By Prem Kumar

Coronavirus pandemic has been devastating for every sector of the economy, and tourism is among the most affected sectors. Besides COVID-19 caused demand shock, the tourism sector has been hit hardest due to the nation-wide lockdown clamped to prevent spread the pandemics. The tourism industry is in a coma, airlines are grounded, railway services suspended, hotels empty, buses out of the road, destinations deserted for visits; the scenario is quite gloomy for this labour-intensive sector.

Within the large space of travel and tourism, it is micro, small and medium-sized enterprises (MSMEs) such as travel agents, tour operators, MICE planners and organisers, DMCs, TMCs, restaurants and tourist transporters are among the segments hit the hardest. All these companies have very important roles in managing, operating, and facilitating tourism. These companies work as coordinating agents between customers and suppliers. These companies were already stressed but the COVID-19 global pandemic has been catastrophic for them, most of these MSMEs are struggling to remain in business as no new business, bookings are coming and their cash flows are choked, they don’t have a war-chest to sustain their operations in the absence of cash flow. If MSMEs form the backbone of the economy, MSMEs of the tourism industry is the backbone of this service sector.
In India, across the sectors, there are about 51 million MSMEs operating in manufacturing, services and supply chain sectors.

According to the figures provided by the Federation of Associations in Indian Travel & Hospitality (FAITH), there are 53,000 travel agents, 1,15,000 tour operators (inbound, domestic, outbound), 15,000 adventure tour operators, 2700 MICE organisers, 19,11,000 tourist transporters, 53,000 hospitality and 5 lakh restaurants, all of them are currently facing the heat due to lack of cash flows. COVID-19 Pandemic has jeopardized India’s once hailed 5 lakh crores tourism industry and employment of an estimated 3.8 crore jobs. But now many of them are on the verge of collapse as they were unable to pay to meet their operating costs such as salaries, rents and interests. The immediate challenge before them is to survive this critical time.

There are already talks of the government offering package to MSMEs sectors. Similar financial package must be also offered to MSMEs working in the tourism sector, affected due to the coronavirus lockdown, and the demand shock.

MSMEs in tourism sector employs a huge number of people; therefore, they should not be allowed to get out of the business. They should immediately be offered easy access to credit. Besides financial packages, the government should pledge marketing assistance to these companies to regain market access post-COVID period. During this lockdown, entrepreneurship skills of people running these firms should be improved; professionals employed in these organisations should be engaged proactively, offered additional professional and marketing skills to empower them for the new travel & tourism world post-COVID pandemic. They should be encouraged to adopt more and more technology to reduce their costs and offer better services. Such measures will help boost these companies to gain confidence and resilience. In the good time, MSMEs can emerge a game-changer for tourism if rescued and empowered today. At this critical time, their fate can’t be left to be decided by the vagaries of nature.

Their survival is critical not only for the travel and tourism sector but for the whole economy and society.

The post COVID-19 Crisis: Save tourism MSMEs to save tourism, millions of jobs appeared first on TnHGlobal.

Over recent years, as the United Nations specialized agency for tourism, UNWTO has been regularly monitoring travel facilitation and observing a continuous trend towards more openness. COVID-19 has dramatically interrupted this. According to research carried out for the new report, as of 6 April, 96% of all worldwide destinations have introduced travel restrictions in response to the pandemic. Around 90 destinations have completely or partially closed their borders to tourists, while a further 44 are closed to certain tourists depending on country of origin.

Effect on Lives and Livelihoods

UNWTO Secretary-General Zurab Pololikashvili said: “COVID-19 has impacted travel and tourism like no other event before in history. Governments have put public health first and introduced full or partial restrictions on travel. With tourism suspended, the benefits the sector brings are under threat: millions of jobs could be lost, and progress made in the fields of equality and sustainable economic growth could be rolled back. UNWTO, therefore, calls on governments to continuously review travel restrictions and ease or lift them as soon as it is safe to do so.”

The UNWTO global review shows that the global regions are largely consistent in their response to COVID-19. In Africa, Asia and the Pacific and the Middle East, 100% of destinations have adopted COVID-19-related restrictions since January 2020. In the Americas, 92% of destinations have taken similar steps, while in Europe, the proportion is 93% (as of 6 April).

