UK determined to improve its economic relations with Turkey
Despite major political and economic problems TURKEY has gone through in recent years, some of its partners in the western world have not refrained from extending their support. Among these the United Kingdom has surely had a special place. In fact, UK has included Turkey among six countries in which the “direct foreign investment project” piloted by the British government, is to be tested.
It is reported that British entrepreneurs are very interested in investment opportunities in Turkey and that is the reason Turkey has taken its place among the six countries in the direct investment project of the British government. As stated by the BCCT (British Chamber of Commerce in Turkey) important investments are expected to be realized in Turkey over the next year. It is also reported that the stable and calm economic environment with positive growth figures in the country for the past eight months is expected to be a major factor to attract the investors. In fact more inquiries have been received lately in regards to business prospects/opportunities in this country from companies which would like to enter the Turkish market with huge potential due to its young population, hungry for consumption.
It is also reported that the trade volume between UK and Turkey has been rapidly increasing. It can be observed that “Turkey sells more goods to the United Kingdom than the United Kingdom sells to Turkey which is an important point the British Government considers to be reviewed.
As far as the project is concerned, the UK government has put it into practice in 6 countries so far with the purpose to make foreign investment in these 6 countries even more active. The UK government wants the British SMEs and companies to invest even more in said countries an grow their assets globally.
On the other hand, the UK took the first place in the distribution of international direct investment by countries, in Turkey last year. The capital inflow from the United Kingdom to Turkey was $ 961 million last year, an increase of 64.3 percent from 2015.
