A new business centre in Istanbul will aim to boost British business from a city that offers potential opportunities in eastern Europe, the Middle East and Central Asia and the Caucasus.
The new centre, launched 20 August 2014 by HSBC and the British Chamber of Commerce in Turkey “will support UK and Turkish business links and operations , and help British businesses who wish to start operating in Turkey,” HSBC said.
Both sides need each other to advance business and to dispel gloom over slow recovery (in Britain) and a clouding outlook for Turkey’s financial sector, after Fitch ratings agency issued a warning this week about major Turkish banks.
A strategic partnership agreement between HSBC and the British Chamber of Commerce in Turkey, one of the oldest existing chambers in the region, will enable the new centre to provide consultancy services to UK companies that operate in or want to enter the Turkish market.
An opening ceremony 20 August 2014 was attended by Chris Gaunt, chairman of the British Chamber of Commerce in Turkey, Martin Spurling, group general manager & CEO, HSBC Turkey, and Rafe Courage, deputy Consul-General and Head of the Economic & Prosperity Team at the British Consulate-General in Turkey.
Gaunt said the centre will “add value” British business activities in the country.
Spurling said Turkey is one of 21 priority markets for HSBC investment globally. “This project is part of a global initiative between HSBC and UK Trade and Investment that has already been implemented in Poland and China, so we are confident that our efforts to help the Turkish economy prosper through this initiative will prove successful,’’ Spurling said.
Courage welcomed the centre as “an important further step in the development of the services offered to UK-based companies that either want to research the Turkish market, increase their existing exports to Turkey, or develop a permanent presence in the country.”
The British Chamber of Commerce in Turkey was founded in Istanbul in 1887 — before post-Ottoman Turkey became a republic in 1923. HSBC operates more than 6,300 offices in 75 countries and reported assets of US$ 2,758 billion at 31 March 2014.