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Relocation In The World Economy

Relocation In The World Economy. TA GI in The Turkish Republic and Beyond İdris Can Koç TAGI - Karınca Exclusive Cooperation General Manager Beirut , Lebanon – December 2009.

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Relocation In The World Economy

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  1. RelocationInThe World Economy TAGI in The Turkish Republic andBeyond İdris Can Koç TAGI - Karınca ExclusiveCooperation General Manager Beirut, Lebanon – December 2009

  2. From 1997, Karınca Group have been the home to two of the most influential and reputable local Sworn Financial Advisory and Certified Public Accountancy firms in The Turkish Republic. • Karınca YMM and Karınca SMMM havegivenservices to more than 300 local and international clients. • It’sfounder, Mr. Mustafa Koç, is an ex-accounting expert of the Turkish Ministry of Finance, a formerTeamCoordinator of The Turkish Tax Council and a Sworn Certified Public Accountant for 18 years. Towhomdid TAGI giveitslicense?

  3. Other members of The Forum of FirmsTMare already operating in The Turkish Republic by giving their licenses to Turkish Accounting and Auditing firms. Some are operating for decades. • Karınca Grouphowever, didn’tchooseto join forces with Western Auditing Firms for the reasons of: • High Competition Among Western Firmsin The Market, • Lack of Original Methodology and Thoughts, • Low level of connection with The Middle-East, Gulf Area, Arabic Peninsula and North Africa and • Lack of familiar business cultures and character. Whydid Karınca requestespeciallyTAGI’slicense?

  4. TAGI belongs to one of the biggest groups of corporate services, TAGORG. • TAGORG houses very important companies like TAG-Capital, AGIP, TAG-Legal, TAGITI and signs under important projects as an agent with AGPRO. • TAGORG is a leader and an idol of trust in The Arab World, with regards to all aspects of business life within this region. Whydid Karınca requestespeciallyTAGI’slicense?

  5. The Turkish Republic has long been having connections with The Western World, in almost all business sectors. • After years of business, The Western World established strong bonds with the country and the “blood flow” of Turkey’s arm which is open to this part of the world, is healthy. • However, Turkey’s other arm is not open to the Arab World and is almost, “gangrene”. • Althoughtherearefortunatedevelopments, The current economicandcorporateconnections of The Turkish Republic with the Arab World is stillvery weak and the key reason to this weakness is the lack of trust. Whydid Karınca requestespeciallyTAGI’slicense?

  6. In spite of all the centuries lived together and decades of modern business life, no trustworthy professional relationship was ever established between The Turkish Republic and The Arab World. • Ready-to Wear Clothing, Construction and Food sectors struggled and still struggle to hold on, with the overwhelming efforts of individual firms and people. • However, when compared to the Western World, The Arab World is almost unknown to Turkey. • So is Turkey to The Arab World. • Thishad to be stopped. Whydid Karınca requestespeciallyTAGI’slicense?

  7. Karınca Group believed that only TAGORG could help disperse these clouds of uncertainty and mistrust between The Turkish Republic and The Arab World. • As its primary field of work and reason of reputation is • Auditing, • Accounting, • Business consultancy, • Financial Consultancy and • Investment Consultancy, Karınca Group wanted to have TAGI’s license and thus bring TAGORG’s trustworthiness to The Turkish Republic with one of its key firms. Why did Karınca request especially TAGI’s license?

  8. TheTurkishTradeCodewillchangeradically, in 2010. • Withitschange, morethan150.000companieswill be graduallyobligedto be audited, bylaw. • Currently, thisnumber is around15.000. Why now? TechnicalReasons

  9. Currently, there are more than 3.500 Middle-East, North African, Arabic and Gulf Area based firms established in The Turkish Republic. • Almost every one of them are either inactiveobserversand/or gettingtheir auditingandaccounting services from Western auditing firms. Why now? TechnicalReasons

  10. Currently, there is a foreign trade of USD 37 Billion (realized - 2008) between The Turkish Republic and The Arab World. • Not only this number is very low when compared to the possible, but also this trade volume is audited and consulted by others. Why now? TechnicalReasons

  11. There is a developing participation (islamic) banking sector in The Turkish Republic which is alsoaudited by Western Auditing Firms. • The biggest industrial companies in The Turkish Republic are trying to do business or more business with The Arab World and they are asking their Western auditing firms to be their agents and presenters here. Why now? TechnicalReasons

  12. It is mostpossibletomakeTheTurkishcompaniesseeandunderstandthat: • TAGI is theonlyauditingfirmin theworldwhich can trulyandprofessionallygivethemtheservicestheyneedwithitsinternationalpermitsandprivilegestogetherwithitsspecialknowledge of theArabWorld, and • Introducethemto TAGORG, whichwillmakethemfullybenefitfromandgivebenefitto; whilesafelyconnectingtoandfrom, thisregion. Why now? TechnicalReasons

