Foreword from Christopher W. Gaunt, Chairman of The British Chamber of Commerce in Turkey (BCCT)
BCCT the road ahead for British business in Turkey.
Turkey has a challenging 2018 ahead which will require a strong nerve and patience. Turkey will face both political and economic challenges in the short term but I firmly believe, based on Turkey's resilient fundamentals, dynamic demographics and regional business networks, the medium and long term prospects are still positive with considerable headroom for growth.
With Europe and the Middle East still dealing with the tail end of the recent economic downturn and geopolitical turbulence, Turkey's economic performance has seemingly bucked the trend. Turkey has proven resilient to the global recession, posting strong and stable economic growth in a number of sectors helping it develop into one of the strongest economies in the region. While traditional trade sectors reflect only a fraction of the investment opportunities currently on offer; sectors to focus on include PPP healthcare, infrastructure, renewable energy, automotive, technology and defence, which have drawn interest from key market players and multilateral institutions alike. Whilst local financing exists, foreign direct investment is increasingly sought to increase efficiency and match Turkey’s fast growing GDP.
Thus investors, especially long-term investors, have become increasingly drawn to Turkey by the continued prospect of growth fuelled by a well-educated and thriving young population, strong and developed private sector and growing middle class.
Established in 1887, The British Chamber of Commerce in Turkey (BCCT) is one of Turkey’s largest and oldest international business NGO’s, assimilating a broad spectrum of British, International and Turkish companies within its network. By acting as a matchmaker for UK and Turkish companies, BCCT makes a significant contribution to both the British and Turkish economies. Since 2014, BCCT has contributed to more than £75 million in export wins for UK companies.
As part of BCCT’s strategic alliance with the UK Department for International Trade, we deliver B2B services across 23 sectors; this encompasses engagement with major UK multinationals, together with a substantial number of small and medium-sized enterprises (SMEs), as well as Chambers of Commerce both in the UK and in Turkey. We deliver an integrated offer to seize new business, export wins and investment opportunities in market and regionally for our clients, together with creating added value benefits for our members, stake holders and strategic partners.
Key to our vision of being “The Business Partner of Choice in Turkey” BCCT strives to be a dynamic and influential body, representing and supporting the business interests and values of its members while delivering insightful, practical, and relevant support services for British and Turkish companies to help them realise their export potential. Working closely with the DIT trade team, our highly knowledgeable and experienced trade team, supported by our influential, senior executive level Board Members, we collectively represent a broad range of skill sets and multiple disciplines. Thus we are able to create strong and viable trade and investor platforms for UK companies both existing and potential, which ensure long term sustainable bilateral trade which contributes to the prosperity on both economies.
Christopher W. Gaunt
Chairman, The British Chamber of Commerce in Turkey (BCCT)
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