Thinking of doing business in Turkey? Whether you are considering exporting or just setting up a small one man (or woman) band it pays to take advice and find out exactly what is entailed to operate in a foreign country.

Doing Business in Turkey?

The UK Foreign and Commonwealth Office has a range of information and tips if you are considering doing business in Turkey.

Their most recent guide, published on 22 August 2014, provides information on the risks of doing business in Turkey.

They identify nine separate areas in their guidance ranging from political and economic risk to the risk from organised crime and money laundering.

Key Stats

  • Turkey is the world’s 16th largest economy (and Europe’s 6th). It is forecast to be in the world’s top 10 by 2023.
  • Turkey has the youngest and fastest growing population in Europe (700,000 graduates per year).
  • Istanbul’s economy alone is larger than the collective economies of 12 EU countries.
  • Turkey will be the second fastest growing country in the World by 2018 (OECD figures).
  • Turkey is the world’s second largest contracting sector, after China.

There are a significant number of large business links between the UK and Turkey.

Over 2,500 UK companies are currently operating here including BP, Shell, Vodafone, Unilever (UK), BAE, HSBC, Aviva and Diageo.

Well-known retail chains, including TESCO, Harvey Nichols, M&S, and Laura Ashley also have significant operations in Turkey.

But even if you are a small fish in this big pond this guide will be of use to you.

Doing Business in Turkey Guide

The guide also links to further guidance, updates, reports and indicators.

You can find the Foreign and Commonwealth Office guide to Overseas Business Risk – Turkey guide here.

More Information About Trade and Investment Between Turkey and the UK

You can also find other useful information at the link here too

 

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