Business in Turkey

Businesses wishing to operate or do business in Turkey must consider numerous issues, from corruption to cultural practices. Despite these considerations, Turkey is strategically positioned at the crossroads to Europe, Asia, and the Middle East. According to the U.S. Department of Commerce, "Aside from its location as the bridge between East and West, Turkey's complex mix of modern industry and commerce continues to attract a diverse set of companies ranging from mining to high technology to energy" (Country, 2008, p. 1). With a market of more than 68 million people, Turkey is one of the key trading partners of the European Union (EU), and the U.S. is Turkey's fourth largest trading partner with 2007 exports to Turkey at $6.4 billion (Business, 2008).

A number of reforms have been undertaken in Turkey to align policies and standards with those of the EU, to remove entry barriers for international firms along with increased privatization, and to develop human capital. Many of these reforms have stemmed from the collaborative efforts of MENA nations (the nations of the Middle East and North Africa), which have been characterized by Shachmurove (2006) as troubled by "lengthy bureaucratic procedures, unclear regulations, corruption, and a heavy reliance on oil exports" (p. 1). These particular problems are further seen as posing significant obstacles to both economic development at the levels of the nation-state and the region and the integration of the reg

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and some 20 percent of its population lives below the poverty line (Turkey, 2008). However, Cam (2002) argues that neoliberal reforms have benefitted workers in Turkey who seek "temporary employment," and that unionization has declined while employment prospects have deteriorated and employees' earning diminished in real terms (p. 89). The end result in the view of Cam (2002) is that Turkey is an excellent "locus for capital investment" (p. 90). Turkey's government has also emphasized information and communication technologies as a means of developing human capital. For example, Turkey is aggressively moving secondary and tertiary level students into technology fields and creating new university level opportunities for these students as part of its overall effort to strengthen its labor pool. Human capital is one area Turkey must continue to develop to enhance its competitive position for foreign investors and businesses. What is clearly needed in Turkey and elsewhere in MENA is renewed attention to education as the basic foundation on which all forms of human capital are developed. Cam (2002) noted that the "neoliberal economic policies" favored by the IMF and World Bank have had an "adverse impact" on human capit

Category: Business - B