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DISCLAIMER
This material is based upon work supported by Dublin Business School. Any opinions,
findings, conclusions, or recommendations are those of the authors and do not reflect the views
of Dublin Business School, its employees or its administration.
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Table of content Page
About us ........................................................................................................................... 5
Research Methodology ..................................................................................................... 5
Executive Summary .......................................................................................................... 5
I Policy .............................................................................................................................. 7
1.1 Political stability ......................................................................................................... 7
1.2 Monetary Policy .......................................................................................................... 8
1.3European Policy ........................................................................................................... 8
1.4 Tax Policy ................................................................................................................... 8
II Legislation ..................................................................................................................... 9
2.1 Intellectual & industrial property rights ...................................................................... 9
2.2 Norms .......................................................................................................................... 9
2.3 Labour legislation ....................................................................................................... 9
III Technology .................................................................................................................. 9
3.1 Research & Development .......................................................................................... 9
3.2 Innovation ................................................................................................................. 10
IV Economy .................................................................................................................... 10
4.1 Growth ...................................................................................................................... 11
4.2 Inflation rate & purchasing power ............................................................................ 11
V Ecology ....................................................................................................................... 12
5.1 Energy & recycling ................................................................................................... 12
5.2 Laws .......................................................................................................................... 12
VI Social ......................................................................................................................... 12
6.1 Education .................................................................................................................. 12
6.2 Lifestyle .................................................................................................................... 13
6.3 Health ........................................................................................................................ 13
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VII General Directions of the political and economic policies being followed in order todevelop the country ......................................................................................................... 14
7.1 Political Development ............................................................................................... 14
7.2 Whats new in Turkey............................................................................................... 15
7.3 Corporate social responsibility ................................................................................. 16
7.4 Corruption in Turkey ................................................................................................ 18
VIII Prospect for future trade between France & Turkey ............................................... 19
8.1 Relation between France & Turkey .......................................................................... 19
8.2 French investments in Turkey ................................................................................... 21
8.3 Turkish investments in France .................................................................................. 22
IX Conclusion ................................................................................................................. 22
Minute ............................................................................................................................. 24
Sources ............................................................................................................................ 25
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Antoine Morelle Cassandra Opsomer Orgil Khashbat Mathilde Khan
About us
We are Dublin based international consulting group with newly graduates of Dublin
Business School. We are young, motivated, have strong academic background and committed
to our work. We apply those skills to our research and work with total commitment. Unlike anyother consulting groups we promise to never work in an aggressive or dishonest way and are
unique in providing a truly niche service to our clients and candidates that always includes
choice.
Check out our website athttp://orgilkhashbat.wix.com/acomconsulting
Research Methodology
Our research is based on secondary research through steps of identifying source ofinformation, gathering existing data, normalizing data if needed and analyzing data and making
what is out there useful and making sense to our clients.
http://orgilkhashbat.wix.com/acomconsultinghttp://orgilkhashbat.wix.com/acomconsultinghttp://orgilkhashbat.wix.com/acomconsultinghttp://orgilkhashbat.wix.com/acomconsulting8/10/2019 Global Business Environment Report - Turkey
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Executive summary
Turkey is the third most populous nation in Europe with
71.9 million residents. The country is a secular democracy and
one of the fastest growing economies in the world. The Justice
and Development Party (AKP), a centre-right party, has held
control since 2002 and now enjoys a 50 per cent share of the seats
in the National Assembly. Turkey has very consistently
maintained a pro-Western foreign policy since the end of World
War II, and has provided crucial support to United States (US)
foreign policy objectives. The AKP also has aspirations for
Turkey to become a regional power in the Middle East and acts
according to its geopolitical interests in this volatile region.Occasionally, pursuing these ambitions results in disagreements
with neighbouring countries such as Syria, Israel, Iraq, and Iran.
However, with the exception of Syria, the existing active
commercial ties between these countries have largely remained
unharmed. Turkey is now the world's 17th largest economy, a G-
20 member, and offers access to markets in Europe, the Caucasus,
Central Asia, and the Middle East. Turkey is a significant hub for
the transportation of oil and gas as it acts as a bridge between
Europe and some of the largest energy suppliers in the world.Thus, in addition to having good relations with western and
eastern countries, the Republic of Turkey is an economically
successful, stable, peaceful, democratic, and secular country in a
region rife with conflict.
Fast Facts
Population:72,907,000
Capital:Ankara; 3,428,000
Area:779,452 squarekilometers (300,948square miles)
Language:Turkish, Kurdish,Arabic, Armenian,Greek
Religion:Muslim (mostly
Sunni)
Currency:Turkish lira
Life Expectancy:69
GDP per Capita:U.S. $7,300
Literacy Percent:87
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1.2 Monetary Policy
To rebalance the slowdowns of the Turkish consumption indoor, policies have decided to
lower the rate of exchange, which has enabled him to absorb the lack, and to increase, exports.
