Ministers from African countries and many other high level bureucrats participated in TUSKON’s third Turkey-Africa Foreign Trade Bridge, supported by the Turkish Foreign Trade Undersecretariat and was held earlier this month.

The Third Turkey-Africa Trade Bridge, organized by the Turkish Confederation of Businessmen and Industrialists (TUSKON), was officially opened by Foreign Trade Minister Kürşad Tüzmen at the İstanbul Wow Hotel.

The record number of participants and high-level representation marked the event as yet another indication of the growth business relations between African countries and Turkey have seen in recent years. “Our goal is to bring the total volume of trade to approximately $20 billion this year,” Tüzmen said, adding, “Our target for 2012 is $50 billion.”

TUSKON Chairman Rıza Nur Meral said, “Forty-five African countries, just 7 short from the total count on the African continent, are represented here, and 20 of them are represented at the ministerial level.” He added, “We would like to expand this number to include all African countries next year.” TUSKON also signed cooperation agreements with close to 30 African trade organizations yesterday. Meral called Africa a “rising star” and demanded that “more attention be given to developments on this continent from Turkish investors.”

The summit is sponsored by numerous organizations, including the Turkish Undersecretariat for Foreign Trade, and it has paved the way for exponential growth in trade opportunities between Turkey and African countries. Just in the first quarter of 2008, the trade volume between Turkey and sub-Saharan Africa increased by 200 percent. Organizers say the participation level exceeded their expectations this year, with 3,500 Turkish and African entrepreneurs taking part in around 40,000 business meetings. The gigantic exhibit hall also doubled from 5,000 square meters to 10,000 to accommodate increasing interest from both sides.

TUSKON aims to contribute to around $3 billion in trade between Turkey and Africa with this summit. Twenty African countries, including heavyweights such as South Africa, Egypt, Kenya and Senegal, sent their ministers for trade and economy to the summit this year.

In the last two years alone, the trade volume between Turkey and North African countries has increased by 78 percent both in exports and imports.

In his opening speech at the summit, Tüzmen suggested that Africa needs to take better advantage of its big potential in agricultural products, drawing attention to soaring food prices all over world. He compared the price hikes to a silently approaching tsunami and advised his African counterparts to take up the challenge by investing in agriculture and utilizing more technology. Conveying a warm message to the ministers and high-level officials from Africa in attendance, he told the audience of the famous 13th century poet and mystic Mevlana Jalaluddin Rumi’s saying, “You don’t need a mirror if you have a good friend.” Tüzmen said, “We are here to help each other,” adding: “We are not only friends but, beyond that, we are brothers. We have unity and common ground for sustainable economic development and common welfare.”

Minister Tüzmen argued in favor of much-needed financial incentives and long-term loans for African countries. He also said, “We need to implement new regulations intended to provide better access for African products into the world market.” He added, “The system should be based on equitable trade.” He stressed that Turkey, with a vision of free trade through fair commerce, can help African countries break the cycle of poverty and play a crucial role in expanding all kinds of commercial and economic ties. Henry Mane, minister of commerce and industry from African country Guinea-Bissau, responded positively to Tüzmen’s call for cooperation in overcoming the food crisis. He said, “We need to focus on enhancing production capacity,” adding, “The crisis hit Africa badly.” He noted, “Turkey can contribute greatly to the African continent by investing in our potential.”

Analysts say the volume of trade between Turkey and African countries has remained low for quite some time, but that the last few years have witnessed a positive trend. The numbers are quite surprising. The trade volume between Turkey and Africa was $5.4 billion in 2003. This number has shot up to $13 billion since then. The first quarter figures this year increased by 71 percent over the same quarter last year, reaching $4.6 billion. At this pace, the year-end estimates bring the total to $20 billion. Turkey is said to be developing a new program that caters to African countries, especially those in the sub-Saharan region, with direct foreign investment to boost trade. This week’s summit has seen many ministers from the African continent calling for investments by Turkish businessmen. South African Commerce and Industry Minister Mandisi Mpahlwa said, “The most important need for Africa is to increase production capacity, and Turkish businessmen can invest to enhance this capacity.”

Meral said yesterday, “Turkish companies can provide great contributions in the African market, especially in the construction sector.” He stressed, “Our construction quality is second to none,” adding, “Turkish companies come in third place in this sector after the US and China.” He also said, “African countries can find all kinds of goods on the Turkish market … at substantially lower prices.” He said, “With increasing trade with Turkey, African countries have started to buy more goods with the same amount of foreign reserves in the last few years.” He invited African traders to explore opportunities in many sectors, ranging from furniture to textiles and from appliances and electronics to packaging and construction.

