SWOT Analysis. Strengths. Weaknesses. Opportunities
|
|
- Conrad McCormick
- 6 years ago
- Views:
Transcription
1 c hc ah pa tp et r e5r 1 Business Political Environment Outlook SWOT Analysis Strengths Recent structural reforms, especially those aimed at improving transparency and increasing capitalisation within the banking system, should increase private-sector liquidity. Turkey benefits from membership in a customs union with the European Union, which makes it a very attractive platform for export-oriented manufacturers. Monetary policy is now transparent and oriented towards stabilising inflation. A new code of conduct for civil servants is being implemented to increase transparency and reduce instances of corruption. High levels of literacy and foreign language skills. Weaknesses High external debt increases the economy s vulnerability to investment flows. Widespread tax evasion. Procedures for hiring and firing staff are more highly regulated than in developed European states. Opportunities Draft legislation has been prepared to streamline permission and approval procedures for investors. The government has pushed forward new pension and labour code reforms which should lower labour costs for businesses. The commencement of EU accession negotiations increases Turkey s attractiveness for new FDI. Threats Renewed terrorist attacks could prompt capital flight, resulting in a new economic crisis. Turkish businesses will not be immune to worsening credit conditions globally, with borrowing costs expected to rise. 43
2 turkey Q BMI Business Environment Risk Ratings Turkey s business environment ranking continues to be weighed down by broadly weak infrastructure, institutional development and market orientation component ratings. That said, the government s commitment to EU convergence reforms and infrastructure investment programmes bodes well for the long term. Certainly, the outlook is positive even amid the recession and we expect Turkey s business environment rating to rise through the medium term. Business Environment Rank Trend Estonia = Slovenia = Lithuania = Cyprus = Latvia = Czech Republic = Hungary = Slovakia = Croatia = Poland = Greece = Armenia = Bulgaria = Georgia = Romania = Turkey = Serbia = Russia = Macedonia = Ukraine = Kazakhstan = Azerbaijan = Albania = Bosnia-Herzegovina = Belarus = Kyrgyzstan = Tajikistan = Turkmenistan = Uzbekistan = Montenegro - 49 = Regional average 57.3 Global average 50.1 Emerging Markets average
3 business environment Business Environment Outlook Introduction The pro-business Turkish government has been proactively working to move the country toward EU membership. In that vein, it has instigated a number of key institutional reforms that have helped to harmonise the country s business regulatory framework to international standards while also significantly opening the country to foreign investors While problems remain, including corruption at the local level and copyright infringement, we believe that the legal framework established in recent years should go a long way to help to alleviate these issues over the long term. TABLE: BMI BUSINESS AND OPERATIONAL RISK RATINGS Infrastructure Institutions Market Orientation Overall Albania Armenia Azerbaijan Belarus Bosnia and Herzegovina Bulgaria Croatia Cyprus Czech Republic Estonia FYR Macedonia Georgia Hungary Kazakhstan Kyrgyz Republic Latvia Lithuania Moldova Mongolia Poland Romania Russia Serbia Slovakia Slovenia Tajikistan Turkey Turkmenistan Ukraine Uzbekistan Global ave Region ave Source: BMI. Scores out of 100, with 100 representing the best score available for each indicator. 45
4 turkey Q Latest Developments Turkish Prime Minister Tayyip Erdogan announced a major stimulus package on June 4 to halt spiralling unemployment. Corporate tax rates would be cut to between 2-10% depending on the region, down from a current national rate of 20%. Erdogan also announced plans for a loan guarantee fund for small and medium-sized enterprises. We are cautious about the effectiveness of these measures, especially as global demand conditions are forecast to remain weak through to With sales, revenues and profits contracting in 2009, it is unlikely that the tax reduction will do much to bolster corporate positions this year. Moreover, by targeting differential tax rates for varying regions, we are concerned that the programme will only shift investments around the country as opposed to stimulate any new greenfield projects. TABLE: BMI LEGAL FRAMEWORK RATINGS Investor Protection Rule of Law Contract Enforceability Corruption Albania Armenia Azerbaijan Belarus Bosnia and Herzegovina Bulgaria Croatia Cyprus na 85.6 na 61.3 Czech Republic Estonia FYR Macedonia Georgia Hungary Kazakhstan Kyrgyz Republic Latvia Lithuania Moldova Mongolia Poland Romania Russia Serbia Slovakia Slovenia Tajikistan Turkey Turkmenistan Ukraine Uzbekistan Global ave Region ave Source: BMI. Scores out of 100, with 100 representing the best score available for each indicator. 46
5 business environment The Turkish Ministry of Finance announced on June 3 that it had signed a US$220mn loan deal with the Islamic Development Bank to help build 80 electric locomotives. The loan, which has a 19-year maturity, is part of a long-term government objective to diversify its transport infrastructure and expand rail capacity to facilitate business growth. While a relatively small project, this is a positive development, especially as Turkey s rail network outside the major metropolitan centres remains under-developed. Up to 20,000 people protested against the Turkish government in a demonstration held in Ankara on May 17. The protestors were criticising the perceived anti-secularist policies of the government as well as its handling of the economic recession. Mass protests are fairly common in Turkey s capital, and the vast majority are entirely peaceful in nature, posing very limited security and business environment risks. That said, as the unemployment rate spirals higher in 2009 and the economic recession deepens, we caution that the size and rate of protests are likely to rise. Turkish unemployment hit a record high of 16.1% in the first quarter as firms across most key sectors shed output to cope with collapsing demand. Going forward, we expect the jobless rate to remain elevated though stress that further increases are likely to be limited. Indeed, we hold to our end-2009 forecast of 16.0%. Turkey s Privatisation Administration (OIB) announced on May 8 that it would renew a tender for the sale of the country s lottery by end-2009 after an initial sale attempt on May 7 failed. The OIB had put a US$1.62bn minimum price, well above what any of the potential buyers were looking to bid. The failure of the initial sale is not a positive signal and suggests that the OIB might