However if the inflation gap persists, the gains obtained through the decline in the exchangerate could see disappear. According to its monetary politic, Turkey doesnt want to move its
director rate: The Turkish lira is a safe currency, despite its fall against the US dollar which is
now stabilised.
1.3 European Policy
Turkey definitely wants to return in the European Union and is seeking to fulfil all the
criteria in order to fit with the Maastricht Treaty. The goal is to be irreproachable and be
accepted as the next country to the European Union. Inflation in Turkey is inevitable, given its
unprecedented rate of growth.
The Consumer Price Index is the rate of inflation of consumer prices kept regularly updated
in the country concerned. When this index is compared between different countries, it becomes
the Harmonized Index of Consumer Prices: It is an indicator of price stability, coarsely. It is
observed that it is constantly increasing in Turkey: the prices of consumer products follow the
lineage of the ascension of Turkey.
Compared to the countries of the European Union, this is the rate of inflation the most
powerful, by far. The average rate of HICP inflation in 2013 is 7.44 per cent: In 2012, this
same average amounted to 9.15 %.
1.4 Tax Policy
Turkey is very powerful in terms of reducing the public debt: the debt ratio of the general
government is greatly appreciated by the European policies, and correspond to the criteria of
the Maastricht agreements.
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On the other hand, the economic policies have strongly influenced the fiscal policy of the
country, particularly for foreigners wishing to invest and undertake in Turkey: It is the 13th
country the more interesting for FDI (foreign direct investors), since the policy Is the relocation
of production to the court of the country, in order to avoid the import to relaunch the internal
growth (by self-sufficiency), but also boost exports.
I. Legislation
2.1 Intellectual and Industrial Property Rights
Overall, the intellectual and industrial property rights in Turkey are standardized (seek to
enter the EU and Occidentalising the IP rights). The IP rights are occidentalised because of
their will to enter in the European Union. Before had been Occidentalised, the IP rights didnt
changed since the Ottoman era. Turkey understood it had to change and to grow.
2.2Norms
The Turkey Agency of Standardisation is using international guides to improve its
standardisation within the world. The TAN is a membership of the International Organization
of Standardisation. Because of the customs union with the European Union, (countries which
trade with one another freely and have the same tax regulations on good imported from outside
of those countries), the TAN and the international organisation for standardisation had
contribute to harmonize the turkey norms with the European ones. About the standard
evaluation, the TAN is inspiring with the International Organisation of standardisation and
certificates of conformity written by other countries. The goal is the mutual recognition of
standards of conclusion of testing and regulatory certificates of compliance, with the European
programs.
2.3Labour Legislation
The labour legislation is similar to the European legislation: the fixed-term contracts are
defined strictly by the accomplishment of a specific task (a mission), or a date to be fixed, orthe obtaining of a clearly defined outcome. If the contract is signed by the employee and the
company is not determined by one of these reasons (date, mission or obtaining the result), then
the employee is considered as working in contract of indefinite duration.
II. Technology
2.1Research & development
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The potential of Turkey is considerable, that is why it seems important to make share: the
rise of Turkey and its growth the help to invest and to develop its spheres of research. Most of
the international companies of technology are turning to this country.
The director of the design firm of SAP software, Franck Cohen, explains that Turkey is one of
the 3 countries which offer a performance and quality of services to exploit more particularlythat the other, given its rapid growth. This undertaking is yet present in 130 countries. Clearly,
thats its economic positioning in high yield which makes the Turkey very interesting in terms
of development, innovation and yields fast.
.
2.2Innovation
In terms of innovation, 2014 is symbolic: an intercultural event has yet to come: the
Germano-Turkish Year of Research, Education and Innovation . This partnership is based
on an interaction between the companies, research centres and schools German superior, whomay like to enhance and increase their potential with the Turkish advanced. The German
government offers aids to these structures which cooperate with Turkey.
Otherwise, Turkey is generator of innovations, and this is proved by the confidence that
the investment banks give to this country (for example in 2012, the European Investment Bank
has lent EUR 175 million to Turkey, in favour of its economic growth).
The most famous sectors of Turkish innovations are in majority turned toward research and
development. The Turkish government is an engine of innovation: since its government helpsinnovation by financial and tax aid, companies can grow and increase their potential for
innovation (both for the small and medium sized enterprises than for large firms).