  13. TheConnection of TRUST Why now? Global Reasons

  14. The Global Economic and Financial Crisis is the biggest catastrophe ever experienced by any sense. • The Crisis started in 2007 and it did not end. • And the end is not near. • To have the least damage from The Crisis, one must not act alone; be it companies or countries. Whynow?Global Reasons

  15. Facts about Turkey: as of 2008 • Population: 73.910.000 (Worldbank) • GDP: USD 794 Billion (Worldbank) • Currency: Turkish Lira – 1,5.-TL = 1.-USD (2009) • Borders to: Central Asia, Europe and Middle East • Religion: Islam – 98.9% of population • Capital: Ankara • Biggest City: Istanbul • Population: 14.000.000 (State Statistical Inst.) • GDP: USD 193 Billion (State Statistical Institute) Whynow?Global Reasons

  16. NewsaboutTurkey: December 2009 • MerrillLynch East Europe, Middle East andAfrica (EEMEA): Turkey’sGrowthwill be 4.3% in 2010 andwillincrease. • OECD:Turkeywill be thefastestgrowingcountry in OECD between 2011-2017 with an averagegrowth of 6.7% in GDP. • IMF: TheStrongGrowth in Turkeywill start in 2010. • Citigroup: Turkeywillgrow 4.2% in 2010, 5.5% in 2011, 5.8% in 2012 and 6% in 2013. • FitchRatings: CreditNote of Turkey, raisedfrom BB- to BB+, CountryCap: BBB- GDP percapitaabove BBB (investmentthreshold) level. Whynow?Global Reasons

  17. NewsaboutTurkey: December 2009 • Sukuks: AlthoughTheTurkishTreasurysaysthatthereare no preparations of IslamicFinanceBondsfor 2010 “fornow”, bothIstanbulStock Exchange andtheMinistry of Financearemakingprogress in thedevelopment of SukuksandSukukbased “IncomeSharingBonds” or “GulfBonds” market. TheworkaboutSukukshavestarted in 2003. • Gold: Afterthelatestrise in GoldPrices, theprice of 5000 tons of gold, thoughtto be “underthemattress” savings of Turkey has become USD 192 Billion. (IstanbulGold Exchange Data - 2009) TheweakthoughtsforGoldpricestorisefurther can transfer thisvolumetoSukuksorotheralternativefinancialinstruments. Whynow?Global Reasons

  18. TurkishGovernment’sThoughtsforMiddle East, GulfAreaCountries, ArabicPeninsulaand North Africa: • Prime MinisterMr. Recep Tayyip Erdogan: “Withitsyoungpopulation, richnaturalresources, mosaic of culturesandvastexperience, TheMiddle East has givengreatbenefitstoTheHistory of Mankind. TheMiddle East shouldonceagainbecome a place of culture, science, art, peaceandprosperity. Wewilltryto do ourbestwhenever a duty is givento us.” • Middle East Consultant of President of TheTurkishRepublicMr. Abdullah Gul, Mr. ErsadHurmuzlu: “Turkeybelievesthat no countryorregionmust be supportedbecause of anothercountryorregion. Turkey’spolicy is not toemphasizeitspoliticalviewstoanycountry. TurkeywantstheMiddle East to be peacefulandconsistent.” Whynow?Global Reasons

  19. NewsaboutIstanbul: 2009 Q3-Q4 • Istanbulhoused, boththe IMF AnnualMeeting on October 2009 and COMCEC Business Forum on November 2009, in IstanbulCongressCenter, 500 metres fromouroffice. • Istanbul is chosen as TheEuropeanCapital of Culturefortheyear 2010. A marketing budget of USD 100 Millionwill be usedforthisspecialty. • Onedayafterourlicensingsignatureceremony on 30th September, 2009, TheOfficialGazette of Turkeypublished an Action Plan formakingIstanbultheRegion’s, andthentheWorld’sFinanceCenter, untiltheyear 2012. Whynow?Global Reasons

