UK looks to double up trade with Turkey
You may have noticed that we are talking a lot about Turkey at the moment but there is one simple reason for this – everyone else is! It seems that people can’t speak enough about the potential for investing in Turkey at this moment in time.
Following on from our article earlier this week regarding the buzz in the investment world that there currently is when it comes to Turkey, we thought you would like to know that it is not just private corporations who are starting to get excited about the prospects, even the UK coalition government has realised the potential.
The most recent White Paper report published by the United Kingdom Trade and Investment (UKTI) division of the government pointed to the crucial importance of trade with emerging economies and wants to double economic volume with Turkey. 'We promote trade with Turkey. We aim to double trade with Turkey and support its accession to the European Union.”
The report, which was released last week, states that the aim is to double the amount of trade between the two countries by 2015. Turkey is currently in a customs union with the EU, the document noted. “The U.K. has long been a strong supporter of Turkey’s membership of the EU, as a major emerging economy in Europe that is set to be Europe’s second largest economy by 2050. Turkey is pro-trade and is seeking a series of bilateral trade deals, with a focus on Middle East and Caucasus markets. Turkey presents a significant opportunity and the U.K. is aiming to double current trade by 2015, from a base of 9 billion pounds.”
This news is likely to reinforce the survey results released by PWC earlier this month which listed Istanbul as the real estate hotspot for 2011.
We currently have exciting properties in Istanbul for investors looking to get involved with Turkey and the economic boom that the country is currently experiencing. If you would like more information on our Istanbul properties or just on investing in Turkey itself, then please do not hesitate to get in touch as we would love to chat with you.
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