Turkey is the world’s 16th largest economy with 8.9% GDP growth in 2010. The financial services sector is still in the development stage and ready for further expansion: according to the Turkish Banking Regulation and Supervision Agency (BRSA), as of 2009, the asset size of the Turkish financial sector increased by 12% compared to the previous year.
Istanbul as a financial centre
The Turkish government is working to improve the Turkish tax system, legal and fiscal environment, political and economic stability and regulatory framework in order to attract financial investments. Work on the ‘Istanbul Financial Center Project’ is underway to transform Istanbul into a regional financial centre within ten years and a global centre within a few decades. Links with London and the UK are seen as crucial to the project’s success.
The UK-Turkey CEO Forum, in its Finance Working Group Report, identified as its primary focus the development of Istanbul as a new International Finance Center leveraging British knowhow and expertise.
Turkey Market Advisory Group
The review of our international strategy in 2011 identified Turkey as a key market of focus, with high growth prospects for the next 10-15 years. Our Market Advisory Group will develop a deep understanding of business needs in Turkey, while working alongside government to build key strategic partnerships in the region.
To get involved in our Turkey Market Advisory Group, or find out more about our promotional activity in Turkey, please contact email@example.com.
Turkey monthly economic reports
We produce monthly economic updates on Turkey in association with Oxford Economics. Follow this link to download the latest report.
A detailed list of our upcoming Turkey-focused events is available here.