NEWSROOM

Favori Kargo, the Turkish e-commerce and cargo transportation company operating in many countries in the Middle East, started to export to Europe. The company chose Hungary for their representative office.

*** This release is originally published in Turkish.
Google Translate Application translates the content you see on this page.***

ISTANBUL (TR) - Favori Kargo, which has been operating within the Yalvaç Group of companies since 2011 and is one of the largest companies in Turkey engaged in e-commerce and cargo transportation at the same time, decided to turn its route to Europe. The Turkish company, which operates in several countries in the Middle East, chose Hungary as its center for exporting to Europe. According to a statement by the company, Hungarian Trade Attaché Renáta Shiraishi arrived in Istanbul last week to hold the first talks on investment. Renáta Shiraishi, who met with Favori Kargo founder and Chairman Emin Yalvaç and company executives, held preliminary talks with possible investment partners.

This attack involves not only Hungary, but also all EU countries, the USA and Russia.

Giving information about the reasons for positioning Hungary as the European center, Emin Yalvaç said, “Our plan to invest in Hungary does not only include sales to the Hungarian market, but this attack includes exports to all EU countries, the USA and Russia. There are also free corporate zones in Hungary with special taxes and permits to improve the business climate. The corporate tax rate in the country has been lowered to the minimum in Central and Eastern Europe. The fact that the country is an EU member brings many conveniences for us. In addition, Hungary provides important convenience to Turkish businessmen regarding visa exemption and residence. This is the highest compromise that an EU (Schengen) country can make on a visa to a third country, according to the acquis of the European Union. The Hungarian government made this concession only for Turkey.”.

Yalvaç said, “As Favori Kargo, we provide solution partnerships to more than 300 customers of different scales in all processes including storage and advertising support with our large operation team. Thanks to our strategic partnership with all cargo companies, we stand out among our competitors. We operate with our own operation team in many Middle Eastern countries, especially in Iraq. In the upcoming period, our goal is to serve all of Europe in the global market in line with the demands of our customers.".

Positive discrimination towards Turkish investors

Hungarian Commercial Attaché Renáta Shiraishi, who came together with the central management offices in İkitelli and made examinations in many departments of the company under the guidance of Emin Yalvaç, said, 'Hungary supports Turkish investors with high incentives, low tax rates and a skilled workforce. Corporate tax is 9%. The country, which mobilizes all institutions from the Hungarian Eximbank to the Investment Support Agency to all investors in the world, has opened the doors to the Turkish investors by “positive discrimination” due to the genetic kinship relations with the Turks. We know the level and success of the Turkish transportation industry. In Hungary, we foresee joint investment in e-commerce and cargo transportation. "We are ready for a joint investment that will add value to both sides with the Turkish transportation sector, which has proven its success."

Stating that the positive commercial relations between the two countries are mainly fed by socio-cultural ties, Shiraishi said, “Hungary's central position in Europe is attractive to foreign investors who want to expand their European operations. The geographical location is very suitable for import and export businesses in terms of transportation and logistics. Our country has a highly developed logistics and telecommunication infrastructure. There are ready-made industrial sites, offices and many technoparks for investors. There is a good balance and quality in labor costs. I think that there is a friendly relationship between the two countries, and recent high-level political meetings provide us with a solid foundation to tighten our economic and commercial relations. Also, the socio-cultural ties between the two countries are very strong. ".