Exporting to Turkey

Turkey. Republic of Turkey

Export opportunities for Spanish companies in Turkey

Strengths

  • 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.

Weaknesses

  • 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.

Investments

  • The government has already made many investments in infrastructures and plans to expand them further.
  • Right to transfer and repatriate in foreign currencies.

Outlook

  • 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.

 

Contact

Representative office in Turkey

Mete Cad. N 10 Daire 4

34437 Beyoglu – Istanbul

 

Contact details
Manager: Vicente Balbín
Tel. (+90) 212 2497892 / 90

 

Contact

Form of government

Parliamentary republic

Official language

Turkish

Currency

Turkish lira (TRY)

Exchange rate

1 euro = 2.96 Turkish lira (January 2014)

Religion

Islam (99%)

Population

74 million (2013)

Time difference

+1 hour

 

Banco Sabadell in Turkey

Sebnem Alp, Vicente Balbín (director) y Susan Irmak.

Sebnem Alp, Vicente Balbín (Manager) and Susan Irmak.

Experience

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.

Services

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.