not be serious about pushing through the privatisation agenda this year. That said, its quick announcement that it would make another attempt to sell the firm within six months is encouraging. Institutions Legal Framework Turkey s judiciary is vigorously independent, with a history of counteracting central government legislation. This does not mean though, that it lacks political proclivities. Indeed, the courts, especially at the higher levels are known for their conservative, secular standpoint and have tended to side with opposition political parties and labour unions against major privatisations and EU and IMF-mandated political and structural economic reforms. In terms of corporate dispute resolution at the lower court levels, the Turkish judiciary generally has the experience and legislative framework to adequately enforce contracts and property rights. That said, an increase in corporate activity over the past five years has not come with a concomitant increase in the capacity of the court system and this does mean that decisions can be slow. While international arbitration is an option, with Turkey a member of the International Centre for the Settlement of Investment Disputes (ICSID), it is not entirely guaranteed that domestic courts will uphold the ruling. There has been at least one case where an international arbitration decision was not upheld by 47
6 turkey Q Turkish courts and in some cases, the judgements of foreign courts must be first executed by a local equivalent before they are accepted and enforced. With foreign firms not allowed to practice Turkish law, the legal market in Turkey remains dominated by domestic companies. That said, as a requirement for EU membership, the government is moving to open the sector to foreign interests, albeit gradually. As a result, major international firms are increasingly establishing relationships with local firms. It is these partnerships that tend to have the greatest expertise in international corporate law, though they also will charge at the upper end of the US$ an hour average rate for a partner. Property Rights Property rights are well-respected in Turkey, with private firms having the right to purchase, sell and establish full business interests. An established land registry ensures the security of real property rights while the legal system is generally well-experienced with upholding contractual agreements and ownership rights. Expropriation can occur, though the government in recent years has withheld this to only when deemed necessary for public works or major industrial projects. Property owners subject to expropriation can challenge the government-offered purchase price through the court system. Nationalisation is not seen as a major risk in Turkey. Intellectual Property Rights To help stem a perennial problem over copyright violations, Turkey has signed several international protocols regarding the protection of intellectual property rights (IPR) and, in line with membership in the World Trade Organization (WTO), has signed the key Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS). Moreover, domestic law concerning intellectual property is now among the strictest in Europe, acting as a deterrent for copyright infringement. Pirated media is banned from sale on the street and law enforcement agents have the authority to pre-emptively act against copyright infringement without an original complaint from the rights holder. That said, problems over trademark violations and patent infringement persist and as a result, the country continues to be placed on the US government s Special 301 priority watch list for insufficient protection of IPR. Corruption Turkey ranks 58 of 183 countries in the 2008 Transparency International Corruption Perceptions Index, tied with Poland and Lithuania and ahead of new EU members Bulgaria (70) and Romania (72). In recent years, the government has worked to strengthen the country s anti-corruption framework, reinforcing existing legislation while improving the capacity of state agencies charged with addressing the issue. In 2003, the government signed the OECD convention on Combating Bribery of Public Officials and in 2006 ratified the UN Convention Against Corruption. The criminal code has been brought into line with international standards, even exceeding the US Foreign Corrupt Practices Act in the duration of penalties in some cases. Moreover, a new Corruption Investigations Committee, under the authority of the Prime Ministry has been established to investigate 48
7 business environment high profile corruption cases. Corruption mainly remains a problem at the local level, with bribery cases reported for government procurement projects in particular. That said, we stress that while malfeasance is a concern for foreign investors, it is by no means a significant risk. Indeed, we maintain that the outlook for the corruption situation in Turkey is positive, and that new public procurement reforms designed to make the process more transparent, should help to mitigate the likelihood of bribery solicitations going forward. Infrastructure Physical Infrastructure Turkey s physical infrastructure varies substantially from the relatively well-developed western industrial region and the sparsely populated agrarian east. Indeed, the transport network between the three largest cities of Istanbul, Izmir and Ankara is very efficient, with modern motorways and high capacity railways easing the flow of goods and people. A long-established and advanced port system, centred at the port of Izmir also facilitates significant goods trade flows. In general, Turkey s international connections have long been well-served. Not only has there been an international rail connection between Turkey and Europe for decades, but this is now complemented by ultra-modern airports at Ankara and Istanbul. Both cities are served by new passenger terminals constructed in 2001 and 2006, respectively. Notably, Ataturk International Airport in Istanbul acts as a regional hub, with non-stop services to all major European destinations and most central Asian, Caucasus and middle-eastern destinations. Beyond Istanbul, Izmir and Ankara though, the transport network is less amenable. The quality of the road network deteriorates and the level of rail transport is insufficient beyond these cities. Indeed, despite the size of the country, Turkey currently only has 8,697km of railway. That said, the government is working to invest billions of lira into improving infrastructure throughout the country over the long term. Part of this plan involves direct budgetary injections from the central government, though it is also anchored by a major privatisation initiative, which should see the government sell off ownership of major highways, bridges and ports. It is important to note that the government plans call for a substantial investment even in the remote south-eastern region of the country. On March 12, Prime Minister Tayyip Erdogan pledged to spend US$12bn over a five-year period to build two large dams, a system of water canals and pave a large road network in the provinces along the Syrian and Iraqi border. Indeed, we expect Turkey s electricity, transport, telecommunications, housing and energy transit infrastructure to undergo a significant transformation over our five-year forecast period, as the country s economy accelerates toward EU convergence. Our core view is that foreign investments into infrastructure will continue to be liberalised along with regulatory reforms and the privatisation drive, government capital expenditures will be bolstered by rising revenues and the development of Turkey as an energy transit corridor between the Caucasus and Europe will continue to provide the impetus for new infrastructure projects. 49
