Swedish Senses

The purpose of Swedish Senses is to promote Swedishdesign and products and to provide a way for companies,organizations and designers to exhibit their products,services and ideas to the Turkish market.

Swedish Senses will take place between the 1-28 of June2009 in Cevahir, Istanbul's largest shopping mall, in orderto reach as many consumers as possible.

The following groups are participating at the event:Swedish companies targeting consumersSwedish designers, chefs and artistsTourism offices and agenciesSchools and Universities

More specificly: VOLVO, Pågen, KTH, Thule, Oriflame,SAS, WASA, IKEA and the LifeCo

The Swedish participation is organized through a SwedishPavilion at the ground floor in Cevahir. In order to attractmore visitors the event included a number of activities,for example visitors will be offered Swedish food tasting,competitions, celebration of midsummer and more. Onthe Swedish national day the 6th a Swedish receptionwith VIP's will be organized in conjunction with theinauguration of the event.

We hope that You are able to come down to Cevahirduring the month of June to celebrate with us all that isSwedish!

ABB hosted the SCC meeting in January

Due to the rebuilding of the Swedish Consulate in Istanbul,the monthly meetings of SCC are now being hosted bythe different members of the Swedish Chamber ofCommerce. The first member on the list, and the first tohost a meeting, was ABB and it's President and CountryManager in Turkey, Burhan Gündem.

The theme for the day was energy efficiency. The firstpresenter on the agenda was the Consul General ofSweden, Mr Torkel Stiernlöf. The topic of his presentationwas "Sustainability- Sweden, Turkey and theEnvironment" where he outlined the Swedish Consulate'sfocus of the upcoming months with special considerationgiven to Sweden's new chairman position in the EuropeanUnion starting July 1, 2009.

After an interesting introductory address by the ConsulGeneral, the President and Country Manager for ABB inTurkey, Mr Burhan Gündem, presented ABB and theirwork with a focus on "ABB and Energy Efficiency."According to Mr Gündem, energy efficiency is "the otheralternative fuel," with the potential to reduce energy lossalong the energy value chain. He argued that now is agreat time to tackle energy efficiency issues since energyprices are increasing while the technology for loweringenergy loss is here. According to Mr. Gündem, ABB hasdeveloped leading technology at each step to reduceenergy loss along the energy values chain. By reducingenergy losses, ABB technology mitigates demand fornew power generation, makes better use of naturalresources, and increases the efficiency and competitivenessof the industry.

Following the presentation, we were served coffee andgiven a guided tour of ABB's factory in the industrial partDudullu on the Asian side of Istanbul. It was here thatwe got the opportunity to see the work of ABB in Turkeyand also ask questions to Managers and employees.

MAY 2009 - 2

ISSUED BY THE SWEDISH CHAMBER OF COMMERCE IN ISTANBUL, TURKEY

SCC NEWS

Atlas Copco hosted the SCC meeting in February

After driving the hour-long way to Tuzla, situated in thesuburban part of Istanbul's Asian portion, we were welcomedwith coffee and cookies at Assa Abloy Turkey.

The second SCC meeting of the year was opened by theConsul General Mr. Torkel Stiernlöf. The topic of his agendawas "Foreign Policy Statement," with a focus on Sweden'supcoming presidency of the European Union and how theConsulate will push for progress in the negotiations withTurkey to become a member of the Union in the near future.In talking about a continuous enlargement of the EuropeanUnion, he also maintained that a reunification of Cypruswould gain the whole island and region.

"A world leading provider of industrial productivity solutions"

After Mr. Stiernlöf's introductory speech, the CountryManager of Atlas Copco Turkey, Mr. Jean-Yves Frin,presented the history and work of Atlas Copco Turkey,starting in the twenties when the company first establisheditself in the Turkish market, through the present day whereAtlas Copco is involved globally in a variety of fields. Mr.Frin introduced the many brands of Atlas Copco and gaveus a deeper understanding of the whole organization, includingthe compressed air business in which they are world leaders.

