Business Leaders – Turkey

In the article it is spoken about Business Leaders – Turkey. Turkey has long been thought of as the cross roads to Eurasia. However, this has been important not only in geography, but in the field of international business and the world economy. Many people have been able to become employed and use their skills locally thanks to the many different international businesses and large economy of Turkey.

Business Leaders - Turkey

Turkey’s government is unique in the fact that it is both a republic and a parliamentary democracy. This means that while it is a republic, offering freedom, it is ruled by people in a parliament who were voted into power. Turkey has become quite technologically advanced, with traditional commerce and agricultural growth being factored in. This has led the country to not only become a much more diverse power, but also to be able to weather any type of economic storm.

The single largest sector that Turkey currently has is textiles. This sector alone accounts for over one third of the available industrial jobs. This is great for people who are not highly skilled and are looking for a job in Turkey. The automotive and electronics industries are gaining more and more ground in the Turkish economy. This is due to the demand for affordable and well built electronics and automobiles, something that Turkey can produce quickly and efficiently.

Currently Turkey is having some trouble within its own economy. Due to the recent economic problems worldwide, Turkey has a high debt load and may have some difficulty in recovering. Turkey is also pending to become a member of the European Union which may assist it with some of the economic problems that it is encountering. Turkey has a high current account deficit, which is making some investors a little bit skittish. However, with time and energy, the government should be able to stabilize the country.

While Turkey is awaiting a decision on its admittance into the European Union, it has forged a trade compact with the EU. This has allowed it to take special advantages as far as trading with EU member states. This has not only allowed Turkey to become an even stronger player in several industries, but to find that it was a good fit for even more industries.

Taxes are somewhat high in Turkey due to the current fiscal policies as well as the heavy government involvement. Also, the currency is somewhat unstable, with the Lira being only recently introduced. However, Turkey may also switch over to the Euro if it is accepted into the European Union.

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