Level of Response Evolving

More specifically, the analysis identifies four key types of restrictive measures, namely:

1. Complete or partial closure of borders to tourists;
2. Destination-specific travel restrictions (“Passengers who have transited or been in x are not allowed to enter x”);
3. The total or partial suspension of flights;
4. Different measures, including requirements for quarantine or self-isolation, medical certificates, invalidation or suspension of visa issuances etc.

Timely and Responsible Recovery

In many instances, destinations have already adjusted their restrictive measures as the situation has evolved. UNWTO will continue to regularly track and analyse the evolution of travel restrictions, in an effort to effectively support the responsible but also timely recovery of the tourism sector.

The post COVID-19 IMPACT: 96% OF GLOBAL DESTINATIONS OUT OF BOUNDS appeared first on TnHGlobal.

 The winter in India is traditionally regarded as the peak season for the country’s Inbound tourism. For foreign nationals, the season is the best time to visit the country as the weather in most places is pretty cool and pleasant. With the onset of the winter season, the country’s travel and hospitality industry is all set to welcome the expected seasonal influx of foreign visitors. Some are also betting on the certain recent steps by the government such as a cut in GST rate for hotels and visa liberalization to give a fillip to tourist arrivals in India. But there are challenges, the biggest one probably is the state of the global economy, which is witnessing a slowdown, then is the conundrum of the Brexit affecting businesses from the UK,  therefore, not everyone is upbeat about the inbound season.

As the Inbound tourism sets in, TnH spoke to experts and entrepreneurs in the travel and tourism to know their expectations from the season and gauge the impact of the government’s recent steps to promote tourism.  At the outset, we spoke to SN Srivastava, President & Co-Founder of Clarks Inn Group of Hotels. Recounting the tourism story of the last decade, Srivastava said, “The last financial crisis over a decade ago had put a stop to the great juggernaut India tourism had witnessed during 2003-2007 period in inbound arrivals. With a state of recession already looming large, I don’t see the inbound season to be much promising.”

Anil Kumar Prasanna, CEO of AxisRooms also shares a similar sentiment. “Things are not quite well at present for inbound tourism, most of the chartered tour companies are not doing well. The collapse of Thomas Cook UK is also affecting our business from the UK. The recent measure to encourage tourists from China and easing visa norms for Chinese travellers is a good counter-strategy but we still need to see how much this measure would boost the inbound arrivals. The addition of the new overseas routes by airlines may help the industry to focus on new markets.”

According to Visha Khosla, General Manager, Novotel Goa Dona Sylvia, the Tourism industry in India has become the latest victim of the global economic slowdown. “The slowdown in India, Brexit in the UK, fears of recessions in Europe and the US have are discouraging people to travel. Flexible and low-priced  VISA offered by destinations like Thailand, Sri Lanka and Vietnam and their better infrastructure and hygiene, coupled with economical accommodations give them a competitive edge over India, making our country less attractive,” said Khosla. However, he noted that recent VISA reforms and cut in GST rate are good steps to encourage inbound tourists and will benefit Goa and his hotel in a big way.

A few like Aditi Balbir, Founder and CEO of V Resorts, is optimistic about the new inbound season. According to her, the friendly and liberal visa initiatives by the government will boost demand and foreign tourist arrivals in the new season.

Robust market plan needed

Noting that there is immense potential in the tourism sector for investment, growth and employment generation, Srivastava emphasized that there is a need for a stronger enabling environment that will help propel this sector. “We have definitely witnessed an uptick in the sector. However, a lot more can be achieved, from growing the overall travel and hospitality market. Whether domestic or inbound, I think we still have some way to go in areas like taxation, brand and image management, and aggressive destination marketing, among others,” stated the Co-founder of Clarks Inn Group, adding further, “What we need is a robust market development plan for not just the newer source markets but also for our key existing inbound markets because even in these markets, we are only scratching the surface. Our numbers from countries like Russia, Canada, Germany, Japan, Malaysia etc. can be grown considerably, even more from China that has emerged as the world’s biggest tourism source market with around 150 million overseas travellers but contributes just about 250,000 visitors to India’s FTAs!”

