Doing Business in Turkey
EENI - Business School.
Subject (Course): International Trade and Business in Turkey. Istanbul
- Introduction to the Republic of Turkey.
- Turkish economy.
- Doing Business in Istanbul and Ankara
- The main sectors of the Turkish economy
- International Trade of Turkey
- Foreign Direct Investment (FDI) in Turkey
- Establishing a Business in Turkey
- Special Investment Zones
- Case Study: Koç Holding
- The European Union-Turkey Customs Union.
- Africa-Turkey Partnership
- Access to the Turkish market
- Business Plan for Turkey
Objectives of the subject “Doing Business in the Republic of Turkey”:
- To analyse the Turkish economy and foreign trade
- To evaluate business opportunities in the Republic of Turkey
- To explore Turkey's trade relations with the student's country
- To know Turkey's Free Trade Agreements (FTAs)
- To examine the profile of Turkish companies
- To analyse the customs union between Turkey and the European Union and the association Turkey-Africa
- To develop a business plan for the Turkish market
Sample of the subject (Doing Business in Turkey):
Subject Description (Doing Business in Turkey).
The Republic of Turkey.
Turkey is the sixteenth world largest Economy.
- Turkey has a total population of 78 millions of people (24 millions of people are active).
- Area: 783,562.38 square kilometres
- Capital: Ankara (5.1 million)
- The largest city: Istanbul (14.3 million)
- The official language: Turkish
- Borders of Turkey: Bulgaria, Greece, Georgia, Armenia, Azerbaijan, Iran, Iraq, and Syria.
- Turkey belongs to the Turkic area of the Islamic
- Abolition of slavery in Turkey:
Religion in Turkey: Islam.
- Fiqh (Islamic Jurisprudence): Fiqh-el-hanafi (Hanafi)
Turkey belongs to the Central Eurasian Economic Area of the Islamic Civilisation.
- The economy of the Republic of Turkey has had a steady Economic growth rate for the last twenty quarters.
- The gross national product and GNP per capita shows the strength of the Turkish economy as well as its integration
into the global economy.
- The Republic of Turkey has made significant steps in restructuring the Turkish
financial sector, improving public sector governance, and mainly the business environment.
- Turkish GDP: 800 billion USD
- The average annual real GDP growth: 4.2%
- The main sectors of the Turkish economy are agriculture and food, automotive, Business Services, chemicals, electronics, energy and renewable, Financial Services, Healthcare and Pharmaceuticals, Information and communication technologies (ICT), Infrastructure, Machinery, manufacturing, mining, property (real estate), tourism, transport, and logistics.
- Turkish manufacturing sector: 24% of GDP
- Sixteenth world largest producer of pharmaceutical products
- Turkish agriculture sector will be one of the top five world producers (2023)
- Property (real estate) sector in Turkey: 4,6% of Turkish GDP
- A Global leader in the production of dried figs, dried apricots, and hazelnuts
- Seventeenth largest car maker in the World
- Seventh largest producer of plastics in the World
- 30 million tourists every year
- The inflation: 8%
- Deep structural reforms
- Universal Health Insurance
- Health “free zones.”
- Currency: Turkish Lira (TRY)
Turkish Foreign trade.
- Turkey is a natural bridge between the Asian and European Markets (Eurasian)
- The total Turkish exports: 158 billion USD
- The total imports: 242 billion USD
- The main Turkish exports markets
are the European Union (56%), Russia (4%), the United States (4%), Romania (3%), the United Arab Emirates (3%), and Iraq (3%).
- Textiles and transport equipment are the main imports of the European Union from Turkey.
- The main import providers: Russia, China, Germany, the United States, Italy, Iran, India, and Spain
- The main imports origin of the Republic of Turkey is the European Union (41%), Russia (14%), the People's Republic of China
(8%), the United States (5%), Iran (4%) and Switzerland (3%).
- The main European Union exports to Turkey: machinery, transport material, and chemical products.
- Access to the CIS and the Middle East markets
- The Customs Union with the European Union
Foreign direct investment (FDI) in Turkey.
- The total FDI: 12.5 billion USD
- Turkey is the thirteenth most attractive nation in the World for Foreign Direct Investment
- 41,397 foreign companies are established in the Republic of Turkey working
in wholesale and retail trade, manufacturing, and property (real estate)
- Textile production leads the manufacturing
sector in foreign direct investment followed by chemicals and food and beverage products.
- The Government body: Ministry Investment Support and Promotion Agency (ISPAT)
Turkey's Free Trade Agreements (FTA) and Organisations
Turkey has signed Free Trade Agreements (FTA) with the European Free Trade Association (EFTA - Iceland, Norway, Switzerland, and Lichtenstein), Israel, Macedonia, Croatia, Bosnia-Herzegovina, Tunisia, Morocco, the Palestinian Authority, Syria (pending), Egypt, Jordan, Georgia, Lebanon, Montenegro, Serbia, Chile, Mauritius, South Korea, and Albania.
FTA not yet ratified by Lebanon, Malaysia, Kosovo, Moldova, and Ghana.
- Black Sea Economic Cooperation (BSEC)
- Commonwealth of Independent States (CIS)
- Economic Cooperation Organisation (ECO)
- Turkey-Chile Free Trade Agreement (FTA)
- Cooperation Council of Turkic
Speaking States (Turkic Council)/Türk Dili Konuşan Ülkeler İşbirliği
Konseyi (Türk Konseyi - TDİK)
- European Union-Turkey Customs Union
- Trade Preferential System among the Member States of the Organisation of Islamic Cooperation (TPS-OIC)
- Arab League
The Free Trade Agreement Turkey-Jordan
Agreement Turkey-South Korea