ISTANBUL // Erdal Kabatepe is certain that Turkey's appetite for joining the EU is ebbing away. After all, the money he has been using to promote the country's European perspective is doing just that.
"It is difficult to collect membership fees," said Mr Kabatepe, head of the EU-Turkey Co-operation Association, or Turkab, a pro-European lobby group. Turkey's EU bid "is a lost case,", he said. "The government is looking towards the Arab world and Russia."
Ever since the prime minister, Recep Tayyip Erdogan, won praise from Middle Eastern countries and raised eyebrows in the West by storming out of a heated debate with the Israeli president at the World Economic Forum in Davos in January, Turks have been debating a question that touches the identity of this Muslim, but secular country: is Turkey about to turn away from the West?
Mr Kabatepe is not alone in wondering if Ankara has lost interest in becoming ever deeply integrated into western institutions such as the EU under the government of Mr Erdogan and his Justice and Development Party, or AKP, which has roots in political Islam. "Will we be a religious state or an EU member in 10 years from now?" the daily newspaper Vatan asked last weekend, when it started a series of articles that deal with the question of where Turkey is headed.
Critics and opposition politicians say Mr Erdogan's government has been working to change the strategic outlook of a country that has historically tried to become an integral part of the West. Turkey became a member the Council of Europe in 1949, joined Nato in 1952 and signed an association agreement with the forerunner of today's EU in 1963. It is also a partner of Israel and has been conducting a close military co-operation with the country since 1996.
But under Mr Erdogan's government, Turkey has also become much more active in Middle Eastern affairs in recent years and has done much to mend ties with countries such as Iran and Syria, seen as promoters of terrorism in the West.
The government rejects the accusation that it is steering Turkey towards the Middle East and argues that it was Mr Erdogan and the AKP who presided over the start of EU membership negotiations in 2005, a goal that had eluded previous Turkish governments for decades.
Membership talks have proceeded slowly, however, leading to a sense of frustration in both Ankara and Brussels.
At the same time, Mr Erdogan has been accused of putting Turkey's alliance with Israel at risk by harshly criticising Israeli actions in Palestinian territories while demanding a political role for Hamas, an organisation the West says is bent on destroying Israel. Turkey is the only Nato member that has welcomed a Hamas delegation for talks.
Mr Erdogan's performance in Davos and the reactions it triggered in the Middle East are viewed by some as further proof of the new course Turkey is taking in international affairs.
In a sign of protest against not having received adequate time to respond to a defence of the Israeli attack on Gaza by Israel's president, Shimon Peres, Mr Erdogan left the stage during a panel discussion. In the days after the Davos incidents, there were demonstrations in support of Mr Erdogan in the Gaza Strip. Representatives of Turkey's Jewish community have reported an increase in anti-semitism.
Internal critics and some international experts say that Turkey's position in world affairs is shifting.
"There are powerful long-term forces at work in Turkish society and politics, and these are likely to reinforce an already strong sense of Turkish nationalism and exceptionalism," Ian Lesser of the German Marshall Fund, a group promoting greater understanding between the United States and Europe, wrote in a recent report.
"The net result may well be a steady augmentation of Turkey's international agenda, in which the western dimension, including US-Turkish relations, EU candidacy, and the role of Nato are relatively diminished."
During a visit to the EU headquarters in Brussels last month, opposition leader Deniz Baykal said that under Mr Erdogan and the AKP, Turkey was turning away from secularism and the West.
"What we are witnessing is a conservatism that is a return to Middle Eastern values," Mr Baykal said in reference to Turkey's Ottoman past, according to press reports. "It is unacceptable [for Turkey] to be part of the same region as Hamas and Hizbollah," Mr Baykal said.
In a report for the Washington Institute for Near East Policy, a think tank, Mark Parris, a former US ambassador to Ankara, wrote that "in terms of foreign policy, the AKP's record is marked by Turkey's closeness to Sudan, Russia, and Iran, and paints an alarming picture".
