22 May 2012Turkey’s economy ministry has completed a study of the target countries with which it plans to expand its trade activities in the coming period.
In compiling the list of countries in 2009, the ministry examined a slew of factors like political relations between Turkey and the country in question, the size of its market, transparency and openness, as well as Turkey’s export potential in the construction services, capital movements, trade and legal infrastructure of the countries, energy policies and investments.
For the 2010-2011 period, the ministry included factors like the global economic difficulties and the changing global economic, social and political atmosphere.
At the end of all the studies the ministry, alongside Economy Minister Zafer Çaðlayan, compiled a list of 17 target countries and 27 priority countries that might turn into target countries. Some countries were removed from the previous 2009 list given today’s existing global economic and social conditions.
As a result, Canada, Algeria, Jordan and Qatar were dropped a notch from target to priority with potential to become target country status, while countries like Indonesia, Iran, Kazakhstan, Ukraine and South Africa were chosen as new target countries.
The big surprises however were Japan, Georgia, Syria, Tunisia, Croatia, Kosovo, Senegal, Pakistan, Lebanon and Oman. Japan, which was not even considered a priority country in the last period, was promoted to target country status. Conversely, the rest of the above mentioned countries were removed from the priority country list all together, according to the ministry’s study.
The new priority countries were deemed to be Germany, Romania, Slovakia, Angola, Ethiopia, Singapore, Kuwait, Argentina and Colombia. Countries that maintained their status quo as target countries were the United States, China, Russia, India, Brazil, Poland, Nigeria, Egypt, Iran, Saudi Arabia, and Libya. The priority countries, which remained the same were similarly Mexico, Chile, Peru, South Korea, Malaysia, Vietnam, Turkmenistan, Azerbaijan, United Arab Emirates, Kenya, Ghana, Tanzania, and Sweden.
Firms that trade with countries that are labeled as “target countries” and “priority countries” will be given added government support based on a 10 to 20 point system with regard to trade activities and marketing.