Following Mr. Frin's overview, Mr. Erdem Tüzünalp, theGeneral Manager responsible for the mining section gaveus a deeper understanding of Atlas Copco's constructionand mining technique, where the focus is on efficiency.

Mr. Haluk Aykul, from the Istanbul office of the executivesearch company Transearch, was specially invited for themeeting. He introduced different reactions to the economiccrisis among employees. He encouraged everyone at themeeting to think positive in order to handle negative results.His solution for these hard times was patience, harder work,increased flexibility and creativity.Following the presentations we were given a guided tour ofthe premises of Atlas Copco and the afternoon concludedwith an appetizing cocktail in the canteen.

SCC March Meeting

Volvo event at Istanbul Modern

Volvo Car Overseas Corporation President, LexKerssemakers, who was formerly Senior Vice Presidentfor Volvo Car Corporation Brand, Product and BusinessStrategy, made a brief presentation on Volvo's brandvalues and target group.

Volvo Cars define their target customer group aspeople-centric, highly educated and having an open-minded and modern attitude. For them innovation isimportant. They are curious and seek knowledge.They shop to reward themselves and express theirpersonality, therefore wanting distinctive design andstrong brands.

Volvo brand imagery is evolving through new productstowards a more desirable brand. More recent models- e.g. C30, XC60 - drive the brand and add a moreyouthful, desirable spirit.

Volvo Cars' mission statement is: "We design carsfor a better life". Lex Kerssemakers stated that VolvoCars will continue to build the safest cars to be leadingin both passive and active safety, while deliveringdistinct, attractive yet, functional design.

Volvo Cars will also strive to be a leader onenvironment with a target to deliver 80 g target lineCO2/km by year 2020.

Volvo Cars just launched 7 environmental models(C30, S40, V50, V70, S80, XC60, XC70) what theycall DRIVe range at the beginning of March in GenevaInternational Auto Show with best in class CO2 levels.

The safety innovations such as City Safety, DriverAlert Control, Full Speed Range Adaptive CruiseControl and Collision Warning and Mitigation systemwith full automatic braking power will also continueto be seen and further developed in future Volvo modelsand the vision for year 2020 is that no one will beinjured or die when involved in a car crash with aVolvo.

2

3

SCC April Meeting

Corporate Social Responsibility and

Swedish reflections

The monthly meeting of the Swedish Chamber ofCommerce in Turkey was held in the afternoon onApril 22 in the premises of the Swedish Institute incentral Istanbul. Special guest of today was Ms.Catharina Kipp, CSR ambassador of the Swedishgovernment. The objective of the meeting was to giveupdated information on Corporate SocialResponsibility and Swedish reflections on the subject.Ms. Kipp opened the speech by quoting Ewa Björling,the Minister for Trade, saying that the Swedishgovernment encourages companies to follow the OECDGuidelines for Multinational Enterprises and to respectthe principles contained in the Global Compact,wherever in the world they happen to be active.However, she also stressed the importance thatcompanies themselves feel a sense of ownership andpursue these issues. The Swedish government has twocentral reasons for why they promote CSR; an activefree trade policy and a coherent foreign anddevelopment cooperation policy emphasising the linkbetweenhuman rights and sustainable development. Ms. Kipphighlighted the importance of CSR being an importanttool in doing business and that it is strengthening thecompetitiveness of Swedish companies. The Swedishgovernment wants to encourage and assist Swedishcompanies to become CSR ambassadors for humanrights, core labor standards, anti-corruption and theenvironment. As of this year, governmentally ownedcompanies have to follow the Global OperatingInitiative (GOI) reporting.Due to Sweden's upcoming presidency in the EuropeanUnion, a CSR-conference in Stockholm will bearranged on November 10-11. Ms. Kipp maintainedthat she would like to see a Turkish companyrepresented at the seminar. The Swedish Trade Councilin Istanbul together with the Swedish Consulate gotthe assignment to together nominate a Turkishcandidate for the event.The presentation was followed by a discussion on thechallenges of working with CSR in the businessenvironment today. Mentioning the broadeneddefinition of CSR and the difficulty of applying CSRto your supply chain, the participants asked Ms. Kippfor suggestions on how to successfully work with CSRin their companies.