One major obstacle to business relations between Turkey and African countries, especially in small and medium-sized business ventures, comes from the cost of transportation and logistics, experts argue. Asked what TUSKON can do in this regard, Meral said: “We are aware of this issue, and it obviously concerns us. We brought freight and logistics companies to this exhibition to address the problem.” He added, “Frankly, I think that as the trade develops between these countries, these companies will start offering better options and more competitive rates to the traders.”

Turkey is also trying to address the financial needs of the sector in that regard. Tüzmen said EximBank is ready to provide financial backing to projects between Turkish companies and their African trading partners. He said Turkey has applied to become a member of the African Development Bank and that they are working on common projects in cooperation with the World Bank and the Islamic Development Bank. Kenyan Deputy Minister of Trade James Omingo stressed Africa’s need for financing. “Africa has been an importer of raw materials for many years, but this was a bad experience for us. We have raw materials and cheap labor, but we are short of capital supply,” he said.

To complement infrastructural development on mutual trade, Turkey has, for some time now, been providing technical assistance and educational programs to African countries, and new projects are under way to enhance these programs. While the Turkish Foreign Ministry has decided to open new embassies and consulates in some African countries, the Trade Undersecretariat is also working to expand their representation at the attaché level in a number of countries. The Turkish Cooperation and Development Agency (TİKA) currently has three offices in the whole continent and they would like to open new ones to support technical education in African countries.

Tüzmen’s call for increased cooperation in controlling food prices and technology transfer echoed well among his colleagues from Africa. G. Bukenya Balibeseka, the vice president of Uganda, agreed that cooperation is important in overcoming the food crisis, especially in staples such as rice and wheat. Bukenya noted, “We have great potential in wheat and rice, but we need technology transfers to increase the value of these goods.”

Feedback from the floor

“The event was very impressive,” says Muhammed Bawa Gummi of Nigeria, comparing the level of progress with last year. This is his second year at this trade bridge between Africa and Turkey, organized by the Turkish Confederation of Businessmen and Industrialists (TUSKON). “[Last year's] was small, and we didn’t have much space,” he noted.

Gummi is a manager of foreign trade for Nigerian-based NBTS, a company dealing in textiles. “Turkish textiles are the best in the world,” he says, adding: “The quality you can find here is excellent. We are more interested in the technology that Turkish textile factories have today and looking at ways to transfer that to our factories in Nigeria.” Gummi points to the fact that Turkish textiles are not advertised much, saying, “Not many in the world know how good your textile products are.”

Another participant, Amin Jackson Opuku from Ghana, came looking for business partners in the construction field. Representing Millenium 2000 Complex Ltd, Opuku hopes to meet as many Turkish businessmen as he can to make his trip worthwhile. His friend Alhassan Clement Icezi is accompanying him and hopes to sell timber products to Turkish buyers. “We have plenty of teakwood we can sell to furniture producers,” he said, stressing the teak is much sought after timber material in the furniture business.

Yessoufou A. Aziz from the francophone African country of Benin came to the TUSKON event to look for electrical materials to sell in his country. As an import manager for his company, Ope Yemi, Aziz is searching for bargains at the TUSKON meeting.

Olujimi Adekanle is a Nigerian who works in the construction business in Nigeria’s capital of Abuja. He is looking for partners to build houses in his country. “The housing market is very much in high demand in Abuja,” he said, adding that the “government provides land and all the utilities such as water and electricity.” He also underlines that the profit margin is approximately a 70 percent return on investment. If he can sell his idea to a Turkish financier, he’ll be a happy customer on his way back home.

Source: TUSKON

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Pakistan has offered to help Bangladesh with the latter’s proposed first nuclear power reactor, which was conceived when they were a single country, but never took off, as reported by Pakistani media source.

Pakistan’s High Commissioner to Bangladesh Alamgir Babar on Monday said that his country was ready to share nuclear technology for civilian purposes to help tackle the massive energy crisis. Babar said Pakistan’s offer was “on the table” and it was for Bangladesh to decide whether the country wanted to discuss it, media sources reported on Monday.

