How to Export to Turkey ?
Export to Turkey : Turkey is the 17th largest economy in the world and plans to reach the world’s top 10 economies in 2023, the 100th anniversary of its republic.
Turkey is considered a natural economic bridge because of its proximity to Europe and the Middle East. And has a young and dynamic population. The growth of entrepreneurs in this country is evidence of economic conditions in Turkey. Of course, after the crisis of the 2016 coup, the situation is a bit complicated. The devaluation of the Turkish national currency and the appreciation of the decline in economic growth have made investors uncertain. Turkey has a preferential tariff with many countries.
Biggest countries exporter to Turkey
|4||United States of America||12 B|
|5||Area Nes||11 B|
Biggest countries importer from Turkey
|2||United kingdom||11 B|
|5||United States of America||8 B|
Turkey's Top 5 Exports
|870421||Motor vehicles||4 B|
|721420||Bars and rods||3 B|
|870340||Motor cars||3 B|
|870322||motor vehicles||2.7 B|
Turkey's Top 5 Imports
|271019||Medium oils||11 B|
|720449||iron or steel||7 B|
|270112||Bituminous coal||4 B|
|870332||Motor cars||3 B|
Marketing in Turkey
In larger Turkish cities, international trade promotion events, such as fairs, exhibitions and seminars, are common methods of sales promotion. These fairs also provide opportunities for all companies to assess and meet existing competition, since most major foreign and local suppliers participate as well. Event catalogs serve as ‘trade lists’ on specific product categories. Currently, there are about 70 international fair and exhibit organizers in Turkey. Given the low penetration rate of Internet sales in the country, companies should focus more on TV advertising and seminars.
Market Challenges Turkey
The Republic of Turkey offers a promising, but often complex and challenging, market requiring adaptability and persistence. exporters may face many of the same challenges that exist in other semi-developed markets, such as instances of inconsistent or contradictory policies, regulations and documentation requirements; tariff increases on numerous products; localization requirements on various industries; lack of transparency in tenders, as well as difficulties with the public procurement process, including price preference for Turkish companies and burdensome documentation; and, a time-consuming, unpredictable judicial, legal and regulatory framework. The most effective method to address these obstacles is to work with a Turkish partner to obtain local insights and determine potential solutions. Careful planning and patience are the keys to success in Turkey.
Market Opportunities Turkey
Although Turkey has entered various crises, it also has many opportunities.
The creation of a new airport, as well as government investment in public and industrial housing and infrastructure projects, has created ideal opportunities.
Also, exports in the energy sector can be very important. In the agricultural sector, although there are some limitations, there are many common points to be found.
Health projects as well as e-commerce in Turkey is increasing day by day. A detailed understanding of the market situation in Turkey will help you create a market share.
Pricing in the Turkey market
While imports from European Union, European Free Trade Association (EFTA) countries and countries with bilateral free trade agreements with Turkey are exempt from duties, Some countries need to create competitive conditions using financing facilities and payment accounts. All imports of goods and services (except food) as well as contracts are subject to 18% value added tax (VAT) over the Cost Insurance Freight (CIF) price. The subject amount is applicable to all, including domestic, companies. All firms should consider recent devaluation of the Turkish Lira against the U.S. dollar when making price calculations for their products and services, especially when in competition with local suppliers. To avoid possible losses due to currency conversion.
Trade restrictions in the Turkey market
Most of the time, Turkey follows EU directives in terms of standards that document a product’s quality and safety. For products for which the CE Mark (European Conformity) is required by EU regulations, Turkey also requires it. Turkey, in some products, is supporting domestic products and imposes heavy tariffs on some countries that do not have preferential tariffs. Political turbulence, such as the confrontation between Turkey and Russia, can have an effect on the creation of a rapid and periodic constraint.
Turkey agreements and international agreements
Turkey has been a candidate country to join the EU since 1999, and is a member of the Euro-Mediterranean Partnership (Euromed). Euromed promotes economic integration and democratic reform across 16 neighbors to the EU’s south in North Africa and the Middle East. One important part of this work is to achieve mutually satisfactory trading terms for Euromed region’s partners. In addition to the Customs Union with the EU, Turkey is part of regional free trade agreements (FTAs) with the Economic Cooperation Organization/ECO (Afghanistan, Azerbaijan, Iran, Kazakhstan, Kyrgyzstan, Pakistan, Tajikistan, Turkmenistan and Uzbekistan) and the European Free Trade Area/EFTA (Iceland, Liechtenstein, Norway and Switzerland). Turkey also has bilateral FTAs with Albania, Bosnia and Herzegovina, Chile, Croatia, Egypt, Georgia, Israel, Jordan, Macedonia, Malaysia, Mauritius, Moldova, Montenegro, Morocco, Palestine, Serbia, South Korea, and Tunisia,with some others still to be ratified.
The strategy for entering the Turkey market
There are challenges to enter the Turkish market. In the first step, you need to review your resources for market entry and have an accurate assessment of costs.
Having a local business partner can be the key to your success on the market. A Turkish citizen can help you grow your brand with valuable relationships.
Digital marketing and direct marketing will be the main component of your marketing program.