  20. The Chairman of The Standing Committee For Economic and Commercial Cooperation Of The Organization of The Islamic Conference (COMCEC) is permanently, The President Of The Turkish Republic, currently, Mr. Abdullah Gul. COMCEC is celebrating its 25th anniversary, with its 57 member states. • The Elected General Secretary of The Organization of The Islamic Conference (OIC) is Mr. Prof. Ekmeleddin Ihsanoglu, from Turkey. OIC is celebrating its 40th year with its 57 member states in 4 continents. • The Vice President of Eurochambers is also The President of The Union of Chambers and Commodity Exchanges in Turkey, Mr. Rifat Hisarciklioglu, from October 2009. • Chairman of The World Chambers Federation is Mr. Rona Yircali, from Turkey, who is re-elected on December 2009. World Chambers Federation works under ICC (International Chamber of Commerce) As Mr. Talal Abu-Ghazaleh is an executive board member of ICC, Mr. Rona is also an ex-officio executive board member of ICC. Whynow?Global Reasons

  21. WhatwillTheTurkishGovernmentNeedtomaintainanddevelopthesepositiveforecastsand global standing? • JCR (JapanCreditRatings): Turkeyneedsexternalfinancing. • Citigroup: Global DemandforTurkey has toincrease, andplannedprivatizationshaveto be realized. • MerrillLynch: LowCurrentAccountDeficit, LowInterestRatesandLowInflationhaveto be maintained, unemployment has to be decreased. • Fitch: Turkeyneeds a GrossExternalFinancialRequirement of USD 66bn in 2010. • OECD: Theongoinginvestortrustimprovementshaveto be maintained. Whynow?Global Reasons

  22. Therefore, economically, • TurkeyneedsandplanstoattractForeignDirectInvestments (FDIs), especiallyfromourregionto plan, organize andrealizeimportantprojects, whichwouldhelp not onlyTurkey, but all. • Also, TurkeyneedstoimplementSukuksandotheralternativefinancialinstrumentsrapidlytodeservetheplace of at least a regionalfinancecenter, gainadequateexternalfinanceand “underthemattress” savings. Whynow?Global Reasons

  23. This can only happen when The Connection of Trust is established between countries, companies and business people; between Europe, Central Asia and Our Region. Whynow?Global Reasons

  24. As seen from all above, Turkey can act as a bridge and a gate with double doors opening both to Europe and Central Asia, and Middle East. • Never before has our region gathered this much Realizable Economic Possibility (REP). Whynow?Global Reasons

  25. Trust in EconomyandCommerce in OurRegion can only be gainedby a CorporateServicesGroupwith: • StrongProfessionalism, • StrongCorporateRelations, • StrongKnowledge of TheRegion’sBusinessCulture • StrongReputationand • StrongExperience, which is: Whynow?Global Reasons

  26. TAGORG Whynow?Global Reasons

  27. ActOne Boosting TAGI with TAGORG, in Turkey Whatnow?

  28. FACTS • The TAGI-KarincaCooperation can giveanykind of auditing, accountingandconsultingservicestoanyandeverycompanyandproject in Turkey. • However, auditingandaccounting has systemswithalmostsimilardocumentationandmethodology. • Thereforethecompetition in the market, is high. Whatnow?

  29. FACTS • Thedifference, • Beingchosenfromwithinthecompetition, • Comesfrom, CONSULTANCY Whatnow?

  30. FACTS • The TAGI-KarincaCooperationwill be usingthecombination of: • TAGI’soriginsfromandexperience in TheMiddle-East, • It’s 35-yearcorporatehistoryandplacement in The Forum of Firmsand • Karınca Team’sexperience, prestigeandknowledge in Turkey togainlocalandinternationalclients. Whatnow?

  31. FACTS • But also, no auditingandaccountancyfirm in Turkey, otherthan TAGI-KarincaCooperation is under a corporateservicesgroup, letalonesuchlike TAGORG. Whatnow?

  32. FACTS • IfTAGORG’sservices, reputation, connectionsandactivitiesareseenandunderstoodby (cleverlypromotedto) theTurkishGovernment, companies, associations, institutionsandauthorities, Whatnow?

  33. FACTS • Andif TAGI-KarincaCooperation can canalizeitsclientsto TAGORG whentheyneed • investmentconsultancy, • investorsfortheirprojectsorassets, • entrepreneurialaid, • legal aid, • professionaltraining, • intellectualpropertyservices, • IT servicesor web designservices, Whatnow?

  34. FACTS • Then TAGI-KarincaCooperation, bothwith, • itsoriginsand • itspossibilitiestogetthem in closeconnectionwithTheArabWorldvia TAGORG, Willhave a specialandalmostcompetition-freeplace in theTurkishauditing, accountingandconsultancy market. Whatnow?

  35. FACTS Withthissystem, both TAGI will be boosted in TurkeywithTAGORG’sexistenceand TAGORG willgainadditionalincomeandbusinesstoitsothercompanies. Whatnow?