III. Economy
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4.1 Growth
In the year 2012, the growth of the Gross Domestic Product rate has been of 786, 3 billion
USD, putting Turkey at the 17thrank of the GDP. Between the ear 2002 and 2012, the averagegrowth rate was of 5, 2 %. However, since 2012, the economy has been affected by the slow of
the EU growth and the inner market is not developed enough to maintain the past rhythm of the
growth during the last decade. With half of the population under 30 years old, the market needs
4% of growth each year to absorb the new comers on the work market. Also, with a saving
rate of only 12%, the country has some difficulties to finance the necessary investment for an
important growth. The government needs to find another way of finding the funds to finance its
growth ambitions. Some measure has been taken in order to increase the productivity of the
workforce. The government took the decisions to reduce the work costs (fewer taxes) and to
improve the education level. The OECD also advises to make the work legislation moreflexible.
4.2 Inflation rateand Purchasing power:
Turkish HICP rate graph
As it is shown in this graph, we can see that there was a very high inflation at the end of
the nineties. It is due to a crisis in the bank market. After 2002, the Central Bank of Turkey
putted in place a politic in order to master the inflation. As we can see on the graph, the CBT
succeeded after 2004 to maintain the inflation below 10% each year. Indeed, the inflation
before 2002 reached a very high rate which did not allow the economy to benefit the raise of
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the growth. By controlling the prices raise, some investments were done in sectors of the
economy. It has allowed the Turkish economy to maintain its comparative advantages.
Thanks to the growth of the last decade, the purchasing power of the Turkish consumers
has increased. It is mainly the consequence of the control of the inflation rate by the CBT. Dueto the lowness of the saving rate, consumers have more and more resort to consumer credit. It
allows a growth of the inner demand, especially in the sector of foreign goods. Nevertheless,
with an unemployment rate which is near 10%, not all consumers are benefiting the growth and
the improvement of the economy.
IV. Ecology
4.1
Energy & recycling
Since 1991 and the orientation of the economy to the secondary sector, the CO2 emission
has raised over 124%. In order to support the growth of the needs in energy, the government
has opened some coal factories, in addition of the increase of the importation of gas and fuel.
In 2023, 30% of the energy consumed will come from renewables energies (mainly solar).
Regarding the recycling, the government has some work to do. Indeed, only 1% of the
waste is recycled and the rest are put in the waste disposal. But some measure has been taken
in order to aware the population about selective sorting.
4.2
Laws
In 2009, the government settled a national strategy about global warming and launched
renewable energy projects. Some incentives measures have been taken for the industrial sector
in order to encourage the adoption of more ecological technologies.
V. Social
6.1 Education
With a literacy rate of 98% for the 15-24 years old, we can see that the effort of the
country to improve the knowledge of the population is working. Some politics has been settled
in order to support the economic ambition of the country. The proportion of children in fulltime
education in the primary reached almost 100%, it drops however at 77% for the men and 71%
for the women in the secondary. Efforts have to be made in this field to increase this last rate,
especially for the women.
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6.2 Lifestyle
The culture of this old empire is still very present in the way of life of the population. The
Islamic culture has a major role in the everyday life, as 99% of the population is Muslim. Also,
with the rapid development of Turkey, we can now observe two distinct parts of the country:
the west, which is now developed and looks more and more to the western countries, and the
East, which do not benefit from the growth of the last decades. Moreover, as any emergent
country, Turkey knows an important rural exodus and faces the arrival of the rural population
in the cities.
Saint Sophie mosque, Istanbul
6.3 Health
During the last two decades, the health of the population has improved in a significant way.
Indeed, the mortality rate of the children under 5 years old was of 72% in 1990 and decrease to
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15% in 2011. Also, progress has been made in the water treatment and in the sanitary
installations. The life expectancy at the birth is 74 years old against 60 years old in 1980. The
effort of the government to increase the wealth of its inhabitants is paying.
VI. General directions of the political and economic policies
being followed in order to develop the country
7.1 Political development
With the birth of Turkish republic, Turkey has always looked to the West, with two mains
pillars which are: keeping the status quo, and maintaining its western orientation.
To keep it that way, Turkey has approved major changes, getting from national capitalism
to international capitalism, from a modern state and society to a pluralist state and society, and
switching from Kemalism (Modern philosophy to sweep political, cultural and religious
reforms from Ottoman heritage to a more Westernized way of living.) to post Kemalism. It also
has a new political party since 2002, the AKP. The goal of this political movement is clearly to
modernize turkey and to westernize it. Thanks to the AKP, Turkey is now part of the European
Union:
Our party (The AKP) considers religion as one of the most important institutions ofhumanity, and secularism as a pre-requisite of democracy, and an assurance of the freedom ofreligion and conscience. It also rejects the interpretation and distortion of secularism as enmityagainst religion. Our Party refuses to take advantage of sacred religious values and ethnicityand to use them for political purposes. It considers the attitudes and practices which disturb
pious people, and which discriminate them due to their religious lives and preferences, as anti-democratic and in contradiction to human rights and freedoms. On the other hand, it is alsounacceptable to make use of religion for political, economic and other interests, or to put
pressure on people who think and live differently by using religion.(Ak Party Official Web
Site 2011).
