MY MARKET

• ISTANBUL The business heart of Turkey, with offi cial support to develop as a regional fi nancial centre. A retail hub and springboard to the rest of Turkey and beyond.

Turkey

FAST FACTS • UK-Turkey bilateral trade rose 40 per cent between 2009-2011

• Turkey is the world’s 16th-largest economy and Europe’s sixth largest

• It is predicted that Turkey will be among the world’s top 10 economies by 2050

• Turkey has the youngest and fastest-growing population in Europe

important, but for Turks the relationship with business partners is paramount. Often, the fi rst thing they want to do

is talk about you, to fi nd out about your background and experience and whether you will be a reliable partner who will take their call on a weekend if something urgent comes up. Investing in and maintaining that relationship, especially during quiet times between deals, is crucial. Researching business practices is

also important and the UK Trade & Investment teams in Turkey and the UK, as well as accounting or legal services professionals, can help. If you take prudent, practical steps at the beginning, you will not go far wrong.

• Istanbul’s economy is larger than those of 12 EU countries

• Turkey has the world’s second-largest construction and contracting sector

My memories of my time here are rich

and varied, from battling our way through technical issues of pricing, customs and taxation regulations to the sheer joy when a company fi nds a partner and starts doing business. One high point was when Rolls-Royce signed a multi-million dollar deal to sell engines to Turkish Airlines. This coincided with Turkish Airlines sponsoring Manchester United and gave the UK a really high profi le. Indeed, everything seems to be

going our way at the moment. UK- Turkish relationships have never been stronger. There are unmissable market opportunities and we want even more UK businesses to come to Turkey. ■

• ANKARA Turkey’s capital city, and its legislative and regulatory centre. Key for businesses where pricing, taxation and certifi cation (e.g. health,) are important. Also home for defence equipment exporters and anyone wishing to bid for Turkey’s many major infrastructure projects.

• IZMIR Formerly Smyrna, Izmir is a bustling port city on Turkey’s south-west Mediterranean coast with plenty of growth potential and great ambitions. There are opportunities in areas such as port development, operation and maritime services; vocational language teaching; fi nancial, legal and business services; acquaculture and textile production.

• GAZIANTEP A centre of rising business infl uence in south-eastern Turkey. A lively city with great (and spicy) food and home to the new business generation known as the Anatolian Tigers, dealing in everything from fruit, vegetables and nuts to engineering and construction.

LET’S DO BUSINESS TO LEARN more about Turkey,

contact Akoto Agyeman on 020 7215 4741 or email akoto.agyeman@ukti.gsi.gov.uk

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