Turkey is situated at the crossroads of Europe and Asia, making it a natural bridge between the two continents. This strategic location allows access to markets in both Europe and Asia, making it an ideal hub for trade. It has a population of over 82 million people, making it one of the largest markets in the region. This large domestic market provides opportunities for foreign companies to sell their products, as well as for Turkish companies to expand their businesses.
Turkey has a rapidly growing economy, with an average annual growth rate of over 5% in recent years. This growth is driven by a young and educated workforce, a large and growing middle class, and a focus on innovation and technology.
Turkey also has a customs union agreement with the European Union (EU), which allows for the free movement of goods between Turkey and EU member states. This makes it easier and more cost-effective for companies to trade with both Turkey and the EU. There is also a range of investment incentives to foreign companies, including tax breaks, subsidies, and free land. These incentives make it an attractive destination for foreign investors looking to set up operations in the country.
So why are so many products being imported from Turkey?
Competitive prices: Turkey has a lower cost of production compared to many other countries, which makes its products more affordable for importers.
High-quality products: Turkish products are known for their quality and craftsmanship, which is why many importers choose to source products from Turkey.
Diversified product range: Turkey offers a wide range of products across various industries, including textiles, electronics, machinery, and food, among others.
Overall, Turkey's competitive prices, high-quality products, diversified product range, strategic location, and favorable trade agreements make it a popular destination for importing goods.