COUNTRY FOCUS

SECTOR SPECIFICS

• Energy and renewables: with demand for energy growing by 6-8 per cent each year in Turkey, there is a major requirement for overseas investment. The country’s new nuclear programme offers opportunities for UK companies and renewable energy is gaining in importance.

Straddling Europe and Asia, Turkey is a thriving market that can act as a link to business beyond its borders, writes Janet Tibble

Bridging the T

urkey is predicted to be the world’s next trillion-dollar economy following a threefold increase in GDP since 2002. Its growing population, currently around 74m, has an average age of 30, compared with 45 in Europe, and there is a rapidly expanding middle class which is both connected and sophisticated. In addition, Turkey, and in particular Istanbul, is being positioned as a gateway to the less known but notable surrounding countries in the South Caucasus and Central Asia. Indeed, UK Trade & Investment has expanded its team in Istanbul to help support British business in those markets.

26 | springboard | www.ukti.gov.uk

“We regard Turkey as a launch pad for businesses across the region,” explains Leigh Turner, HM Consul-General Istanbul and Director-General of UK Trade & Investment for Turkey, Central Asia and South Caucasus. “Istanbul has a dense network of air links with Turkish Airlines flying to more countries than any other airline around the world. From here we are able to help UK businesses that want to work with Turkish companies in key markets such as Central Asia, the South Caucasus, Libya, northern Iraq and Egypt.”

Market research by UK Trade & Investment suggests that there are good opportunities