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WHY Turkish Firms Should Compete in America

WHY Turkish Firms Should Compete in America. PRESENTED BY TACCI-MIDWEST OF CHICAGO ATAKAN ARICA. Agenda. Why USA Business Climate Must do Fundamentals General three prong Strategy Current business climate in USA New trends in developing countries and the world. Why US?. Geography & Size.

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WHY Turkish Firms Should Compete in America

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  1. WHY Turkish Firms Should Compete in America PRESENTED BY TACCI-MIDWEST OF CHICAGO ATAKAN ARICA

  2. Agenda • Why USA • Business Climate • Must do Fundamentals • General three prong Strategy • Current business climate in USA • New trends in developing countries and the world Atakan Arica TACCI-Midwest 2009

  3. Why US? Geography & Size Atakan Arica TACCI-Midwest 2009

  4. Buying Power PPP Current GDP power of USA: $14 Trillion annual output, $48,000 PPP Atakan Arica TACCI-Midwest 2009

  5. GDP per State Turkey’s GDP Output is very similar to Washington State Atakan Arica TACCI-Midwest 2009

  6. Midwestern States TACCI-Midwest captures 12 states including Illinois, Indiana, Michigan, Ohio, Iowa, Minnesota, Missouri, Kansas, Nebraska, North Dakota, South Dakota & Wisconsin Atakan Arica TACCI-Midwest 2009

  7. US is Still Growing Atakan Arica TACCI-Midwest 2009

  8. World Growth Rates & North America & South America GDP Real output for the world Energy sector included Atakan Arica TACCI-Midwest 2009

  9. Comparative Data US is still the largest Economy in the world by far Atakan Arica TACCI-Midwest 2009

  10. Comparative data Atakan Arica TACCI-Midwest 2009

  11. Other reasons • World’s largest open market • Great competition---- Everyone is here. Operational Excellence efforts • Mature Market---- Requires a general growth strategy, Marketing & Brand Strategy • Different than Europe, Middle-East & Asia • If you can compete in this market, you can compete everywhere else because of the demanding customers. Atakan Arica TACCI-Midwest 2009

  12. Business Climate • Requires Commitment…Long term • Start small and do your homework • Strategy & Planning Requirements • It is very favorable for Foreign Companies Atakan Arica TACCI-Midwest 2009

  13. Worlds largest Import Market US Imports in 2007: $2Trillion, Exports $1.2Trillion Atakan Arica TACCI-Midwest 2009

  14. Market Opportunities in USA Retail trade sector potential in 2010 is $5.1 Trillion…. Atakan Arica TACCI-Midwest 2009

  15. Turkish Products IN USA • Sectors and Products Turkish Exporters have competitive advantages • - • - agricultural products • processed foods • - plastics • apparel, yarns • fabrics • home textiles • marble • ceramic tiles • sanitary ware • glassware • - jewelry • copper and aluminum products, • pumps • air-conditioning equipment • machine tools • electrical equipment • home appliances • electrical and electronic cables • automotive components Atakan Arica TACCI-Midwest 2009

  16. Fundamentals • LEGAL • Contract Laws : Express and written • Product Liability Laws: Warranties etc. • ACCOUNTING • Types of Corporations, in which states • Federal Accounting Guidelines • GAAP if you are reporting • Taxes and repatriation of earnings • LABOR LAWS • Minimum Wage • Discrimination Issues: Gender, Race, Age, Americans with Disabilities Act • Proper documentation • Unions if necessary Atakan Arica TACCI-Midwest 2009

  17. Fundamentals • Understand the culture and the customers • suppliers & vendors • Hire experienced people in your field • Market Research for your products and services • Operation and Supply Chain Management • Finally, after a certain amount of time, reassess and expand if necessary Atakan Arica TACCI-Midwest 2009

  18. Three Prong Strategy- Interconnected Atakan Arica TACCI-Midwest 2009

  19. Cultural & Educational • Teach about Turkish Products & Business Environment • Learn about the American Business Environment • Learn how to deal and connect with the top management • Study in the same schools or hire talented people • Learn how to negotiate • Learn how they think & approach the issues • Understand the decision making process Atakan Arica TACCI-Midwest 2009

  20. Business Strategies Become a member of a Chamber of Commerce and industry group Attend business specific trade shows Learn to follow through Keep the utmost professionalism Work only with reputable companies Manufacturing and Service industry Logistics strategy inbound and outbound Use the services from your Commercial Attaches office Technology transfer, Joint Venture, Licensing, Mergers & Acquisitions Atakan Arica TACCI-Midwest 2009

  21. Political Strategies Keep in constant contact with your Consul General Office Know all your State and Local USA Representatives Support Turkish lobbying efforts in conventional and unconventional ways Explain & educate the importance of Turkey to all the other foreign nationals Help draft legislation if necessary Atakan Arica TACCI-Midwest 2009

  22. Current State in US • Everyone is cutting back • Shift from spending to saving. Remember 1998 Asian Crisis… • Banks are still shaky but new TARP program will inject more money into the economy • Great potential to buy companies and business • Great labor force for work…cheaper & more qualified. • Opportunities are all over. Atakan Arica TACCI-Midwest 2009

  23. Personal Disposable Income Personal Disposable Income for 2010 is projected at $11.8Trillion Atakan Arica TACCI-Midwest 2009

  24. Shift In Globalization • BRIC countries are expanding into western economies • Indian TATA bought Jaguar from Ford & CORUS Steel in UK • Chinese Companies expanding; Cherry & Geely Looking at Volvo • Ulker bought Godiva… • Shift from manufacturing to service industries • IT and Medical Imaging, Accounting, Call centers, Medical Records Management • Better opportunities for Turkey as well • Q&A Atakan Arica TACCI-Midwest 2009

  25. Contacts in Chicago Turkish Consulate General Honorable Kenan IPEK, Turkish Consulate General 360 North Michigan Avenue, Suite #1405 Chicago, IL 60601 Tel: (312) 263-0644 ext 27 Fax: (312) 263-1449 E-mail: trchicago@mfa.gov.tr Turkish Commercial Attachés Office Suleyman SOZERI , Turkish Commercial Attaché Office of the Commercial AttachéTurkish Consulate General444 N. Michigan Ave., Ste 2930Chicago, IL 60611Tel: 1 (312) 410 9005Fax: 1 (312) 410 9006e-mail: dtchi@sbcglobal.net TACCI Midwest Turkish American Chamber of Commerce & Industry, Midwest Sevil KUTAY President333 N. Michigan Avenue, Suite #932, Chicago, IL 60601Cell: 847 414 1150Tel: 847 885 8785 (direct)  312 276 5171 (office)Fax: 847 885 8707E-mail: president@tacci-midwest.org www.TACCI-Midwest.org Atakan Arica TACCI-Midwest 2009

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