Those who are old enough will remember that in the past, entrepreneurs and the state were definitely not getting along, and the Ministry of Foreign Affairs did not quite understand the functions it had to fulfill. With the change in government, the state now uses its resources to develop markets for Turkish goods and business relations with the world. Turkey has also been working on legal and tax regulations to support the economy and make these agreements feasible, applicable and efficient. In this regard, let’s look briefly through the recently signed economic and commercial agreements:
On Jan. 16 Turkey signed an agreement with the Republic of Ecuador. By this agreement, both countries will make provisions to develop the commercial relationship between them. The agreement also aims to establish a Turkish-Ecuador Joint Economic Commission, which will lead to more trade in the future. The relationship between Turkey and the Southern Cone countries has been significantly developed in last decade. An important cause of that development is the sustainability of the countries and the fact that they are emerging markets, while the eurozone countries and the US suffer from the global crisis. During the ongoing worldwide recession, many countries like Turkey and those in the Southern Cone have kept growing and developed relations amongst each other.
On Jan. 12 Turkey signed a double taxation agreement with Switzerland. Switzerland has become the most popular destination for many rich individuals through its granting of advantages to those who have enough wealth and want to pay less in taxes.
On Dec. 27, 2011 Turkey signed an tax evasion and double taxation agreement with Germany. Germany is already one of Turkey’s biggest trade partners. Germany has a strong economy despite the eurozone crisis, and it’s possible the EU survives by the help of Germany. To protect its economic power, Germany has to open up to the East and can do this only through a partnership with Turkey. The trade volume between Turkey and Germany increased 56 percent in the first half of 2011. There are over 25,000 foreign companies in Turkey, and German firms take the lead. This indicates these two countries have a strong partnership. This partnership needs to be protected with such agreements.
Turkey started the new year with these agreements. Economic balances in the world are changing. To develop its economy, Turkey should globalize through these kinds of agreements and Turkish entrepreneurship. Turkey surely has many things to do, but may the year 2012 be the year of Turkey. How about it?
