Exporting to Turkey
Export opportunities for Spanish companies in Turkey
- Dynamic society with a significant percentage of young people.
- Economy dominated by the private sector.
- Important industrial base both for corporate holdings and medium/family companies.
- Key strategic position for developing other markets.
- Growing middle classes who demand new goods and services.
- Solid local financial system overseen by the financial authority and Central Bank.
- High current account deficit.
- Low rates of private saving and dependency on foreign funding.
- Lack of natural resources.
- Tax system with important collection of indirect taxes.
- There is no uniform distribution of income, leading to major social imbalances.
- The government has already made many investments in infrastructures and plans to expand them further.
- Right to transfer and repatriate in foreign currencies.
- Improved relations with the U.S.A. and the EU will impact the Turkish economic highly positively.
- Maintenance of growth at around 4% a year.
- High level of reserves at the Central Bank, tax deficit maintained at low levels.
- Maintenance of classification of rating agencies as Investment Grade.
- Strong activity of Turkish companies overseas, opening up to new markets.
Representative office in Turkey
Mete Cad. N 10 Daire 4
34437 Beyoglu – Istanbul
Manager: Vicente Balbín
Tel. (+90) 212 2497892 / 90
Form of government
Turkish lira (TRY)
1 euro = 2.96 Turkish lira (January 2014)
74 million (2013)
Banco Sabadell in Turkey
Banco Sabadell was a pioneer in Turkey, being the first Spanish bank to become established in the country in February 2006, thus culminating an activity developed over more than two decades. This long term vision and broad experience have won the recognition and respect of Turkish banks and the corporate sector. Thanks to this work and deep knowledge of the Turkish financial-economic system, it has become a point of reference for companies wishing to undertake business in the country, either via a physical presence and incorporating a local company or using contacts with its Turkish counterparts.
Banco Sabadell in Turkey:
- support for activities in the country via a customised service provided by a highly experienced local team.
- support in updated information on aspects of law, business and finance.
- development of commercial fairs and tenders in different sectors.
- assistance and transaction monitoring, projects and tenders.
- assistance in contacts with local Turkish companies.