For Mr Erdogan's domestic critics, views like that are a confirmation of their own concerns.
"Finally, the outside world is also becoming uncomfortable," Gungor Mengi, the editor of Vatan, wrote recently. The AKP is accused by the opposition of having a secret agenda to turn Turkey into an Islamic state, something the AKP denies.
But even some observers who are known for their criticism of the Erdogan government doubt that Mr Erdogan's Middle East policy is a sign of a strategic realignment and say Turkey would have nothing to gain from such a manoeuvre.
"With its secular and democratic structure and values, Turkey is a country that serves as an example for the Arab street," Fikret Bila, a columnist, wrote in Milliyet, a daily newspaper, under the headline: "Turkey does not break away from the West."
tseibert@thenational.ae
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh190,000 (Countryman)
The specs
Engine: 4.0-litre flat-six
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Match info
Uefa Champions League Group F
Manchester City v Hoffenheim, midnight (Wednesday, UAE)
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
Important questions to consider
1. Where on the plane does my pet travel?
There are different types of travel available for pets:
- Manifest cargo
- Excess luggage in the hold
- Excess luggage in the cabin
Each option is safe. The feasibility of each option is based on the size and breed of your pet, the airline they are traveling on and country they are travelling to.
2. What is the difference between my pet traveling as manifest cargo or as excess luggage?
If traveling as manifest cargo, your pet is traveling in the front hold of the plane and can travel with or without you being on the same plane. The cost of your pets travel is based on volumetric weight, in other words, the size of their travel crate.
If traveling as excess luggage, your pet will be in the rear hold of the plane and must be traveling under the ticket of a human passenger. The cost of your pets travel is based on the actual (combined) weight of your pet in their crate.
3. What happens when my pet arrives in the country they are traveling to?
As soon as the flight arrives, your pet will be taken from the plane straight to the airport terminal.
If your pet is traveling as excess luggage, they will taken to the oversized luggage area in the arrival hall. Once you clear passport control, you will be able to collect them at the same time as your normal luggage. As you exit the airport via the ‘something to declare’ customs channel you will be asked to present your pets travel paperwork to the customs official and / or the vet on duty.
If your pet is traveling as manifest cargo, they will be taken to the Animal Reception Centre. There, their documentation will be reviewed by the staff of the ARC to ensure all is in order. At the same time, relevant customs formalities will be completed by staff based at the arriving airport.
4. How long does the travel paperwork and other travel preparations take?
This depends entirely on the location that your pet is traveling to. Your pet relocation compnay will provide you with an accurate timeline of how long the relevant preparations will take and at what point in the process the various steps must be taken.
In some cases they can get your pet ‘travel ready’ in a few days. In others it can be up to six months or more.
5. What vaccinations does my pet need to travel?
Regardless of where your pet is traveling, they will need certain vaccinations. The exact vaccinations they need are entirely dependent on the location they are traveling to. The one vaccination that is mandatory for every country your pet may travel to is a rabies vaccination.
Other vaccinations may also be necessary. These will be advised to you as relevant. In every situation, it is essential to keep your vaccinations current and to not miss a due date, even by one day. To do so could severely hinder your pets travel plans.
Source: Pawsome Pets UAE
FIGHT%20CARD
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Test
Director: S Sashikanth
Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan
Star rating: 2/5
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%203S%20Money%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202018%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20London%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Ivan%20Zhiznevsky%2C%20Eugene%20Dugaev%20and%20Andrei%20Dikouchine%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20FinTech%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%3C%2Fstrong%3E%20%245.6%20million%20raised%20in%20total%3C%2Fp%3E%0A
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
OPENING FIXTURES
Saturday September 12
Crystal Palace v Southampton
Fulham v Arsenal
Liverpool v Leeds United
Tottenham v Everton
West Brom v Leicester
West Ham v Newcastle
Monday September 14
Brighton v Chelsea
Sheffield United v Wolves
To be rescheduled
Burnley v Manchester United
Manchester City v Aston Villa
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
