Turkey

LOCATION Turkey is the only country in the world that is on two continents. Turkey is on both Asia and Europe. Bordering the Black Sea, between Bulgaria and Georgia, and bordering the Aegean Sea and the Mediterranean Sea, between Greece and Syria.

• Facts:Population :75.6 millionOfficial Language :TurkishAdministrative Type : Democratic Capital City :Ankara, but most populated city is Istanbul.Currency: Turkish Lira

• Working Days: From Monday to Friday• Ethnic Groups : Turkish, Laz,Zaza Kurdish ,

Greek , Turkmen• Life expectacy : 72• Sufferage :18• Mean Age : 28.8 years• Religions :Secular Republic Muslim 99.8%

(mostly Sunni), other 0.2% (mostly Christians and Jews)

• Urban population: 70% of total population (2010).

Tourism in TurkeyVisitors2004 : 17,5 million2007 : 23,3 million2010 Target: 30 million

Bed Capacity1984 : 65.0002006 : 800.000 2010 Target : Above 1 million

Turkish holidaysOfficial holidaysJan 1: New Year's Day

National holidaysApr 23: National Sovereignty and Children's Day (anniversary of the establishment of Turkish Grand National Assembly in 1920)

May 1: Labour and Solidarity Day (since 2009)

May 19: Atatürk Commemoration and Youth & Sports Day (the arrival of Atatürk in Samsun in 1919, and the beginning of the War of Independence)

Aug 30: Victory Day (victory over invading forces in 1922).

Oct 29: Republic Day (anniversary of the declaration of the Turkish Republic in 1923)

Ramazan Bayrami: Three-day festival when sweets are eaten to celebrate the end of the fast of Ramadan month. Also known as "Seker (sweets) Bayrami" since it's customary to offer candies to family members and friends that are visiting.

Kurban Bayrami: Four-day festival when sacrificial sheep or cow are slaughtered and their meat distributed to the poor.

Religious holidays

Turkey: EconomyIncome Level: Upper Middle IncomeLevel of Development :DevelopingEconomic Trivia:The agriculture sector accounts for 25% of employment.Trade :Top 3 Trade Partners: Germany, Russia, and China Top 3 Exported Goods: Precious Stones & Metals, Motor Vehicles & Parts, and Industrial MachineryTop Industries Textiles; Food Processing; Autos; Electronics

SECTORAL BREAKDOWN OF EMPLOYMENT (2007)

FOREIGN DIRECT INVESTMENT IN TURKEY (Billion US $)

ADVANTAGES OF INVESTING IN TURKEY

• Liberalized Market• Domestic Market of over 70 Million People• Proximity to the Huge Markets• High-skilled, Competitive Labor • Low Labor Cost • Strong Ties With Caucasia and Central Asia• The Gateway of Energy Resources• Guarantee of Transfers• National Treatment• Reliable Investment Environment

Business Culture • Turkish business culture is built on trust and

familiarity; it is important to take the time to establish personal relationships with your Turkish contacts in order to succeed in business there.

• Turkish businesses are hierarchical• Arrange appointments in advance, preferably

avoiding the Muslim fasting month of Ramadan, and the main Turkish holiday months of July and August.

• The usual business greeting is a firm handshake with good eye contact; men should wait for women to extend their hand.

-There is usually some preliminary small talk at the outset of meetings, which may include discussion of personal or family details, as this is an important part of the process of getting to know you.-Your presentation should be clear and logical, stressing not just the financial benefits but also any other advantages to your contacts. Make good use of visual aids such as graphs and charts, which are popular with the Turks.-Decision-making can be very slow-Business is often discussed over restaurant dinners in Turkey-It is not necessary to exchange gifts in Turkish business culture, but if you decide to do so an inexpensive souvenir of your home company.