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Turkish business

Commerce and Investment in Turkey
Turkey trades with many countries around the world. Foreign investments in Turkey, are on the rise in the last few years, especially, since the government openly start supporting a free open trade, young population, excellent location, thus, making Turkey one of the attractive markets for investors. Turkey is a leading international player in the world markets in textile, transportation food and more.

The big cities in Turkey are like many big cities around the world. Old and new, with modern infrastructure. The division of Turkey over two continents (Asia and Europe), brings forth, a unique way of living. Many Turkey see themselves Europeans, and Turkish patriots.

Turkey Industry and commerce
Turkey is between the leading countries in the world in the textile production, and fashion. In Turkey has big banking services. It has car industry, that manufacturer cars from world leading companies, and electronics. Turkey's leather industry is well known world wide, for its quality and styles, and is one of the world's leading manufacturers. By the same token, the Turkish carpet industry, is also known for its quality, and long tradition.
Turkey is also, a big peanuts, figs, apricot producers, and between the lead in the world in the production of fresh vegetables, grapes, tobacco, cotton.


Investing in Turkey - important Points:

Unique Geographical Location - Turkey is situates between East and West, location that opens up a door between Asia and the Middle East, to Europe, and the other way around.

Fast Growth
In spit of fast political changes in Turkey, the growth average in the last few years, is 6%, an indicator that shows a dynamic economy. The Turkish economy is one of the fastest growing economies in the world. The World Trade Organization, ranked the Turkish economy as one of the world's 20th most dynamic countries in world trade.

Big Market
The Turkish market is a market of over 70 million potential shoppers, and growing, with a fast increase in consumption of goods and many other products.

Low Cost Professional Work Force
The Turkish workers are well known around the world. This work force is low cost, highly educated and professional. It is also versatile and well adapted to many types of work.

International standards
The country has the most advanced standards, in the world. They use the American and European standards, in many of the industries.

Turkey Energy Sources
Turkey is rich in oil from the Caspian sea, and natural gas fields in central Asia. These are the future's energy resources.

Advanced Communication
The Turkish communication industry, develops and advances rapidly. In Turkey there are few cellular companies, in a fast growing local market.

Turkish Business Conduct

Setting an Appointment
A letter with the company's/business profile, before the meeting, can help
you a lot during the meeting.

Do not be late to the meeting. Especially in the big cities, you can expect
heavy traffic. Thus, you most allocate enough time to get to your meeting!

Do not expect to talk about business head on, with a Turkish business
person. You will need to have “small talk” with your counterpart, in which he/
she will get to know you.

Know that high executives do not come to work before 09:30 - 10:00, they usually come back from lunch around 14:30.
January, July and August, are months where many business persons go on long holidays, thus it is harder to set meetings then.

Negotiation
What need to be done before the meeting - Have enough business cards (They do not need to be in Turkish). Give then to who ever you meet. Give the receptionist your card. He/she will most likely keep it. Give another card to the person you meet.

Drinking tea and cafe in meeting, is a very common thing. You should not decline when you are offered a drink. It is very rude, and can hurt the meeting. The Turks are known for their hospitality. Remember, negotiation in Turkey is very slow, and it may last over many cups of tea and cafe. The meeting starts with small talk and many questions, questions that seam irrelevant to the meeting. Go with the flow, do not go straight to business!

In a family business, the decision making is done usually by the elder founder/s of the business. A personal connection must be established before any negotiations can take place.

Remember elder people in Turkey are respectable and it is a mistake to shout and bad mouth an elder!
It is customary to shack hands when meeting a man or woman in Turkey. Turks might welcome a friend with a double hand shack or kissing on both chicks. When you are introduced to a group of people, always shack to elder's hand first.

The traditional Turkish greetings are: Merhaba (hello), Nasilsiniz? (How are you?). The response to the last is “yiyim teshekur ederim” (I'm well. Thank you). Any attempt by you to talk in Turkish, will be welcomed by your host.
When sitting down, make sure your shows soles are placed on the floor. It is rude and insulting to show them.

Placing one's hands across one's chest is rude
Keep your hands out of your pockets
Do not clean your nose in public, especially in restaurants. If you have to, divert your head aside, and clean your nose as quietly as possible.
The Turks nods their heads for yes, but for no, they have 2 ways: Lifting one's eyebrows, when sometimes there is a sound added to that; and tilting of the head backwards.
To get one's attention, the Turks wave their hand in an up/down motion. “Follow me” is done by banding of the hand. It is rude to point a finger at someone.

Topics of Conversation
Hobbies and personal interest, are good topics.
International non disputable topics (Do not to about the Kurds).
Asking a Turkish father about his family, is always good. A Turkish father is happy to talk about his kids.

Do not talk about
Do not take sides in the Turkish politics
Do not partake with the Greeks, in regarding to the Turkish - Greek conflict.
Do not talk about religion things.
Do not show support to any of the big Turkish football teams (Galatasariö Beşiktaşö Fenerbahçe).

 

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