How can HSBC Turkey assist corporate clients who are coming from abroad?

Through our global connectivity and international footprint HSBC plays a complementary role in helping businesses to expand into Turkey. Our dedicated international business teams strive to bring the best of HSBC to our international customers, globally and consistently, with the aim of making international banking as easy as banking domestically. With a strong reputation for the quality of our products, knowledge of the local market, and cross-border experience, HSBC is uniquely positioned to serve foreign businesses as a leading foreign bank in Turkey.

What services can you offer Maltese companies coming to Turkey?

Looking specifically at Maltese companies coming to Turkey, HSBC would certainly leverage the fact that we have a strong presence in both countries to assist entry of these companies into the Turkish market. This could be done through the provision of a full range of financial services that we have on offer here in HSBC Turkey – from retail banking and wealth management all the way to large global corporate banking clients. Our international team in Turkey would be in close contact with its counterpart in Malta in order to get a full understanding of the clients' needs and to ensure a seamless entrance into Turkey. Lastly, if Maltese companies were to be in need of local partners, suppliers, or clients here in Turkey, we may be able to facilitate their first contacts based on our deep knowledge of the market and its key players.

Could you elaborate more on the International Banking team?

HSBC, which sees Turkey as an important market with its strong economy and potential for further growth, established in Turkey in early 2012 an International Banking team which is formed by a group of highly qualified professionals with international working experience, strong foreign language skills and experience on managing foreign companies entering the Turkish market. This is dedicated to serving foreign subsidiaries operating in Turkey. The team has a very close liaison with HSBC offices around the world and is experienced at handling subsidiary requirements from start-ups through to large corporate clients. In addition, eight languages are spoken within the team in order to suit customer preference: English, Turkish, Spanish, French, German, Italian, Arabic and Greek.

How significant is the fact that you have a presence in Turkey?

Throughout our history, HSBC has been where growth is, connecting customers to opportunities. In this sense, as Turkey becomes an evermore strategic market for our customers, it also grows in importance to HSBC. Turkey is among HSBC Group's top 22 priority markets for investment and we are anticipating expansion of our network and an increase in the number of our employees in parallel. In line with our strategy, we will continue to build upon our existing customer base, while investing in our technology, direct banking capabilities and our people. Our core goal remains to be Turkey's leading ýnternational bank.

What is the size of HSBC's presence in Turkey?

Today, HSBC serves Turkey with a full range of products and services, an uncompromising dedication to customer satisfaction and a commitment to become the country’s leading international bank. With over 22 years of experience in the market, HSBC has a wide distribution network in Turkey with presence in 62 cities across the country. We have over 6,000 employees across 316 branches and a strong retail, card, corporate and commercial banking customer base. With this extensive network, we have the pleasure to serve over two million customers across the country.

With its expertise in the domestic market and devotion to serve its market ahead of competition, combined with its distinct advantage in providing privileged access to one of the world’s largest financial networks, HSBC Turkey is well placed to set the pace of international banking in Turkey, supporting all those who wish to grow with Turkey.

What has fuelled the increasing interest of foreign companies to enter the Turkish market?

Turkey’s economic expansion has been fueled by increasing stability, a robust macroeconomic framework, private consumption and attractive tax regimes. Together with an advantageous geographical position, a growing young population and an increasingly qualified work force, it has become a magnet for foreign investment in recent years. All this highlights a country with “significant mass”, a favourable demographic profile and exceptional growth potential. The young population is one of the principal reasons behind the fast growth of the Turkish economy over the past decade. Turkey’s GDP growth in 2012 outpaced the US and the EU, putting it alongside the world’s fastest growing emerging economies. FDI inflows to the country reached US$ 12.4bn in 2012. Our global research analysts expect Turkey to rank 12th in the world by 2050 in GDP terms, with a US$2 trillion economy.

Are you able to provide any examples of successful business relations between Malta and Turkey?

Turkey and Malta have enjoyed close political and economic relations in recent years. Two specific sectors where these linkages have grown over the past decade are in the maritime sector and tourism. Maritime trade between the two countries escalated to record highs in 2012 which is exemplified by the fact that 30% of Turkey's internationally-registered shipping fleet is registered at Malta shores. The trade between the two countries is set to rise even further with investment and tourism expected to increase strongly.

To give a specific example of successful business relations between Maltese and Turkish firms, in 2008, Air Malta and Turkish Airlines signed a comprehensive codeshare agreement. The joint code allows Turkish Airlines to use their own flight numbers on flights operated by Air Malta. Through this agreement both Air Malta and Turkish Airlines passengers can avail themselves of a broader choice of connections that will be developed via Istanbul to and from other destinations in Turkey and beyond. The codeshare agreement is expected to pave the way for further cooperation between the two airlines in the near future and strongly increase tourism flows between the two countries.

What advice would you offer Maltese companies about setting up and doing business in Turkey?

As is the case when entering any new market, Maltese companies should carefully research and consider the local business environment in Turkey. This includes not only macroeconomic indicators but also the local culture, the taxation environment, legal implications, investment incentives, financing and payment methods, as well as alternative strategies for entry into Turkey.

As part of providing the best service to our customers and business partners, HSBC, in collaboration with PricewaterhouseCoopers, has produced a "Doing Business in Turkey" guide to help companies gain valuable insight into the Turkish market and the wide range of financial services and investment opportunities that exist. Together we possess a wealth of experience and teams of local experts ready to support your objectives in this market. The Guide can be viewed on the internet (https://globalconnections.hsbc.com/global/en/tools-data/country-guides/tr-march-2013) or via the HSBC Country Guide app.