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Turkey.. A Country coming very strong in a world of competition

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The fierce competition among the economies of the world  is getting tougher every day. In fact so tough that it has swept some important countries into a state of despair and made them dependent on the financial aid to come from EU. The whole of Europe prayed God for other countries not to follow as its could be an end of a legend, namelt European Union.

Turkey which has not been shown the green light to enter EU so far on the other hand has managed to survive the deadly global crisis and stood on its feet with its chin up, to the great surprise of many experts (!) in the economy arena.

The whole thing was not a wonder in reality as the country enjoyed the advantage of being ruled by a single party administration during the crisis. An administration very ambitious and hard working one must admit. Owing to this “very important” fact on top of the below advantages possessed by the country, Turkey has now become a most attractive spot for multinational groups and entrepreneurs to invest their money in.

Referring to the natural advantages Turkey has, it is located at a very important position within the European Union, Central Asia and the Middle East axis and a role model for other countries in the region, to start of with.

The country is a very important trade partner of all countries in the region and has partnerships with such countries on political and humanitarian issues, while it functions as a bridge between the East and the West.

Turkey’s geo-strategic importance does not only originate from its location at the heart of an unstable region but also its position as an intersection point of economically strong hubs and an energy-rich zone.

Turkey drawing attention with its growing economy and with strategic benefits will continue to play an important role in development of dialogue and cooperation between said regions.

In this context, one of the country’s biggest advantages is its young population and obviously provided Turkey can put this energy into action, then it will be utilizing its resources to the full.

On the other hand the current administration has paid back its debts to IMF and the Central Bank has a huge foreign exchange reserve. The budget deficit has been under control for a while and the government is certainly working on the foreign trade deficit issue.

And last but not the least, “peace process as it is called may bring Turkey an even brighter future picture, in terms of economy as a huge amount of money spent on military and security spendings will be saved for other infrastructure and industry investments. Moreover, the entrepreneurs who have been scared of investing in the South East of Turkey due to the terrorist acts, will now be able to put their money in the region which will upgrade the socio-economic standards of the place.

To recap, the future looks bright for Turkey and its importance should be expected to further increase.

30.04.
Editor, BTT

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