Foreign Adviser Iftekhar A Chowdhury has already discussed nuclear energy cooperation with Russia and China after the International Atomic Energy Agency (IAEA) recently cleared Bangladesh to use nuclear power for civilian use. Russians showed willingness to help during Chowdhury’s Moscow visit last month.

“We have a programme for nuclear energy. We are going ahead with that. It is up to Bangladesh to decide what they want,” Babar told reporters.

He said discussions over the matter could take place within the parameters of the Nuclear Non-Proliferation Treaty (NPT) even though Pakistan is not a part of it. Bangladesh is a signatory to NPT.

Pakistan is the latest to make such an offer that would be viewed with interest by the strategic community.

Its bid to strike a civilian nuclear technology agreement has been rejected by the US, which has worked out a deal with India for the same. Pakistan’s traditional military ally China has also not obliged, being governed by the IAEA and the 45-member Nuclear Suppliers’ Group. Bangladesh too has sought help from China.

The project was conceived during the Ayub Khan era in 1961 to be located at Rooppur in northern Bangladesh’s Pabna district.

Several countries including the US, Britain, France and Canada had shown interest in the project when Bangladesh was part of Pakistan. And after its independence, India too seemed keen. But the project, however, did not materialise.

Bangladesh has revived the idea of the project it in the last two years since India and the US got into discussions over a nuclear deal, realising the need for meeting its growing energy needs.

Seven international oil companies have submitted bids for 15 offshore blocks as energy starved Bangladesh looks for potential gas deposits in the Bay of Bengal amid dwelling reserves exposing the economy to growing risks. In response to the South-Asian country’s first offshore bidding round launched two months ago, the foreign oil companies offered to invest $1.6 billion for 16 out of 28 blocks offered for the exploration as the state-run Petrobangla on Wednesday opened the tender documents.

Petrobangla announced the offshore bidding round in February with 20 deep sea blocks and eight shallow water blocks, each comprising 3,000 to 7,000 square kilometres.

“Twenty-five companies have purchased our promotional package and seven of them submitted bids. We are satisfied with the outcome,” a Petrobangla spokesman told the Gulf News.

Santos International of Australia appeared as the top bidder, making a total investment proposal of $852 million under three Production Sharing Contracts for six blocks in partnership with British Cairn Energy - if it is selected.

US-based company Conoco Phillips submitted four bids for eight deep sea blocks as it intends to sign four production sharing contracts, each for two blocks. A US-China joint venture, Longwoods Resources, has submitted a bid for one shallow sea block and two deep sea blocks.

Energy experts earlier called this round of bidding “crucial” for Bangladesh’s energy sector as the country desperately needs to find new gas reserves as the gas crisis is projected to be acute after 2011.

As Muslim Excellence and Competitiveness Corporations’ Award (MECCAward) was inaugurated in 2007 in Tehran and at the beginning of the second year of MECCAward the Steering Committee and Experts Committee members came together to meet in the picturesque island of Kish in May 20th, 2008.

The meeting was held in presence of Islamic countries’ delegates of chambers of commerce, including D-8 organization which was represented by its Director, Amb. Kia Tabatabaee, and heads of national excellence /quality award. This meeting centers around appointing new members of expert, steering and executive committees and also assigning next MECCAward executor in 2009. The delegates will also determine MECCAward national/international promoters and national representative office in member state of Organization of Islamic Conference (OIC).

During the meeting, the presidents and representatives of national awards of mentioned countries give brief explanation on their activities and exchange different ideas with members of MECCAward steering and expert committee. At the end of the meeting, participants issued a declaration on the the discussed materials.

In this meeting the actions and results of MECCAward 2007 were reported by the representatives of the Executive and Experts committees. The members of the Steering and Experts Committees of MECCAward discussed and agreed to the following:

1.      To support MECCAward personally by introducing it to all the stakeholders within their country through personal discussions, placing MECCAward banners on informative websites, organizing presentation seminars, and publishing bulletins. MECCAward secretariat shall fully support such activities by providing technical information and experts to assist.

2.      To select and introduce three to five companies as nominees to enter MECCAward 2008 which two shall be selected to enter the award.

3.      To increase their countries participation in MECCAward 2008 by introducing at least five expert as assessor candidates to participate in the assessment process. This will contribute to the knowledge sharing goal of MECCAward.

4.      Considering the conditions required for hosting, the Steering Committee members shall examine their country’s capability and interest to host the award ceremony and Business Excellence Forum in 2009 and 2010 and submit their official proposal to the Secretariat by July 20th, 2008. The proposals shall be evaluated and final decision will be made in the next Governance Board meeting. The meeting recognizes INQA and MUSIAD’s statement in their preparation to host the meetings.