8 turkey Q Labour Force Turkey benefits from one of the largest and youngest labour pools in Europe, with a population of just over 70mn, two-thirds of which are between the ages of 15 and 64. While basic education in Turkey is generally satisfactory, reflected in the 87.4% literacy rate, technical education lags, especially relative to the former communist emerging Europe countries. Indeed, while the country has a boon of low-skilled labour, there is a shortage of highly skilled labour. This has prompted many firms operating in the country to rely on in-house training programs. Owing to the country s established tourism industry, foreign language skills are prevalent, especially in the larger metropolitan centres along the western coast. Labour relations tend to be good, though short duration isolated strikes have been known to occur. Mass action is uncommon, though a two-hour strike including doctors, civil servants and industrial workers did take place on March 14 to protest against proposed changes to the social security system. TABLE: LABOUR FORCE QUALITY Literacy (%) Ave. schooling, years Post-Secondary Completion, % Albania 98.7 na na Armenia 99.4 na na Azerbaijan 98.8 na na Belarus 99.7 na na Bosnia and Herzegovina 96.7 na na Bulgaria Croatia Cyprus Czech Republic Estonia FYR Macedonia 96.1 na na Georgia na na na Hungary Kazakhstan Kyrgyz Republic 98.7 na na Latvia Lithuania Moldova Mongolia 97.8 na na Poland Romania Russia Serbia 96.4 na na Slovakia Slovenia Tajikistan Turkey Turkmenistan 98.8 na na Ukraine 99.4 na na Uzbekistan 99.3 na na Source: BMI. Scores out of 100, with 100 representing the best score available for each indicator. 50
9 business environment Market Orientation Foreign Investment Policy The Justice and Development party government has made major strides to open the economy to foreign investors since it was first elected in In keeping with its position that foreign direct investment will be a major driver of Turkey s EU convergence objectives, the government has lowered corporate taxes, lifted regulatory impediments and implemented a major privatisation initiative. Currently, most of the Turkish private sector is open to foreign investors and national treatment is generally accorded to foreign firms operating in the country. There are ownership restrictions in certain key industries though, including 25% for broadcasting and 49% for aviation and maritime transportation. Government permission is also required for foreign ownership in the banking, insurance and petroleum industries. Table: Europe, FDI Annual Inflows US$bn Per capita US$bn Per capita Armenia Azerbaijan Belarus Bosnia-Herzegovina Bulgaria Croatia Cyprus , Czech Republic Estonia , Georgia Greece Hungary Kazakhstan Kyrgyzstan Latvia Lithuania Macedonia Moldova Montenegro Poland Romania Russia Serbia Slovakia Slovenia Tajikistan Turkey Turkmenistan Ukraine Uzbekistan Source: UNCTAD, BMI. 51
10 turkey Q Going forward, we expect the environment for foreign investment to continue to improve over the long term as the government moves to further integrate the economy with that of the EU. In 2006, the Prime Ministry created the Investment Promotion Agency, which is designed to ease the establishment of new foreign investment projects and promote the reform agenda within government. We caution though, that while the government remains favourable to FDI, there are risks from the judiciary, which has acted to stall reform legislation in the past. Indeed, in 2008 the Constitutional Court struck down a law that would have liberalised the sale of real estate to foreign firms. While we believe the law will eventually be amended to meet constitutional requirements, this incident highlights the ongoing risks the judiciary poses to improvements in foreign investment policy. TABLE: BMI TRADE RATINGS Protectionism Bureaucracy Albania Armenia Azerbaijan Belarus Bosnia and Herzegovina Bulgaria Croatia Cyprus 79.6 na Czech Republic Estonia FYR Macedonia Georgia Hungary Kazakhstan Kyrgyz Republic Latvia Lithuania Moldova Mongolia Poland Romania Russia Serbia Slovakia Slovenia Tajikistan Turkey Turkmenistan Ukraine Uzbekistan Global ave Region ave Source: BMI. Scores out of 100, with 100 representing the best score available for each indicator. 52
11 business environment Foreign Trade Regime Turkey became an associate member of the European Community in 1964, which it was able to shift to a full customs union agreement with the EU in While our core view is that Turkey will not become a full member of the EU until , for the time being, it still benefits substantially from full and open trade access to the EU market in most sectors. It should be noted though, that economic areas deemed as essential, including agriculture, are still covered by separate bilateral agreements. Turkey is also a member of the Euro-Mediterranean partnership, which consists of EU members and 12 states in the wider Mediterranean region. While the partnership has yet to push forward on any trade agreements of substance, there are hopes that it will translate into a wider free trade zone at some point in the future. Turkey maintains 21 free zones where there are no customs duties and any income generated is not subject to income or value added taxes. The zones generally do not target any individual industrial sector, with a wide range of economic activities ranging from banking, manufacturing and transport services taking place. Sales to the domestic market are allowed from the zones, while government standardisation regulations are not required for products designed solely for export. It should be noted that tax free status for income generated from the sale of goods manufactured in the zones is stipulated to be removed once the country becomes a member of the EU. As this is unlikely to happen for quite a while