Turkey

Turkey is a huge country both in terms of size and business opportunities for entrepreneurs seeking markets with higher growth, lower cost and a better-educated workforce.

The country is a quarter of the size of the EU in terms of area with a population one-fifth that of the EU. This gives an immense economic potential and puts it among the top 25 economies in the world in terms of GDP. Its geographical location at the crossroads between Europe and Asia and its increasingly strategic economic, political and historical ties with the surrounding regions add further value to this economic potential, producing diverse market opportunities for investors.

As a result of the determined implementation of a sound economic programme, economic data for the past year has been pointing to a new era of expansion driven by investment growth. Accompanying productivity gains are convincingly high enough to sustain a higher potential growth rate in the next decade.

The pro-business approach that prevails in Turkey 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 in Turkey has been adopted and implemented for two years. 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.