Turkey is crossroad between Europe & Asia for Japan, says Yoichi Kanno
06 Apr '06
3 min read
Former Chairman of the Japanese Society of Istanbul
Yoichi Kanno, Former Chairman of the Japanese Society of Istanbul says Turkey is by no means a nation bogged down in the past glories of the Ottoman Empire. It is forecasted that Turkey will develop into a major consumer market, based on its population of over 70 million, which is larger than that of any European country except Germany, and its dynamic economic growth.
Moreover, Turkey's present administration is powerfully promoting reforms and energetically carrying out the privatization of state enterprises.
At one time, the Turkish economy was described as a roller coaster economy due to the country's chronic economic instability. It used to be said that although Turkey had an enormous potential for economic growth, an unstable political climate and erratic policies were conspiring to bring the economy down.
In recent years, however, with the goal of eventually joining the EU firmly in its sights, Turkey has been practicing a consistent policy and it is expected that this will result in the country's stable economic growth into the future.
Recently, the spotlight has been on Turkey as a manufacturing base for automobiles and home appliances for the European market. The Turkish people are traditionally an equestrian people, but it is said that they have also been engaged in manufacturing since long ago.
The advances of Japanese companies in Turkey are also conspicuous. In 2005, a leading Japanese carmaker's local affiliate became Turkey's number-one exporter for the second successive year.
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