Turkey is indeed a parliamentary democracy based on multi-party political system:
AKP = Centre right party
CHP = Republican People party
MHP = Nationalists
Whats also important to know is that Turkey has a strong past among Arab countries
(Syria, Iraq, Egypt, Libya), and tends to be a model among those countries. That means that
Turkey is now an open door from western countries to eastern ones. And that is exactly the
direction Turkey wants to take.
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7.2Whats new in Turkey
As said previously, the AKP is the main changing part in
Turkey politics and development. It has established record of
modernization, economic growth, and has made reforms for
Turkey to enter the European Union in 2007. The goal is to create
a real democracy, and it is now a path in good shape. Next
parliamentary elections are about take place in 2015, there is no
doubt that AKP will continue leading the country.
We have to know that AKP has introduced aZero-problem
initiative based on relationships with its neighbours. This
policy is aimed to get access to new markets and new strategicrelations and partnerships.
The aim of establishing a belt of security and prosperity in its
neighbourhood is also important for the steady continuation of
Turkeys development. Turkey has indeed achieved substantial
progress and stability in economic, political and social fields in
the last decade. Thats why, stability around its border is
essential. In this sense, the zero problems approach is a long term
goal on which we will work in patience. Indeed, we cant expect
it to be efficient instantly, Rome wasnt built in a day.
To get along with this, neighbours will have to implement
new politics as well and to make efforts in this way.
For example, bilateral relations with Syria has entered into a
new phase since the regime in Syria has engaged into violence
against its own people and denied calls for cooperation to end the
conflict. This is not due to the failure or inconsistency of the zero
problems approach, but rather Syrias own politics. However,
even under current circumstances, Turkey will not left Syrianpopulation behind and will do whatever needed to prevent
conflicts.
So Turkey is now part of EU, it is safe, politically stable, and
we know it is a significant hub for the transportation of oil and
gas as it acts as a bridge between Europe and some of the largest
energy suppliers in the world. A draft for Turkeys 10th five-year
economic development plan for 2014-2018 that has been sent to
Parliament aims to reach an annual growth rate of 5.5 percent, an
inflation rate of 4.5 percent and an unemployment rate of 7.2
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percent by the end of 2018.
The Ministry of Development said they planned to upgrade the economys potential growth
to achieve the 5.5 percent rate goal. The plan aims to increase the gross domestic product
(GDP) to $1.3 trillion and income per capital to $16,000.
The export volume, which was $152.5 billion last year, is aimed to rise to $277.2 billion by
the end of 2018 with an annual 11.9 percent increase. The import volume is aimed to reach
$404.3 billion by the end of 2018 from $236.5 billion last year with a 9.9 percent annual
increase. If the goals are achieved, the current account deficit will be $127 billion and the ratio
of the current account deficit to the GDP will be around 10 percent. However, the current
account deficit is planned to be $67.1 billion by the end of 2018 and the ratio of the current
account deficit to the GDP is set to be reduced to 5.2 percent from 6 percent in 2012.
The plan foresees creating 4 million new jobs with a 2.9 percent annual increase. Labourforce participation rate is aimed to increase to 53.8 percent by the end of 2018 from 50 percent
last year. A 2 percent decrease in the unemployment rate is targeted. As the plan envisages
decreasing the unemployment rate from 9.2 percent in 2012 to 7.2 percent.
The 10th development plan will lead the country to approach the 2023 targets that aim to
reach a $2 trillion GDP, $25,000 income per capita, $500 billion exports and a 5 percent
unemployment rate, the ministry said in a statement. The draft of the plan was presented to
Parliament on June 14.
7.3Corporate social responsibility
In 2008 a first CSR report was published as an outcome of an EU project which main goal
was to implement CSR in new EU member states.
We have to know that after the 2007 crisis, unemployment rates in Turkey increased
dramatically, reaching 12.8% in 2009, with 23.2% of unemployment within the youth
population (TurkStat).
However, despite this crisis, some corporate relations managers of large companies said
they would not give up on CSR in their companies. CSR is here considered as long term
strategy. But theres a problem as small & medium enterprises are getting an important role
in Turkey economy, and they do not have the same resources as large companies.
We also have to know that Turkey signed in 2009 the Kyoto Protocol, and it states that
developed countries should reduce their impact on environment, and that they should help less
developed ones to do so by investing in them. However, Turkey is not a developed country, nor
a developing country. A new term is out for countries in the same situation and itsAdvanced
developing country.
