Why Turkey?

Some Basic Facts About Turkey:
2005
2006
Population (million)
71.6
72.9
GNP at Current Prices, Billion USD
360.9
399.7
GNP Per Capita, USD
5,008
5,477
Real GNP Growth Rate
7.6
6.0
Inflation rate
5.3
11.7
Exports, FOB, Billion USD
73.5
85.3
Imports, CIF, Billion USD
116.8
137.4
Source: Turkish Statistical Institution (TURKSTAT)

Why Turkey

Reasons why you should consider doing business in Turkey

Large and Growing Domestic Market

Turkey offers a huge and dynamic domestic market with a population of more than 70 million people and a GNP of about USD 400 billion for 2006. The population is younger than that of other European countries; approximately 63% of the population is below the age of 35, implying an intense dynamism in the economy.

The average GNP per capita is USD 5,477 for 2006. However, this figure does not reflect the average purchasing power of the population, due to the uneven distribution of wealth in Turkey, in favour of the western part of the country.


Mature and Dynamic Private Sector

The rapidly changing economic environment of the last 20 years has formed the foundation for the Turkish private sector to mature in an increasingly competitive global arena.

The rapidly growing Turkish private sector has become truly globally competitive in many sectors. There is an appetite for international cooperation - not just to develop business in Turkey but in the many regional markets in which Turkey has traditionally been a favoured trading partner.


Geographical Location

Turkey enjoys a unique location bridging Europe and Asia. Turkey's proximity and traditional trading relationship with the emerging markets in the Middle East and Central Asia expands the potential market size for companies entering the Turkish market.

Turkey's linguistic, religious and cultural ties with the Turkic republics in the Central Asia and Caucasia have a special value and privilege. Turkey offers the unique opportunity of establishing a close economic cooperation with these countries and in providing technical expertise, investment and trade cooperation to help exploit their vast resources of oil, natural gas and precious metals.

Hence, Turkey stands as the perfect gateway for the foreign investors searching for business opportunities in the Balkans, Caucasia, the Middle East and Central Asia.

Furthermore, there is a considerable business volume in terms of trade with Russia and Black Sea countries.


Customs Union with the EU countries

Customs and duties along with any sort of quantitative restrictions over industrial goods and processed agricultural products traded between the EU States and Turkey do not exist. Trade policies, legislation, customs tariffs have been harmonised with EU regulations.


Well Developed Transportation and Banking Infrastructure

There are 33 airports in Turkey, 22 of which are open to international traffic and there are a number of sophisticated deep water ports around the country's 8,300kms coastline. In terms of trade finance, treasury operations, electronic banking, and information management, the top ten Turkish banks are as sophisticated as their OECD counterparts.


Openness to Foreign Investment

The Government of Turkey views foreign direct investment as vital to the country's economic development and prosperity. Accordingly, Turkey has one of the most liberal legal regimes for FDI in the OECD. There are no minimum capital or performance requirements for foreign capital and Turkish law guarantees the free transfer of profits, fees and royalties, and repatriation of capital.