  36. FACTS Karınca is currentlydoingthe marketing of TAGI andindirectly TAGORG, in this sense. Bythisway, not onlythebrand-recognition of TAGI but alsothat of TAGORG willincreaserapidlyandsimultaneously, in Turkey. Whatnow?

  37. FACTS Untilnow, The TAGI-Karınca Cooperation has beenpublished in 12 nationalnewspapersincluding Hürriyet (Thebiggestsellingnewspaper of Turkey) and Dünya (Thebiggestfinancialnewspaper in Turkey) Whatnow?

  38. FACTS IncludingBusinessWeekTurkey, ourcooperation has beenfeatured in 3 financialmagazines. There has been a one-hour TV program on one of thenational TV channels (Kanal 24) featuringMr. Mustafa Koç andmyselfonly, as thecooperators of TAGI. The program created a bigsuccess. Whatnow?

  39. FACTS Almostall of theTurkishEconomyMediawantsto do interviewswithMr. Talal Abu-Ghazalehandwantstoknowmore of TAG-Org and TAGI. Whatnow?

  40. FACTS Andthis is justthebeginning…

  41. ActTwo TAGI-Karınca and TAGORG as creatorsandagents of region-wideinvestments Whatnow?

  42. On Turkey’sside, therearemanyinvestments, withwhichalltheregion can benefitfrom. • Thesectorsare: • Energy, (Hydro-ElectricPowerPlants, Dams, NaturalGasDistribution) USD 10 Billion • Infrastructure, (3rd BosphorusBridge, Highways, Railroads, Airportsetc.) USD 5 Billion • EducationCitiesforStudent Exchange, (Erasmus of Middle-East) USD 2 Billion • HealthTourism, (Thermal, SpaCities) USD 3 Billion Whatnow?

  43. FamilyEntertainment, (Disney Antalya) USD 4.5 Billion • Port - ShipyardManagementandConstruction, (TheFilyosPort) USD 4 Billion • Agricultural Technologies, (The South-East Anatolia Project – SEAP (GAP)) USD 20 Billion • Information Technologies, (e-commerce, nation-widenetworks) USD 1 Billion • FairandExhibitionCitiesManagementandConstruction (Istanbuland Antalya) USD 8 Billion Whatnow?

  44. The total cost of investments in those sectors is close to USD 60 Billion. • All these investments are either planned with their locations ready or waiting to be developed. • Many of those investments do not only require business plans, capital and necessary permits, but also cooperation of associations, chambers and institutions. • If The TAGI-Karınca Cooperation and TAGORG act as an agent to get countries, companies, associations and institutions together by recreating trust in all aspects with its professionality, reputation, connections and experience, then, investors to those investments can be found and joint-ventures of (even) countries can be formed by us. Whatnow?

  45. Beingthecapitalprovidingagents of theseprojectswouldalmostautomaticallygivetheirauditingandconsultancybusiness. • IfThe TAGI-KarincaCooperationand TAGORG act as thefinancialconsultants, auditorsandcapitalprovidingagents of theseprojectsrespectively, TAGI and TAGORG wouldsurelyandgreatlyimprovetheirinternationalstanding in a fewyears’ time. Whatnow?

  46. The Global EconomicCrisiswillendafter a seriousperiod of time. • TheRealizableEconomicPotential in ourregion has neverbeenthismuch. • TheTurkishRepublic, politicallyandeconomically has neverbeenthisclosetoourregionbefore. • TheWorldEconomy is lookingtowardsourregionforone of thefew “exits” out of TheCrisis Conclusion: RelocationInTheFuture Of WorldEconomy

  47. At the same time, The Arab World is looking for a safe and secure way to connect to Central Asia and Europe. • There is no better way to use Turkey as a gate with double doors from Europe and Central Asia to The Arab World and vice versa then to implement The Karınca/TAGI - TAG-Org system in the connection. Conclusion: RelocationInTheFuture Of WorldEconomy

  48. It is theonlywaytoestablish a “Connection of Trust” betweencountriesandregions. • Accounting, AuditingandConsultancyaretheidols of trustandprofessionalityto form thefoundations of thisconnection. • The Karınca-TAGI Cooperationwouldcreatethetrustmechanismand do the marketing of thesystemtosafelysendtheprojectsandcustomersto TAG-Org. Conclusion: RelocationInTheFuture Of WorldEconomy

  49. Andtheservices of TAG-Org wouldsealthedeals. • Thisway, TAG-Org would be thegrouptopromoteourregiontorelocateitself in a betterplace, in thefuture of WorldEconomy. • The Karınca Groupwould do anything in means of professionalconnections, corporatetrustandethicstoaccomplishthisimportantmission. Conclusion: RelocationInTheFuture Of WorldEconomy

  50. May Allah be with us all… Thank you

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