Turkey

Turkey enjoys a very special location at the crossroads between east and west, spanning both Europe and Asia. Its proximity to emerging markets in Middle East and Central Asia creates unique business opportunities. It also has a huge domestic market – a population of 63 million with increasing consumer purchasing power. And as a fast-developing economy, growth is outstripping Organisation of Economic Co-operation and Development averages while trade volumes are also growing robustly. According to the International Monetary Fund, it is estimated to have grown by more than 10% in 2004.

This is a result of the determined implementation of a sound economic programme. Accompanying productivity gains are convincingly high enough to sustain a higher potential growth rate in the next decade. The pro-business approach that prevails is based on the fact that business opportunities alone are not good enough unless they are accessible to entrepreneurs. Thus, a comprehensive reform programme to improve the business environment has been adopted and implemented. Early results, such as simplified procedures for setting up businesses and new FDI legislation, are strong indicators of the change in the way business is done.

The experience of more than 4000 foreign-invested businesses – including more than 100 of the Fortune Top 500 companies – confirms Turkey as a predominant investment location.