The GST cut

Besides cuts in corporate tax, the GST Council recently provided reliefs to some segments of hotels by slashing the GST rate, which has been welcomed by the industry. Commenting on these measures, Srivastava said, “We do appreciate the government’s decision to reduce the GST tax slab for over Rs 7500/- tariff from 28% to 18%. This is a step in the right direction. But it needs to be in the lowest slab if the government’s objective is to grow tourism.” He termed the reduction in corporate tax as significant, timely and a step in the right direction. “It is doing a world of good to the corporates and their spending sentiments. Now they have extra cash and do not need to be austere,” Srivastava added.

Anil Kumar Prasanna of AxisRooms is of the view that the GST relief has come a bit late but added that this will have some uptake on the hotel occupancy. Welcoming the cut in the GST rate for hotels, Aditi Balbir said, “This step will boost tourism. Companies like ours will pass on a percentage of the benefit to the travel partners and the rest can be utilized to improve the guest experience.”  Visha Khosla also welcomed the announcement of the GST cut, saying, “It has come at an opportune time and will definitely boost tourism. Hotels are already seeing better traction and I am optimistic that this trend will continue.”

“What we need is a robust market development plan for not just the newer source markets but also for our key existing inbound markets because even in these markets, we are only scratching the surface. Our numbers from countries like Russia, Canada, Germany, Japan, Malaysia etc. can be grown considerably, even more from China that has emerged as the world’s biggest tourism source market with around 150 million overseas travellers but contributes just about 250,000 visitors to India’s FTAs!”

 -SN Srivastava, President & Co-Founder of Clarks Inn Group of Hotels

The post Inbound Season: Tourism Industry keeps fingers crossed   appeared first on TnHGlobal.

The press event was attended by Ms. Karen Pai, Deputy Executive Director of Taitra, Ambassador Tien Chung- Kwang, Taipei Economic and Cultural Center in India (TECC), Manish Singhal, Deputy Secretary-General and Head International of FICCI, Deepak Kumar, Executive Director (ITPO), and Ms. Madhumitha Ramanathan, Vice President of Invest India.

While addressing the media delegates, Ms Karen Pai, Deputy Executive Director, TAI-TRA, said, “Looking at India from a Taiwanese perspective, we see a vibrant country that is full of possibilities. In addition to India becoming the most populous country in the world, in 2028, New Delhi is set to overtake Tokyo the most populous city in the world. India’s future is full of possibilities and is an incredible place that Taiwan simply cannot miss! I also want to tell everyone here that Taiwanese companies, products, technologies, and tourism channels are ready to reveal their strengths, create new links with India, and generate mutual progress and prosperity together.”

Talking about their plans for India market, she further shared, “IIn recent years, bilateral trade between Taiwan and India continues to grow, with India being Taiwan’s 16th largest trading partner. In 2018, Taiwan and India’s total bilateral trade volume reached US$7 billion, a 5-year high and an 11% increase from 2017. Bilateral trade investments are also on the rise. Such growth illustrates the successful combination of Taiwan’s New Southbound Policy and Act East Policy from India, the benefits of synergy, and the increasingly strong interaction between the two countries’ people and businesses.”

TAITRA has come up with an interactive activity to increase the number of visitors attending the expo. Visitors can download the app: Marq+ and play interactive games in the expo. One of these game is to scan the butterfly image of Taiwan expo and add the butterfly wings to it. Visitors can win exciting prizes by participating in these activities.

There will be 10 theme pavilions in the expo – Taiwan Excellence Pavilion, Taiwan Green Products Pavilion, Taiwan IoT Smart Living Pavilion, Taiwan Healthcare Pavilion, Digital Commerce Pavilion, Taiwan Bubble Tea Pavilion, Taiwan Agricultural Pavilion, Taiwan Tourism Pavilion, Hsinchu Science Park Biotech Hub, Six Senses of Taiwan, Education & Tourism, ICT Product & Electrical Equipment, Medical Devices, Health & Personal Care and Taiwan High Quality Product.