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Consequently, we may be able to see sanctions towards environmental protection and
reducing effects of global warming after 2013. No sanctions to corporations, related to
environmental protection have been set up in Turkey, so we can argue that CSR is not
implemented in Turkey State actions.
However, according to the CSR report on Turkey, the first 30 companies of Istanbul Stock
Exchange (ISE) National 100 Index have been studied on their approach of CSR.
Approximately 56% of these companies have published a CSR strategy report, 67% have
published a CSR section on their websites and 74% have their own ethical code.
Here we can see the practices of ISO-100 and the CSR fields used in these companies.
Then we can see that ISOs regulations are not really in use in Turkeys companies.
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Concerning the impact of Global Compact, which is the largest corporate citizenship and
sustainability initiative in the world, in Turkey, it started in 2002 with support of local
stakeholder. 160 companies signed a contract with GC by the end of 2009:
So we can conclude that CSR in Turkey, especially in private sector, is getting stronger &
stronger with the time. There are no sanctions for the moment from Turkey government, and
there is no public support because Turkey needs to adapt itself and is not prepared at the
moment after the 2007 crisis. But efforts will be maintain and finally Turkey will get CSR
regulations.
7.4 Corruption in Turkey
Corruption is an important topic to be spoken about. Especially if you are planning to
externalize abroad. There are a lot of companies forced to pay bribes. Turkey does not get
good marks on corruption indexes, but it has made some changes in its politics thanks to AKP.
Research by Transparency International indicates that Turkey rose from 77 th place to 54th
among the least affected countries by corruption. Last year, it appears that 21% of those
receiving services from institutions & organizations paid a bribe in Turkey. In comparison,
rates for UK and US are 5% & 7% respectively. Leaders are Japan, Finland & Denmark, with a
1% rate.
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The Corruption Perceptions Index
Apparently, corruption is important particularly with allocation of public resources and for
people dealing with public sector in the course of their work. It is also important in public
administration, education & the private sector, scoring 3.3 on a 1 to 5 scale.
Getting out of the underdeveloped or developing countries group where corruption is a fact
of life is for Turkey, more than just a positive step. Turkey needs to bring the bribery rate down
below 10%, especially if Turkey is to meet its commitment of becoming one of the worlds ten
largest economies by its target date of 2023, the hundredth anniversary of the Turkish
Republic.
Struggling against corruption is so becoming a priority target.
VII. Prospect for future trade between France & Turkey
8.1 Relationship between France & Turkey
Relationship between Turkey and France date back to 1526, since then they have had some
good and bad relations. But with the open market conditions (for industrial products) set off
with the EU-Turkey Customs Union starting in 1996, trade figures between France and Turkey
were boosted by two and a half fold during the ensuing five years, reaching 5.8billion Dollars in 2000, and with France registering a clear surplus. Turkey became France's
third largest trade partner outside the EU and France became Turkey's third largest partner
overall.
In 2011, Turkish-French bilateral trade volume reached 16 billion USD with a French
surplus of 2.42 billion USD. By the end of June 2012, 1.039 companies with French capital
were active in Turkey. French direct investment in Turkey reached 985 million USD in 2011.
As the world's 31st biggest exporter, Turkey shipped $140.8 billion worth of exports in
2008. Principal Turkish exports were apparel, foodstuffs, metal manufactures, textiles and
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transport equipment. Based on 2008 statistics, and France with 5% was in 5th.
On more up to date source the volume of trade between France and Turkey from January
to November this year was more than $13.5 billion, according to Turkish government statistics.
France is Turkeys fifth biggest export market and the sixth biggest source of imports.
Turkeys major export products include clothes, electronics, automobiles and agricultural
products. Other major products exported from Turkey include iron and steel, mineral fuels andoil, precious stones and tobacco. On the other hand, the major import commodities for Turkey
include electrical equipment, mechanical appliances, optical instruments, iron and steel, and
pharmaceutical products.
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next nuclear power plant. Aeroports de Paris, also acquired last year 38% of the leading
Turkish operator, TAV Turkish Airline, and paid 667 million euros for the holding.
French investments in Turkey keep going on and increase every year, proof that Turkey is
in a good shape and keep flowing, with a +5% growth each year, its economy is stable androbust, and it is clearly becoming an investment priority as it will keep growing in the next
years to come.
8.3 Turkish investments in France
There is only 40 Turkish companies in France. However, in recent years more than 60
Turkish companies are strongly thinking of locating there. Yet, France is the favourite one of
investors who want to turn to the whole Western Europe: its logistics in terms of travel (the
sides, the railway system and motorway) reassure the investors, and its geographic position too
(the centre of the Western Europe).