Bowling Tournament 30th April 2009

The Bowling Tournament organized by the SwedishChamber of Commerce took place on the 30th of Aprilat the Cosmic Bowling at Korukent. 10 teams participatedin the Bowling Tournament. Each team played twogames and at the end the winners were decided accordingto the highest score received over the two games. Volvobecame the winner with 1365 points, SKF followingsecond with 1335 points and Schenker Arkas a third placewith 1282 points. The highest individual score was byÇetin Kara from the Atlas Copco team with 333 points.The Swedish Chamber of Commerce would like to thankall participants for a great evening, and would like tocongratulate the winning teams.

4

Company Presentation

Ǜnar & Ǜnar Consultancy Group and Law Office

Cinar & Cinar Consultancy Group, working in fullcooperation with Cinar & Cinar Law Office, isestablished in 1988 to help our Clients' and meet theirlegal and commercial needs. However the heart of ourcountry is considered as Istanbul where %80 of thecommercial activities take place in, the hidden andmay be more important plot is the capital city Ankarawhere all the major political, governmental andadministrative decisions are made in. With our twooffices, we are so close to the most important locationsof our country and we are positioned to help our clientswith all of their ongoing legal needs in Turkey andabroad.

We provide a wide range of specialized consultancyservices, including but not limited to due diligencestudies, corporate security, project financing, nationalpermitting and licensing, set-up of joint ventures

between multi-national companies, employment andbanking issues. As a full-service law firm, Cinar &Cinar has expertise in the full spectrum of legal fields,including Arbitration and Litigation, Turkish andInternational Commercial Law, Contracts Law,Construction Law, Corporate Law/M&A, Energy Law,European Union Law, Foreign Investment Law,Intellectual Property Law, Labor Law, PrivateInternational Law, Tax Law, Telecommunication Lawand Criminal Law, our young, excited and enthusiasticteam composed of lawyers, academicians and financespecialists are ready to deeply welcome our prospectiveclients.

Cinar & Cinar Consultancy is focused on the successof its clients. With this clear objective, we arecommitted to provide our clients with innovate advicethat meets their commercial objectives and offer thelegal, safe and the right way for them.

For more information on our services, please contact:Cinar & Cinar Ankara +90 312 426 90 22Cinar & Cinar ‹stanbul+90 216 680 19 70www.cinarconsultancy.comwww.cinarlaw.com

Swedish Invention

Anders Celsius

Anders Celsius (1701-1744) exhibited unusualmathematical talent, even as a young schoolboy. Hesoon gave up the law studies he had begun at UppsalaUniversity to devote himself entirely to mathematicsand astronomy. He was appointed professor asastronomy at Uppsala University at the age of 29.Celsius' wish that an observatory be built in Uppsalaresulted in Sweden's first observatory being erectedthere in 1741. The observatory was formally openedthe following year and still stands today, with theexception of its upper section. As an astronomer,Celsius made countless observations and so contributedto world knowledge of solar and lunar eclipses, theorbits of the plants, comets, the aberrations of thestars, and the breakdown of lights in the atmosphere.Celsius is best remembered for his centigradethermometer, which is used in many areas of the worldtoday. In 1741 he first used his experimentalthermometer, which is preserved at UppsalaUniversity's Department of Meteorology. Initially,

Celsius had placed the boiling point of water at zerodegrees and the melting point of ice at one hundreddegrees. It is said that it was Carl Linnaeus whoreversed the scale. Celsius' thermometer has gainedwidespread use because the boiling point of water andthe melting point of ice are two reference points thatare easy to identify and re-create.

NEWS IN BREIF

5

‹SVEÇ T‹CARET MERKEZ‹ DERNE⁄‹SWEDISH CHAMBER OF COMMERCE

Published by the Swedish Chamber of Commerce 3 times a year.We thank to Print Center for their support in publishing this issue.