This year the Taiwan Expo is focusing on six areas – Smart Cities, Smart HealthCare, Taiwanese Lifestyle, Taiwanese Agriculture, Taiwan Green Tech and Education, Culture, and Tourism. In addition to the Expo, Taiwan Expo 2019 will also see a host of industry forums like Taiwan-India Medical Cooperation Forum and Air Quality Management and Pollution Control Forum, covering topics such as air pollution control and health care during the course of the expo. The forums will offer the audience an opportunity to learn about Taiwan’s current industrial development and the areas in which the two countries can co-operate in the future. The rich exhibition content and professional seminars offered by Taiwan Expo 2019 means that the Indian visitors can learn about Taiwan in a comprehensive and in-depth manner.

Taiwan Expo 2019 will see participation from 130 exhibitors showcasing their state-of-the-art products through 230 booths. The show will be open between 10:00 AM to 6:00 pm.

Headquartered in Taipei, TAITRA is Taiwan’s foremost non-profit trade promoting organization. Sponsored by the government and industry organizations, TAITRA assists enterprises to expand their global reach.

The post Taiwan Expo 2019 to strengthen India-Taiwan business relations appeared first on TnHGlobal.

Please tell us about the current status of tourism in your country in terms of the number of arrivals.

In recent years, the Slovak Republic has become even more popular as a tourist destination. For example, in 2017 about 2,2 million foreign visitors came to Slovakia. This number is surely even higher, but statistics only include travellers staying in Slovakia at least for one night. If you take into consideration that the total number of Slovak citizens is only about 5.5 million,  you will find our tourism sector remarkable. Tourism in Slovakia generates revenues of roughly 5 billion € every year, which represents 5.2% of our total GDP.

Tell us about the overall tourism potential of Slovakia? 

When you compare Slovakia to India, we are really small because the size of our country is just about 50 000 sq km.  But even though we are relatively small you can find almost everything in Slovakia: about 120 medieval castles, almost 4200 churches and cathedrals, 9 national parks, more than 7000 natural caves, 1600 mineral and thermal springs, 40 spas and aquaparks, more than 50 ski resorts with hundreds of cable cars, almost 150 wineries… We can boast of a total of 30 records in the UNESCO list of world heritage.  Not to mention dozens of festivals, cultural events, galleries, museums and nightlife of course. You can find everything in Slovakia, maybe except the sea.

 What are the unique tourist destinations in Slovakia you would like to recommend?

To be honest, it is really difficult to recommend only a few, but I will suggest some tips to address everyone. For those who prefer nature, mountains and adventures, I would recommend our pride: High Tatra mountains, national park Slovak Paradise as well as our famous Demäňovská Ice Cave and Ochtinská Aragonite Cave that are listed in UNESCO. For those who want to see the history of medieval castles, there are Bojnice Castle, Red Rock Castle, Bratislava Castle, Spiš Castle, Orava Castle and many others.  All of them are fully renovated and wonderful. Those who would like to get to know Slovak culture and traditions should visit our open-air museums of traditional villages like Čičmany, Pribylina or Bardejov and of course they should not miss our traditional folk festival Východná every July.

What facets of tourism in your country do you think will appeal to Indians?  

I believe that all of abovementioned. We understand that travel preferences are very individual. Someone might like mountains and nature, others might like history and culture, someone might prefer to enjoy the nightlife. But as I explained in previous answers Slovakia can really offer something for everyone´s taste. Especially if you want to escape from the Indian summer heat and humidity or polluted air in winter, Slovak touristic resorts may offer you pleasant climate and fresh air during the whole year.

How important is India as a market for tourism in your country? Currently how many Indians are visiting Slovakia per year and for what purposes?

Last year we recorded more than 11 000 Indians that visited our country and stayed there more than one night. In this regard, I would like to highlight that Indian tourists on average stayed on our territory more days than other tourists. But still, there is a huge potential and we believe that we will attract even more Indian visitors in the future.

What are the new initiatives to attract Indian tourists? 

