According to Mehmet Göktürk İplikçioğlu the elections in Türkiye were a significant event, not just for the country itself but for the entire region and beyond.
The world watched the 2023 elections in Türkiye with bated breath. The outcome of these elections could have had far-reaching implications, not least of which was a potential impact on trade relations between Türkiye and Poland.
Poland is one of Türkiye's important trading partners within the EU, and the relationship has been growing in recent years. Trade between Poland and Türkiye has remained robust. This trade relationship is vital for both parties, and any changes in Türkiye's political landscape could have significant implications for this dynamic. Therefore, understanding the potential impact of the 2023 Turkish elections on Polish-Turkish trade relations is of utmost importance.
WBJ: If we look at the past years, how have trade relations between Poland and Türkiye progressed, and what was the trade volume between the two countries?
To further strengthen trade relations, Poland and Türkiye have signed several agreements and established mechanisms for cooperation. Additionally, there have been high-level visits from government officials to foster economic cooperation and explore new opportunities for trade.
Both countries also participate in various trade fairs and exhibitions in each other's countries, providing platforms for businesses to showcase their products and establish contacts with potential partners. Such events contribute to the development of trade relations and the expansion of commercial ties between Polish and Turkish companies.
I should also mention that in 2022, more than one million Polish tourists visited Turkey and we see with reservations that this number will increase in 2023.
How do you think Erdogan's re-election will affect the economic relations between Poland and Türkiye?
I believe that Erdogan's re-election as president will have a positive impact on trade relations and ongoing projects between the two countries. The main reason for this is to ensure stability. Türkiye has been ruled by the same government for over than twenty years, and a possible change in government would require significant long-term work and staffing. It is difficult to expect that a coalition government formed by six parties, will be able to establish a highly effective administration in the short term.
Moreover, we should not overlook the investments made in the defense industry and the rapprochement between the two countries in this sector. Opposition parties have expressed dissatisfaction with the quality of existing defense industry companies and have proposed some alternative entities. One of the primary criticisms from the opposition parties has been the claim that the owners of defense companies have close ties to the Erdogan government.
All experts were anticipating a potential disruption in the defense industry in the event of a change in government. The fact that the government remained unchanged after the election generally shows that the relations between Poland and Türkiye will continue to progress and strengthen.
I believe that the total trade volume between the two countries will exceed €20 billion in the next few years.
What reasons can we list for Polish investors to invest in Türkiye?
Türkiye, with its strategic location, robust economy, skilled workforce, infrastructure development, government support, and vibrant domestic market, offers an array of compelling reasons to invest. As a dynamic and forward-looking nation, Türkiye presents attractive opportunities across various sectors, making it an excellent choice for those seeking long-term growth and profitability. By investing in Türkiye, businesses can unlock immense potential and embark on a rewarding journey in this promising investment destination.
Situated at the crossroads of Europe, Asia, and the Middle East, Türkiye serves as a gateway to multiple markets. Its unique geographical position enables businesses to access over 1.5 billion consumers within a four-hour flight radius, making it an ideal hub for trade and commerce. Furthermore, Türkiye's proximity to major emerging economies provides investors with ample opportunities for regional expansion.
Türkiye has made significant investments in infrastructure development, transforming its transportation, logistics, and energy sectors. The country has modernized its airports, expanded its road and rail networks, and developed state-of-the-art ports. These infrastructural improvements enhance connectivity both domestically and internationally, facilitating the movement of goods, services, and people. Investors can leverage these advancements to establish efficient supply chains and access new markets.
The Turkish government actively promotes foreign investment through a range of incentives and reforms. Measures such as tax reductions, subsidies, and streamlined bureaucratic procedures create a favorable business environment. Additionally, recent reforms have focused on improving the ease of doing business, protecting investor rights, and enhancing transparency. Such initiatives showcase the government's commitment to attracting and retaining foreign investors.