Çilekli Cad. No:8 TR-34330 3. Levent - ‹stanbulTel: +90.212.317 90 55 - Fax: +90.212.317 90 44

NEWS IN BREIF

Swedish prime minister due

in Turkey

Swedish Prime Minister FredrikReinfeldt will pay a two-day trip toTurkey. He will discuss Turkey's EUmembership process, the globaleconomic crisis and environmentalissues with Turkish officials, said theSwedish Prime Ministry in a newsrelease. Reinfeldt will meet withTurkish President Abdullah Gül andPrime Minister Recep TayyipErdo¤an while in Ankara.20 April 2009, Turkish Daily News

Sweden brings opportunity

to Turkey

The fact that Sweden will assume therotating presidency of the EuropeanUnion provides a big opportunity forTurkey, said the country's onlyTurkish-origin parliamentarianMehmet Kaplan. He said Swedishpoliticians believe Turkish Cypriotswere tricked during the entry of GreekCyprus into the EU. "It is a big chancefor Turkey that Sweden assumes thepresidency at a time when these issueswill be discussed," Kaplan said.2 May 2009, Turkish Daily News

Swedish unemployment rises

to 8.3 % in March

Sweden's unemployment rate climbedto 8.3 % in March, the fifthconsecutive monthly rise and up from8.0 % in February, said the StatisticsSweden (SCB). A total of 404,000Swedes were out of work in March,99,000 of whom had beenunemployed for more than a year,

Statistics Sweden said in a pressrelease. The largest increase wasamong men aged 15-24 whereunemployment rose by 4.8 %agepoints to 24.7 %, Statistics Swedensaid. In March, 4.45 million Swedesheld down a job, a drop of 70,000from the same period last year. "Withregard to the area of industry, thenumber of employed personsdecreased in the manufacturing andconstruction industry, where 53,000and 23,000 fewer persons wereemployed respectively," the statementsaid. Sweden's economy officiallyentered a recession in the third quarterof 2008 and the country's central bankexpects it to contract by 4.5 % thisyear. The ministry of financeforecasts unemployment to peak atthe start of 2011 at 11.7 %, beforefalling again when the economy isexpected to recover.http://www.thelocal.se/19044/20090423/

Swedish economy in 'long,

dark winter'

Sweden's GDP fell by 4.9 % in the4th quarter of 2008 compared to thesame period a year before. Betweenthe third and fourth quarters of 2008,Sweden's economy sank 2.4 %,according to figures from StatisticsSweden. "It's obvious that Swedenfinds itself in a very powerfuleconomic slowdown. We're in a long,cold, dark winter," said Minister ofFinance Anders Borg. "It's quite clearthat such a reading is correct."Economists had estimated thatSweden's GDP, which measures tototal sum of goods and services soldwithin the country, would fall by 2.0

% on an annual basis, according toa survey by Reuters. The figuresconfirm that Sweden is now in arecession, said Robert Bergqvist,chief economist at the SEB bank.Sweden, which has been especiallyhard-hit by the troubles plaguingcar makers worldwide, saw itsexports fall 7.2 %, imports decrease5.4 %, and industrial productionshrink 6.1 % in the fourth quarter.Household consumption also fellby 3.3 % during the fourth quarter.http://www.thelocal.se/17882/20090227/

Swedish inflation slows to near zero

Swedish inflation slowed to 0.2 % inMarch from 0.9 % in February, saidStatistics Sweden (SCB). The fall isdue primarily to lower interest ratesand therefore mortgage payments forhome owners. On a month-on-monthbasis, consumer prices rose by 0.3 %from February to March, an increaseattributed primarily to higher pricesfor clothing, shoes and petrol. Theincrease was however countered bylower interest rates and further pricedecreases on electricity, the agencysaid. Sweden's central bank(Riksbanken) has, like many of itspeers around the world, dramaticallyslashed its main interest rate in recentmonths, with the rate falling from4.75 % in September to the current1.0 %. The bank has hinted that it isprepared to slash the rate to zero atits next meeting later this month inan attempt to stem the effects of theeconomic crisis.http://www.thelocal.se/18840/20090414/