Turkey's Market

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About Turkey

Turkey is located in the south eastern Europe and south western Asia, bordering the Black Sea, between Bulgaria and Georgia, and bordering the Aegean Sea and the Mediterranean Sea, between Greece and Syria.

Turkey has been prominent as a center of commerce because of its land connections to three continents and the sea surrounding it on three sides.

Turkish is the sole official language throughout Turkey. The capital city of Turkey is Ankara. The biggest city, Istanbul is the financial, economic and cultural heart of the country. By the end of 2010, the population of Turkey is around 73.72 million and its area is 783,562.38 km².

Turkey's Economy

The Turkish economy has shown remarkable performance with its steady growth over the last eight years. A sound macroeconomic strategy in combination with prudent fiscal policies and major structural reforms in effect since 2002, has integrated the Turkish economy into the globalized world, while transforming the country into one of the major recipients of FDI in its region.

Its diversified economy, proximity to Europe, Middle East, North Africa and Eurasia, integration with European markets, young and vibrant work force, crisis experienced businessmen and economy management makes Turkey one of the most powerful economies in the region.

Being the commercial center of Southeastern Europe, Middle East and Eurasia, Turkey is becoming an increasingly important economic and diplomatic country in the region.

Advantages of Doing Business in Turkey

Turkey is a country offering significant opportunities for foreign investors with its geographically perfect position to function as a gateway between Europe, Middle East and Central Asia. The opportunities exist not only in the dynamic domestic market, but also throughout the region.

Reasons to invest in Turkey:

• Large and growing domestic market
• Mature and dynamic private sector
• Leading role in the region
• Liberal and secure investment environment
• Supply of high quality and cost-effective labor force
• Customs union with EU countries
• Developed infrastructure
• Institutionalized economy
• Competitive tax system
• An important energy terminal and corridor in Europe connecting the East and West

Turkey's Investment Environment

The cumulative sector breakdown of foreign capital financed companies between 1954-2010 shows that 30% of these companies operate in wholesale and retail sectors; 17% of them operate in manufacturing sector and 16% of them operate in real estate, renting and business activities sectors. Construction (9%); transport, storage and communications (9%); hotels and restaurants (7%); other community, social and personal service activities (5%); mining and quarrying activities (2%); agriculture, hunting, fishing and forestry (2%) and electricity, gas and water supply (2%) constitute other sectors.

References
1. Invest in Turkey - www.invest.gov.tr
2. Foreign Economic Relations Board - www.turkey-now.org
3. International Investors Assosication (YASED) - www.yased.org.tr

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