Just recently we doubled visa capacity at the Embassy and launched the cooperation with VFS Global in 3 cities – Delhi, Mumbai and Bangalore, which adds to tripling the visa capacity as compared to 2018. The latest initiative was an event presenting Slovakia as a tourist destination organized by the Slovak Embassy on March 6th. It was a very successful event and we are planning to organize more of them in the future, maybe even in collaboration with some agencies or organizations.

Please tell us about the Slovak visa process for Indians. How easier is it to get Slovak visa?  

Our visa issuing process has to strictly follow the Schengen Visa Code so we can say it is the same as in any other EU country. But at this point, I would like to recommend to any applicant: please, read the visa application instructions carefully and make sure everything in your application is correct and complete. Correct and complete application submitted in advance of the planned travel is likely to get easy and fast approval. As I have already mentioned, we have strengthened our visa office this year. Majority of Indian Schengen Visa applications in 2018 were business trips and average visa processing time was 4 calendar days.

How is air-connectivity between the two countries?

There is a very convenient flight connection via Dubai to Bratislava, and also direct flights to Vienna airport which is just half hour drive from capital Bratislava. And from Bratislava, it takes only 2-3 hours of car ride to get to most of abovementioned beautiful sites, mountains and attractions.

How long have you been in India? what do you enjoy the most about it? 

Together with my wife, we have arrived in June 2018 and since then we are trying to enjoy a variety of regional and traditional Indian cuisines.

—

The post SLOVAKIA: A COUNTRY REPLETE WITH NATURE’S BOUNTIES appeared first on TnHGlobal.

Tell us about tourism in Lebanon. What has the country to offer as a tourist destination?

The nature of Lebanon makes it the only country in the Middle East that embraces four seasons yearly. Irrespective of the season, there is always something special to enjoy. In the winter season, ski resorts offer tourists slopes that are comparable to the best resorts in Europe. In the summer, international festivals all over the country—in Baalbek, Beiteddine, Byblos, Jounieh and many others—bring together Lebanese and foreign artists to perform in stunning archaeological and historical sites. These events have given Lebanon an enviable place on the cultural map of the Middle East. Visitors to Lebanon enjoy outstanding service in world-class hotels and resorts, restaurants, casinos, theatres, cinemas and nightclubs as well as luxury shopping centres along with advanced communication and transportation services.

Which forms of tourism are more popular in your country? What are the popular attractions?

The most popular types of tourism in Lebanon are cultural tourism, nature and adventure tourism (including attractions like beaches and mountains), shopping, and religious tourism. Lebanon is enriched with tourist attractions, both natural and man-made.

What are the new initiatives by the Government of Lebanon to promote tourism in the country?

Our Ministry of Tourism recently launched ‘Rethinking Lebanon 2025’, a campaign to craft slogans that reflect Lebanon’s identity. As part of the campaign, Lebanese people from across the globe have been invited to come up with creative slogans that reflect Lebanon’s cuisine, nightlife, hospitality, etc. The slogan is meant to promote ‘brand Lebanon’ on the international arena. The competition aims to engage and challenge Lebanese youth all over the world to help create a virtual community to revive patriotic feelings and a sense of belonging among the Lebanese people.

Could you tell us about Lebanon’s international tourist markets?

The tourism industry in Lebanon has been historically important to the local economy and remains to this day a major source of revenue for Lebanon. The country has experienced a remarkable tourism growth; people from across the globe are exceedingly willing to visit Lebanon and explore what it has to offer.

How important is India as a tourist market for Lebanon?

A large number of Indians are exploring Lebanon as I have noticed a significant growth in the number of visa applications received. India, a country of 22 million outbound tourists annually, plays an important role in promoting Lebanon as a tourist destination. Indians are evolved travellers, who believe in experiential travel and want to do things at their own pace. Lebanon is a perfect destination for this category of tourists, therefore, Indian tourists love Lebanon.

How do you plan to attract Indian tourists to your country?

 We plan to collaborate with several players of travel trade in India. We also have many activities and initiatives in the near future. We want tourists from all parts of India to witness the exquisite and serene Lebanon experience. In addition to the major tier-I cities, we also plan to promote the destination in tier-II cities of India. The historical, deep and warm relations between our two countries and peoples make my mission to promote Lebanon much easier and pleasurable.

