Competing for Africa: Turkey Rising

The North Africa Journal | In a briefing we held with a former Turkish Ambassador to the U.N., he noted that global corporations generally like to point to the strong economic growth of markets like Brazil, China, India and Russia. But he added that they often neglect to mention the stellar performance of the Turkish economy.

Growing at an average rate of 7% from 2000 to 2007, then dropping to the smaller rate of +4.7% in 2009, before jumping 10.3% in the first quarter of 2010, Turkey is the envy of the sluggish Europe, yet that country’s growth is no coincidence or a miracle. Turkey’s political and business leaders have been busy structuring their economy so as to enable the type of growth they are seeking. Not only this meant methodical work on the legislative front to simplify the country’s business environment, but also conquering new markets abroad to stimulate exports and increase trade, two important engines of economic development. If you are a subscriber, continue here. Otherwise, see subscription information here.