Business in Turkey, Istanbul

The objectives of the subject “Foreign Trade and Business in the Republic of Turkey” are the following:

1. To analyse the Turkish Economy and Foreign Trade (Import, Export, FDI)
2. To know the business opportunities in the Republic of Turkey
3. To explore the Turkish trade relations with the country of the student
4. To know the Turkish Free Trade Agreements (FTAs)
5. To examine the profile of the Turkish companies
6. To analyse the customs union between Turkey and the European Union and the Turkey-Africa Partnership
7. To develop a business plan for the Turkish market

1. Transport Corridor Europe-Caucasus-Asia (TRACECA)
2. Trans-Caspian Trade and Transit Corridor (Central Corridor)
3. Afghanistan-Turkmenistan-Azerbaijan-Georgia-Turkey Transport Corridor (Lapis Lazuli)
4. China-Central Asia-West Asia Economic Corridor
5. Islamabad-Tehran-Istanbul Rail and Road Corridor (ITI-ECO)
6. Pan-European Corridor IX (Finland-Russia-Greece)
7. Access to the International North-South Transport Corridor (India-Russia)
8. Access to the Eurasian Land Transport Initiative (Silk Road)
9. Transit and Transport Cooperation Agreement (Lapis Lazuli Route Agreement)
10. Iran-Pakistan-Turkey Transit Transport Framework Agreement (TTFA)

Turkish Preferential Access and Free Trade Agreements

1. Turkey and the Central Eurasian Economic Area
2. Economic Cooperation Organisation (ECO)
3. Black Sea Economic Cooperation (BSEC)
4. European Union-Turkey Customs Union
   1. EU Enlargement
   2. Euro-Mediterranean Partnership
   3. Black Sea Synergy
5. Turkey-Morocco Free Trade Agreement (FTA)
6. Turkey-Tunisia Free Trade Agreement (FTA)
7. Turkey-Egypt Free Trade Agreement (FTA)
8. Turkey-Serbia Free Trade Agreement
9. Turkey-Montenegro Free Trade Agreement
10. Turkey-Israel Free Trade Agreement
11. Turkey-Macedonia Free Trade Agreement
12. Turkey-Syria Free Trade Agreement
13. Turkey-Albania Free Trade Agreement
14. Turkey-Georgia Free Trade Agreement
15. Turkey-Palestine Free Trade Agreement
16. United Kingdom-Turkey Free Trade Agreement (FTA)
17. Turkey-Moldova Free Trade Agreement
18. Turkey-Mauritius Free Trade Agreement (FTA)
19. Turkey-Bosnia and Herzegovina Free Trade Agreement
20. Turkey-Singapore Free Trade Agreement (FTA)
21. European Free Trade Association (EFTA)-Turkey Free Trade Agreement (FTA)
22. Free Trade Agreements (FTA) with Jordan, Lebanon, Chile, South Korea.
    1. FTA not yet ratified: Lebanon, Malaysia, Kosovo, and Ghana.
23. Islamic Trade Preferential System (TPS-OIC)
24. Protocol Relating to Trade Negotiations Among Developing Countries (PTN)
25. Regional Cooperation Council (RCC)
26. Regional Organisation for Democracy and Economic Development (GUAM) (Observer)
27. Association of Caribbean States (ACS) (Observer)
28. Central American Integration System (SICA) (Observer)
29. Indian-Ocean Rim Association (IORA) (Dialogue Partner)
30. Shanghai Cooperation Organisation (SCO) (Dialogue Partner)

Trade Facilitation Programs

1. World Trade Organisation (WTO)
   1. WTO Agreement on Sanitary and Phytosanitary Measures (SPS)
   2. WTO General Agreement on Trade in Services (GATS)
   3. WTO Agreement on Technical Barriers to Trade (TBT)
   4. WTO Agreement on Preshipment Inspection (PSI)
   5. WTO Agreement on Safeguards (SG)
   6. WTO Trade Facilitation Agreement (TFA)
2. World Customs Organisation (WCO)
   1. Revised Kyoto Convention (RKC)
3. Convention concerning International Carriage by Rail (COTIF)
4. International Bureau of Containers and Intermodal Transport (BIC)
5. International Civil Aviation Organisation (ICAO, Chicago Convention)
6. International Maritime Organisation (IMO)
   1. Convention Relating to Temporary Admission (Istanbul Convention)
7. Customs Convention on Containers (CCC, UN)
8. Convention concerning International Carriage by Rail (COTIF)
9. Uniform Rules concerning the Contract of International Carriage of Goods by Rail (CIM, CIT)
10. Convention on the Contract for the International Carriage of Goods by Road (CMR, UN)
11. International Chamber of Shipping (ICS)
12. International Road Transport Union (IRU)
    1. TIR Convention
    2. Guidelines on Safe Load Securing for Road Transport