though, this should not be considered an immediate risk. Tax Regime The Turkish government has proactively worked to reduce and simplify the tax structure in recent years. Beginning in 2006, corporate income tax has been levied at a flat 20%, while capital gains are treated as income. Personal income tax is determined progressively, ranging from 15-35%, with the highest rate imposed on those with annual income greater than TRY44,701. There are three value-added tax rates an 18% standard rate and two lower rates of 8% and 1%. The lower 8% rate applies to basic foods, some entertainment services, books, private education and medical services. The 1% rate is applied to agriculture products, used cars, newspapers and some property. Goods exports and the supply of services are among the zero-rated items. Notably, Turkey has signed tax treaties with 61 countries at the time of print, all of which include provisions for the avoidance of double taxation. TABLE: TOP EXPORT DESTINATIONS GERMANY 5,180 5,367 5,869 7, ,455 9,684 11,994 UNITED KINGDOM 2,037 2,175 3,025 3, ,917 6,813 8,626 ITALY 1,789 2,342 2,376 3, ,617 6,752 7,479 FRANCE 1,657 1,895 2,135 2, ,806 4,604 5,975 RUSSIA ,172 1, ,377 3,238 4,727 Total exports 27,769 31,323 36,045 47,233 62,989 73,451 85, ,113 Top 5, % of total Source: IMF. N.B. Total exports are from Direction of Trade Statistics; consequently, there may be some discrepancy with data used elsewhere in this report. 53
12 turkey Q Operational Risk Security Risk Divisions between the majority ethnic-turkish and minority ethnic-kurds have been a long standing political problem, which continues to translate into acts of violence both against military and civilian targets. Indeed, the separatist ethnic-kurdish Kurdistan Worker s Party (PKK), officially labelled a terrorist group by the EU and US, has been involved in a low-level guerrilla war against the Turkish government for decades, with the vast majority of the fighting taking place in the south-eastern part of the country and across the Iraq border. Instability in the region has flared up toward the end of 2007 and into 2008, with cross border military raids by both the PKK and Turkish army becoming commonplace. Travel within the region at present comes with elevated personal security risks with the military declaring parts of the provinces of Sirnak, Hakkari and Slirt sensitive areas. While the vast majority of the conflict with Kurdish separatist guerrillas takes place in the remote south-east, acts of terrorism by the PKK have been known to occur within the major industrial centres in the western part of the country. On at least two occasions since 2007, police have reported capturing PKK terrorists in possession of explosives in Istanbul, while PKK attacks on civilian buses in Istanbul and the resort town of Kusadasi in resulted in the deaths of 11 people, including foreigners. Turkey has also been a target for international terrorist groups. In November 2003, al-qaeda took responsibility for a spate of bombings that targeted the UK consulate general, HSBC s corporate offices and synagogues in Istanbul resulting in the deaths of dozens of people. With the risks of global terror activity likely to remain elevated with the continuation of the conflicts in Iraq and Afghanistan, we caution that further acts of violence could take place in Turkey without any warning. 54
13
Stuck in Transition? STUCK IN TRANSITION? TRANSITION REPORT Jeromin Zettelmeyer Deputy Chief Economist. Turkey country visit 3-6 December 2013
TRANSITION REPORT 2013 www.tr.ebrd.com STUCK IN TRANSITION? Stuck in Transition? Turkey country visit 3-6 December 2013 Jeromin Zettelmeyer Deputy Chief Economist Piroska M. Nagy Director for Country Strategy
More informationThe Economies in Transition: The Recovery
Georgetown University From the SelectedWorks of Robert C. Shelburne October, 2011 The Economies in Transition: The Recovery Robert C. Shelburne, United Nations Economic Commission for Europe Available
More informationPolitical Outlook. c h a p t e r 1. SWOT Analysis. Strengths. Weaknesses. Opportunities
c h a p t e r 1 Political Outlook SWOT Analysis Strengths Government policy is underpinned by long-term EU accession goals suggesting medium-term policy-continuity oriented around political and economic
More informationThe Economies in Transition: The Recovery Project LINK, New York 2011 Robert C. Shelburne Economic Commission for Europe
The Economies in Transition: The Recovery Project LINK, New York 2011 Robert C. Shelburne Economic Commission for Europe EiT growth was similar or above developing countries pre-crisis, but significantly
More informationWILL CHINA S SLOWDOWN BRING HEADWINDS OR OPPORTUNITIES FOR EUROPE AND CENTRAL ASIA?
ECA Economic Update April 216 WILL CHINA S SLOWDOWN BRING HEADWINDS OR OPPORTUNITIES FOR EUROPE AND CENTRAL ASIA? Maurizio Bussolo Chief Economist Office and Asia Region April 29, 216 Bruegel, Brussels,
More informationSupplementary information for the article:
Supplementary information for the article: Happy moves? Assessing the link between life satisfaction and emigration intentions Artjoms Ivlevs Contents 1. Summary statistics of variables p. 2 2. Country
More informationCollective Bargaining in Europe
Collective Bargaining in Europe Collective bargaining and social dialogue in Europe Trade union strength and collective bargaining at national level Recent trends and particular situation in public sector
More informationANTI-CORRUPTION ACTION PLAN PREAMBLE 2
for Armenia, Azerbaijan, Georgia, the Russian Federation, Tajikistan and Ukraine 1 PREAMBLE 2 We, the Heads of Governmental Delegations from Armenia, Azerbaijan, Georgia, the Russian Federation, Tajikistan
More informationGender pay gap in public services: an initial report
Introduction This report 1 examines the gender pay gap, the difference between what men and women earn, in public services. Drawing on figures from both Eurostat, the statistical office of the European
More informationThe global and regional policy context: Implications for Cyprus
The global and regional policy context: Implications for Cyprus Dr Zsuzsanna Jakab WHO Regional Director for Europe Policy Dialogue on Health System and Public Health Reform in Cyprus: Health in the 21
More informationInfrastructure Connectivity from Transit Country Perspective. Noshrevan Lomtatidze. ტრანსპორტის Ministry of Foreign პოლიტიკის Affairs დეპარტამენტი
Infrastructure Connectivity from Transit Country Perspective Noshrevan Lomtatidze ტრანსპორტის Ministry of Foreign პოლიტიკის Affairs დეპარტამენტი of Georgia Geographic location of Georgia Population 3.7
More informationLMG Women in Business Law Awards - Europe - Firm Categories
LMG Women in Business Law Awards - Europe - Firm Categories Welcome to the Euromoney LMG Women in Business Law Awards submissions survey 1. Your details First Name Last Name Position Email Address Firm
