In
a briefing we held with a former Turkish ambassador in
the U.N., he noted that global corporations generally
like to point to the strong economic growth of markets
like Brazil, China, India and Russia. But he added that
they often neglect to mention the stellar performance
of the Turkish economy. Growing at an average rate of
7% from 2000 to 2007, then dropping to the smaller rate
of +4.7% in 2009, before jumping 10.3% in the first quarter
of 2010, Turkey is the envy of the sluggish Europe, yet
that country’s growth is no coincidence or a miracle.
Turkey’s political and business leaders have been
busy structuring their economy so as to enable the type
of growth they are seeking. Not only this meant methodical
work on the legislative front to simplify the country’s
business environment, but also conquering new markets
abroad to stimulate exports and increase trade, two important
engines of economic development. Continue
here.
While
we are witnessing the rise of China, Turkey, Spain and
others nations in trading with the Maghreb, France still
remains the Maghreb’s biggest economic partner and
a major source of foreign investment. Although it is true
that France is facing competition from new players, its
economic links with the region were valued at more than
€27.4 billion in trade in 2008, a figure that would
be impossible to match by other partners. Interestingly,
France generally thrives with a surplus that makes its
economic relations with its former colonies favorable
and quiet enviable. But with oil imports from Algeria
and Libya, France generally manages to build trade deficits,
in particular with Libya where it continues to learn how
to do business there. Continue
here.
Industries
and Markets:
Africa
Infrastructure in Need of Billions to Catch Up
Just
like in other countries before, the FIFA World Cup provided
South Africa with the opportunity to invest not only on
sports facilities but on all other accompanying infrastructure
that are needed to run such a global sporting event. Some
$1.2 billion were spent to build or upgrade stadiums,
expand roads, build new railways, among other key projects
with lasting impacts on the country’s economic profile.
Some 41% of the $1.2 billion went to improve roads and
rail infrastructure. The outcome is that the airport of
Johannesburg can handle 28 million passengers per year.
A high-speed rail service now links the administrative
capital of Pretoria to the business capital of Johannesburg.
The country’s hotel capacity also expanded, with
Johannesburg alone seeing 30 new hotels built as a result
of the mega sport event. These investments have had a
direct impact on job creation, with an estimated 160,000
jobs established as a result. More importantly, South
Africa recouped its investment since the big game generated
$2 billion in revenue.
Continue
here.
In this series of podcasts, North Africa
Journal Editor Arezki Daoud and Deputy Editor Alessandro
Bruno assess 2010's big events that have affected North
Africa and surrounding regions. In this first podcast
installment, we discuss without any preset format, script
or preparation the Libyan case. Questions around Libya’s
position on African and European issues as well as the
succession and what’s ahead are some of the topics
we talk about in the first audio file. In the second,
we discuss the broad security aspects in the region, essentially
in the Sahel and West Africa, with comments on what’s
happening elsewhere. The third installment is about Europe
and its stance vis-a-vis the Maghreb as well as final
closing remarks on Maghreb economies.
Thank you for listening and please make
sure to send us your thoughts by emailing
your views through this feedback system.
And
more. Download full report here
