With economic activity in Turkey traditionally centred on the north-western provinces around Istanbul, along with the Izmir and Ankara urban areas, successive governments have attempted to incentivise businesses to establish themselves in other, less-developed regions. Since the 1960s, a key part of this strategy has been the creation of a variety...
Privatisation has been on the agenda for years, with sales of major state-owned industries in the late 1990s and early 2000s defining the country’s commitment to free markets. The trend hit a high-water mark in 2005-06, when the government accrued a total of $16.3bn in revenues from the sale of Türk Telekom, the refinery company Tüpraş and steel...
Long-time aspirations to become an energy corridor are now within Turkey’s grasp. A raft of pipeline projects and a grand canal have been proposed, with hopes these projects will be under way soon. Turkey’s location between the hydrocarbons-rich Middle East and Eurasian regions and energy-hungry Western markets makes it a key player in energy trade...
From Ottoman textiles to high-tech weapons systems, Turkey has a long history of industrial activity. The challenge now is reducing the trade imbalance while maintaining impressive growth. Booming domestic demand and record exports increased industrial production in Turkey by almost 9% in 2011, powering economic growth that was second only to China...
With production expanding, heightened foreign interest and a new push to build a domestic car brand, the automotive sector in Turkey is currently experiencing a surge in output. This comes as the country has established itself as a natural base for supplying both European and Middle Eastern markets, with the sector’s contributions to exports being...
With so many proposed supply routes on the drawing board and its position as a key transit route secure, Turkey waits to see who will pull the trigger first. When it comes to hydrocarbons, geography is destiny. Despite its limited domestic supplies, the adage also rings true for Turkey. With some of the world’s largest oil and natural gas reserves...
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