More information2nd Ministerial Conference of the Prague Process Action Plan
English version 2nd Ministerial Conference of the Prague Process Action Plan 2012-2016 Introduction We, the Ministers responsible for migration and migration-related matters from Albania, Armenia, Austria,
More informationThe Madrid System. Overview and Trends. Mexico March 23-24, David Muls Senior Director Madrid Registry
The Madrid System Overview and Trends David Muls Senior Director Madrid Registry Mexico March 23-24, 2015 What is the Madrid System? A centralized filing and management procedure A one-stop shop for trademark
More informationBenchmarking SME performance in the Eastern Partner region: discussion of an analytical paper
Co-funded by the European Union POLICY SEMINAR EASTERN EUROPE AND SOUTH CAUCASUS INITIATIVE SUPPORTING SME COMPETITIVENESS IN THE EASTERN PARTNER COUNTRIES Benchmarking SME performance in the Eastern Partner
More informationBULGARIAN TRADE WITH EU IN JANUARY 2017 (PRELIMINARY DATA)
BULGARIAN TRADE WITH EU IN JANUARY 2017 (PRELIMINARY DATA) In January 2017 Bulgarian exports to the EU increased by 7.2% month of 2016 and amounted to 2 426.0 Million BGN (Annex, Table 1 and 2). Main trade
More informationRESTRICTED. COUNCIL Original: English/ 12 May 1993 French/ Spanish
GENERAL AGREEMENT ON TARIFFS AND TRADE RESTRICTED 10 May 1993 Limited Distribution COUNCIL Original: English/ 12 May 1993 French/ Spanish EUROPEAN COMMUNITIES - TRANSITIONAL MEASURES TO TAKE ACCOUNT OF
More informationBULGARIAN TRADE WITH EU IN THE PERIOD JANUARY - MARCH 2016 (PRELIMINARY DATA)
BULGARIAN TRADE WITH EU IN THE PERIOD JANUARY - MARCH 2016 (PRELIMINARY DATA) In the period January - March 2016 Bulgarian exports to the EU grew by 2.6% in comparison with the same 2015 and amounted to
More informationwiiw Workshop Connectivity in Central Asia Mobility and Labour Migration
wiiw Workshop Connectivity in Central Asia Mobility and Labour Migration Vienna 15-16 December 2016 Radim Zak Programme Manager, ICMPD Radim.Zak@icmpd.org The project is funded by the European Union What
More informationGlobal Harmonisation of Automotive Lighting Regulations
Transmitted by the expert from GTB Informal document GRE-68-10 (68th GRE, 16-18 October 2012) agenda item 19(a)) Global Harmonisation of Automotive Lighting Regulations This discussion document has been
More information9 th International Workshop Budapest
9 th International Workshop Budapest 2-5 October 2017 15 years of LANDNET-working: an Overview Frank van Holst, LANDNET Board / RVO.nl 9th International LANDNET Workshop - Budapest, 2-5 October 2017 Structure
More informationVISA POLICY OF THE REPUBLIC OF KAZAKHSTAN
VISA POLICY OF THE REPUBLIC OF KAZAKHSTAN Country Diplomatic Service National Term of visafree stay CIS countries 1 Azerbaijan visa-free visa-free visa-free 30 days 2 Kyrgyzstan visa-free visa-free visa-free
More informationEuropean Neighbourhood Policy
European Neighbourhood Policy Page 1 European Neighbourhood Policy Introduction The EU s expansion from 15 to 27 members has led to the development during the last five years of a new framework for closer
More informationTerms of Reference and accreditation requirements for membership in the Network of European National Healthy Cities Networks Phase VI ( )
WHO Network of European Healthy Cities Network Terms of Reference and accreditation requirements for membership in the Network of European National Healthy Cities Networks Phase VI (2014-2018) Network
More informationHealth systems responses to the economic crisis in Europe
Health systems responses to the economic crisis in Europe Gastein, October 3 rd 2012 Philipa Mladovsky Research Fellow London School of Economics LSE Health GDP growth and change in public spending on
More informationAnnex 1. Technical notes for the demographic and epidemiological profile
139 Annex 1. Technical notes for the demographic and epidemiological profile 140 The European health report 2012: charting the way to well-being Data sources and methods Data sources for this report include
More informationSEPT 6, Fall of USSR and Yugoslavia Get out notebook, ESPN highlighters, and pencil
SEPT 6, 2017 Fall of USSR and Yugoslavia Get out notebook, ESPN highlighters, and pencil EQ: How did the fall of communism lead to the turmoil in Yugoslavia in the 1990s? Problems of Soviet Union in 1980
More informationGlobal assessments. Fifth session of the OIC-STATCOM meeting May Claudia Junker. Eurostat. Eurostat
Global assessments Fifth session of the OIC-STATCOM meeting 12-13 May 2015 Claudia Junker 1 Content Background information Assessments/evaluations implemented Outside the EU Inside the EU Reasons for requesting
More informationA REBALANCING ACT IN EMERGING EUROPE AND CENTRAL ASIA. April 17, 2015 Spring Meetings
A REBALANCING ACT IN EMERGING EUROPE AND CENTRAL ASIA April 17, 2015 Spring Meetings A Rebalancing Act in Emerging Europe and Central Asia ECA is expected to be the slowest growing region worldwide with
More informationECONOMIC SURVEY OF EUROPE
Economic Commission for Europe Geneva ECONOMIC SURVEY OF EUROPE 2005 No. 2 Prepared by the SECRETARIAT OF THE ECONOMIC COMMISSION FOR EUROPE GENEVA UNITED NATIONS New York and Geneva, 2005 NOTE The present
More informationMark Allen. The Financial Crisis and Emerging Europe: What Happened and What s Next? Senior IMF Resident Representative for Central and Eastern Europe
The Financial Crisis and Emerging Europe: What Happened and What s Next? Seminar with Romanian Trade Unions Bucharest, November 2, 21 Mark Allen Senior IMF Resident Representative for Central and Eastern
More informationThe Boom-Bust in the EU New Member States: The Role of Fiscal Policy
The Boom-Bust in the EU New Member States: The Role of Fiscal Policy JVI Lecture, Vienna, January 21, 216 Bas B. Bakker Senior Regional Resident Representative for Central and Eastern Europe Outline The
More informationOverview of Demographic. Eastern Europe and the Former Soviet Union. Change and Migration in. Camille Nuamah (for Bryce Quillin)
Overview of Demographic Change and Migration in Eastern Europe and the Former Soviet Union Camille Nuamah (for Bryce Quillin) Albania World Bank Conference on Development Economics 10 June 2008 1 ECA Regional
More informationWHO Global Code of Practice on the International Recruitment of Health Personnel. Findings of the first round of reporting.
WHO Global Code of Practice on the International Recruitment of Health Personnel. Findings of the first round of reporting. Dr Galina Perfilieva WHO Regional Office for Europe Negotiations and adoption
More informationIndex for the comparison of the efficiency of 42 European judicial systems, with data taken from the World Bank and Cepej reports.
