Logistics Turkey says talks with Abu Dhabi fail on port deal The Turkish government has confirmed that talks with Abu Dhabi Ports Group (AD Ports) over operating rights at the Alsancak freight and passenger port in Western Turkey have failed. “The aim there was to get a partner for the Alsancak port and adding capital to expand it,” Turkish transport minister Abdulkadir Uraloglu told Bloomberg. No […] February 21, 2025
Sustainability Turkey receives climate funding from Beijing agency Turkey has secured a $5 billion investment commitment from the Asian Infrastructure Investment Bank (AIIB), a Beijing-based multilateral funding agency, to support its long-term climate strategy. Turkish finance minister Mehmet Simsek and AIIB president Jin Liqun signed a memorandum of understanding for the investment programme, at a conference in Saudi Arabia, the bank said. The programme […] February 18, 2025
Manufacturing Turkey’s Togg considers factories in Asia Turkey’s electric vehicle (EV) maker Togg is looking to expand manufacturing to Asian countries such as Malaysia, Indonesia and Pakistan, President Tayyip Erdoğan has said. Pakistan has already expressed interest in producing Togg vehicles, Daily Sabah reported citing the president. Erdoğan has given Toggs to each of the leaders of the three nations, saying it is […] February 17, 2025
Tourism Tourists shun Turkish resort over earthquake fears Hotel bookings in the popular tourist resort of Bodrum on Turkey’s Aegean coast are down because of fears over earthquakes and tsunamis. The Greek island of Santorini has recently suffered a spate of quakes, which has prompted an exodus of tourists. The Bodrum Hoteliers Association said early season hotel reservations are down on this time […] February 14, 2025
Trade Turkey and Pakistan target $5bn bilateral trade Turkey and Pakistan plan to increase bilateral trade to TL180.5 billion ($5 billion) after it rose 30 percent year on year to $1.4 billion in 2024. “The bilateral trade volume between Turkey and Pakistan reached its highest level in 2024,” Daily Sabah newspaper reported, quoting President Tayyip Erdoğan’s speech at a business forum in Islamabad. […] February 14, 2025
Agriculture Cut flowers are a growth industry for Turkey February is the busiest month for Turkey’s cut flower exporters, as Valentine’s Day on the 14th of the month results in 70 million or more blooms being shipped to markets across the continent. Revenue of between $8 million and $10 million is expected, and with International Women’s Day following close behind on March 8, increased […] February 14, 2025
Agriculture Tech incubator aims to refresh Turkish farming The average age of a Turkish farmer is more than 58, according to data from the Union of Chambers of Agriculture of Türkiye, a problem aggravated by the rising tide of young Turks abandoning rural life for the big cities. The İzmir Agricultural Technology Centre (İTTM), based in Turkey’s western Aegean region, aims to change […] February 13, 2025
Manufacturing Top Turkish defence firm to build drones in Indonesia Baykar, a leading defence supplier based in Turkey, has signed a deal with the Jakarta-based defence company Republikorp to build a drone manufacturing plant in Indonesia, according to a local newspaper. The deal was among several agreements signed during President Tayyip Erdoğan’s visit to Indonesia, media reports said. Baykar, a private Turkish defence company chaired […] February 13, 2025
Trade Turkey lifts Syria trade barriers to spur growth Turkey has lifted trade and transit restrictions on Syria at the countries’ border, the trade ministry said on Tuesday, progressing with plans to expand trade after the fall of Syrian leader Bashar Al-Assad. Goods exported or imported between the two neighbours or transited through Syrian border crossings will now be subject to the same conditions as those […] February 12, 2025
Trade Jewellery crowns Turkish exports in January The Turkish jewellery industry reported a more than twofold increase in overseas sales in January, with the United Arab Emirates proving to be by far the biggest buyer. Jewellery exports for the first month of the year came to over $1 billion, according to data issued by the Türkiye Exporters Assembly (TİM). This is up […] February 11, 2025
Manufacturing What Trump’s steel tariffs mean to the Middle East Donald Trump’s proposed US steel tariffs will put Turkish producers most at risk in the Middle East, while Gulf steel exporters will be sheltered from the worst of the damage, experts have told AGBI. On Sunday Mr Trump, the newly elected US president, said he would soon unveil 25 percent import taxes on all steel […] February 11, 2025
