Trade & Investment

Turkey has spent the last decade trying to maximise the potential of its geographical position to fuel export-led growth. While this has been hampered by a heavy dependence on imports, especially hydrocarbons, and a bulging current account deficit, the country has made great strides in increasing trade volumes and diversifying markets. With strong domestic growth and a sense of economic stability following the difficulties of the 1990s and the 2001 banking crisis, the country has been able to radically transform the investment environment, garnering record foreign direct investment in the last 10 years. The coming year is likely to see Turkey’s trade deficit shrink as a number of factors converge to boost exports.

This chapter contains an interview with Richard Moore, UK Ambassador to Turkey, and a viewpoint from Dr Jim Yong Kim, President, World Bank Group.