrepreneurial ecosystem. “Today, we had the pleasure to meet with representatives of the UK business community in London on the occasion of the Republic of Türkiye's centennial. The UK, as is well known, is one of the countries with which Türkiye has the highest trade surplus and strategic partnerships in all domains. The UK is Türkiye's 4th largest export and 11th largest import partner. FDI inflows from the UK have surpassed USD 13.5 billion since 2002, while around 3,200 UK-based companies operate in Türkiye," Dağlıoğlu stated. He added, “Under the auspices of President Recep Tayyip Erdoğan, we will continue our efforts to attract international investors, particularly from the UK to Türkiye as we step into our Republic's second century, dubbed the Türkiye Century. In this regard, fostering the success of Turkish tech startups on the international arena and luring international investors to our entrepreneurial sector are our top priorities. Today, the Investment Office also attended London Tech Week with representatives of Türkiye's entrepreneurial ecosystem as part of its support for innovation-driven investments that add value to the Turkish economy."
Meanwhile, Türkiye Wealth Fund CEO and Board Member Arda Ermut touched on the Istanbul Financial Center project, saying, “The Istanbul Financial Center is one of our strategic investment projects that we are working on to boost Türkiye's financial competitiveness in the international arena and to position Istanbul as a leading global financial center by contributing to the development and expansion of financial markets, products, and services. In line with these targets, the Istanbul Financial Center provides individuals and institutional investors willing to invest in Istanbul with a significant entrepreneurial ecosystem. The center brings together public and private sector banks, asset management corporations, brokerage houses, insurance companies, professional service vendors, as well as Turkish and international financial and regulatory bodies. With its solid legal framework, world-class and cutting-edge technology, and 'smart city' facilities, the Istanbul Financial Center boasts more than 1.5 million square meters of climate and environmentally friendly offices, retail spaces, a convention center, and a 5-star hotel."