5.      Based on the MECCAward Manual the Steering Committee and Expert Committee shall meet every six months therefore the next meeting will be held on October 20th, 2008 and the third meeting will be held on April 20th, 2009 with reference to item number four.

6.      It was agreed that Memorandums of Understanding shall be drafted and signed between MECCAward and national awards of OIC member states.

7.      A banner of MECCAward shall be suggested and followed up to be placed on IDB and OIC’s website.

8.      Forming an international promotion team to present MECCAward in OIC member states.

9.      The meeting asked the governance board to propose to IDB that it lists winners of MECCAward and a credit score for them in its annual yearbook and website.

10.  It was agreed that Memorandums of Understanding shall be drafted and signed between MECCAward and international bodies which are members of OIC such as ECO, D-8, ASEAN, and GCC.

D-8 Organisation has pledged that it will introduce Meccaward to prestigious companies in the D-8 countries, to support the success of the award in the following years.

The honorable members of this meeting praised Allah for his blessings and prayed for the success of MECCAward and the Muslim Ummah.

*(Photosource: MECCAward)

CLICK HERE TO VIEW GALLERY OF MECCAWARD

PLATINUM Energy Sdn Bhd expects to complete its 200,000-tonne-a- year biodiesel facility by July this year. The RM60 million plant is located within the company’s High Technology Biopark in Senawang, Negeri Sembilan. It is also working on commercialising a third generation biomass- to-liquid technology to produce green diesel from jatropha biomass, said its managing director Jespal Deol Abdullah.

The project includes cultivating over 200,000ha of jatropha in South Sulawesi and Banten, Indonesia.

Platinum will also collaborate with Nandan-Alphakat Pte Ltd to commercialise the biomass-to-liquid Catalytic Depolymerisation Technology (KDV technology).

“With KDV technology, the product is green diesel. It’s a direct substitute of diesel and not for blending purposes, almost no different from fossil fuel, as opposed to biodiesel (which is) blended,” Jespal said after the signing of six agreements and memorandums of understanding in Kuala Lumpur recently.

The jatropha plantation project will start in the fourth quarter of 2008. The first commercial yield is anticipated by 2010.

Platinum plans to start a pilot project for the KDV technology at its High Technology Biopark by July this year.

It will initially use biomass as its source of feedstock, specifically agriculture waste like rice husks and empty fruit bunches and shells from oil palm.

On Tuesday, India’s Nandan Biomatrix Ltd entered into a share swap deal where Nandan will end up with a 20 per cent stake in Platinum. They will also set up a joint-venture company, Nandan Platinum Sdn Bhd.

Octagon Consolidated Bhd also agreed to buy 27.4 per cent of Platinum for RM9.9 million.

Platinum Energy is an investment holding company established to develop and adopt sustainable alternative energy solutions.

Source: New Straits Times

Following the decisions taken in the 24th Session of the D-8 Commission Meeting on 22-23 November 2007 in Yogyakarta, the Indonesian authority under the Directorate General of Civil Aviation (DGCA) of Indonesia is scheduling to host the “Third Working Group on Civil Aviation and Director Generals Meeting” in Bali, on 17-18 June 2008.

Considering the shortage of time, D-8 Organization wish the relevant authorities in memberstates to inform D-8 Secretariat about their responses to participate the Civil Aviation meeting no later than 2 June 2008.

DGCA of Indonesia is expecting full professional participation of all member states to discuss any related issued to aviation.

Click here to read the related news.

Following the decisions taken in the 24th Session of the D-8 Commission Meeting on 22-23 November 2007 in Yogyakarta, the Indonesian authority under the Directorate General of Civil Aviation (DGCA) of Indonesia is scheduling to host the “Third Working Group on Civil Aviation and Director Generals Meeting” in Bali, on 17-18 June 2008.

DGCA of Indonesia is expecting full professional participation of all member states to discuss any related issued to aviation.

D-8 Organization, through its Secretary General, Dipo Alam, had encouraged the civil aviation authorities of the memberstates to develop various programs and plan, especially to boost the involvement of private sectors in the airlines, and airport construction business. He brought to mind the model of cooperation betewen Malaysia’s AirAsia, that worked with the Islamic Development Bank, Gulf-linked Crescent Venture Partners and Deucalion Capital, a Frankfurt-based global private equity fund to help finance the purchase and lease of 11 Boeing 737-300 aircraft.