The bilateral relations between Turkey and France are doing very well. The company
(automotive) is established in France since a few years already and the collaborations do not
cease to increase. In addition to the automotive sector, the banks, as well as the airline industry
and the textile are the key sectors that Turkey never ceases to develop. They have to be
considered for future investments in France.
The French government has wanted to make it more attractive to foreign investors. That is
why it has simplified its system of integration of employees by eliminating the retail cardabroad, for example. For business leaders, the visas are no longer required. France has a
potential of public aid very developed and attractive for foreign companies. There are facilities
for tax credit for example, or of special taxation for these investors.
IX Conclusion
To sum up, we can see that, since the past years, in order to fulfil its ambition of becoming
a real regional power, Turkey has managed to bring more and more investments in itseconomy.
We first established a general statement about the actual situation of the country. Indeed,
from the time when the AKP enter the government in 2002, not only the economy got better,
but also the living conditions of the population. The country has opened itself on the exterior,
with the increase of the trade with UE, but also enlarges its economics partners.
On the second hand, we explored the political and economic measures taken, to develop
the country. We found out that Turkey has secured the political situation, and has reinforced the
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relationships with its direct neighbours. However, the country has to work on the high
corruption rate, if it wants to improve the foreign investments.
At last, we studied the economical relation between France and Turkey and we found out
that French companies has invested a lot in this country for the last years and that manypartnerships has been settled.
To conclude, Turkey is now considered as an emergent country and it is a good place to
invest and to do business, because it is only the beginning of the development of this future
great power.
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Minute
20/10/13: We decided the allocation of items between the four of us. Also, we organized
meetings every two weeks to check our task progress.
07/11/13: The question 1 (done by Mathilde and Cassandre) is almost done, the Social part of
the PESTEL, so as the Technology are still missing, but will be done by the next meeting. The
question 2 (by Orgil and Antoine) is also finished.
21/11/13: The third question is divided between Antoine, Orgil and Cassandre. Mathilde is
writing the conclusion after everybody ended the assignment.
07/12/13: Orgil did the layout file so as to complete with the three parts (questions) of the job.
13/12/13: We looked at the assignment together to see the final result of it.
We have decided to choose Turkey because we have felt it is one of the fastest growing
economies in the world and part of the MIST countries, and because it was a country we were
likely to know more about, as it is now European country. We felt Turkey has a lot of potential
in future and we found out there are not a lot of report on Turkey. Most of the reports are based
on China, Russia, Brazil etc BRIC countries.
All of us are really happy about what is the result of our common efforts. We had no problems
working together as we were working in respect with each other work, agreeing on who wouldwork on this or this part, everything was smooth and it comforts us for the future, as we are
working in parallel on other works. We enjoyed working on Turkey and we were a bit
disappointed to see that we could not implement all of our research in this report, as there was a
word count of 5000 (+-10%). We all learnt a lot about Turkey and its ongoing situation, and we
are proud to send you this report as a team.
We feel everybody in our group equal, fair and respectfully.
8/10/2019 Global Business Environment Report - Turkey