FB Index 2012 Index for the comparison of the efficiency of 42 European judicial systems, with data taken from the World Bank and Cepej reports. Introduction The points of reference internationally recognized
More informationGender in the South Caucasus: A Snapshot of Key Issues and Indicators 1
Public Disclosure Authorized Public Disclosure Authorized Gender in the South Caucasus: A Snapshot of Key Issues and Indicators 1 Armenia, Azerbaijan and Georgia have made progress in many gender-related
More information8193/11 GL/mkl 1 DG C I
COUNCIL OF THE EUROPEAN UNION Brussels, 25 March 2011 8193/11 AVIATION 70 INFORMATION NOTE From: European Commission To: Council Subject: State of play of ratification by Member States of the aviation
More informationPoverty and Shared Prosperity in Moldova: Progress and Prospects. June 16, 2016
Poverty and Shared Prosperity in Moldova: Progress and Prospects June 16, 2016 Overview Moldova experienced rapid economic growth, accompanied by significant progress in poverty reduction and shared prosperity.
More informationThe economic outlook for Europe and Central Asia, including the impact of China
ECA Economic Update April 216 The economic outlook for and, including the impact of China Hans Timmer Chief Economist and Region April 7, 216 Kiev, Ukraine 1 Overview Low growth is expected in and (ECA),
More informationa
Europe and Central Asia Recent developments GDP growth in the Europe and Central Asia region eased slightly, from 6.9 percent in to 6.7 percent in, reflecting a modest softening of both external and domestic
More informationThe National Police Immigration Service (NPIS) forcibly returned 429 persons in January 2018, and 137 of these were convicted offenders.
Monthly statistics January 2018: Forced returns from Norway The National Police Immigration Service (NPIS) forcibly returned 429 persons in January 2018, and 137 of these were convicted offenders. The
More informationComparative Economic Geography
Comparative Economic Geography 1 WORLD POPULATION gross world product (GWP) The GWP Global GDP In 2012: GWP totalled approximately US $83.12 trillion in terms of PPP while the per capita GWP was approx.
More informationTHE ENLARGEMENT OF THE UNION
THE ENLARGEMENT OF THE UNION On 1 July 2013, Croatia became the 28th Member State of the European Union. Croatia s accession, which followed that of Romania and Bulgaria on 1 January 2007, marked the sixth
More informationMigration Challenge or Opportunity? - Introduction. 15th Munich Economic Summit
Migration Challenge or Opportunity? - Introduction 15th Munich Economic Summit Clemens Fuest 30 June 2016 What do you think are the two most important issues facing the EU at the moment? 40 35 2014 2015
More informationBULGARIAN TRADE WITH EU IN THE PERIOD JANUARY - JUNE 2014 (PRELIMINARY DATA)
BULGARIAN TRADE WITH EU IN THE PERIOD JANUARY - JUNE 2014 (PRELIMINARY DATA) In the period January - June 2014 Bulgarian exports to the EU increased by 2.8% to the corresponding the year and amounted to
More informationThe Belarusian Hub for Illicit Tobacco
The Belarusian Hub for Illicit Tobacco Executive summary Authors: Francesco Calderoni Anna Brener Mariya Karayotova Martina Rotondi Mateja Zorč 1 Belarus and Russia are among the major suppliers of illicit
More information3-The effect of immigrants on the welfare state
3-The effect of immigrants on the welfare state Political issues: Even if in the long run migrants finance the pay as you go pension system, migrants may be very costly for the destination economy because
More informationThe effect of migration in the destination country:
The effect of migration in the destination country: This topic can be broken down into several issues: 1-the effect of immigrants on the aggregate economy 2-the effect of immigrants on the destination
More informationSession III Financial Markets Discussion
Six Years After EU Enlargement Austria and Its Eastern Neighbors Session III Financial Markets Discussion Claire Waysand, Assistant Director European Department International Monetary Fund *copyright rests
More informationBULGARIAN TRADE WITH EU IN THE PERIOD JANUARY - FEBRUARY 2017 (PRELIMINARY DATA)
BULGARIAN TRADE WITH EU IN THE PERIOD JANUARY - FEBRUARY 2017 (PRELIMINARY DATA) In the period January - February 2017 Bulgarian exports to the EU increased by 9.0% to the same 2016 and amounted to 4 957.2
More informationTHE EUROPEAN COURT OF HUMAN RIGHTS IN FACTS & FIGURES
THE EUROPEAN COURT OF HUMAN RIGHTS IN FACTS & FIGURES 2017 This document has been prepared by the Public Relations Unit of the Court, and does not bind the Court. It is intended to provide basic general
More informationInvestments and growth SEE and NIS
Joint Meeting of SEE and NIS TU Economic Experts Investments, austerity, labour market deregulation effects and inequalities Budva, Montenegro, 5 6 May 2016 Investments and growth SEE and NIS Bruno S.
More informationKEY MIGRATION DATA This map is for illustration purposes only. The boundaries and names shown and the designations used on this UZBEKISTAN
IOM Regional Office Vienna Regional Office for South-Eastern Europe, Eastern Europe and Central Asia Liaison Office for UN Agencies and other International Organizations based in Vienna International Organization
More informationSafety KPA. Regional Performance Framework Workshop, Baku, Azerbaijan, April ICAO European and North Atlantic Office. 9 April 2014 Page 1
Safety KPA Regional Performance Framework Workshop, Baku, Azerbaijan, 10-11 April 2014 ICAO European and North Atlantic Office 9 April 2014 Page 1 Safety (Doc 9854) Doc 9854 Appendix D Safety is the highest
More informationGroup of States against Corruption (GRECO) PROGRAMME OF ACTIVITIES 2019
Strasbourg, 7 December 2018 Greco(2018)13-fin Group of States against Corruption (GRECO) PROGRAMME OF ACTIVITIES 2019 Adopted by GRECO 81 (Strasbourg, 3-7 December 2018) GRECO Secretariat Council of Europe
More informationItaly Luxembourg Morocco Netherlands Norway Poland Portugal Romania
1. Label the following countries on the map: Albania Algeria Austria Belgium Bulgaria Czechoslovakia Denmark East Germany Finland France Great Britain Greece Hungary Iceland Ireland Italy Luxembourg Morocco
More informationImplementing agency of MIRAI Program : JTB Corporate Sales Inc. (BWT)
Implementing agency of MIRAI Program : JTB Corporate Sales Inc. (BWT) (hereafter, abbreviated as JTB) MIRAI Program Mutual-understanding, Intellectual Relations and Academic exchange Initiative 1.Program
More informationWhat factors have contributed to the significant differences in economic outcomes for former soviet states?