D-8 organization is remarkably impressed by positive efforts from all aviation communities in D-8 countries to support and improve service, production, and business opportunities among memberstates, as has been shown in recent times.

Click here to view Gallery of the DGCA events, or go to “Gallery” Link on the top menu of this website.

Prince Karim Aga Khan, Imam of the Shia Ismaili Muslims, Monday expressed his interest in investing in various socioeconomic sectors, including financial services, education and health, in Bangladesh.

He also offered his community’s services to build bridges between Bangladesh and Central Asian countries where they have presence in promoting socioeconomic relations.

Prince Aga Khan, who arrived in Dhaka Monday afternoon on a four-day visit, expressed his willingness as he called on the chief adviser, Fakhruddin Ahmed. Before the formal meeting, Fakhrudin and Prince Aga Khan had a one-to-one parley for a while in the Chief Adviser’s office.

Responding to the Ismaili spiritual leader, Fakhruddin said Bangladesh would definitely try to take advantage of the support of the Aga Khan community in expanding trade and investment opportunities with the Central Asian countries.

Aga Khan visited the National Martyr Memorial at Savar after arriving at Dhaka airport.

Photosource: AP

Calgary-based Husky Energy has reached an agreement with China National Offshore Oil Corporation, to jointly develop the Madura BD gas and natural gas liquids field, located offshore East Java, Indonesia.

The agreement covers the development and further exploration of the Madura Straits production sharing contract (PSC). Under this transaction, China National Offshore Oil Corporation (CNOOC) will pay $125 million to Husky for a 50% equity interest in Husky Oil Madura, which holds a 100% interest in the field.

Husky holds a 100% interest in the East Bawean-II PSC, offshore Indonesia and will continue to focus on exploration and drilling activities in Indonesia. Husky has completed a 1,410sqkm 3D seismic program over this block in preparation for a two-well exploration program in 2009.

The Madura Strait PSC is located approximately 40km north of East Java and covers 2,794sqkm of exploration acreage. In 2007, Husky signed three gas sale and purchase agreements for the sale of 100 million cubic feet per day of natural gas from the Madura BD field to East Java buyers.

John Lau, president and CEO of Husky Energy, said: “CNOOC brings extensive experience and strong technical skills in operating offshore Indonesia. We are pleased to team up with a strong partner to ensure that the development of the Madura BD field proceeds expeditiously and efficiently.”

A meeting of tourism ministers from the Developing 8 countries (D8) has kicked off at the Saadabad Cultural Complex in Tehran. The meeting run from May 12 to 16 in the Irainan capital of Tehran and the central Iranian city of Isfahan, with an ecotourism exhibit scheduled to be held on the sidelines of the meeting.

The event was attended by head of Iran Cultural Heritage, Handicrafts and Tourism Organization (ICHHTO), Esfandiar Rahim-Mashaei, and the D8 tourism ministers.

The tourism ministers of eight developing Islamic countries discussed ecotourism, infrastructure and investment in tourism industry. The eight developing Islamic countries of Iran, Egypt, Pakistan, Bangladesh, Indonesia, Malaysia, Nigeria and Turkey presented a variety of strategies and approaches to boosting their countries’ tourism sector.

The objectives of D8 are to improve the position of developing countries in the world economy, diversify and create new opportunities in trade relations, enhance participation in decision-making at the international level, and provide better standards of living.

Visa-free Iran trip for D8 citizens

In the meeting, Vice Presidient Esfandiar Rahim-Mashaei, in behalf of the Iranian authorities lifted the need for visa for citizens of Developing 8 Countries Organization who want to visit Iran for tourism stays.

The Vice President in charge of Iran’s Cultural Heritage, Handicrafts and Tourism Organization (ICHTO), announced Iran has lifted the need for visa for 15-day stays in the country for D-8 citizens. “Passengers of eight developing Islamic countries can obtain their visa on arrival for tourist stays, provided they are holding valid travel documents,” Mashaei said.

“In order to ease tourists’ travel to Iran, the program offers visa-free travels but seeks passenger passport and data,” he added. He called on other member states of the group to ease the condition for the Islamic nations’ tour.

Indonesia currently chairs the D8. Malaysia will take over the rotating presidency next year.

*To view photographs taken during the meeting, please click here, or visit Gallery menu.