Islamic Organisations

1. Asian Development Bank (ADB)
2. Islamic Development Bank
3. Asia-Middle East Dialogue

Euro-Asian Trade and Economic Organisations

1. Economic Commission for Europe
2. European Investment Bank
3. Asia Cooperation Dialogue (ACD)
4. Organisation for Security and Cooperation in Europe (OSCE)

Global Organisations

1. United Nations (UN)
   1. Conference on Trade and Development (UNCTAD)
   2. International Trade Centre (INTRACEN)
   3. Commission on International Trade Law (UNCITRAL)
   4. World Intellectual Property Organisation (WIPO)
2. World Bank (WB)
3. International Monetary Fund (IMF)
4. African Development Bank (AfDB)
5. Organisation for Economic Cooperation and Development (OECD)
   1. OECD anti-corruption measures
6. Community of Portuguese Speaking Countries (observer country)

The Republic of Turkey

1. Turkey has a total population of 78 million people (24 million people are active)
2. Area of Turkey: 783,562.38 square kilometres
3. Turkish Capital: Ankara (5.1 million)
4. Turkish largest city: Istanbul (14.3 million)
5. Official language of Turkey: Turkish
6. Borders of Turkey: Bulgaria, Greece, Georgia, Armenia, Azerbaijan, Iran, Iraq, and Syria
7. Abolition of Slavery in Turkey: 1876

Religion in Turkey: Islam.

1. Fiqh (Islamic Jurisprudence): Fiqh-el-hanafi (Hanafi)

Turkey belongs to the Central Eurasian Economic Area (Turkic area, Islamic Civilisation).

Turkish Economy.

1. The economy of the Republic of Turkey has had a steady economic growth rate for the last twenty quarters
2. The Turkish gross national product and GNP per capita shows the strength of the Turkish economy as well as its integration into the global economy
3. The Republic of Turkey has made significant steps in restructuring Turkish financial sector, improving the public sector governance, and business environment
4. Turkish GDP: 800 billion USD
5. Average annual real GDP growth: 4.2%
6. 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, transportation, and logistics
7. Turkish manufacturing sector: 24% of the GDP
8. Turkey is the Sixteenth World's largest pharmaceutical product producer
9. The Turkish agriculture sector will be one of the top five world producers (2023)
10. Property (real estate) sector in Turkey: 4.6% of the Turkish GDP
11. A Global leader in dried figs, dried apricots, and hazelnuts production
12. Turkey is the Seventeenth largest car maker in the World
13. Turkey is the Seventh largest plastic producer in the World
14. 30 million tourists every year
15. Inflation in Turkey: 8%
16. Deep structural reforms
17. Universal Health Insurance
18. Health “free zones.”
19. Currency of Turkey: Turkish Lira (TRY)
20. Turkey is a EU candidate member

Turkish Foreign trade.

1. Turkey is a natural bridge between the Asian and the European Markets (Eurasian)
2. Total Turkish exports: 158 billion USD
3. Total Turkish imports: 242 billion USD
4. 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%)
5. Textiles and transport equipment are the main imports of the European Union from Turkey
6. The main import providers are Russia, China, Germany, the United States, Italy, Iran, India, and Spain
7. The main imports origin of the Republic of Turkey are the European Union (41%), Russia (14%), the People's Republic of China (8%), the United States (5%), Iran (4%) and Switzerland (3%)
8. The main European Union exports to Turkey are machinery, Transport material, and chemical products
9. Turkey has a Customs Union with the European Union
10. Access to the CIS and the Middle East markets
11. Access to the Eurasian Land Transport Initiative

Foreign direct investment (FDI) in Turkey.

1. Total FDI: 12.5 billion USD
2. Turkey is the thirteenth most attractive nation in the World for Foreign direct investment (FDI)
3. 41,397 foreign companies are established in the Republic of Turkey working in wholesale and retail trade, manufacturing, and property (real estate)
4. Textile production leads the manufacturing sector in foreign direct investment followed by chemicals and food and beverage products
5. Government body: Ministry of Investment Support and Promotion Agency (ISPAT)