R&D Expenditures Got More than 1% in the National Income for the First Time

Turkey's most comprehensive brand event International Ankara Brand Meetup, of which the opening ceremony took place with the participation of Minister of Industry and Technology Mustafa Varank, Minister of Environment and Urban Planning Murat Kurum, the governor of Ankara Vasip Şahin and the Chairman of Ankara Chamber of Commerce (ATO) Gürsel Baran, took place in 28-30 November 2019. Speaking at the opening of the organization, Minister of Industry and Technology Mustafa Varank pointed out that the share of R&D expenditures in national income exceeded 1 percent for the first time and stated that “While our total R&D expenditures increased by 29 percent compared to 2017, the private sector made the highest expenditure. The private sector's increasing tendency to R&D and innovation has brought our country closer to its target of growth under the leadership of value-added production.

Drawing attention to the fact that two factors are decisive in branding, Varank said, "R&D and design of the product. In a market where products are similar in terms of price, quality and performance, the key to creating an original identity is through the design. When we look at the successful global brands sold in almost all countries of the world, we see that they have branded with their own designs and have a voice in the market. " In addition, Varank stated that the R&D statistics for 2018 were announced by TÜİK, that the share of R&D expenditures in national income exceeded 1 percent for the first time, while total R&D expenditures increased by 29 percent compared to 2017 and also the highest expenditure was made by the private sector.

Explaining that almost one-third of total R & D expenditure has been undertaken in Ankara alone, Varank said that "We will make a significant leap forward in technology-based jobs in Turkey. Also, Ankara will be one of the most important centers of this leap. I'm sure of that."

Minister Varank stated that in trademark applications, it has been ranked first in Europe since 2011. Varank uttered that “In the last 17 years, international trademark applications originating from our country have increased approximately three and a half times. We rank 11th in the world in terms of total domestic Intellectual Property Rights data. Last year, we established the Intellectual Property Rights Valuation Company (TÜRKSMD) in order to determine the market value of the brands in an accurate and reliable way. Valuation of companies, patents, trademarks and designs will enable these assets to be commercialized and brought in to the industry more effectively."

Source/Credit: REPUBLIC OF TURKEY MINISTER OF INDUSTRY AND TECHNOLOGY