Opening new windows for economic freedom

AMERICAN F-16 Fighter Planes are built in Turkey? Hardly anyone notice that until trade relations between the Philippines and Turkey started in 2009. Turkey is the only site outside of the American territory that built this type of powerful air armaments for the US military and its NATO allies.

A bustling free market economy with a Gross Domestic Product of USD 1.44 Trillion in 2011, Turkey has a GDP per capita income of USD 11,600 and a growth rate of 8.9%. It is the 16th largest economy in the world and number 6 in Europe. It has a young population of 72.6 Million.

Turkish businessmen came for the second straight year in Cagayan de Oro City last May 11. With worldwide standing as number one for wheat flour exports, cement, dried apricots, hazelnuts and organic textiles. Turkey likewise, produces boron, the additive compound to gasoline that makes racing cars run faster. The Turkish trade delegation representing all scales of companies in the Turkish economy was surprisingly young averaging 29 years old. These could be part of their 24.7 million young and trained professionals coming from an average of 400,000 graduates annually from 143 universities run by Americans and Europeans professors. The visit was a good opportunity to establish trade relations and investments in Northern Mindanao.

Many Filipinos impressions about Turkey are what they see in Fashion TV and in the spy and adventure movies chronicled by the James Bond and Bourn Legacy saga which regularly features Istanbul. The old city built by the Ottoman Empire has a rich culture whose Islamic religion was spread to Europe. Istanbul is a must city to visit specially the Sultan Ahmet Mosque and the Hagia Sophia Mosque in the center of the city. It is a tourist destination and the center of educational institutions in Turkey. I have not been there but my knowledge and pigment of imagination about the city was taught by Agent 007. There must be some truth and relevance to my descriptions?

Ankara is the capital of Turkey and sits as the regional and global distribution center of many companies and headquarters of many international chains of hotels serving the 25 Million tourist arrivals per annum. It is a potential market, if not for the distance, to shift our banana exports now rotting in the Chinese Ports, a victim of a political row over disputed territories.

With the tremendous growth of the Turkish economy, ranking 3rd after China and India, the Philippines which has vast economic zones and supportive governance can find opportunities for outsourcing many of their manufacturing activities with our cheap labor which has a low operational cost and higher work standards compared to their neighboring Middle East countries. The Philippine’s PHIVEDIC industrial zone could be a good site for manufacturing Turkish RTW fabrics for exports to the US and Asia which is still dominated by low quality Chinese fabric products?

Business implicates changes in the human society. The trade transactions between countries of many ideologies and religions come together for freedom and prosperity. Turkey which has 99% Muslim population, the remaining is Jews and Greek Orthodox, sets well for a good relations with the people of Mindanao.
For more economic freedom, Northern Mindanao businessmen have these new windows to work closely with the Turkish Chamber of Commerce of the Philippines which is in existence since 2009. It is represented in Cagayan de Oro by Monde Best International Corporation located along Unit No. 17, Goking Building, Corrales Avenue, Cagayan de Oro City.

Ped T. Quiamjot is one of the brilliant columnists of a local newspaper in Cagayan de Oro City and currently the General Manager of Pryce Plaza Hotel Cagayan de Oro. His column talks on various issues and concerns affecting the business sector and tourism industry.