What factors have contributed to the significant differences in economic outcomes for former soviet states? Abstract The purpose of this research paper is to analyze different indicators of economic growth
More informationCEE Annual Compliance Update
CEE Annual Compliance Update Madina Torchinova Regional Compliance Officer CEE, Sandoz The Sixth International Pharmaceutical Compliance Congress and Best Practices Forum Budapest, May 14-16, 2012 a Novartis
More informationHAS GROWTH PEAKED? 2018 growth forecasts revised upwards as broad-based recovery continues
HAS GROWTH PEAKED? 2018 growth forecasts revised upwards as broad-based recovery continues Regional Economic Prospects May 2018 Stronger growth momentum: Growth in Q3 2017 was the strongest since Q3 2011
More informationInternational Goods Returns Service
International Goods Returns Service Customer User Guide and Rate card v2.4 24 th August 2012 Service Overview An international reply-paid goods returns service available across 28 countries It offers end
More informationMeasuring Social Inclusion
Measuring Social Inclusion Measuring Social Inclusion Social inclusion is a complex and multidimensional concept that cannot be measured directly. To represent the state of social inclusion in European
More informationFrom Europe to the Euro
From Europe to the Euro 2012 Euro Challenge Student Orientation Florida International University December 6 th, 2011 Kasper Zeuthen Delegation of the European Union Washington, DC www.euro-challenge.org
More informationMaritime Transport. Intergovernmental Bilateral Agreements. Date of Signature. N Country Agreement (Title)
Maritime Transport Intergovernmental Bilateral Agreements N Country Agreement (Title) 1 Republic of Turkey 2 Ukraine People's Republic of China 3 4 Russian Federation 5 Republic of Bulgaria 6 Republic
More information2016 Europe Travel Trends Report
2016 Europe Travel Trends Report One-third of worldwide travellers report1 they ll spend more on travel in 2016 than the year previous. Of those big spenders, Europeans dominate the list, with Switzerland,
More informationTrade implications of EU enlargement: Facts and Figures
MEMO/04/23 Brussels, 4 February 2004 Trade implications of EU enlargement: Facts and Figures Key Figures (2002) EU 15 EU 25 Population million (% of world) 379 (6.1%) 455 (7.3%) GDP billion (% of world)
More informationEuropean Agreement. Volume I. applicable as from 1 January Concerning the International Carriage of Dangerous Goods by Road
ECE/TRANS/202 (Vol. I) Economic Commission for Europe Committee on Inland Transport applicable as from 1 January 2009 European Agreement Concerning the International Carriage of Dangerous Goods by Road
More information2018 BAVARIA S ECONOMY FACTS AND FIGURES
Bavarian Ministry of Economic Affairs, Energy and Technology 2018 BAVARIA S ECONOMY FACTS AND FIGURES wwwstmwibayernde As of August 2018 Area Population (3006) 1) females males age 0-14 (3112) 15-64 65+
More informationFrom Europe to the Euro. Delegation of the European Union to the United States
From Europe to the Euro Delegation of the European Union to the United States www.euro-challenge.org What is the European Union? A unique institution Member States voluntarily cede national sovereignty
More informationENC Academic Council, Partnerships and Organizational Guidelines
ENC Academic Council, Partnerships and Organizational Guidelines The following document outlines the exact organisational structure and membership obligations, guidelines and decision-making rights of
More informationInternational Trade Union Confederation Pan-European Regional Council (PERC) CONSTITUTION (as amended by 3 rd PERC General Assembly, 15 December 2015)
1 International Trade Union Confederation Pan-European Regional Council (PERC) CONSTITUTION (as amended by 3 rd PERC General Assembly, 15 December 2015) I. Principles, aims and objectives. A Pan-European
More informationThe National Police Immigration Service (NPIS) forcibly returned 375 persons in March 2018, and 136 of these were convicted offenders.
Statistics March 2018: Forced returns from Norway The National Police Immigration Service (NPIS) forcibly returned 375 persons in March 2018, and 136 of these were convicted offenders. The NPIS is responsible
More informationThe application of quotas in EU Member States as a measure for managing labour migration from third countries
The application of quotas in EU Member States as a measure for managing labour migration from third countries 1. INTRODUCTION This EMN Inform 1 provides information on the use of quotas 2 by Member States
More informationThe EU on the move: A Japanese view
The EU on the move: A Japanese view H.E. Mr. Kazuo KODAMA Ambassador of Japan to the EU Brussels, 06 February 2018 I. The Japan-EU EPA Table of Contents 1. World GDP by Country (2016) 2. Share of Japan
More informationWorkshop Animal Welfare in Europe: achievements and future prospects. Dr Olga Zorko,, DG Enlargement, Taiex
Workshop Animal Welfare in Europe: achievements and future prospects Dr Olga Zorko,,, Taiex EUROPEAN COMMISSION - D4 Institution Building unit-taiex (Technical Assistance Information Exchange Instrument)
More informationThe political economy of electricity market liberalization: a cross-country approach
The political economy of electricity market liberalization: a cross-country approach Erkan Erdogdu PhD Candidate The 30 th USAEE/IAEE North American Conference California Room, Capital Hilton Hotel, Washington
More informationReport Launch December 9, 2011 ODI, London
Report Launch December 9, 2011 ODI, London Outline Rationale Concepts and assumptions Reform strategies Information interventions Grievance redress Looking ahead 2 Rationale: Why focus on accountability?
