Turkey is strategically located between Europe and Asia, and features an open, liberal trade and investment climate. As a key supply partner to the European Union, Turkey has attracted significant foreign direct investment from Western Europe. It’s also the largest and most important market for Export Development Canada (EDC) in the Eastern Mediterranean region. The country’s economy is increasingly driven by its industry and service sectors, although its traditional agriculture and textile sectors remain important employment drivers. The business environment has improved, but downside risks persist, including policy unpredictability and banking sector pressure. Public debt could rise over the coming years as the government supports the economy through the COVID-19 pandemic and is forced to take on private sector and state-owned enterprise debt.
EDC serves our customers in Turkey through local representation in Istanbul.