Food & Drink Former KFC operator in Turkey files for bankruptcy IS Gida, the former operator of the KFC and Pizza Hut franchises in Turkey, has filed for bankruptcy after debt reached TR7.7 billion ($214 million). The filing comes a month after the US-based owner of KFC and Pizza Hut terminated its franchise agreements with the Turkish company, state-run Anadolu Agency (AA) reported. “The reality we […] February 10, 2025
Tourism Gallipoli takes centre stage in Turkey’s battlefield tourism plans Visitors from as far afield as Canada and Australia wishing to pay respects at Gallipoli are proving to be another string to Turkey's tourism bow February 7, 2025
Economy EU’s $323m grant to support Turkey’s green transition The European Union (EU) will provide a $322.8 million grant to Turkey to bolster the country’s green and digital transformation drive. The European bloc has provided over €780 million ($810 million) to support Turkey’s green transformation, Jurgis Vilcinskas, deputy head of mission of the EU delegation to Turkey, told the state-run Anadolu Agency. The grant […] February 6, 2025
Analysis Infrastructure Turkey’s rebuilding goes on two years after devastating quakes Two years since twin earthquakes devastated much of Turkey’s southern region, the country is still picking up the pieces. Fewer than one-third of the 680,000 homes lost have been rebuilt so far and 600,000 people are still living in converted shipping containers. More than 53,000 people lost their lives in the February 6 earthquakes, which […] February 6, 2025
Employment Turkey’s new strategy targets skilled jobs for youth Turkish president Tayyip Erdoğan has launched a new youth skills development programme to increase employment. The “Iskur Youth Programme” will support one million students over the next four years, equipping them with new skills and financial assistance, Daily Sabah newspaper reported, citing the president’s speech. Nearly 200,000 students will benefit from the programme this year […] February 5, 2025
Economy High costs push up Turkish inflation in January A sharp jump in costs may hinder the Turkish government’s hopes of delivering further interest rate cuts, with inflation in the services sector, housing costs and food combining to pressure the consumer price index. Inflation rose by just over 5 percent in January, according to data from state statistics agency Turkstat. This was fuelled by […] February 3, 2025
Analysis Trade Turkey becomes a short-term investor haven from Trump Turkey is being seen as a relatively safe harbour among emerging markets by investors looking to shield their funds from aggressive US trade policies, although Ankara is not immune to Washington’s ire. There has been a recent move back into Turkish debt stock, with local bonds attracting $1.9 billion in foreign capital in the first […] January 29, 2025
Economy Saudi Arabia in talks for $6bn Turkish arms deal Turkey expects to strike a $6 billion agreement with Saudi Arabia for the sale of warships, tanks and missiles. The deal may include Saudi Arabia joining Turkey’s fighter jet development project, which could be signed during the visit of President Tayyip Erdoğan to the kingdom in March, Bloomberg reported, citing unnamed officials. Ankara aims to […] January 28, 2025
Aviation Istanbul Airport remains Europe’s busiest Daily flight arrivals in Turkey’s Istanbul Airport have surpassed major European airports such as Amsterdam, London, and Paris in 2024, making it the continent’s busiest. The airport received an average of 1,401 daily flights last year, an increase of 2 percent year on year, thus retaining its position as the busiest air hub in Europe […] January 27, 2025
Banking & Finance Credit and debit card use rises steeply in Turkey Cash could be dethroned as king in Turkey as consumers increasingly turn to plastic when paying for goods and services. But the rise in card usage also comes at a cost, as more Turks fall behind in servicing their debt. Credit and debit card spending reached a total of TL14.87 trillion ($420 billion) in 2024, […] January 24, 2025
Economy Turkey cuts interest rate by 250 basis points Turkey’s central bank cut its key interest rate by 250 basis points to 45% as expected on Thursday, carrying on an easing cycle it launched last month alongside a decline in annual inflation that is expected to continue. The central bank indicated it would continue to ease policy in the months ahead, noting that it anticipated a rise in trend inflation in January, […] January 23, 2025
