Turkey’s DP World Yarimca to become World’s Top Terminal
DP World, a leading enabler of global trade and an integral part of the supply chain, held an inauguration ceremony in Yarimca, Kocaeli to mark the commissioning of its USD 650 million greenfield container terminal. The new facility, with a handling capacity of 1.3 million TEU, features remote-controlled and automated operations. It also represents the first infrastructure project in Izmit Bay to be run by an international operator.
Turkish President Recep Tayyip Erdoğan joined via video conference the inauguration ceremony at which were present Prime Minister Binali Yıldırım; Minister of Foreign Affairs Mevlüt Çavuşoğlu; and ISPAT President Arda Ermut. Commenting on the new terminal, Erdoğan said, “DP World Yarimca will reduce costs and increase the competitiveness of industrial and trading companies located in our region.”
Speaking at the ceremony, Binali Yıldırım extended his gratitude to Chairman of DP World Group, Sultan Ahmed bin Sulayem, and CEO of DP World Yarimca, Nichola Silveira, for their confidence in Turkey’s business environment. Yıldırım said, “Turkey’s geostrategic position enables access to a market of 1.5 billion people and a combined GDP of USD 30 trillion within a 3-hour flight from Istanbul. Turkey is one of the most important business hubs at a time when the world’s economic center of gravity continues to shift to East. That’s why we are building the world’s largest airport in Istanbul and 4th largest suspension bridge on Izmit Bay. DP World Yarimca will also be a milestone in this journey.”
ISPAT President Arda Ermut said, “Since ISPAT gave support to DP World’s Yarimca project from the very beginning, today we are taking justified pride in accomplishing such an important and innovative investment for our country. I believe that this investment will not only contribute to Turkey’s exports and its logistic capacity, but also give a new impulse to the Turkish economy and usher in a new vision for the logistics sector in Turkey and the region.”
Assisted by ISPAT at every stage of the investment process by coordinating more than 20 stakeholders, DP World Yarimca Terminal will employ 650 people to reach a handling capacity of 1.3 million TEU, which is currently more than 10 percent of Turkey’s total capacity. The terminal is the first in Turkey to use remote-controlled gantry cranes with automated gate operations and fast scanner x-ray machines that can scan two containers every minute.
India-Turkey Relations Highlight:
Bilateral relations have been strengthened by the exchange of visits of leaders of both countries in recent times. These include visits by the Turkish PM Recep Tayyip Erdogan to India in 2008 and Turkish President Abdullah Gul to India in 2010.
Five inter-governmental agreements were signed during the visit, along with six agreements in the education sector viz., MoU between NSIC and Small and Medium Enterprises Development Organization (KOSGEB); Protocol between All India Radio & Turkish Radio & TV Corporation (TRT); Protocol between Department of Science & Technology (DST) & Scientific & Technological Research Council of Turkey (TUBITAK); Protocol between Doordarshan & TRT; Protocol in the field of Archives between Govt. of India & Govt. of Turkey.
The Bilateral Trade Agreement between India and Turkey was signed in 1973. This was followed by an Agreement on setting up an India–Turkey Joint Commission on Economic and Technical Cooperation (JCETC) in 1983. Under this Agreement, JCETC meetings are held alternately in India and Turkey. The India-Turkey Joint Business Council (JBC) between Federation of Indian Chambers of Commerce and Industry (FICCI) and Foreign Economic Relations Board of Turkey (DEIK) was set up in 1996. The 10th session of the JC ETC was held in New Delhi in January, 2014.
Now, with such background, development of DP World Yarimca, is considered to be an opportunity for Indian businesses and economic ties between the two nations.