• GDP: US$356.7 billion.
• Main exports: Clothing and textiles, road vehicles, iron and steel, electrical machinery and fruit and vegetables.
• Main imports: Machinery, appliances and parts, mineral fuels and oil, road vehicles, iron and steel products and plastics and products.
• Main trade partners: Exports to: Germany, UK and USA. Imports from: Germany, Russia and Italy.

Turkey is self-sufficient in basic foodstuffs including maize, sugar, wheat and barley. Cotton, tobacco, fruit, vegetables and nuts are grown for both domestic consumption and export. A variety of livestock is reared. The agricultural sector still accounts for around 12 per cent of total economic output and is a major employer, especially of women in the workforce, 60 per cent of whom work on the land. There is a sizeable mining industry producing copper, chromium, borax and, to a lesser extent, bauxite and coal. Manufacturing and services are the most important sectors. Manufacturing has grown significantly, in particular the production of textiles and clothing, road vehicles and electronic goods.
The service sector too has seen steady growth. Tourism dominates this sector and is the second biggest revenue earner in the country.
Economic performance between 1998 and 2002 was poor with negative GDP growth during most of the period (9 per cent during 2001), while inflation was between 40 and 65 per cent. There was improvement in 2003, when inflation was cut to near 20 per cent, and in 2004, when it was cut to 10 per cent. Growth of about five per cent is predicted for 2005 and 2006. Unemployment has remained steady at just over 10 per cent since 2002. Relations with the international financial community have been difficult. Successive governments have agreed reform programmes based on the usual diet of deregulation and privatisation. However, political instability has undermined Government attempts to sell utilities and key industries (including banking and food-processing). Turkey has long harboured an aspiration to join the European Union, having lodged its original application in 1963. Poor economic management, the unresolved situation in Cyprus, perennial disputes with Greece and a bad human-rights record have combined to thwart any prospect of EU membership in the past. However, official EU membership talks finally began in October 2005. Europe has increasing influence over the country; Turkish trade patterns have shifted from the Middle East in favour of Europe, and hundreds of thousands of Turkish workers are employed across the EU.

A formal suit or jacket and tie should always be worn for business. English is widely spoken in business circles, although an effort by the visitor to speak a little Turkish is appreciated. The majority of people in business value punctuality and visiting cards are widely used. Office hours: Mon-Fri 0830-1200 and 1330-1730. Summer: In the Aegean and Mediterranean regions of Turkey, government offices and many other establishments are closed during the afternoon in the summer months. The summer hours are fixed each year by the provincial Governors.

Istanbul and Antalya are the most popular venues, followed by Ankara, Marmaris and Bodrum. There are many 4- and 5-star hotels, which provide facilities and can host conferences and meetings to international standards. The Crowne Plaza Istanbul has a conference centre with facilities for up to 1000 people.

Union of Chambers and Commodity Exchanges of Turkey
TOBB Atatürk Bulvari, 149 Bakanliklar 06640, Ankara, Turkey
Tel: (312) 413 8000.
Website: www.tobb.org.tr

Istanbul Convention and Exhibition Centre
Harbiye 80230, Istanbul, Turkey
Tel: (212) 296 3055.
Website: www.icec.org

Crowne Plaza Istanbul (Information on Conferences/Conventions)
Tel: (212) 560 8110.
Website: http://istanbul.crowneplaza.com