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[A.C.O.M CONSULTING GROUP] TURKEY
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http://www.hurriyetdailynews.com/french-firm-may-invest-7-8-bln-euros-in-
turkey.aspx?pageID=238&nID=58138&NewsCatID=345 19/11/13
http://www.hurriyetdailynews.com/french-investments-flow-to-
turkey.aspx?pageID=238&nID=15859&NewsCatID=345 13/02/12
http://www.lemonde.fr/idees/article/2012/07/04/le-grand-enfermement-des-libertes-en-
turquie_1728821_3232.html - 04/07/12
http://www.turquieeuropeenne.eu/+-politique-turque-+.html
http://www.oecd.org/fr/turquie/etudeeconomiquedelaturquie2012.htm - 2012
http://www.trader-forex.fr/actualite-forex/turquie-la-banque-centrale-laisse-ses-taux-directeurs-
inchanges-08076.html - 17/09/13
http://fr.global-rates.com/statistiques-economiques/inflation/indice-des-prix-a-la-
consommation/ipch/turquie.aspx
http://www.invest.gov.tr/fr-FR/investmentguide/investorsguide/Pages/FDIinTurkey.aspx
http://www.oecd.org/fr/turquie/etudeeconomiquedelaturquie2012.htm
http://www.bulletins-electroniques.com/actualites/74017.htm
http://www.bulletins-electroniques.com/actualites/58598.htm - 14/04/09
http://europa.eu/rapid/press-release_BEI-12-157_fr.htm?locale=FR 09/11/12
http://www.oecd.org/fr/sti/inno/46713285.pdf - 2012
http://www.econostrum.info/Innovation-les-bons-choix-de-la-Turquie_a16257.html - 17/10/13
http://www.sant.ox.ac.uk/seesox/workshopreports/ReportfromTFPconf.pdf- 05/10
http://www.cdfai.org/PDF/Turkey%20Current%20and%20Future%20Political,%20Economic
%20and%20Security%20Trendsb.pdf 06/12
http://www.herodot.net/conferences/ayvalik/papers/geog-13.pdf
http://webcache.googleusercontent.com/search?q=cache:vphBoQKoJ4kJ:oslo.emb.mfa.gov.tr/i
mages/localCache/1/80a0e276-4dc5-41af-99ca-
5f6896cd17c7.docx+&cd=1&hl=fr&ct=clnk&gl=ie
http://geert-hofstede.com/turkey.html -05/12/2013
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http://www.hurriyetdailynews.com/french-firm-may-invest-7-8-bln-euros-in-turkey.aspx?pageID=238&nID=58138&NewsCatID=345http://www.hurriyetdailynews.com/french-firm-may-invest-7-8-bln-euros-in-turkey.aspx?pageID=238&nID=58138&NewsCatID=345http://www.hurriyetdailynews.com/french-investments-flow-to-turkey.aspx?pageID=238&nID=15859&NewsCatID=345http://www.hurriyetdailynews.com/french-investments-flow-to-turkey.aspx?pageID=238&nID=15859&NewsCatID=345http://www.lemonde.fr/idees/article/2012/07/04/le-grand-enfermement-des-libertes-en-turquie_1728821_3232.htmlhttp://www.lemonde.fr/idees/article/2012/07/04/le-grand-enfermement-des-libertes-en-turquie_1728821_3232.htmlhttp://www.turquieeuropeenne.eu/+-politique-turque-+.htmlhttp://www.oecd.org/fr/turquie/etudeeconomiquedelaturquie2012.htmhttp://www.trader-forex.fr/actualite-forex/turquie-la-banque-centrale-laisse-ses-taux-directeurs-inchanges-08076.htmlhttp://www.trader-forex.fr/actualite-forex/turquie-la-banque-centrale-laisse-ses-taux-directeurs-inchanges-08076.htmlhttp://fr.global-rates.com/statistiques-economiques/inflation/indice-des-prix-a-la-consommation/ipch/turquie.aspxhttp://fr.global-rates.com/statistiques-economiques/inflation/indice-des-prix-a-la-consommation/ipch/turquie.aspxhttp://fr.global-rates.com/statistiques-economiques/inflation/indice-des-prix-a-la-consommation/ipch/turquie.aspxhttp://www.invest.gov.tr/fr-FR/investmentguide/investorsguide/Pages/FDIinTurkey.aspxhttp://www.invest.gov.tr/fr-FR/investmentguide/investorsguide/Pages/FDIinTurkey.aspxhttp://www.oecd.org/fr/turquie/etudeeconomiquedelaturquie2012.htmhttp://www.oecd.org/fr/turquie/etudeeconomiquedelaturquie2012.htmhttp://www.bulletins-electroniques.com/actualites/74017.htmhttp://www.bulletins-electroniques.com/actualites/74017.htmhttp://www.bulletins-electroniques.com/actualites/58598.htmhttp://europa.eu/rapid/press-release_BEI-12-157_fr.htm?locale=FRhttp://www.oecd.org/fr/sti/inno/46713285.pdfhttp://www.oecd.org/fr/sti/inno/46713285.pdfhttp://www.econostrum.info/Innovation-les-bons-choix-de-la-Turquie_a16257.htmlhttp://www.sant.ox.ac.uk/seesox/workshopreports/ReportfromTFPconf.pdf-http://www.sant.ox.ac.uk/seesox/workshopreports/ReportfromTFPconf.pdf-http://www