“Fast and growing” is how the Turkish market is described by Jim Fluker, Senior Commercial Officer of the United States Foreign Commercial Service. With a population of over 72 million and a growing middle class, Turkey is poised to be an ideal export market. The country is uniquely positioned between Eastern Europe and the Middle East, where the political climate is relatively mild in comparison to many of its neighbors.
Highlighting this opportunity are the progressive negotiations happening between Turkey and South Korea. Recently in the news, it was announced that these countries are sitting down to hammer out details of a bilateral trade agreement, with the objective of tripling the current trade volume of about $3.3 billion. Most importantly, these talks signify considerable openness to increasing global trade through trade agreements.
Industries ranging from automotive to medical are growing in Turkey as a result of improved infrastructure and standard of living. This is also reflected in the number of students from Turkey earning degrees from universities in the United States. In fact, there are more students enrolled in US Universities than any other country in Eastern Europe. This provides a climate that is both familiar with and congenial to American businesspeople.
Turkey presents a great opportunity for many companies across a wide range of industries who are seeking new export markets. The country is relatively safe and represents a great place to start if either Eastern Europe of the Middle East is part of one’s future export plans.