Market Opportunities in Turkey May 27, 2009. Turkey and its Neighbors.
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Transcript of Market Opportunities in Turkey May 27, 2009. Turkey and its Neighbors.
Market Opportunities in TurkeyMay 27, 2009
Turkey and its Neighbors
Turkey’s Key Cities• Istanbul – pop. 13,000,000
Business, financial, cultural centerHandles 55% of Turkey’s imports & exports
• Ankara – pop. 4,500,000Center of GovernmentKey to defense, energy, agribusiness
• Izmir – pop. 4,000,000Turkey’s Second largest portThriving free zone
Turkey Facts
• Population 74 million• Median age 27.7 • Parliamentary Democracy• Charter member of NATO• Member of EU Customs Union
since 1996• Key Partner of U.S. in
Afghanistan, Iraq and elsewhere
Economy of Turkey 2008
• GDP: $730 billion• Per Capita Income: $10,000• GDP Growth Rate: 1.5%• Inflation: 10.2%• Unemployment: 13.6% • Total Imports: $ 193.7
billion • Total Exports: $140.7billion
Investment
Major Sectors• Energy• Gas & Water Supply• Financial• Wholesale/Retail Trade• Construction• Manufacturing
Source: Moody’s
Major Trading Partners 2008• Russia 13.3%• Germany 9.3• Italy 5.6 • China 5.1• U.S.A 4.9• France 4.7
• EU(27) 40.0%
The U.S. and Turkey
•Exports to Turkey: $10.4 billion in 2008
•Imports from Turkey: $4.6 billion
•Direct Investment from U.S.: $6 billion (cumulative)
Top U.S. Exports to Turkey
• Steelmaking materials• Civilian aircraft• Fuel oil• Raw cotton• Metallurgical grade coal• Parts for military type goods• Organic chemicals• Plastic materials
Source: U.S. Census Bureau
Turkish Exports to the U.S.
• Semi-finished iron and steel mill products • Apparel and household goods-cotton• Stone, sand, cement, and lime• Other petroleum products• Jewelry (watches, rings, etc)• Apparel and other textiles• Synthetic cloth and fabrics• Finished metal shapes and advanced
manufacture, except steel• Drilling and oil field equipment and platforms
Source: U.S. Census Bureau
• Average Tariff on Industrial Goods: 5 %• Customs Union with the European Union• Strategic Location for Regional Markets• Developing Infrastructure• Educated Workforce & Young Population• 100% Ownership Allowed• Strategic U.S. Ally and Partner
Advantages of Doing Business with Turkey
Keys to Success
• Choose Partners Carefully : Research & Due Diligence•Know & Mitigate Risks•Find Reliable, Experienced Professional
Assistance•Translate Materials; get the best translators/interpreters•Build Relationships•Identify Financing Options
Trade Mission to Turkey
Nov. 8-13, 2009
URL:html://getexportassistance.com/
market.html
Commercial Service Turkey
Ankara:James Fluker, Senior Commercial [email protected] Bruns, Commercial [email protected]
Istanbul:Gregory Taevs, Principal Commercial [email protected]