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BUSINESS & ECONOMY
ECONOMIC AND TRADE OPPORTUNITIES
With a young and dynamic population, rich natural resources and an increasingly industrialized private sector, Turkey has pursued steady development and growth as it expands its role in the global marketplace. To this end, Turkey is implementing an ambitious structural reform and economic stabilization program with the support of the International Monetary Fund and other international financial institutions. Numerous legislative changes in recent years have paved the way for broader global integration and have significantly eased access by foreign investors to Turkish markets.
This progressive economic agenda has produced results. Turkey's Gross National Product grew 9.9 percent in 2004, a reflection of the dramatic recovery the economy experienced since 2001. Inflation declined, falling from 70 percent to single
digits in 2004 for the first time in three decades. And the New Turkish Lira was introduced in January 2005, ending a period of inflated currency.
Designated by the U.S. Commerce Department as one of the world's ten Big Emerging Markets, Turkey exported $5 billion worth of goods and imported $3.3 billion from the U.S. in 2004. A Trade and Investment Framework Agreement has facilitated commercial relations since 1999, and a U.S.-Turkey Economic Partnership Commission was established in 2002 to enhance
trade, increase investment flows, and support the successful implementation of Turkey's economic reform program.
Turkey's proximity to emerging markets in the Middle East and Central Asia creates unique opportunities for investors and companies. The presence of over 4,000 foreign capital establishments in Turkey, including 104 Fortune 500 companies, confirms Turkey's standing as a prime investment location.
Click here to read more about Turkish economy.
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As the Honorary Turkish Consul General for Georgia, it is my duty and pleasure to promote Turkey to the citizens of the United States and to encourage educational, economic, cultural, touristic and humanitarian relationships between the United States and the Republic of Turkey.
Mona Tekin Diamond
Turkish Honorary Consul General for Georgia
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