More informationwiiw releases 2018 Handbook of Statistics covering 22 CESEE economies
Wiener Institut für Internationale Wirtschaftsvergleiche The Vienna Institute for International Economic Studies PRESS RELEASE 21 January 2019 wiiw releases 2018 Handbook of Statistics covering 22 CESEE
More informationThe Impact of the Global Economic Crisis on Central and Eastern Europe. Mark Allen
The Impact of the Global Economic Crisis on Central and Eastern Europe Fourth Central European CEMS Conference Warsaw, February 25, 211 Mark Allen Senior IMF Resident Representative for Central and Eastern
More informationFrom Europe to the Euro Student Orientations 2014 Euro Challenge
From Europe to the Euro Student Orientations 2014 Euro Challenge www.euro-challenge.org 1 What is the European Union? A unique institution Member States voluntarily cede national sovereignty in many areas
More informationTranslation from Norwegian
Statistics for May 2018 Forced returns from Norway The National Police Immigration Service (NPIS) forcibly returned 402 persons in May 2018, and 156 of these were convicted offenders. The NPIS is responsible
More informationAlbania: Country of Opportunities
Albania: Country of Opportunities Four reasons to invest in Albania A Export-oriented B Competitive C Promising D Comprehensive Growth Human Capital Sectoral Opportunities Structural Reforms A Export-oriented
More informationEurope. Eastern Europe South-Eastern Europe Central Europe and the Baltic States Western Europe
Eastern Europe South-Eastern Europe Central Europe and the Baltic States Western Europe Working environment UNHCR s operations in Europe, covering 48 countries, respond to a wide variety of challenges
More informationChallenges for Baltics as for the Eurozone countries having Advanced Economy status
Challenges for Baltics as for the Eurozone countries having Advanced Economy status 4th European High-level Panel Discussion on Banking Vilnius, February 4, 216 Bas B. Bakker Senior Regional Resident Representative
More informationStimulating Investment in the Western Balkans. Ellen Goldstein World Bank Country Director for Southeast Europe
Stimulating Investment in the Western Balkans Ellen Goldstein World Bank Country Director for Southeast Europe February 24, 2014 Key Messages Location, human capital and labor costs make investing in the
More informationTECHNICAL BRIEF August 2013
TECHNICAL BRIEF August 2013 GENDER EQUALITY IN TRIPARTITE SOCIAL DIALOGUE IN EUROPE AND CENTRAL ASIA Angelika Muller and Sarah Doyle 1 GOVERNANCE Tripartite social dialogue and gender equality are both
More informationEuropean Parliament Eurobarometer (EB79.5) ONE YEAR TO GO TO THE 2014 EUROPEAN ELECTIONS Economic and social part DETAILED ANALYSIS
Directorate-General for Communication Public Opinion Monitoring Unit Brussels, 18 October 2013 European Parliament Eurobarometer (EB79.5) ONE YEAR TO GO TO THE 2014 EUROPEAN ELECTIONS Economic and social
More informationTURKISH CONTRACTING IN THE INTERNATIONAL MARKET
Brief overview TURKISH CONTRACTING IN THE INTERNATIONAL MARKET Construction plays a crucial role in Turkey s economic development, accounting for nearly 8-9% of GDP and employing almost 2 million people.
More informationUNIDEM CAMPUS FOR THE SOUTHERN MEDITERRANEAN COUNTRIES
UNIDEM CAMPUS FOR THE SOUTHERN MEDITERRANEAN COUNTRIES Venice Commission of Council of Europe STRENGTHENING THE LEGAL CAPACITIES OF THE CIVIL SERVICE IN THE SOUTHERN MEDITERRANEAN COUNTRIES Administrations
More informationIs the transition countries reliance on foreign capital a sign of success or failure?
Is the transition countries reliance on foreign capital a sign of success or failure? Christoph Rosenberg IMF Regional Office for Central Europe and the Baltics UNECE FfD Regional Consultation Expert Meeting
More informationWhat is the OSCE? Organization for Security and Co-operation in Europe
What is the OSCE? Organization for Security and Co-operation in Europe Who are we? The OSCE s work on the ground enables the Organization to tackle crises as they arise. The OSCE has deployed hundreds
More informationThe NPIS is responsible for forcibly returning those who are not entitled to stay in Norway.
Monthly statistics December 2014: Forced returns from Norway The National Police Immigration Service (NPIS) forcibly returned 532 persons in December 2014. 201 of these returnees had a criminal conviction
More informationBalkans: Italy retains a competitive advantage
The events of the 1990s left very deep traces, but since 2000 Western Balkans economies showed a positive turnaround, experiencing a process of rapid integration into world trade. The Balkans: Italy retains
More informationCLOUDY OUTLOOK FOR GROWTH IN EMERGING EUROPE AND CENTRAL ASIA
CLOUDY OUTLOOK FOR GROWTH IN EMERGING EUROPE AND CENTRAL ASIA Presentation by Laura Tuck, Vice President, ECA Hans Timmer, Chief Economist, ECA October 8, 2014 Annual Meetings Three key trends for Emerging
More informationEuCham Charts. October Youth unemployment rates in Europe. Rank Country Unemployment rate (%)
EuCham Charts October 2015 Youth unemployment rates in Europe Rank Country Unemployment rate (%) 1 Netherlands 5.0 2 Norway 5.5 3 Denmark 5.8 3 Iceland 5.8 4 Luxembourg 6.3... 34 Moldova 30.9 Youth unemployment
More informationFrom Europe to the Euro
From Europe to the Euro Presentation ti by Eva Horelová Deputy Spokesperson, Deputy Head of Press and Public Diplomacy Delegation of the European Union to the United States Florida Student Orientation,
More informationLithuania. Poland. Belarus. Georgia. Azerbaijan. Macedonia
Lithuania Poland Belarus Georgia Azerbaijan Macedonia 14 The development challenge in the Central and Eastern European region remains one of transforming previously authoritarian, centrally planned societies
More informationALBANIA. Overview of Regulatory and Procedural reforms to alleviate barriers to trade
ALBANIA Overview of Regulatory and Procedural reforms to alleviate barriers to trade 1. Introduction Since the accession of Albania in WTO the trade policy has been inspired by the WTO guiding principles
More informationThe Outlook for Migration to the UK
European Union: MW 384 Summary 1. This paper looks ahead for the next twenty years in the event that the UK votes to remain within the EU. It assesses that net migration would be likely to remain very
More informationOECD-Hungary Regional Centre for Competition. Annual Activity Report 2005
OECD-Hungary Regional Centre for Competition Annual Activity Report 2005 I. Introduction and organisational setup The OECD-Hungary Regional Centre for Competition (RCC) was established by the Organisation
More information