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Doing business in Turkey

doing business turkey

Turkey, with more than 26 million young and well-educated professionals, is a dynamic free-market economy. The country is one of the leading producers in the sectors of agriculture; textiles; automotive, construction materials; ships and other transportation equipment; consumer electronics and home appliances. Emerging middle-class entrepreneurs have brought dynamism to the economy and have expanded production beyond the traditional textiles and clothing sectors. Today, the automotive, construction, and electronics sectors are rising in importance and have exceeded textiles sector within Turkey’s export mix.

In addition to the largest cities of Turkey (Istanbul, Ankara and Izmir) newly emerging Anatolian cities, which are called “Anatolian tigers” (Denizli, Gaziantep, Kayseri, Bursa, Kocaeli and Kahramanmaraş) display impressive growth records since the 1980s. Turkey’s financial sector is considerably strong, mainly due to the reforms that followed the 2001 financial crisis, which left Turkish banks better leveraged.