.cdfai.org/PDF/Turkey%20Current%20and%20Future%20Political,%20Economic%20and%20Security%20Trendsb.pdfhttp://www.cdfai.org/PDF/Turkey%20Current%20and%20Future%20Political,%20Economic%20and%20Security%20Trendsb.pdfhttp://www.herodot.net/conferences/ayvalik/papers/geog-13.pdfhttp://webcache.googleusercontent.com/search?q=cache:vphBoQKoJ4kJ:oslo.emb.mfa.gov.tr/images/localCache/1/80a0e276-4dc5-41af-99ca-5f6896cd17c7.docx+&cd=1&hl=fr&ct=clnk&gl=iehttp://webcache.googleusercontent.com/search?q=cache:vphBoQKoJ4kJ:oslo.emb.mfa.gov.tr/images/localCache/1/80a0e276-4dc5-41af-99ca-5f6896cd17c7.docx+&cd=1&hl=fr&ct=clnk&gl=iehttp://webcache.googleusercontent.com/search?q=cache:vphBoQKoJ4kJ:oslo.emb.mfa.gov.tr/images/localCache/1/80a0e276-4dc5-41af-99ca-5f6896cd17c7.docx+&cd=1&hl=fr&ct=clnk&gl=iehttp://webcache.googleusercontent.com/search?q=cache:vphBoQKoJ4kJ:oslo.emb.mfa.gov.tr/images/localCache/1/80a0e276-4dc5-41af-99ca-5f6896cd17c7.docx+&cd=1&hl=fr&ct=clnk&gl=iehttp://geert-hofstede.com/turkey.htmlhttp://geert-hofstede.com/turkey.htmlhttp://www.solasconsulting.ie/about-ushttp://www.solasconsulting.ie/about-ushttp://www.marietta.edu/~catalant/Management%20451.pdfhttp://www.marietta.edu/~catalant/Management%20451.pdfhttp://www.marietta.edu/~catalant/Management%20451.pdfhttp://www.solasconsulting.ie/about-ushttp://geert-hofstede.com/turkey.htmlhttp://webcache.googleusercontent.com/search?q=cache:vphBoQKoJ4kJ:oslo.emb.mfa.gov.tr/images/localCache/1/80a0e276-4dc5-41af-99ca-5f6896cd17c7.docx+&cd=1&hl=fr&ct=clnk&gl=iehttp://webcache.googleusercontent.com/search?q=cache:vphBoQKoJ4kJ:oslo.emb.mfa.gov.tr/images/localCache/1/80a0e276-4dc5-41af-99ca-5f6896cd17c7.docx+&cd=1&hl=fr&ct=clnk&gl=iehttp://webcache.googleusercontent.com/search?q=cache:vphBoQKoJ4kJ:oslo.emb.mfa.gov.tr/images/localCache/1/80a0e276-4dc5-41af-99ca-5f6896cd17c7.docx+&cd=1&hl=fr&ct=clnk&gl=iehttp://www.herodot.net/conferences/ayvalik/papers/geog-13.pdfhttp://www.cdfai.org/PDF/Turkey%20Current%20and%20Future%20Political,%20Economic%20and%20Security%20Trendsb.pdfhttp://www.cdfai.org/PDF/Turkey%20Current%20and%20Future%20Political,%20Economic%20and%20Security%20Trendsb.pdfhttp://www.sant.ox.ac.uk/seesox/workshopreports/ReportfromTFPconf.pdf-http://www.econostrum.info/Innovation-les-bons-choix-de-la-Turquie_a16257.htmlhttp://www.oecd.org/fr/sti/inno/46713285.pdfhttp://europa.eu/rapid/press-release_BEI-12-157_fr.htm?locale=FRhttp://www.bulletins-electroniques.com/actualites/58598.htmhttp://www.bulletins-electroniques.com/actualites/74017.htmhttp://www.oecd.org/fr/turquie/etudeeconomiquedelaturquie2012.htmhttp://www.invest.gov.tr/fr-FR/investmentguide/investorsguide/Pages/FDIinTurkey.aspxhttp://fr.global-rates.com/statistiques-economiques/inflation/indice-des-prix-a-la-consommation/ipch/turquie.aspxhttp://fr.global-rates.com/statistiques-economiques/inflation/indice-des-prix-a-la-consommation/ipch/turquie.aspxhttp://www.trader-forex.fr/actualite-forex/turquie-la-banque-centrale-laisse-ses-taux-directeurs-inchanges-08076.htmlhttp://www.trader-forex.fr/actualite-forex/turquie-la-banque-centrale-laisse-ses-taux-directeurs-inchanges-08076.htmlhttp://www.oecd.org/fr/turquie/etudeeconomiquedelaturquie2012.htmhttp://www.turquieeuropeenne.eu/+-politique-turque-+.htmlhttp://www.lemonde.fr/idees/article/2012/07/04/le-grand-enfermement-des-libertes-en-turquie_1728821_3232.htmlhttp://www.lemonde.fr/idees/article/2012/07/04/le-grand-enfermement-des-libertes-en-turquie_1728821_3232.htmlhttp://www.hurriyetdailynews.com/french-investments-flow-to-turkey.aspx?pageID=238&nID=15859&NewsCatID=345http://www.hurriyetdailynews.com/french-investments-flow-to-turkey.aspx?pageID=238&nID=15859&NewsCatID=345http://www.hurriyetdailynews.com/french-firm-may-invest-7-8-bln-euros-in-turkey.aspx?pageID=238&nID=58138&NewsCatID=345http://www.hurriyetdailynews.com/french-firm-may-invest-7-8-bln-euros-in-turkey.aspx?pageID=238&nID=58138&NewsCatID=3458/10/2019 Global Business Environment Report - Turkey
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[A.C.O.M CONSULTING GROUP] TURKEY
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