What would be your advice for Indians planning to visit Lebanon?

Travelling to Lebanon is a mode of self-realization, exploration, experiencing different cultures and meeting new people. I advise my Indian friends to fully indulge in this exceptional experience and enjoy the touristic sites, cuisine, nightlife, nature and Mount Lebanon, among many others.

What is the visa process for Indians?

Thanks to our partner VFS Global, applying for a visa has become easier for applicants. We have been getting positive feedback from the people.

 Tell us about the flights between India and Lebanon?

Although there is no direct flight to Lebanon from India, there are future plans that Middle East Airlines would run direct flights to and from Delhi. Currently, many airlines fly to Lebanon from India through one-stop transits.

How do you see India as a country? What do you like most about India?

India is a magnificent multi-cultural country that has a wonderful history and a rich culture. Above all, I have been impressed by the warmth and genuineness of the hearts of the Indian people.

QUOTE 

 “We want tourists from all parts of India to witness the exquisite and serene Lebanon experience. In addition to the major tier-I cities, we also plan to promote the destination in tier-II cities of India.”

The post ‘Lebanon is a perfect destination for Indians’ appeared first on TnHGlobal.

Turkey and India share many commonalities based on cultures, values, histories, progressive ideas,  citizen welfare, etc. We have solidarity with each other. Relations at the leadership level between the two countries are very close. Indian PM Narendra Modi and Turkish President met a couple of times in the last three years and they share very close and cordial relations. I think it is not easy to develop such exemplary relations in such a short period of time. India and Turkey are on the same page on almost all the regional and international issues. Both countries work closely to strengthen regional security and stability in the world.  Our foreign policy is similar to India’s.

Fight against Terrorism

We are on the same page in the fight against terrorism. I think it is necessary to address the root causes of terrorism. Fight against terrorism cannot be won unless the root causes of terrorism are addressed. It is also important that while fighting terrorism, one should refrain from hyphenating it with religion.  Certain media organizations in the west, because of their vested interest,  hyphenate terrorism with Islam, that is unacceptable. You would never hear terrorism being clubbed with any religion in India, China or in any Muslim country.  It happens only in the western world.

No country can benefit from cooperating with one terrorist organization to fight another one, but a few countries are doing so. I agree with the Indian position that terrorists cannot be divided between good and bad, as all terrorists are bad. Turkey has been suffering from the scourge of terrorism from a decade.

Tourism

Government of Turkey offers e-Visa to Indian tourists that is very easy to avail. In 2017, about 75% of total  Indian tourist arrivals to Turkey visited the country on e-visa.   As of now, Turkey does not come under the e-visa scheme of Government of India, which is a hindrance in Turkish nationals visiting India.   On the other hand, India is yet to reciprocate Turkey by offering e-visa to its citizens. India currently offers e-visa to 161 countries, but Turkey is among the remaining countries whose nationals are eligible for Indian e-visa. Turkish people love India, especially Turkish ladies even without visiting the country. Turkish ladies love Indian costumes, necklace, stones, jewellery, etc.

But if any Turk wants to visit India, he or she will have to visit Indian consulate to apply for a visa, and wait for 15-20 days. This discourages Turks to visit  India and act as a barrier to tourism from Turkey to India. I request the Government of India to allow Turkish citizens to avail Indian e-visa so that they can see this beautiful country, enjoy Indian hospitality and experience Indian couture and heritage.  India has immense tourism capacity such as archaeology, nature, shopping food, culinary.

ON INDIA-TURKEY RELATIONS

Relations between India and Turkey go back to the early part of the 20th century when the Khilafat movement supported by Indian National Congress and Mahatma Gandhi protested against the British rule for abolishing the Caliphate in Turkey. Gandhi was a great son of India.

Government of Turkey has given shelters to a large number of Syrian refugees who fled  Syria to escape the continued violence. The ambassador strongly feels that there is a need to improve commercial and economic ties between the two countries.

