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Hurriyet Daily News, Turkey
Dec 30 2011
`Genocide' bill may discourage investors
Gökhan Kurtaran - ISTANBUL
A possible boycott of French firms might slow down investments, says
Yves Marie Laouenan.
A possible Turkish boycott of French products and companies would not
only harm bilateral trade relations but also possibly discourage new
French investment in Turkey, a top executive of the Turkish French
Trade Association (CCIFT) said yesterday.
`We should bear in mind a possible boycott of French products and
firms in Turkey might also slow down investments from France, the
second biggest foreign direct investor in Turkey,' said Yves Marie
Laouenan, vice president of the CCIFT.
With tensions heating due to the French Parliament's decision last
week to penalize any denial of the 1915 events as genocide, `trade and
business relations established over many years should be taken care
of,' he told the Daily News.
France ranks the fifth biggest European direct investor in Turkey with
$10.3 billion worth of investments between 2000 and 2010, following
the Netherlands, Germany, the United Kingdom and Luxembourg,
respectively, according to data from Turkey's Central Bank.
French investments in the country were only $1.6 billion in 2000. Even
in the midst of the European economic crisis, Turkey managed to
attract $816 million in the first half of this year, the data showed.
`We do not want to be involved in politics, we want to trade and
enhance economic relations between both countries,' said Laouenan,
noting that the French Senate rejected a similar genocide bill in the
past.
Laouenan said Hrant Dink, a Turkish-Armenian journalist assassinated
in 2007, was among the pioneers who put his signature to a letter
urging French politicians to withdraw from passing such a bill in
2006. `A similar petition will soon be launched and presented to
French senators,' Laouenan said.
`Nearly 100,000 Turkish people work in French firms in Turkey,' said
Zeynep NecipoÄ?lu, the head of the association calling on both sides to
calm down and care more about economic relations between the
countries. Currently, more than 300 French firms operate in Turkey,
including Schneider, Areva, St Gobain, Lafarge, Danone, L'Oreal,
Carrefour, Total, BNP Paribas, AXA, Groupama and Dexia.
`The bill has not been accepted by the French Senate and we will
continue to express the sensitivity of the issue to French senators,'
NecipoÄ?lu said.
Last week, Turkish EU Minister Egemen BaÄ?ıÅ? warned that `Turks decide
on their own,' implying citizens might boycott French goods as they
did before against Italy. However, any attempt to boycott trade with
France would fail to achieve results, Ã`mit Boyner, head of Turkish
Industry & Business Organization (TÃ`SÄ°AD), said in an interview with
the Daily News Dec. 28 following the minister's comments.
December/30/2011
Dec 30 2011
`Genocide' bill may discourage investors
Gökhan Kurtaran - ISTANBUL
A possible boycott of French firms might slow down investments, says
Yves Marie Laouenan.
A possible Turkish boycott of French products and companies would not
only harm bilateral trade relations but also possibly discourage new
French investment in Turkey, a top executive of the Turkish French
Trade Association (CCIFT) said yesterday.
`We should bear in mind a possible boycott of French products and
firms in Turkey might also slow down investments from France, the
second biggest foreign direct investor in Turkey,' said Yves Marie
Laouenan, vice president of the CCIFT.
With tensions heating due to the French Parliament's decision last
week to penalize any denial of the 1915 events as genocide, `trade and
business relations established over many years should be taken care
of,' he told the Daily News.
France ranks the fifth biggest European direct investor in Turkey with
$10.3 billion worth of investments between 2000 and 2010, following
the Netherlands, Germany, the United Kingdom and Luxembourg,
respectively, according to data from Turkey's Central Bank.
French investments in the country were only $1.6 billion in 2000. Even
in the midst of the European economic crisis, Turkey managed to
attract $816 million in the first half of this year, the data showed.
`We do not want to be involved in politics, we want to trade and
enhance economic relations between both countries,' said Laouenan,
noting that the French Senate rejected a similar genocide bill in the
past.
Laouenan said Hrant Dink, a Turkish-Armenian journalist assassinated
in 2007, was among the pioneers who put his signature to a letter
urging French politicians to withdraw from passing such a bill in
2006. `A similar petition will soon be launched and presented to
French senators,' Laouenan said.
`Nearly 100,000 Turkish people work in French firms in Turkey,' said
Zeynep NecipoÄ?lu, the head of the association calling on both sides to
calm down and care more about economic relations between the
countries. Currently, more than 300 French firms operate in Turkey,
including Schneider, Areva, St Gobain, Lafarge, Danone, L'Oreal,
Carrefour, Total, BNP Paribas, AXA, Groupama and Dexia.
`The bill has not been accepted by the French Senate and we will
continue to express the sensitivity of the issue to French senators,'
NecipoÄ?lu said.
Last week, Turkish EU Minister Egemen BaÄ?ıÅ? warned that `Turks decide
on their own,' implying citizens might boycott French goods as they
did before against Italy. However, any attempt to boycott trade with
France would fail to achieve results, Ã`mit Boyner, head of Turkish
Industry & Business Organization (TÃ`SÄ°AD), said in an interview with
the Daily News Dec. 28 following the minister's comments.
December/30/2011