Turkey’s challenge to achieve its export revenue target by 2023
The country of Turkey, on the contrary to the past has been on the agenda of the World concerning many issues. First, it has proved to have implemented correct monetary policies and a strict discipline to go along with it to achieve the target of possessing a strong economy that would not collapse due to a global crisis. This for sure is one of the main reasons for the country to earn credit from many major players on the global scale.
Secondly, Turkey has got involved in the crisis in Syria which has not brought the country anything except problems and great financial burden of unbearable magnitude. On top of this the AKP government in power has earned nothing but the hostility of the Arab World in return to its exaggerated efforts to see Syrian Leader Assad is overthrown.
In spite of all above, Turkey has also proved one other thing; It is such as powerful country that regardless of all negative factors explained above (and more) it has not deviated from its near future targets, for a moment.
One has to admit that the current government in power – although much criticized for going beyond the line on international matters, frequently – has had the guts to make a statement Turkey is ready for the challenge to take its place among the leading countries, economies by 2023, latest.
The question is “Could this be possible in such a turmoil on a global scale and especially in the region of Turkey?”. One could come up with below arguments to find answers to this question;
Turkey’s increasing influence and growing cooperation with new export markets in the Middle East, Africa and Asia are forecasted to increase the country’s exports by 12 percent on average until 2020, according to some latest Trade Forecast Reports. Moreover, surpassing the global export growth forecast of 8 percent, Turkey is also listed among the top six countries with a positive trade sentiment higher than the global index average.
On the other hand, Turkey’s industrial machinery, iron-steel and chemicals sectors are expected to see increased demand from customers in the Middle East, Africa and Asia in the coming years.
And one of the most important points is the country has really done so well as far as attracting foreign investments in recent years after it has improved its economic performance and regulated taax regime etc.
The country has a young population which is seen as a great advantage as well as compared to many competitors.
The actual situation as it stands shows us that Turkey has adopted quite feasible targets for the near future as the exports of the country have reached USD 112 billion dollars in the first 9 months of the year with a year-end target of USD 153.5 billion.
The government has already announced the country aims to reach USD 500 billion exports by 2023, the 100th anniversary of the Republic.
22.10.2013
Editor