The political and diplomatic relations between India and Turkey are very cordial. The relationship at the top leadership level is excellent. Indian Prime Minister Narendra Modi and Turkish President Recep Tayyip Erdoğan share very close relation. They developed a very warm and cordial relation in a very short span of time. They have met each other on many occasions. Turkey is on the same page with India on a wide range of regional and international issues. We are on the same page as India on the matter of countering terrorism. Turkey has also been a victim of terrorism for a decade.

Like India, Turkey is also a member of G20. Both countries have similar views on many regional and international issues and they work together on many international forums. We completely agree with India’s position that there is no good terrorist or bad terrorist; all forms of terrorist are bad and one cannot differentiate between terrorists on the basis of political expediency. However, it is necessary to address the root causes of terrorism. Terrorism cannot be eliminated completely unless its root causes are addressed. It is also important that terrorism should not hyphenated with any religion. It is not hyphenated with any religion in Turkey, India or China. But certain media houses in Europe hyphenate terrorism with Islam, which is wrong.

Trade relations

We are a free market economy. Doors are open for Indian businessmen and investors to come to Turkey and invest.  We are working to deepen our strategic ties. We are working together to enhance our trade network and energy security. We cooperate with each other in regional and international institutions. Both countries are members of G20. Turkey is a  member of NATO and intends to join the European Union. The current Turkish government is strengthening the country’s ties not only with its neighbours but with all geographies of the world. We are partnering with ASEAN and  Shanghai Cooperation Organization (SCO). India and Turkey together form a 3 trillion dollar economy and have a huge potential of bilateral trade. Unfortunate, in the past,  we have neglected our economic and commercial relations.

The current size of bilateral trade is less than 7 billion (as in 2017). It does not reflect the true potential of our bilateral trade. Our potential is quite high.  First of all, we must expand the size of our cake, then we talk about the trade balance. Our economic potential is quite enormous. Now we looking beyond our neighbourhood. We are realizing that we need to expand our trade with countries and regions like Iran, America, Africa, China, India, Japan and so on.

Turkey and India are in talks to sign a comprehensive economic partnership agreement. We have held five rounds of talks so far. The agreement is expected to be signed in the next two-three years. This would be an important instrument to promote bilateral trade and the size of the trade will increase exponentially.

Another area of cooperation is that both countries can trade with each other in their national currencies. Today we trade only in USD. But we can do some part of our trade in Indian currencies and Turkish Lira. I think it will be a win-win situation for both countries. We need to develop and establish a mechanism to exchange Rupees and Lira to trade in our currencies.

The total bilateral trade volume between India and Turkey was 6,975 billion USD. In the first eight months of 2018, the total bilateral trade between the two countries has been 5,893 billion USD as compared to 4,182 billion USD in the same period of 2017, registering a 40% increase.  Honourable Prime Minister of India and the President of Turkey have set a target of 10 billion USD bilateral trade between the two countries by 2020.

The economic and commercial ties between the two countries are improving. The two countries have had very good political and economic relations, but our economic and commercial ties have not been very strong. We are quite behind in realizing the full potential of our economic and commercial ties. Turkey remained focused on its neighbouring countries and ignored commercial ties with countries like India. In fact, both countries ignored the commercial aspect of their bilateral ties in the past. Now we are discovering the potential of our commercial ties.

Humanitarian Assistance

Considering the ratio of Turkish official humanitarian assistance to its GDP, Turkey is the most generous country in the world in offering humanitarian assistance to countries in crisis. It is the second biggest donor country in the world after the USA. Turkey’s contribution to global humanitarian assistance is 3,2 billion US Dollars. Turkey has been very generous in providing humanitarian assistance in crisis-ridden Syria and to Syrian nationals. Turkey has been providing asylum to a large number of Syrian nationals who were forced to flee Syria due to its ongoing crisis.  I have been in India for the last 20 months. I love India very much and feel at home here.  India is a great civilization.

QUOTE:

“We are on the same page in the fight against terrorism. I think it is necessary to address the root causes of terrorism. Fight against terrorism cannot be won unless the root causes of terrorism are addressed. It is also important that while fighting terrorism, one should refrain from hyphenating it with religion.”

The post ‘Immense potential of trade and tourism potential  between India and Turkey’ appeared first on TnHGlobal.